Member Info for KoR_Wraith

Apologies - looks like I misread the RNS, rather Goldman's holding has switched from 5.25% in 8.A holdings to 5.18% in 8.B 1 + 8.B 2 holdings!

Looks to be that this year's share repurchase program has been almost entirely swallowed up by Goldman Sach's offloading their 5% stake in the company. Makes me wonder if the share repurchase and Goldman sell-off were planned in tandem...

In any case, with Goldman no longer off-loading the SP has crept higher this week, hopefully some short term upside to follow.

I've bought in here today after also considering Bank of Georgia.
Discount to NAV is significant but I suspect this is somewhat due to the number of unlisted investments that are inheritently more difficult to value.

However, even allowing for an arguably inaccurate NAV, I like their soon to resume dividend policy and price relative to pre-COVID trading.

Nothing too surprising in today's update.

- Revenue and profit decreased due to coronavirus halting deliveries/in-store trading
- Recent trading significantly above last year as demand backlog/increase is met
- Company fully expects to recoup last year's missed revenue, with significant profit upswing this year
- Usual reminders that Brexit/macro-economics add unpredictability to next 12 months

I expect next quarter's trading update will feature blow-out numbers as large post-lockdown delivery volume will provide record breaking figures.

I've read through Clearstar's last few updates and whilst growth is good I'm struggling to see how the company is ever going to generate significant profits given their stubbornly high expenses.

If someone could enlighten me it would be much appreciated!