The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
Knigel, I'd not be HC&R if for example Allan Biggar had been dumping shares, does that answer your question. You see it's all about balance, and your posts rarely have any.
You're quick to jump on the negative bandwagon when Wulstan sold a few million shares (for whatever reason and who knows how many he still holds), but for me the real story is that Allan hasn't sold any of his 38m shares or 66% of the company.
When Aidan first published his blog the likes of you scoffed at people ever getting gifted shares.......and yet here we are.
I'll judge the people involved once this story has completely unfolded......(I notice BDO's stance is softening in their latest report)
Mijulie - is the 20k your entire holding? I can't help but think that there's more to this than it seems, the gifting of shares is totally unique, personally I'm holding for the longer term. Maybe cover your bases and sell some but keep the remainder? No advice intended.
To quote you directly.. "Never heard such ramping in my life.. who cares what a shareholder of Whetstone is worth. GSC is not Whetstone." GSC is 66% of Whetstone. Whetstone is GSCs only asset... The calculations I made in my original post are very easy to follow. If you are a Whetstone shareholder you perhaps should care what a shareholder of Whetstone (namely GSC) is worth.... As their value is based on their only asset ie a 66% holding in Whetstone. Its not rocket science
Attempting to work out a valuation for Whetstone.....
Guildford Street Capital (GSC) owns 66.49% of Whetstone see: http://whetstone.capital/
According to this filing at companies house on 7th August: https://beta.companieshouse.gov.uk/company/10868344/filing-history
Someone bought 157,000 GSC shares at 88p each, if for arguments sake a value of 88p is applied to the entire share capital of 20,167,000, it would value GSC at approx £17.7m
As far as I can tell the only asset that GSC has is its 38.4m Whetstone shares (ie 66%)
May be making a few assumptions here, but if 66% of Whetsone is valued at £17.7m, then on that basis Whetstone could/should be valued at circa £26.8m.
There are just shy of 58m Whetstone shares (38.5m held by Allan Biggar through GSC)
£26.8m / 58m shares gives you a share price of 46.2p (cheapest offer currently 24p on Britdaq)
Please feel free to comment away, appreciate some assumptions have been made in my logic/calculations.