Member Info for Krustysmegma

Yes, the new company doesn't publish the NAV which is a shame, but I suspect there's still a significant gap even with only 7 vessels remaining. Let's hope the market positivity continues up to & following next announcement. Next question, where to invest the funds once they arrive? Don't think I'll be going for another shipping company!

Just done a couple of quick calculations based on the c. $150m total return quoted. That represents c. 50% of my total investment here. The dividends I have received to date amount to c. 25% of what I put in, so that leaves 25% to make up somehow. So I'll see what proportion of my shares they are going to compulsorily purchase (this isn't a special dividend Sam) and make a decision then.

So I assume this is how it ends Sam. Once they've returned the c. £150m there'll be 7 vessels left, so a prospective dividend of approx. 10% of the current level? And still making opportunistic disposals. Even taking the dividends into consideration I can't see any way I can break even here. As a company, their only agenda seems to have been taking down Grindrod, for what reason I don't know. So for me it's a choice between taking what's left of my investment out now or holding on & seeing what they eventually pay out.

Disappointing doesn't really cover it. I haven't understood the strategy here for some time, and least of all now. It does appear to be coming to an end now, which I suppose is something?

Naz, could be on the verge of a major re-rate here, you wouldn't want to miss it after all this time would you? Imagine how that would feel...

Hopefully a disposal will encourage the Board to come out in favour of the continuation vote next year. Whether major investors will be persuaded to continue their support by then remains to be seen. Hopefully they will, it's getting harder to find decent dividend paying shares that maintain their value.

No. Didn't Therosy1 sell up here to invest in SEIT? That hasn't worked out too well has it?

The Company Secretary just put £500,000 of his own money in here, that tells me everything I need to know.

Thanks jr, I did see your post. Sincerely hope you're right.

Anyone else expecting 1.5p special dividend AND 0.75p ordinary dividend this year? I'm expecting the 1.5p special, at least declared before 31/12, but I don't expect the ordinary dividend to recommence until next year (April payment). Hope I'm wrong, just been let down so many times here re the actual level of dividend payments.

Small group of people? 1 in 5 UK citizens is over pension age & that proportion is growing. I believe the distinction has been made because cash is perceived to be lower risk than shares and therefore more suited to pensioners to protect them from stock market crashes.

XD this morning

EPS 4.2p, DPS 6p in the first half. There have been several repayments of senior loans in the period which have clearly had an impact, but EPS needs to catch up with DPS in the second half IMO despite an improved cash position.

Nice bounce in the sp this morning, may be linked to this story being run by BBC Scotland:

https://www.bbc.co.uk/news/articles/c0r9gyjkky0o

Fair enough JBongo, but surely closer to the UK models of Primark/TK Maxx than Poundland? Or the early "Pile 'em high, sell 'em cheap" Jack Cohen created so successfully at Tesco in the 50's & 60's? It's not for everyone but the Europeans seem to love it and the figures say they must be doing something right.

Ha ha ha, Poundland!!! When was the last time Poundland delivered a GIR of £2.85bn for its investors in 6 months??? 3i is currently 23rd in the FTSE 100 even after the recent c20% fall ffs.

Pop in to an Action store next time you're in Europe, then tell me it's like Poundland.

3i bought a Co-op sized business and has supported it to grow into a Sainsbury's size business. Very soon it will overtake Tesco to make 3i Britain's largest retailer (not that you'll see it on any comparison tables...). The difference between Tesco and Action is the years of stellar growth ahead as the march across Europe (and beyond?) continues at pace. So this remains a growth story for the foreseeable future, IMHO. I'm continuing to buy whilst the shares are in the bargain bucket.

This is orchestrated, there's nothing in these results to justify such a drop. Still, if we're charging mates rates, I'll have some more thank you!

Yes but slowing consumer confidence has been a positive for discounters in the past & Action has seen off these kind of things before. If that's all there is ("Year to date LFL trading remains good despite weakening consumer confidence since the summer") then I'm not worried. I'll be adding. Thanks for the reply Hanzini.

... down 9%, nice one K! Honestly, what the actual is going on here? Going to re-read the results now, see what I've missed.

Not sure why the big drop yesterday (profit taking/fear of results?) but these half-year results are once again stunning, and this time accompanied by the anticipated big rise in the dividend (36.5p vs. 30.5p last year). Action continues to motor away, there have been a couple of "strong realisations" and 3iN has very much joined the party this time around too. Expecting a significant recovery here today.