Quayle Munro Share Discussion Threads

[stevie blunder] 04/4/2018 15:21

Thanks Mick, that pays for the new kitchen! ;-)

[joan of arc] 04/4/2018 12:55

Stevie

You should get a letter in the post tomorrow as it is now a done deal. First payment of about £9.80 and a later one of about 40p.

[stevie blunder] 29/3/2018 15:56

Yes I cant help thinking that the pressure is on to wind up QMM as well.

I hope at least we will get an interim statement from QMM and QM Cap Partners in May with some info about how Morris is performing, (Morris's year end is 31st Mar) and some info of the other small holdings.

Fingers crossed.

[joan of arc] 29/3/2018 12:01

It would be interesting to see what plans they now have for the rump

[stevie blunder] 29/3/2018 08:46

Hi Mick,
I dont think I know much more than you!
The meeting was delayed 3 times because they hadn't got approval from the FCA as I am sure you know.

Since there is no new Notice of Adjournment on the website I would assume that the meeting went ahead yesterday.

I would expect a new announcement will appear on the website today sometime.

Hopefully it all went OK, if nothing appears I'll email Simon Woolton and ask what the score is

I hope we soon get an indication of the timetable on the cash return :-)

[joan of arc] 28/3/2018 18:08

Stevie

I just went into their website and saw that the general meeting to put the A shares into liquidation should have happened today.

Have you been following events? If so what do you know that I don't?

[stevie blunder] 07/12/2017 12:46

Thanks Mick, appreciate it!

[joan of arc] 07/12/2017 11:10

Stevie

I have got a lot on my plate today so don't have the time. Just to say no great surprises. I'll probably send you an email instead so I can make more personal observations.
I'll get back to you.

[stevie blunder] 06/12/2017 19:51

Any revelations from the AGM?
Im just reading the presentation on the website but was there any gossip ;-)

[joan of arc] 04/12/2017 17:36

Well, Looks like I'll be the only shareholder there.

[stevie blunder] 02/12/2017 09:29

Hi Mick,
I've decided not to go to the AGM, too much on. I'll read the presentation when it comes on the website.

Sorry about that

Steve

[stevie blunder] 21/11/2017 19:41

Not decided whether to travel down
Buried in the demerger document was a promise to have a presentation in Edinburgh
That would obviously suit me better and save a bob Or two!
I should know by the end of the week

[joan of arc] 21/11/2017 19:26

Having looked at all the documents I see that the meeting starts at 1100. If you are coming will you travel down the night before as last year?

[joan of arc] 21/11/2017 17:51

Within minutes of writing the previous post I got the proxy form in the mail. The AGM is at 1215 on Dec 6.

[stevie blunder] 21/11/2017 15:51

OK AGM notice just arrived in the post, 6th Dec 12pm at the new offices.

45p final divi on the a shares and 3p on the b

But no sign of the results........

[stevie blunder] 21/11/2017 14:16

Hi mick
I’ve was in touch with them at the start of November
They said the results would be out “mid November “
They said in an later email that the AGM would be 6th Dec and the divi 15 December
They need ro give 2 weeks notice of the AGM and that is usually announced with the finals so they can’t really be any later than Thursday this week
Give them a bell. I’ve been emailing Jane Collins just find her on the website under support staff
Hope that helps

[joan of arc] 21/11/2017 13:30

Stevie

I can see no sign of an AGM on their website which would normally have happened this month. Do you know what's going on?

[joan of arc] 13/9/2017 00:05

Thanks Stevie
I've been out of circulation the last couple of weeks. I'll take a look over what you've got here over the following days.

[stevie blunder] 10/9/2017 10:33

I reckon it isn't that complicated in fact.
I am in the same position as you with a pre-delisting holding and a post de-listing purchase.



Post delisting and splitting into A and B shares I have used the Price Waterhouse Valuation as of Dec 2013 to split the cost of the A and B shares:

A shares 253p
B shares 263p

so cost of A shares 253/(253+263) = 0.49031
cost of B shares 263/(253+263) = 0.50969

Then I bought A shares at 291, and B shares at 314 in Jan 2107. So it is easy enough to get an average cost.

In my case my average cost is A shares 243p
B shares 254p

Next the proposed split gives:
B shares = 0ne-for-one QMM B shares value 463p
So nothing changes for the B shares, original average cost
just transfers to the QMM B shares


A shares+ One for one QM Advisory share value 390p
+ one for one QM Capital share value 26P

So for the QM advisory shares the cost is 390/(390+26) = .9375 x average cost of the A shares

and for the QM capital shares 26/(390+26) = .0625 x average cost of the A shares

And I reckon that is job done :-)

[stevie blunder] 06/9/2017 12:54

Hi Mick
I think You are right about the meetings in September being a formality so I have decided to just post the voting forms

I am thinking of going to the AGM

I don't have my paper work to hand because I am in Orkney for a few days but when I get back I can share my understanding of the CGT calcs. It will be a little complicated!

[joan of arc] 23/8/2017 18:14

Steve

I haven't had a minute to spare to look at it. I didn't even realise the meetings were separate from the AGM. I will take a look over the weekend for sure. But it gives me some comfort to know that you feel reassured.

Mick

[stevie blunder] 23/8/2017 13:30

Hi Mick,
It's quite a long read isn't it?
It is a very complicated way to arrive at a simplification! End result looks good, shares in 3 companies : making an exit from each part of the business possible one at a time. Maybe there is something in the wind?

Nice to see that they did another valuation, the uplift from December last year looks substantial. And also that HMRC have approved the deal so no CGT implications.

Good to see the Chairman's comment about this year's revenue being ahead of last.

Also looking forward to a payout from the B shares when the Morris loan note is repaid as intimated at the half year results.

So I am fine with what I have seen so far. Still reading through it though.

What are your first impressions?

I might go down to the Meeting in September instead of the AGM, not decided yet.

Hope all well with you

Steve

[joan of arc] 23/8/2017 12:19

Stevie
Have you seen the latest cicular to split the company? I haven't had a chance to look at it yet. Let me know what you think.

Are you going to the AGM again this year. It might be a good idea.

[galfredus] 29/12/2016 00:41

Thanks Steve, that's very kind. I'll try Simon first and will be in touch if he can't help.

Thanks!

G