Member Info for richred_uk

I'll see your industry promo and raise you an R Kelly reference:

https://newsnationusa.com/news/r-kelly-struggling-to-sell-his-music-catalog/

Geeky stuff I do to warm up for real work:

according to the RNS, NYSE:SPIR started trading on 17/8 (I though the SPAC acquisition happened on 16/9 but calcs based on that will be notes).

SSIT will pay SSVC the 5 day average for the holding in Spire.

From Google Finance, the closing prices ($) and volumes (vols in '000) were:

16-Aug 9.93 524
17-Aug 9.41 256
18-Aug 9.9 186
19-Aug 8.85 149
20-Aug 9.05 122
23-Aug 8.35 225

On a strict average, 17-23 August closing is $9.11/ share (16-20 is $9.43), on a volume weighted average 17-23 Aug is $9.12/ share (16-20 is $9.60) and closing price last night was $9.72. I haven't got any data (or inclination) to look at the volume weighted average for each day's trading, but will be interested to see how close these #'s are to what is disclosed in the RNS at the end of the month. Looks like an OK deal for the IT so far (yay us!).

"That can only translate into dollars!"

Pounds Sterling please old chap ;)

I'll be interested to see what price the IT actually pays for these shares as barring a slight spike on the first day of trading, the share (NYSE:NSH - it will become NYSE:SPIR but yahoo and google finance haven't caught up yet) has taken a bit of a pounding (down from about $10 a share pre-merger to $8.71 as I type). First day of combined trading was the 16th, so it should be an average of this week's prices by my reckoning.

"@jmp500, I thought you have to hold it all day during the ex-dividend date."

No, just have to hold it at the open. Sell it as soon as the market opens and you still get the divi

Yes - Spire was a retained asset too. Here's the complete list but the formatting might be nasty:

Table 4 below summarises the four investments that comprise the Retained Assets which had an aggregate valuation of £49.9 million as at 31 May 2021 as determined by the AIFM.
Legal Name Transaction Percentage shareholding in portfolio company 31 May '21 Valuation £
Spire SPAC announced 01.03.21 0.8% 4,909
Arqit Limited SPAC announced 12.5.21 5.5% 27,859
D-Orbit S.p.A Transaction underway N/A* 7,362
Iceye Oy Pre IPO transaction underway N/A* 9,755
49,886

So the VC had 0.8% of Spire, valued at c.$4.9M. The IT will acquire 100% of that 0.8% as long as it then doesn't make up more than 15% of the IT's NAV. Same pricing deal as with Arqit - 5 day average share price. Let's hope it pops on day 6 :)

I tried to buy the new boxed set from the usual online discounters on Saturday and it had sold out very quickly. Went to the GAW webshop and they were so busy, there was a queueing system (like it was Glastonbury or something) and had to wait 35 minutes to be allowed onto the webshop. All that for a £125 boxed set - hopefully that will feed though into some more great trading figures at the next update.

Yes

IFRS Debt = (£894.4m)
Pre IFRS Debt = (£427.8m)

So £466.6m of Debt is leases

Not necessarily that great - Arqit is one of the retained assets not part of the seed portfolio. The Arqit holding is still in the VC part of Seraphim and will be revalued and sold from the VC fund to the IT post-listing but before 31/12/21, so it won't be at a bargain price. See pages 44 - 46 of the prospectus.

"In the event that there is a successful corporate action by 20 December 2021 the Company will
acquire the relevant interests at a price per share: (i) where the corporate action involves a listing
following an acquisition, equal to the volume weighted average price per share for the interests
owned by the Seraphim Space Fund for the five days trading from and including the date of the
relevant listing; and (ii) where the corporate action involves a meaningful fundraise, at the price per
share implied by the price at which that fundraise was undertaken."

So we (the Trust) will pay the VC the average share price over the 1st 5 days of trading. The VC gets all the benefits of any listing boost, not the IT.

Not sure it's really good news tbh - it suggests that they are having to raid the savings account to pay the bills because they aren't earning enough from the assets. At some point if they can't pay the £0.07/ 7% per year from earnings, they will run out of capital to raid.

IIRC, there ARE time limits when directors can't trade in shares that are set around results etc (from memory about 2 months, but I could be out). But just because you are ok in terms of time limit, you are still not allowed to act on privileged information. I just left a FTSE 250 group as a manager in one of the trading subsidiaries, and I had to get HO permission to trade and was always warned that if I knew anything that wasn't public, then I couldn't trade - say if we were making an acquisition etc. So in the case of the CFO buying while talking to potential buyers of Capita as a whole, I can't see they would be allowed to do this, no matter if they are in period they are notionally allowed to trade or not.

Profit increase is negligibly linked to the capital raise, the major component in the profit increase in the year was the portfolio revaluation. Have a read of the rns with the full year results from 25th May for more details.

I had to chase mine up through A J Bell then it came through late yesterday afternoon.

Tax free in an ISA - of course you have to build up that £100k at max £20k per year, but it's nice if you can.

Round Hill will compete to buy artists' rights in the most part, driving up acquisition costs. They might be competition to a smaller extent on the demand side - while they can;t influence whether I listen to Neil Young or the Beatles on Spotify, they could in theory compete by getting their music used in an advert/ film/ TV show rather than Hipgnosis'.

Think of it like a Reit - if there's only one bidder for a building , the purchase price is cheaper than if there are 2. If a new customer can rent office A or office B, there is a ceiling to the selling price.

I think Hipgnosis is going after more recent rights than Round Hill from memory, so the impact may be limited, but it will be there.

While I'm sure they'd love a chance to do it, I don't know if those rights are available - Wizkids produces Heroclix in a very similar scale although pre-painted models, and Atomic Mass produce Marvel Crisis Protocol as unpainted 28mm models.

Where they are linking up is that Marvel are producing Warhammer 40k comics - so presumably Marvel/ Disney paying GAW a fee/ royalty rather than the other way around for GAW to get rights to the Marvel characters.

60% of the Fund Manager (Tritax), not 60% of the Fund (Tritax Big Box).

They are for H1 of Financial Year 2019 - 2020 and H1 of Financial Year 2020-2021 - in shorthand H1 20 and H1 21.

Very Happy, I don't think it is the job of government to give public money to private shareholders in the form of grants designed to mitigate the impact of forced closures when those closures didn't apply here. My own employer furloughed a lot of staff in the first lockdown, brought them back quite quickly and then repaid the furlough grant because we didn't need to take public money to pass on to shareholders, we were generating enough ourselves (OK and it's good PR and allowed latitude in dividends, acquisitions etc).

It's in the RNS 4/11/20

"On Monday 2 November 2020, Kevin Rountree, Chief Executive Officer of Games Workshop, acquired 1,376 ordinary shares of 5 pence each ("Ordinary Shares") in the Company under the Group Sharesave Scheme at a price of £13.0774 per share."

IIRC, these schemes set a price on day 1, you divert part of your salary into it each month, and at day 1000 ish (making a guess that they run for about 3 years), you have the option to convert your 'savings' into shares at the day 1 price or take it back as cash - basically a 0 premium option, and very tax efficient if the shares have risen in value as (again IIRC) you can sell them immediately with no tax implication.