George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
www.fool.com/investing/2021/10/01/why-spire-global-stock-just-crashed-455/
And the reason
I bought a few extra once they dropped under £100 - fingers crossed I called it - my OCD is hoping to flip them in a short ish time frame to round up my holding to a neater number of shares :)
Not sure why, but Spire has tanked today - over 40% down at $7.10 from last night's close of $12.50. Will see if there's any reason I can find.
Companies House is your friend:
https://find-and-update.company-information.service.gov.uk/company/09263424
"OCTOPUS ENERGY LIMITED
Company number 09263424
Registered office address
6th Floor 33 Holborn, London, EC1N 2HT
Company status
Active
Company type
Private limited Company"
Owned by Octopus Energy Group Ltd - I didn't go further down the Rabbit Hole of finding out who owns that.
Twonko wrote:
" the SP has gone from £2.40 in June to under £2 as of yesterday and the trend is still down. Looks like a sell, smells like a sell."
No it hasn't. It was £2.60 for most of June with a brief dip to £2.50. Yesterday it dipped to just under £2.70 and today is just under £2.80. You may have posted this on the wrong board I think.
Good catch on the RNS - I missed that yesterday! How annoying that they have switched from reporting the cost in USD (the stock's quoted price) to GBP meaning we have to estimate an exchange rate. Quite a bit more than my rough estimate, but that's not unsurprising given the huge swings in the first couple of days of trading, and as you say, not a bad return at all $31.57 close last night, so a touch over 100% return. To the mooon ;)
The dividend is fixed, it's the exchange rate that is approximate (although as they have given it to about 6DP, you'd have to have a large # of shares for the approximation to be relevant). The divi is fixed at USD 0.07. I think you can elect to have it paid in USD if you have a USD account with your broker, but if you have a GBP account, they set an exchange rate on a set date per the divi RNS depending on what currency you are paid in.
As with Spire, I looked at the closing prices and volumes on google finance to come up with an estimate of what the IT will pay the VC for the shares.
ARQQ • NASDAQ
Arqit SPAC Closing Vol (k)
07-Sep 11.3 3,500
08-Sep 14.01 15,000
09-Sep 14.2 1,700
10-Sep 15.21 1,000
13-Sep 14.98 619
Strict average is $13.94, volume weighted is $13.6726, but there were some wild swings in the first couple of days, so I'd not be surprised if our price was a fair bit different. On Spire, my estimate was about $0.10 low.
As I type, ARQQ is $15.05, so about 10% up on what I estimate we paid. That'll do for a week's trading :)
I finally got around to checking the Spire price paid vs my calcs.
I had our price as being likely to be around $9.12, and according to the RNS, it was 1,105,520 shares for $10.2M which is $9.2264/ share - likely to be very slightly different as the 10.2M will be rounded. As I type, Spire is $12.71 - a measly 38% return in about a month. Long may our managers make that sort of return. I'll do my Arqit estimate in a minute.
The VC investors should be very happy with ARQQ - opening price post merger with the SPAC was $9.07 on 7/9, today it opened at $14.15 and as I type is $17.02 (it has peaked at $23.40 yesterday according to Google Finance). Whether we IT peeps will be as happy will be determined in a few days when our price is settled and over a much longer period as the company matures and (hopefully) performs.
Not sure why, but Spire popped almost 30% on Friday - opened at $9.18, closed at $12.00 although came down to $11.00 in after hours trading. Any news I have missed?
@bbrinkw - "Are people mistakenly using capital gains as yields?
I am sure company hasn't indicated any such thing as a 15% yield.
Revenue will be held back to build the company, I envisage only a small yield."
Yes
It hasn't - IIRC it said looking at 10-15% total return
They said as much in the prospectus - they don't expect to issue divi's, but will retain any remittances from holdings for further growth.
"Wed, 18th Aug 2021 07:00
RNS Number : 9594I
Seraphim Space Investment Trust PLC
Transfer is expected by end of August 2021 at which time a further announcement will be made."
*Checks Calendar*
*Taps Feet*
Indeed - there's longer quotes from him on this in other articles - he basically says they are great songs, but who is going to play them if he is convicted. I bet the Gary Glitter and Lost prophets back catalogues would be even further discounted but still wouldn't make any money.
I'll see your industry promo and raise you an R Kelly reference:
https://newsnationusa.com/news/r-kelly-struggling-to-sell-his-music-catalog/
Geeky stuff I do to warm up for real work:
according to the RNS, NYSE:SPIR started trading on 17/8 (I though the SPAC acquisition happened on 16/9 but calcs based on that will be notes).
SSIT will pay SSVC the 5 day average for the holding in Spire.
From Google Finance, the closing prices ($) 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 :)