Member Info for Krustysmegma

Yes all very encouraging, let's hope they can convert this positive start to the new F.Y. into an interim profit.

Agree that Grind sale of a brand new vessel seems a bit extreme, perhaps they'd ordered it at a time when they thought it would replace one of the older vessels that has subsequently been sold following the takeover? It'll certainly make the outstanding loans look better, c. 10.5% off the total debt. I'm not a fan of vessel sales (I may have mentioned this before??) but the long-term commitment to eradicate the debt has to be a positive aim, so I continue to support the management's decisions in that regard.

Surely buybacks ARE a reinvestment in the business schwee? And at a massive discount too, in this case.

Thanks all for your comments, interesting range of targets from 1.2p - 28p. I'm going to set my target at 5p for now pending further developments. Alarmingly, that's about 3p less than I paid for my first tranche of shares nearly 15 years ago. It's been a bit of a journey for long-term holders here.

Thanks for correcting me Bernie, I'd forgotten about the Lucas family holding. I checked on Market Screener (which is usually quite reliable) but they don't have record of it for some reason. With DSM it would put them in a very strong position to influence any decision, as you say.

What big holders? We know DSM account for 7%+ and wellsite has collected a chunk but who else has even 1%?

5p would get my attention, bearing in mind what I could have done with the money these last god knows how many years.

My view on this, fwiw. This is going to be a really important year for TMIP. 2023's US$26m profit has been followed by a loss last year of US$53m. Whilst TMIP has managed to reduce debt below the 25% target (23.5% @ year-end), the overall debt level, taking Grindrod into account, is 35.8%, reflecting the newer vessels in the Grind fleet. All this, of course, against a woeful macroeconomic situation and sky-high interest rates. It's important this year, then, that TMIP gets back on course to profitability or, at the very least, break-even. Commitment to the dividend level appears absolute, but it won't withstand another year of losses, so Friday's announcement will be interesting. Daily rates have been improving since year-end, and TMIP has performed exceptionally well to comprehensively beat the average in the last 12 months, so plenty of reasons to be optimistic going forward. Hoping for a positive start to the new FY with less/no vessel sales reported.

Absolutely tootight, thanks for your reply. I just wanted to find out if there was a general consensus, and whether it might be closer to a penny, 5p, 50p, something more exotic...

Yes very encouraging, but take a look further down at the quote Armstrong01 copied here: "We model 3i Group receiving £14bn of dividends from Action by 2031". Compare that with the current mcap of c. £29.5bn, & 2031 is only 7 years away. Staggering potential for income & capital growth if they get this right!!

Just picking up on alf's point about the risk of a lowball offer here, it occurs to me that I don't have a figure in mind at which I would sell because that's not why I'm here. What's the general consensus re fair value, just out of interest? Don't want to get caught on the hop if something comes out of leftfield.

Dividend has already been declared, 2.2p post-consolidation. Currently c. 6.4%

SD235, on the same theme of income investments, are you aware that HHI holds c. 2.3% of it's fund in 3i?

Thanks both, that's helpful. I hold a couple of Janus Henderson investment Trusts which are very diverse, this looks like a similar scenario.

Think the "rise" might be an illusion created by the MM's saintly, sorry. Mid-price actually 13.60 so unchanged.

Useful summary, thanks for your thoughts Nick.

Thanks Sam, useful to know. I've felt all along that TMIP has been constrained in it's handling of Grind, this should help clarify where the balance of power lies. I suspect they'll have to make a few changes in personnel at Grind before things truly improve though.

Once again, outstanding performance from Action underpinning another successful quarter for 3i. Long may it continue. Market agrees, pushing towards £31.80 record high now. Increase in Action % holding should ensure a nice dividend rise at half-way too.

Seems to have settled into a routine now whereby they pay 50p, 50p and 75p each quarter (1.75p) which leads to the target of 7p. I'm still hopeful of a small adjustment for period 12 but not expecting the bigger final payment we had last year off the back of level payments of 50p per month.

Does anyone on here hold TFIF as well as SMIF? Just wondering about the different merits of both as this has been one of my best income investments to date & I'm undecided whether to put more in here or open a position in TFIF. It makes no odds to me if they pay dividends monthly or quarterly.

Thanks for this guys, it could indeed be transformational here.

Surfie, we've all been there. I initially invested on a 4p (old money) spike and the sp rapidly dropped to a penny, then fractions of a penny. I remember being £17,000 down at one point, then made it all back when things turned positive. Instead of sitting on my hands, I invested even more & showed a loss again when the sp dived. I've only been able to get my head above water since top-slicing in 2020 and now sitting nicely, but can still feel the pain of being kicked along the way.

If there's one thing I'm confident of though, after all these years. The big movements haven't even started here yet, I'm sure the best is still to come.

Good luck with this & your other investments. K