Member Info for SD235

Krusty

Yes it would be silly to give shareholders a return before paying down debt.

Assuming they could pay shareholders before their/our lenders it would result in debt payments rising as income fell. Resulting in an inability to pay dividends.

Of course the lenders wouldn't allow it as there is no doubt a clause based on the LTV.

Anyway I will continue to enjoy the dividends while I wait for a return of capital. I mainly spend it on beer , how about you!!

ToS1963

"There will (hopefully!) come a time when they start paying us back. Which will also be reducing gearing."

Ridiculous statement.

Paying back capital to shareholders does not reduce gearing.

Pay back debt reduce gearing.

Paying back capital before reducing debt increases gearing.

THE LTV INCREASES

7% gain today can't complain.

Still paying special dividends.

Expect a move towards a zero discount with the first reduction in interest rates....no time soon!

Personally I think some people are expecting assets to be divested to quickly.

It's going to be a slow process. Very slow even.

Enjoy the dividends while you wait and don't worry about the share price.

AND not only should you pay down gearing (debt) first they may have no choice. Why would the lender allow you to give out capital which the loan is paying for?!

Tos1963

"No need to be rude Krusty. There’s far too much of that on these boards, let’s try to keep this thread clear of that. What I do, and don’t understand is none of your concern."

Come on, you must know what gearing is?

"Whatever that means"

Really?

"Sharehead

First rate cut expected Feb / March apparently"

Pigs will fly first.

Your right to doubt it.

I assume you are?

"just hope that they get the timing right regarding how long to keep the 'ACTION' investment"

The chairman has said they believe there is 400% infill ?

Not sure which countries he is talking about?

Surely not Holland?

Eastern Europe probably

Southern Europe just started.

So a long way to go.

Possible expansion into the US?

In the case of the latter...please don't list/sell!

"RE: BioPharma Credit10 Aug 2023 09:20

At 86 cents this is yielding 8% and as you say decent record.

what others have higher dividends?"

Always worth noting with BPCR other than covid they always pay special dividends.

Pedrobull

""LumiraDX has outstanding debts of $350m and an equity valuation of just $26m. Having faced liquidity issues for several months, the company had to amend its $173m loan with BPCR for the 15th time yesterday."

Looks to me that BPCR are not getting paid more than a few cents per dollar on this capital"

Looks like 100 cents on the $ to me. Possibly more if it's classed as paying back the loan early as in a make whole payment

"LumiraDx Announces Agreement to Sell its Cutting Edge Point of Care Technology Platform to Roche

December 29, 2023

It is anticipated that all of the sale proceeds of the transaction will be used to repay certain amounts outstanding under the Company’s senior secured loan agreement, and that no sale proceeds will be distributed to the Company or its shareholders. The appointment of the administrators and sale to Roche represent the culmination of LumiraDx’s previously announced strategic review process led by Goldman Sachs & Co. LLC."

I Would guess a reasonable uplift in share price Tuesday. Say 5%?

This is not really a company to expect any share price move until a fall in interest rates.

Obviously that means less income for BioPharma but also less risk of defaults....at least that's the way markets see it.

Yesterday Traded between £15.13p and £12.04p.

I put a Limit order on st £12.70p on freetrade, didn't go through. Neo brokers are cheap but very unreliable on limit orders.... very

Specially as it finished at £13.18.

Dire and no reason for it.

Nothing in RNS so just live with it.

Take your dividends and wait for your capital return.

I also have BPCR RCOI.

BPCR is unlikely to be wound down due to its size but RCOI is another probable.

Very annoying.

90p if its wound down, less than 80p if its a jam today offer.

I will have to find something else to replace it that pays dividends as streamed interest.

No tax to pay on streamed interest.

Bugger

I assume this will be wound down with a full nav return. That's not to say the nav won't change, in either direction. Specially as the loans may run for sometime.

An offer at the moment would probably be at less than 80p.

If an offer was around it would have already been made.

But you never know!

Pity would like to keep this as it pays a large amount of its dividend as interest.

As with VSL.

90p Must be the target to return money to holders here?

At least.

At the moment I would say the full nav minus costs are achievable.

They already have an offer on some of their debt at nav.

"Personally I think I would prefer a very low long term dividends than a short term gain."

Should have read very high low risk dividend than a short term gain.

Again.

I predicted this would go into wind-down....if the market in renewables didn't improve.

But as its relatively new I thought in a couple of years.

Far to early.

Its noticeable that going into wind-down doesn't automatically lead to narrowing of the discount. This appears to be an exception? Possibly the offer of an immediate sale of one of the assets is one reason.

The spread at the moment means we will have to see what the actual price is.

Personally I think I would prefer a very low long term dividends than a short term gain.

Note if vsl share price is anything to go on who knows where TENT will be tomorrow!

"SP is not suggesting any optimism for a US Listing Today"

The stockmarket is consistently wrong.....in the short term.

There are times when you have ask yourself why is it this cheap?

And in particular relative to it's peers.

If there is no visible reason then it is reasonable to assume the market is wrong.

BUT it can be a struggle to get past the "market must know something I don't".

In my case I just bought the day before consolidation but it's only 1% of my ISA.

So the "market must know something I don't" still had an effect on me.

It's a bargain end of!

I stopped investing in July as its nearly 50% of my ISA.

Oddly it is staying around the same percentage for about 6 months.

My isa is almost entirely a mix of private equity and renewables.

There are some stunning bargains about. Specially in those 2 sectors.