Member Info for Krustysmegma

I think, on balance, I'll be voting against the two RM nominations. I suspect their agenda takes the company in a direction I don't want it to go (accepting it needs to change direction, liquidation or similar is not my preference at this stage).

I haven't made my mind up re the two GSF NEDs yet. In my view, someone should be carrying the can for the continual misinformation pumped out over several years now, I'm just not sure it's these two (surely by definition) peripheral players.

For me it's the Investment Manager who is culpable here rather than a couple of NEDs on the GSF Board. It's not unusual for companies to engage consultants to advise them, but surely in this case it's the job of the Investment Manager for which they are paid handsomely. How embarrassing for them to be subjected to the different views of outside consultants who start out with little or no knowledge of the industry. In my view, Alex O'Cinneide has a lot to answer for.

Late up this morning. Saw market reaction. Read interims. Breathed sigh of relief. Bought some more.

I hold AEWU silverknight, very happy with the performance there. Happy here too, but down another 5% today. I've had a look at the cost of interest as a % of dividend, and the headroom (cover) for the dividend, and I can see that there will be pressure to maintain this level going forward. It will be interesting to see if they have a strategy to minimise the impact, say by disposing of one of the lower-yielding assets in the portfolio. I guess they'll be hoping for another cut in interest rates before nailing down a long-term replacement loan, although they could always refinance later if/when interest rates fall further. Interesting times, question now is whether to add at this rate or hold tight & see what happens next.

Squid, you do realise Reform would have to actually run the country if elected don't you? So that would, presumably, be Prime Minister Farage, Chancellor Farage, Foreign Secretary Farage, Home Secretary Farage... unless you're aware of any other talent in the party who could occupy these senior Offices of State? Any suggestions?

Pokerchips: " Taylor Wimpey's share of the combined financial contribution will be a payment of £15.84 million. The payment will be made within three months of the date on which the Parties receive formal notification of the CMA's acceptance of the commitments, and will be treated as an exceptional item within the half year results."

So already factored in to the SP.

Down 5% today. Is the risk to the dividend more than a 5% risk? Not for me. I'll be holding, for now at least. If it comes off any more I'll look to add, for the long term. I don't think we'll have to wait until October to find out, they'll want it done before then I suspect.

Agreed ws, gixer has been the unofficial RNS feed for this company for years now. They should show a little red dot each time a new post of his appears.

Hi Mike, can I add my appreciation for your input on this board over the years. As Sam says, your research and analysis will be sorely missed. Obviously I'm sad to see you go but have been wrestling with my own position here for some time so can fully understand your decision. I sincerely hope there is an opportunity for you to get back on board at some point, once the fog lifts and a clearer investment case emerges. Just not sure when that will be. Hope you will still pop back from time to time and share your thoughts. Very best wishes for the remainder of your portfolio, & kind regards. K

2 NED's, including the Chair, added to their holdings (see RNS's), think that trumps a stupid broker downgrade.

I guess the numbers were pretty much in line with what I'd expected, based on the recent AGM statement. As is usual with III these days, the market reacts negatively whatever the numbers look like. They usually recover in relatively quick order though and I expect the same this time round. Hoping to see some significant upgrades to the yield over the next couple of years, reflecting the dividends received by III from Action.

Dividend reduced as well, didn't see that coming after the recent rise here.

Yes, shame they've stopped reporting the NAV but as you say Mike, presumably no longer a requirement now the company has transitioned to commercial company status.

It's clear now that the company believes Armageddon is coming for world trade and, by implication, the shipping sector given the instability caused by Trump's trade wars and use of tariffs. Markets, meanwhile, are running at or close to record highs, presumably working on the basis that things are going to get better despite interference by The Donald.

The company will soon have sufficient cash in the bank to continue paying the dividend for many more quarters, so I guess I'll hang on in there and see how this all plays out. Either things work out as the company expects, in which case they'll buy up new and/or used vessels for less than they sold the fleet for, or things will improve, they'll sell the remainder of the fleet & return our investments to us. Sounds like a win-win, despite continued losses.

Ha ha, LESS bearish!! OOppss!

Sounds like we've both done well from our long-term investments here, but I'm more bearish than you Alas_Smith. The company has said "We model 3i Group receiving £14bn of dividends from Action by 2031". Compare that with the current mcap of c. £42bn & imagine where the SP might be by then if it comes anywhere close to that figure. Or a yield of c. 33%, take your pick. I accept that my investment is in Action plus a few smaller plays, but that's fine by me. Like the company, which far from "siphoning off" continues to add Action shares, I back my winners. Looking forward to dividend payment day on Friday and will undoubtedly reinvest the proceeds here.

2.25p minimum dividend at 1.0x cover per Paula Traveso, Managing Director (Q&A just past 37 minutes). Of course it could be higher...

https://www.investormeetcompany.com/meetings/final-results-159

Pip56, can I suggest you look at the Chair's statement, "Dividend Policy" para 3 which differs from your analysis sadly.

You're right whitelye. I included the reference to it at 8.00 this morning.

Just looked at the 5-year charts, BME down 50% and 3i up 400%. So no correlation at all.

Moneybox - no, or not that I've noticed anyway. I can't think why there would be?