Alternative Asset Opps Pcc Share Discussion Threads

[langland] 09/11/2016 23:40

The 54p is based on a fx rate of 1.25. Since the announcement and post Trump the rate has for most of the time been below 1.25. Based on the timing of previous transfers of the policies I would expect another announcement tomorrow of another lump of policies. 54p looks pretty well nailed on to me.

[papy02] 09/11/2016 22:48

With over 50% of proceeds still to come and be exchanged to £, the 54p must be hostage to the post-Trump $ ex-rate?

[poacher45] 09/11/2016 22:30

The forecast has now been raised by the company to 54p.

[praipus] 02/11/2016 17:04

Hmm not that uncommon I try to track all Weiss trades (and post them, when I get round to it) on the WAM thread. Worth a look if you like liquidation arbitrage.

[langland] 02/11/2016 09:55

Curious to see Weiss increase with the end so close at hand.

[papy02] 13/10/2016 10:27

Wexboy update today:

"With most of the consideration now in escrow & a successful EGM approval, the company will shortly propose a wind-up to yield an estimated GBP 54.4p per share capital return (reflecting a 1.2191 GBP/USD rate) for shareholders. "

[papy02] 11/10/2016 16:49

Many thanks. I just top sliced a few at 52, to mitigate fx and other risks. Spoke to the company today - expecting RNS tomorrow with the timeline for liquidation EGM etc. First payout by liquidator sounds like early Jan.

[cockerhoop] 11/10/2016 11:16

It was a tweet, so very brief!

Alternative Asset Opportunities $TLI:LN sale of portfolio approved: … I now estimate a 53.6p wind-down NAV...

[papy02] 11/10/2016 11:05

Hi - do you have a link (or can copy/paste) Wexboy comment plse?

Am wondering if he has deducted the 1.2p transaction and winding up costs.

A straight translation of the RNSed approx 51p gives 53.9p shareholder return at today's ex rate of 1.23 (vs 1.3 assumed in RNS). Actual depends how much of current cash is already in £, vs how much of the expenses are in £.

[cockerhoop] 10/10/2016 15:57

Approved - as if there was any doubt



Wexboy suggests 53.6p NAV

[langland] 07/10/2016 08:15

We can add another penny to my last post now.

[langland] 04/10/2016 08:29

Current fx rates add about 1p to the 51 at the moment. Of course, that can change....positive as well as negative.

[courant] 04/10/2016 08:14

lol! I'll settle for 51p in any case, though. Not quite a good as outcome as hoped for but it frees some cash.

[cockerhoop] 03/10/2016 20:14

Bloody typical now the policies have been transferred they start dropping like flies :-)

New owners more proactive! :-0

[cockerhoop] 13/9/2016 16:39

I bought in Oct 13 and Apr 14 (at an average of 38.85p) so could have been worse, especially when the COI issues arose - would have been easy to sell at a loss then.

I liked the lack of correlation with the stock market TLI exhibited along with the slightly morbid glee when a policy came to fruition :-)

[stemis] 13/9/2016 14:56

Well I bought for 40.67p in Nov 12 and have had 4p back so it would be 25% - 40% in 4 yrs. Probably the right thing in the circumstances but a bit disappointing on what I'd hoped.

[langland] 13/9/2016 08:57

Liquidation to follow. Estimated range 47-53. In the circumstances (ie higher COI) I am happy with that.

[papy02] 01/9/2016 07:11

B-shares schemes are still ok for offshore companies - LXB being a recent example.

[langland] 31/8/2016 22:21

I would imagine, if the issue of B shares is involved, that costs would be broadly similar to DREF. They always state the cost which is minimal.

[pldazzle] 31/8/2016 21:55

Sky - it looks as if this info isn't publicly available. Try asking the BOD perhaps? (Though you might find some very general pointers at Note 5 to the Dec 2014 six-monthly interim accounts.)

I stand to be corrected, but I believe -

-- that the 2p distribution was done via a part conversion to B shares which were then cancelled;

-- that so-called "B-share" schemes have since been stamped on by Osborne, so that the value received is now treated as a dividend and the capital gains regime is not in point. What I don't know is whether that applies only to UK companies, or also to offshore ones. But I suspect that, should they want to make another payout, they might want to think of a different way. In which case the costs of the 2014 exercise wouldn't be relevant anyway.

[skyship] 31/8/2016 16:01

IS - thnx, but only looking for the costs involved in the transaction - not the cost of the 2p/share payout.

[ironstorm] 31/8/2016 14:42

The cost of a 2p distribution was £1.44m.

Also annual premiums are c£6m which could fund another 2p and leave them with sufficient premiums for 12 months.

Personally I would prefer a share buyback to close the discount and leverage the NAV performance.

[poacher45] 31/8/2016 14:25

The costs are very low because there are only about 150 shareholders.

[ironstorm] 31/8/2016 14:21

NAV now over 52p with cash of nearly £7.5m once the latest maturity pays out.

and don't forget

"winter is coming . . . . "