Member Info for UMNS

Does anyone have any insight into what caused the 12% rise yesterday? I didn't see any news / announcements?

More info from HL on BUR this morning. Note the in ability to trade for a few days.

Dear

Burford Capital Ltd: Important information about your shares

Burford Capital is in the process of adding a listing of its shares on the New York Stock Exchange. This will be in addition to the existing listing on AIM in the UK.

You don’t need to do anything

Due to the required process to obtain this dual listing, we’re required to make an election if we wish to keep the shares in the UK, tradeable on the UK stock market. You don’t need to do anything – we’ll automatically elect for you to keep your shareholding in the UK. This will ensure you can continue to trade on AIM in the UK and benefit from our lowest possible dealing charges.

There will be a short period when you’re unable to trade the shares

In order to ensure all trades are completed in time for us to make this election, you’ll be unable to buy more Burford Capital shares between 14th–16th October 2020 and unable to sell them on 15th and 16th October. The US listing is expected to happen on Monday 19 October – and from this date you’ll be able to trade your shares with us again on the UK market, although the exact time of day will not be known in advance.

We have based this information on our understanding of the documentation issued by Burford Capital. Nothing here is a recommendation. If you’ve got any questions please contact us so we can help.
Yours sincerely

I'm also sticking with AIM, mostly because I have all of the BUR shares in my ISA and with Hargreaves L.

With HL I can't set stop losses, kill or fill orders etc on US listed stocks (it's due to the currency exchange issue so they tell me), so as I find these tools helpful, I will be sticking with the UK listing

As for share price - given I was buying in at around 15.90 - 18 range, I'd love to get back to that to see a return to profit. Whether we will or not - not sure, but given a share price reflects both performance and popularity, I can see it happening if they deliver on the performance front and it becomes a "must have" stock as well e.g. if it starts to build real momentum.

Bought a few more today. Happy to accept the slight increase since I last bought as I'm planning on a 5 - 10 year time horizon in total, but may well sell if Mr Market gets v carried away just to take advantage of the price on offer.

Bismarck

I'm certainly no expert but here's my situation and approach (feedback welcome)

- Bought quite a bit in the 15.90 -18 range before the short attack. Didn't get out fast enough and I was sitting on a 60 - 70% loss
- Having spent quite a bit of time (between jobs) reading everything I could about the business, and seeing the Directors buying a lot, and that they predicted that 2020 revenue would be quite a bit higher due to delayed receipts, and there are good long term growth prospects in the industry, and governance has improved, I decided to buy in again around the 5.00 - 6.00 range, but this time I bought in my wife's ISA (so not averaging down my holding with the big loss)
- This allows me to sell them if I think they have reached a short term peak (like yesterday, when my stop loss was triggered at 6.92) and / or there is some sort of issue, without getting tied up with the larger loss in my ISA
- The gain I made on these was within a few thousand £ of the loss I was sitting on so I am slowly averaging myself back into a neutral position overall but I think this approach gives me more flexibility given the uncertainty on the broader global economy, and US election, and sometimes panic stricken market
- I bought in again today in 2 tranches and will probably buy a few more as I think mid 8.00 - 9.00 is possible as we head towards the end of the year and we get more potential investors, and more returns on historic cases.
- Long term, I do expect to see a return to mid double digit share prices - as I think the basic business model supports that and arguably legal cases are getting more complex and more expensive, giving rise to more funding be needed
- However, whilst I think BUR has good long term potential, I'm now less willing to sit back and ride out multiyear cycles on any of my stocks, preferring to take profits when I think the s/p has peaked or Mr Market is being v generous. I can always buy in again, (thus missing out on a few gains and a paying a bit more commission) but I can't go back in time and get the previous high price on offer. Not doing this has cost me a lot of money over the years when shares peaked and then dropped below my purchase price (when I wasn't paying attention) and has never recovered...and I've now sitting on 50 - 60% losses on some shares with little signs of recovery.

Personally, I wouldn't sell now just to rebalance. US listing is only 17 days away....that could well trigger a 10 - 15% increase alone as US investors get onboard. The business also appears to have positive momentum in terms of performance now as well.

Bought a few on the way down today...will keep adding to my position over the coming days in advance of the US listing date. In for the long haul

rocker1

Thanks for heads up on ITX. After a decent amount of personal research I opened up a small position

Hi

Just joined properly after months of reading the posts.

I'll also listen later as well.

I originally bought in at the 16 - 18 range and was then hammered when the short attack hit. I've held those but bought in again about 5.10 to 6.00 in my wife's ISA. My stop loss triggered at 6.92 today after the price dropped from the 7.40 range. These gains nearly offset previous losses.

I expect a few days of gradual decline now, as the dust settles, but I'll be buying in again before the US listing date, when I expect that to act as a catalyst for another increase.

I've had the luxury of time these last few months as I'm waiting to start a new job and I've taken the time to read everything I could about BUR. I think the business model is compelling, and the returns look v attractive. There is key person risk and there could well be some lumpy revenues along the way, but I think the long term play here is v positive

Hi all

I've just joined the forum (after months of just reading) and I bought into ITX today after a couple of days of research. I found the business when someone on the CRODA board mentioned them.

I'll see what October brings on the price, but I've cash to hand and may well buy more.

By way of introduction, I'm London based, had a 25 year career to date (mostly running large business transformation / turnaround programmes - 12yrs with Accenture, 8yrs with Standard Chartered Bank, and 5 years running a small bio-tech business). I've had a handful of angel investments over the years and tend to buy and hold for the medium to long term with listed business'.

Thanks to everyone for the insight shared on ITX to date. GLA