Blencowe Resources: Aspiring to become one of the largest graphite producers in the world. Watch the video here.
250,000 NOs for me. Thanks
250,000 No from me.
This from aj bell today.
Thank you for your message.
I can confirm that I have had a response from our Corporate Actions team regarding this, and they have informed me that they are
currently preparing this Corporate Action Detail, and it will be released in the coming days. Once this is released, you will be able to
register your votes on the proposed resolutions.
If you have any further queries, please feel free to contact us.
Yours sincerely
Same here.
WTF Chat dot whatsapp dot com
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don't know why it missed it
https://*****************/gmb9wdf56ta4ettiidpegs
Same as Craigb 250k NO
Just got my AJ Bell divi. Bit late in the day but they always reinvest the next working day after they receive it. So tomorrow should be D Day.
ODonnell, I'm not saying you're wrong but what sort of price would you think shareholders might accept? I see this scenario as very unlikely bearing in mind that most shares are held by small holders. Plus, with a NAV at nearly 8p (for now I grant you) no one would accept a low ball offer. This is our one saving grace, we are a regulated investment Trust. All investments would need to have a substantial drop in NAV before that happened.
Exactly :-). My post was meant to be slightly tongue in cheek.
Ironically, if they were to commit approx 1M to doing a buyback, you would never in a million years buy back a quarter of the stock. You'de be lucky to get 10 percent. Still, it would drive the price up and let those stale bulls, like myself, get off the bus.
Ed ed ed Ed Ed Ed ED ED ED do buyback, one million, take quarter of shares, ed eD ED. Tell you what, if we all opened our back doors, balconies, windows etc and shouted this, this evening at 1900hrs, Ed is bound to hear us right. Come on folks, we can get our voices heard. F Me, I'm loosing it. With age comes insanity. What do you say OD?
I'm not sure I understand what that means Takayama.
"NAV of company shrinks as assets are liquidated via those profit takers".
We are a closed end Investment trust. Shares can be traded just like any other company. They don't need to liquidate assets. Also, we need sellers if a buyback is to happen. Shares purchased can then be cancelled. Fewer shares in circulation and the NAV increases. A win win, especially for selfish gits like myself who would like to exit nearer to NAV than we are at present :-).
I still can't understand the lack of enthusiasm for buying back stock that is significantly below NAV. I mean this company were buying back stock at between 15p and 18p five years ago when the NAV was only just above 9p. Talk about buying high and selling low. It's like they have the mentality of a tin pot trader. Now the stock is way below NAV; nothing. You couldn't make it up. We need someone at the helm who understands the mechanics of how an Investment trust actually works.
Any fund manager worth their salt, would never sit on such a discount if they had any confidence in the portfolio. Especially with a lump sum coming there way.
Yes, that's what I'm scared of. Buy backs seem the only wise option to me in the current market. I'll wager they won't as well.
Surely the best course of action, to reduce this huge NAV discount, is to buy back stock. I see a number of Investment Trust fund managers, with far smaller discounts, are reducing the amount of their shares in issue to re-balance that discount. It also gives frustrated holders and window of opportunity to exit.
And don't forget, that will be the NAV for 31 March 2023.
Last reported NAV, "The net asset value of the Company at 30 September 2022 was GBP16,689,000 (31 March 2022: GBP20,461,000), equal to net assets of 7.84p per Ordinary Share (31 March 2022: 9.62p per Ordinary Share)."
Next reported NAV probably Jul 2023 with the issue of final results.