Member Info for Krustysmegma

...and down we go again. I'm seriously considering increasing my holding here specifically in anticipation of a breakup and asset sale. £123m net worth divided by 180m shares in circulation equates to c. 68p per share if the Trust is liquidated. I'll take that, thank you. Wonder if the auditors will be pointing this out as part of their sign-off responsibilities?

I'm sure there are quite a few other investors lurking on this page but generally speaking this is still under the radar for most. Hope it stays that way for the time being. Sooner or later the genie will be out of the lamp though, it's too good an investment to stay secret for long. 8p in planned dividends and possibility of another special at year-end, plus potential for significant sp gains once the combined, enlarged company flexes its muscles.

May well be the best bet sam, for now at least. Does that mean you're invested in TMI rather than TMIP, for the $ dividend? I'm still banking the £ here but conversion rate has been very beneficial recently.

Looks like it's taking the market a while to work out whether this is good or bad news. It may take a good set of results from the enlarged company before they make their minds up. I can only see good things coming of it though. If the sp dips below £1 I'll be adding.

Wonder what happened to that knob who was going to borrow money to buy TW shares? Hope he changed his mind.

Oilandmetal yes, on Monday.

Paul Bassi appears to be holding over 12m shares here, present value around £3m
I'm sure it's not lost on him that liquidating the company could leave him with over £6m
Food for thought as the longer, colder nights come round

It's been a rotten few months for investors, as you say there are gaps everywhere. But this one has just become ridiculous. It's literally worth twice as much dead as alive. I think it's time to liquidate the assets and give us our money back, sadly. There are plenty of other places to invest with decent dividends where the share price hasn't dropped to 50% of the asset value.

So the portfolio is worth c. £190m, less £75m debt = £115m. Cash at bank c. £8m = £123m.
The market value now stands at c. £56m, in other words less than 50% of the company's worth.
It's time to take a leaf out of Terry Smith's book with FEET, call it a day and sell off the assets.
We would more than double the value of our holdings.

OK thanks Ken, even more reason for me to add before that news. K

By my reckoning the yield is over 6 1/2% now too so worth considering on that basis alone. Next update will be an interesting read when it comes along. I may look to increase my holding here before that.

SAGA, the number of shareholders has reduced by over 80%, not 20%:
"Following the implementation of the Odd-lot Offer, the number of certificated shareholders has been reduced by approximately 81.37 per cent"
You can see why they felt it was worthwhile doing. K

Found it, thanks sam. Let's hope it's all concluded soon, without the need for further extensions.

No RNS this morning re 10 day extension, can't see anything on Grindrod website either. Have you got a link you can share sam4224?

Great find sam, hopefully an RNS with more detail in the morning. K

I do hope you're right Lioness. Have a small number of these which are seriously underwater but would like to buy a chunk in my SIPP for the growth potential. Trouble is, every time it looks to have bottomed out it seems to drop another 10% on volume sells. Nevertheless I'm sorely tempted as this could quickly re-rate from here and I like to swim against the tide.

That’s not fair Warty.

28th July
Sareum has made significant progress advancing SDC-1801 towards clinical development and plans to initiate Phase 1 clinical trials in 2022,......

Today
Sareum has submitted a Clinical Trial Authorisation (CTA) to the UK's Medicines and Healthcare Products Regulatory Agency to initiate a clinical trial of SDC-1801.

Can I suggest you read it again?

From today's edition of the magazine:
"With the global Handysize fleet expected to contract in size over the next couple of years, the value of the company’s fleet will only continue to rise along with charter rates, especially after the Grindrod deal.
Buying Taylor Maritime each time the shares pull back has been a winning strategy in the past and we suggest investors free up some cash elsewhere in their portfolio to top up again at current levels."

Full-year results next Monday, will have to wait & see what they say. Surprised by this big drop though.

Ouch, spoke too soon. Revenues up slightly but costs up 29% & profit down 16%. This won't go down well in the current climate I'm afraid. Need to focus on managing the new business before looking at further acquisitions now IMV.