Member Info for Steeltrader9

Well at least we have SABA on our side, I look forward to hearing their opinion.

Hopefully they will say no and push for a higher offer!

To me ST has lost all credibility. All he does with his investment tips that fail is recommend to sell when the price has already crashed.

I am not going to sell at the bottom and yes, the results today are very promising. The fund just needs one portfolio company to do well or get bought out and it will rocket (as long as there is not another fundraise in the meantime!)

As I thought, SABA now have more than 13%!

Just imagine how low the share price would be without SABA....

I don't understand why the market is surprised? Everyone knew about the outward yield shift in the industry and I expected a reduction in NAV.

SABA are probably stopping the price from falling further by buying more stock.

I know it isn't much but I visited 2 B&M stores around the Christmas period and thought it seemed quiet given how the board expect so much at this time of year so have sold out, I hope I am wrong.

They may be able to close the discount but I am looking to hold this long term and I think this will be a distraction for the board. Better that they focus on the investments.

I agree, in some funds like GSF & LABS I was glad to see SABA but not here.

I think the fund is doing a great job and don't need any interference or distraction!

Thanks for sharing, quite a strong reaction no?

The price didn't move like this when inflation has came in lower than expected.

Anyone have any idea what is going on? I have never seen such a drop from BSIF and there has been no RNS. It has moved as if there is short attack going on!

Have I missed something? Why the sudden search in share price?

Excellent news, it should shoot up from here.

Trotsky, take your chill pill.

It is just that Trostsky needs to take a chill pill and realise that some of us have jobs so don't have the time to stay on top of things as much as he does. Especially when you have a deceptive board.

Chill out Trotsky.

I read the report and know about the planned 2nd "special dividend". This was not originally the plan to pay it in two tranches and the company has already received more than enough to cover the 3p. That is why I am venting, because the company is being dishonest and it has been 3 months since the normal dividend but there has been no mention of that being declared, they are just covering it with the "special dividends".

Yes I forgot about the dividend now being 0.75 going forwards but the board are being deceptive.

Exactly, going back on their words and meanwhile cancelling the 1p dividend. So instead of the quarterly 1p dividend it is a 1.5p so call "special dividend".

The wording is as if shareholders are idiots, it is dishonest and offensive!

I agree, they board have been deceptive in this cancelling of the dividend and are not to be trusted.

I am 100% with RM and want to get rid of the board ASAP!

This is good news, Saba clearly think there is value here!

I don't know quite what they are going to suggest though given that there is already and extensive buyback programme...

I voted against RM in the EGM as I thought they were just being opportunistic but now am firmly on their side.

I think Cox and the board need to go after this clear overcharging and hiding of fees, even if it is not breaking the law it is completely immoral and I no longer trust the board!

Regarding your point about people leaving S3 and setting up, this happens with all agencies but the protection is that big companies (that take a lot of contractors) like to do business with big agencies.

I agree that the opportunity is in technology, there is massive investment and the money is in providing contracting which S3 is good at.

Plus markets like the USA is almost 10 years behind in terms of maturity of recruitment agencies compared to the UK.

AI is threatening low level jobs but SThree doesn't recruit low level jobs, if anything it is a boost for SThree as they focus on the high level technical roles which will be involved in creating and overseeing AI.

Having worked for SThree and now running my own recruitment agency, my observation is the biggest threat is from internal hiring but that only really impacts permanent hiring whilst SThree are 83% focused on contract / temporary hiring. Most companies who want a contractor do not want to deal with the hassle themselves and go straight to a big agency like SThree, this is where the money is and I believe there is a decent enough moat in terms of work.

Of course though, SThree is very susceptible to an economic downturn but at this price, I think it more that covers a downturn, this price is as if we are already in a deep recession!

As always though, DYOR.