Member Info for Steeltrader9

These are all clearly pre-structured questions .... which means they are not answering any questions, they are just answering made up questions with prepared answers.

I can't believe how awful this is! These guys should be sacked immediately.

Who is this guy? He is just reading from his laptop or paper. I mean seriously???

This is one of the most dull presentations by a listed company, everyone sounds like they don't want to be there....

No wonder the company is going into administration, they can't be bothered!

What about the Pasofino offer!?

OK thanks

Does anybody know when GSF expects to receive the 60-80m US tax credit? Is there any chance or received it before the election as the odds seem to be leaning towards trump and he has said he would repeal the inflation reduction act.

GSF will tank if it doesn't receive the tax credits as the final dividend for this year then won't be paid. Has anyone researched this and understands the timelines?

Does anybody buy the excuse that the results were impacted by the restructuring and wet summer? Given all the sports such as Euros that should have more than compensated.

Not a good outlook but my shares are too low to be comfortable to sell, I might come to regret it....

CORD had a trading update on the 9th of February last year and they are rather consistent with their trading dates, so hopefully an update tomorrow or very soon with a positive update.

I really think this trust has been punished far too much for it's associate with DGI9, looking a bargain and topped up.

Not too bad with the update, at least HEIT is less exposed to ancillary services so less impacted that GRID, shame about the dividend cut though, I was hoping they wouldn't.

I just spoke with someone from the takeover panel.

The explained to me that the transaction is a purchase of assets and not shares, so it is not protected or covered in the same way as a takeover of the business. I asked them if anyone does and they said that sort of transaction is not governed and comes down to shareholders.

Basically RTW & the Arix board have shafted us and found a loophole as I thought they probably had.

All we can do is emphasise what a bad deal this is and vote it down when it comes to it.

I think if this doesn't get raised, it will be worth notifying the takeover panel - https://www.thetakeoverpanel.org.uk/

Sounds a good deal, however I would much rather that they fulfilled their buyback programme!

Very good point!

I just looked into this and read the following on a M&A Advisory site:

Equality of treatment

An essential requirement of the City Code is that all holders of securities of a target company of the same class must be afforded equivalent treatment. This principle manifests itself in a number of different ways, including a requirement for (i) all information to be made equally available to all shareholders; (ii) comparable offers to be made for each class of equity share capital; and (iii) no special arrangements to be made with any particular target shareholders.

You would have thought that the board and RTW would be aware of this though, so probably are trying to get away with it through a loophole.

Does anyone know what has happened to the share buyback programme? I can't understand why they would not be buying share at this level?

Unfortunately I agree, directors lie and commit fraud but get away with it.

I remember with the Quindell scandal 9 years ago that I was convinced that something would be done about it but Rob Terry was never prosecuted and carried on committing fraud.

The board are useless, they don't seem to think ahead or calculate future cash flow.

As we all know they made a massive mistake with Arqiva and should have capped the rates earlier. They talk about this inflation-linked swaps cap they have achieved as if it a great thing, I am not sure as it is still very high.

They should have reduced the dividend at the end of last year and stuck to it. Nothing unexpected has changed in the past 6 months but they choose to scrap the dividend now?

I have lost complete confidence is his triple point board / management, I think there should be a continuation vote and all assets should be sold.

You seem to be missing the point Alas_Smith, the management fee was 1.5%, then on top of that a performance fee has also been taken which is worth 9.1p NAV or 5.4%. Therefore the total % fee that management have taken is 6.9% - very high.

I worry for your investments if you don't think management fee is of interest when making investment decisions.

A bit patronising and assumptive , whilst I understand you may have a holding in AUGM and then get defensive, there is no need to respond like that.

I have been holding investment trusts for over 10 years and understand how they work thanks.

A management fee usually ranges from 0.4% to 3%, whilst AUGM's fee has been over 6%, that is very high and a serious inhibitor on the share price.

It would have been an amazing result if it were not for the MASSIVE PERFORMANCE FEE! A whopping 16,217,000 worth 9,2p NAV per share and almost wiping out gains!

I am going to sell when the share price ticks up as for me this performance fee is far too big and will inhibit growth, it is also probably a major reason behind the massive discount to NAV.