Geiger Counter Share Discussion Threads

[bountyhunter] 24/4/2024 21:54

I sold some YCA to fund subscription rights on the basis that the price here has been depressed up to a point relatively speaking with GCL holders selling here to fund their subscription rights.

[donald pond] 24/4/2024 09:24

I ended up selling a portion of mine to fund the subscription, increasing my holding by 4-5%. It may be that others have done the same, in which case the repurchase scheme effectively acts as a form of distribution to those who wish to take up the rights without adding more cash. Which is good for everyone

[dogberry202000] 24/4/2024 09:15

Quite right, greedfear. I've misunderstood this pricing point for some time!

[2xs] 23/4/2024 17:09

Repurchasing shares at a discount is accretive to NAV

[arbus5000] 23/4/2024 16:33

...but repurchasing shares at a discount should be accretive to NAV...

[greedfear] 23/4/2024 16:32

The share price isn’t relevant for next years subscription rights, subscription price will be based on NAV 1st may 2024.

[quepassa] 23/4/2024 16:11

Good question.

1. I believe the answer is no - as the purpose of the subscription is to raise fresh money by issuing new shares.

2. It is interesting to note that the formal Subscription Agreement still says that all shares purchased by the Company are to be cancelled.

I don't know if they ever amended/varied (or needed to amend/vary) the formal Subscription Prospectus to be found on the ncim/geiger website homepage when they put forward AGM resolutions in late 2022 to allow the company to purchase shares and for them to be held in Treasury.


all imo. dyor.
qp

[mbev] 23/4/2024 15:50

Newbie question - can they use the shares in treasury for the new shares issued as subscription rights?Or would that not be beneficial?

[dogberry202000] 23/4/2024 15:02

There are reasons for doing this. One is to create a solid price for next year's subs. The discount against NAV is too big.

[kaos3] 22/4/2024 19:49

golden cross on 1 m chart

[7kiwi] 22/4/2024 17:48

I am all in favour of buybacks, but buybacks in the middle of issuing subscription rights makes no sense at all.

[walter walcarpets] 22/4/2024 15:41

About time too! Lets get this properly valued now.

[arbus5000] 22/4/2024 15:35

that makes sense, where else can they buy a handpicked basket of uranium stocks at a 40% discount?

[steve73] 22/4/2024 15:16

Who was it wanted buy-backs?

Geiger Counter Ltd Share Buyback

[bigtbigt] 17/4/2024 19:34

My broker (IG) failed to inform me of the subs offer last year, so I missed out. My claim for compensation was rejected! So this year I have been chasing them every day for 2.5 weeks, and only today did they provide the option on their platform for GCL holders to subscribe.

[steve73] 17/4/2024 02:53

I had a few GPM subs that I didn't convert a few years ago, but despite there being a reasonable "profit" in them, I only received a small fraction of a pence for them.

If you don't want to pony up any more cash, it'll be better to sell some now to pay for the conversion... at least that way you'll end up with more shares (although a lower overall percentage holding).

[lcwanderer] 16/4/2024 12:24

Personally, I'm buying my full entitlement.

There's no guarantee of receiving cash in lieu of taking up your options. I did consider selling some of my existing shares to cover the cost of the sub shares and banking the difference, but if you believe in the case for Uranium and that GCL's horrendous discount to NAV will eventually narrow, it's a good opportunity to increase exposure at low cost.

[dickiehhh] 16/4/2024 10:13

What's everyone's views on the relative merits of taking up the subscription rights ?One the one hand it seems a no brained as the subscription price of 37p ish is way below current market price of 50+ and even more below NAV. (Of course the market price and nav could fall but unlikely within next few weeks esp given tight uranium market)However - as far as I understand (27th March 2023 circular) if the subscription rights are not taken up then the trustee will sell these rights in the market within 14 days albeit "with no guarantee that such a sale will be possible" and "net of costs"Hence if we don't take up subscription rights then we should get the cash instead but what's everyone view on this?? then we should get cash

[kenmitch] 12/4/2024 17:01

Why go for buybacks if believing that uranium shares have a lot further to go? It’s FAR better for GCL to invest in some of those instead of resorting to buybacks. Also a lot of Trusts that spent a lot on buybacks are disappointed that the discount did not narrow as they had hoped, and in some cases widened even further. So there’s a growing debate in the industry about the effectiveness of buybacks.

The GCL discount is wide partly because of the subscription share offer (a no brainer to go for it if eligible) and is very likely to narrow again as the new shares in issue get absorbed.

[arbus5000] 12/4/2024 16:29

there's no point in demanding a wind up on short term underperformance of GCL, it will improve when interest returns. its a useful vehicle to have with an exposure that is quite niche!

they should use the proceeds of the subs to fund buybacks if the discount persists.

[quepassa] 12/4/2024 15:07

Cameco is +4% and makes a further new ALL-TIME-HIGH at US$52.50 in today's session.

[quepassa] 11/4/2024 17:23

Bellwether Cameco .

Prices

1/2/24 US$51 (all time high)
13/3/24 US$40 (sector slump)

Today. Cameco back to $50 and looking set to make further new all-time-highs .

All imo. Dyor.
QP