Henderson Alternative St... Share Discussion Threads

[vraic] 27/12/2020 10:12

I contacted Gareth Morris FRP Advisory they are the liquidators.
Emailed him and had a prompt efficient reply.

Only way to keep informed.

[mw8156] 26/12/2020 20:39

How long do we wait, I wonder for the remaining money, and how will we be kept informed of the progress of the winding up of the Trust?

[vraic] 26/12/2020 17:45

First payment £ 2.41 Friday 11th Dec

[vraic] 23/11/2020 18:17

Tuesday I think last day this trades.

[rambutan2] 12/11/2020 20:50

I know it includes a stake in CBA, which I'm hoping benefits from a Biden related bounce during 2021.

[spectoacc] 12/11/2020 19:19

27th, so you've this week & next. Looks like 78% cash or cash-equivalents, £305k to wind up the co. But what does the remaining 22% consist of, and how easily realisable?

[vraic] 12/11/2020 18:03

HOLDERS NEED TO PAY ATTENTION CLOSELY
SEE TODAYS ANNOUNCEMENT .
CANCELLATION OF LISTING.IF PASSED
NEXT WEEK COULD BE THE LAST FULL WEEK OF TRADING.
VOLUNTARY LIQUIDATION IF PASSED
MEANS CASH PAYOUT TO EVERY HOLDER OF ONLY 80 % OF NAV
RUMP MAY TAKE A WHILE TO LIQUIDATE.

THIS IS MY READING OF TODAYS NEWS

DYOR

NOTE BIG VOLUME TODAY 306,809

[vraic] 15/9/2020 12:40

AGM WED 16 SEPT
Only one director still has shares and his holding
has been much reduced.

[jimcar] 27/3/2020 19:56

288p on 20/3 down from 304 one week earlier. So about a 30% discount.

[jimcar] 26/3/2020 18:09

Should be NAV tomorrow. I wonder how the hedge funds are doing.

[essentialinvestor] 26/3/2020 14:42

With a fair wind we should be nicely over £2 a share?.

[essentialinvestor] 25/3/2020 09:09

Bought some yesterday.

[rambutan2] 20/3/2020 22:17

Yikes! Am glad I changed my mind re holding for the wind up...

19 March 2020

Adjournment of General Meeting to be held on Wednesday 25 March 2020

Further to the announcement on 16 March 2020 regarding the General Meeting of the Company to be held on Wednesday 25 March 2020 at 10.30 a.m., the Chairman, with the full support of the Board, has decided to adjourn the meeting to a future date, details of which will be posted to shareholders in due course.

The Board, together with its advisers, has been monitoring the impact of the COVID-19 virus and the unprecedented market conditions that are currently being experienced.

The Board remains committed to putting before shareholders the resolution set out in the notice of General Meeting of the Company dated 24 February 2020. However, given the rapid onset of current market conditions and the likely outlook for pricing spreads, liquidity, and valuations across many asset classes, the Board has concluded that a change to an active realisation investment policy now would not be in the best interests of shareholders. The prices of many of the Company's investments are trading at much wider discounts than has recently been the case and it is likely that to achieve realisation in current market conditions even wider discounts may be required.

The investment managers will remain mindful of the Board's commitment to shareholders in the management of the portfolio through this current difficult period, recognising that this should be a short-term investment horizon. Active management should not reduce the liquidity of the portfolio and, indeed, where possible the investment managers would seek to improve the liquidity profile such that a future return of capital is more effectively facilitated.

Further details of the adjourned General Meeting will be posted to shareholders in due course which the Board anticipates will be when the current COVID-19 pandemic and the consequential turbulent market conditions have passed.

[spectoacc] 17/1/2020 07:00

@rambutan2 - am just going by the RNS:

"...During this managed realisation process which is not expected to last longer than two years."

But to be fair, yes, maybe they'll realise much of the value earlier than 2 years, and only the final rump to take that long.

[tiltonboy] 16/1/2020 22:14

Sold all of mine today. Opportunity cost for having to hold that long.

Amazed and delighted to shift my size. Averaged 298.1191p

[essentialinvestor] 16/1/2020 20:13

Congrats guys, looked at this over the New Year and decided against,
lovely quick result for those that bought around recent lows.

[spectoacc] 16/1/2020 20:10

Two years I believe they said, so not for me, but well done @rambutan2.

[riverman77] 16/1/2020 17:37

Currently trading around a 10% discount after today's leap. Not sure if it's worth taking a position - it could easily cost 5% to liquidate the portfolio, which doesn't look especially liquid, and the whole process could take up to a year. Doesn't really tempt, but maybe if the discount goes to 15%.

[rambutan2] 16/1/2020 08:04

I bought a few recently on a hunch that this was coming after seeing 1607 up its stake to high 20s...

The Board expects to post a circular to shareholders in the coming weeks which will seek approval for a change in investment policy that will enable our manager to sell the portfolio over a time period that will give it every opportunity to maximise asset realisation value. Subject to shareholder approval of the proposals, the Board will seek to return cash to shareholders through the realisation process and may consider a tender offer or offers as the portfolio is realised and will seek to adopt the most efficient method of returning that capital to shareholders.

The Company intends to maintain its investment trust status during this managed realisation process which is not expected to last longer than two years. At the conclusion of the realisation process, the Board intends to propose that the Company enter into voluntary liquidation.

[vraic] 09/9/2017 15:16

Gavin Lumsden writes all about HAST page 10 Your Money todays Daily Telegraph.

[tiltonboy] 26/8/2016 13:26

Tender for 10% of the equity coming up shortly, and a continuation vote in the not too distant future. With a new activist shareholder on board, the managers poor performance may not last too much longer. I know where I will be voting!

[luckymouse] 26/8/2016 00:30

lovely chart