Share Name Share Symbol Market Type Share ISIN Share Description
Ashmr. Gbl.GBP LSE:AGOL London Ordinary Share GG00BYV0R619 ORD NPV (GBP)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -£0.105 -2.66% £3.845 £3.80 £3.89 - - - 0 16:35:26
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 0.0 -5.6 -13.6 - 139.20

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Ashmr. Gbl.GBP (AGOL) Discussions and Chat

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Date Time Title Posts
30/8/201600:12Ashmore Global Opportunities155

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Ashmr. Gbl.GBP Daily Update: Ashmr. Gbl.GBP is listed in the Equity Investment Instruments sector of the London Stock Exchange with ticker AGOL. The last closing price for Ashmr. Gbl.GBP was £3.95.
Ashmr. Gbl.GBP has a 4 week average price of £3.98 and a 12 week average price of £3.91.
The 1 year high share price is £4.02 while the 1 year low share price is currently £0.
There are currently 36,201,861 shares in issue and the average daily traded volume is 86 shares. The market capitalisation of Ashmr. Gbl.GBP is £139,196,155.55.
centipede: Thanks for that, Marben100 - makes sense, and explains why the share price hasn't gone higher.
rambutan2: I tend to the below view that the nav has growth in it... In October, the discount to NAV widened to 45%. We bought more of the USD class shares and established a holding in the Sterling class shares. I then wrote to the fund's Board in early November pointing out that "the Company's share price discount to NAV has widened significantly to 45%, making it a significant outlier (in a bad way) in the closed-end fund sector." I added that "this must be a major embarrassment to Ashmore, the manager who are a member of the FTSE 250 index and a leading investment manager in emerging markets" and "a major impediment to Ashmore raising new funds." I suggested to the Board that "in light of the very wide discount to NAV at which the Company's shares are trading, the ineffectiveness of the small share repurchases and dividend, and the disappointing NAV performance, we believe that the Board needs to take drastic action in fairly short order and that the Company should return capital to shareholders through tender offers, dividends or capital distributions in a tax-efficient manner until the original capital raised in the Company's IPO has been returned to shareholders." I am pleased to report that the Board listened and followed my suggestion. They went one step further and on 12th December, they announced a "managed wind down" whereby the Company's assets will be realised for cash over the next few years and returned to shareholders. The share price of the fund bounced as a result of the Board's announcement. We think there is still considerable upside for investors. The current NAV per share is just over $8 per share compared to a share price of $5.25. As recently as September, my main contact at Ashmore suggested that the Company could increase the NAV to $15 per share by the end 2016. We think that is probably too optimistic but if the fund can return $12 per share over 3-4 years during a managed wind down, that will represent an excellent return for shareholders based on the current share price.
rambutan2: Yes, wonder how much share price will jump on today's opening... Capital return strategy The Company's portfolio is at present invested approximately 85% in funds managed by the Investment Manager ("Funds") and approximately 15% in three direct investments. Approximately 70% of the portfolio is invested in Special Situations, mainly in five Special Situations funds, which by the date of the EGM will, where applicable, all have reached or be shortly reaching the end of their investment periods and in the three direct investments, which are all co-investments with the Special Situations funds. For those Funds which are still in their investment period, the Company may be required to make further capital commitments in respect of amounts which are currently undrawn. Conditional upon the approval of the Proposals by shareholders, the Board intends to distribute shortly after 31 March 2013 the cash and liquid funds currently available for distribution by the Company to shareholders by way of a pro rata redemption of shares at NAV. The Board will make subsequent quarterly distributions to shareholders once investments are realised and the proceeds of such realisations are received by the Company. The Board will make quarterly distributions, by way of pro rata redemptions of shares based on the Company's NAV at 31 March 2013, 30 June 2013, 30 September 2013, 31 December 2013 and quarterly thereafter, provided the Company holds cash or cash equivalent proceeds at such quarter end of at least $10 million. The Board may also make distributions by way of dividends or otherwise return capital to shareholders. The Board expects that approximately $60 million will be available for distribution to shareholders shortly after 31 March 2013, a further approximately $75 million will be realised during the following six months and, including the above mentioned distributions, in total approximately 50% of the current NAV will be available for distribution by 31 December 2014. The remaining portfolio is expected to be realised beyond this date and may take three further years or longer.
edwardt: well the board must be under some pressure to do something. the buy back is not working. they need a big statement of intent. No new investments whilst the discount remains at more than 15% for example. they use six year life llps to invest in and the last thing i want to see is realised cash rolled over when my money is held in a share price that bears little resemblance to the nav. I hope investors see that the underyling are not a bunch of distressed assets. the manager and the board need to offer better visibility on the financial progress rather than fob investors off with a one line comment about whether a holding is in front or behind plan. in short, i am well miffed but refuse to sell when i think there remains embedded value here.
janeann: i just dont understand what is going on here, and what happens as/if the share price goes on dropping?
gilston: But the share price has not moved, the discount has widened. What good is that?
Ashmr. Gbl.GBP share price data is direct from the London Stock Exchange
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