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I seem to have been a bit hasty with my analysis as a transaction has just appeared for 10,355 shares transacted at 454p and at 14:19 it is undoubtedly a sale although they are stating 'unknown' that explains why I got my shares so cheaply.
Just topped up at 467.5p, I couldn't resist it as the price fell significantly today. I don't understand how they can be quoting bid 454 and ask 494, with all the transactions today showing as sells and at higher prices than I paid to buy. Yes I know that they never know whether a transaction is a buy or a sell when they post it here, so don't be overly swayed by that.
An insider allowed to make a big purchase. I don't expect any significant news imminently, that could be why the share price has not risen much now.
Some ghastly looking falls in portfolio companies in May revealed in the monthly factsheet. Also revealed that UIL and others are going to take over Somers, I don't know if that is a good move or not given the existing relationship between the companies. In the circumstances I am now fully out, as there appears to be absolutely no buyers around I can't see the share price rising, at least it hasn't fallen with the market over the last few days as aside from me there are almost no sellers recently either.
NAV for 10/6 down to 287p and Resimac fallen a further 7.25% today in Australia so I expect a lower NAV to be reported tomorrow here. It is looking like UIL could manage to have closed the discount to NAV here soon to near the target of 20% not through any of their own efforts but through the poor recent performance of the fund.
Share buyback suspended now beyond the $25 million, This nil premium merger doesn't sound great but look at the alternative, CNE overpaying on a purchase of other producing assets in this current high oil price environment, IMO.
Darren it is granted that I am a little impatient but I am looking at the very recent trend. I also note that on 7 April the Share Repurchase Programme RNS states a maximum of $25 million buyback no later than 6/7/22 so they are probably on track for that but will need some more 6 figure repurchases along the way to have a hope of meeting that aspiration.
If they buyback only in dribs and drabs without seeking to move the share price on their own, it would be years and years before they use up the $200 million allocated. Potentially even longer than the 7/8 years it took to resolve the India tax refund issue I reckon.
That's a depressingly small number of shares when they are priced around £2.00. In my opinion they should be buying back far more, if there is none available to buy in the market then the share price should go up isn't that how it works?
Hold on, share price down not people clearly expecting more like definite progress on IO9 perhaps.
Well I've bought more today in the face of relentless selling by investors, this is far and away you my largest shareholding. I fully expect it to come good with patience when the value becomes even more blatantly obvious.
Now UBS have a declaration of 5.127% holding. All these new large shareholdings shows real confidence in the company and the low price which languishes. Like I said before someone must be selling big time, who?
Thanks wok, I will be watching out for any changes on the website and see if any RNS's are posted in the meantime.
I can only speculate that there are more unreported sales by II's how else can the share price have fallen so much?
Any chance of a dividend before the world stops using oil and gas? Nope I shouldn't think so! Any chance of more placings ? Absolutely!
£4800 top up, now my second largest shareholding, could do with a quick win after the Capricorn Tender Offer disappointment yesterday
My feeling is that the institutional investors bought into the shares in the run up to the TO date to pump up the price above what they thought it is worth and then sell as many shares as possible to the forced buyer Capricorn. Afterwards they have sold back their remaining shares to bring the share price down to what they thought the share price should have been all along. Pump and dump really in my opinion seems to make sense of what we have seen.
LSE is showing just 1.12% shares on short, unless anyone knows better I don't think a closing of these positions would be so price transformational on its own as other posters have suggested. Love to be proved wrong though.
February Factsheet shows an annual fall in share price of 9.1% NAV fall of 3.2% as against a rise in benchmark FTSE All share of 16% however the fund has significantly outperformed in earlier years. I don't know how relevant the benchmark is given the significant investments in Australia and Bermuda. Also the NAV is at 34.1% discount when the stated aim is to get to a discount of just 20% and there is little movement in fund holdings despite many being listed companies so are presumably liquid enough. Just saying that seems to be the nature of the beast.
Agree with your 13:43 posting Ant, I've increased my holding by 50% since Thursday 10th, although I am not so sure that II's have done for the share price over recent days. Probably just PI's getting out before the likely special dividend in my opinion.