Asset Management Investment Share Discussion Threads

[davebowler] 07/2/2007 10:33

O.K. Tiltonboy.

[tiltonboy] 06/2/2007 11:50

dave,

Found the hard copy in the office. Thanks anyway.

tiltonboy

[davebowler] 06/2/2007 11:34

No, sorry ,I tried but only have a hard copy.You may have better luck.

[tiltonboy] 06/2/2007 11:15

dave,

Can you post the link?

tiltonboy

[davebowler] 06/2/2007 11:14

Write up this week in Investment Week complimentary about AMN.

[jimbox1] 26/1/2007 11:51

Results seem much as expected. In fact the management should be congratulated on the achievements of the past year. Now that the uncertainty over redemption of the ZDPs is well behind us and with some solid looking cashflows from the remaining investments, the present 20% discount to NAV looks excessive. No comment about further share buy backs though.

[oniabsta] 22/1/2007 09:14

Added another 5k this morning,not showing on trades.

[oniabsta] 21/1/2007 19:30

Tiltonboy,

Perfect, absolutely crystal, thank you once again for your clarification.

[tiltonboy] 21/1/2007 16:05

oniabsta,

Under previous accounting conventions, the company was forced to value certain quoted investments at a 10% discount, in working out it's NAV.

Under IFRS they no longer have to take that provision, except where the shares are subject to a lock-in arrangement.

The shares in IAM are not subject to a lock-in, so the valuation is now taken in full.

The shareholding in CLIG is subject to a lock-in( they cannot be sold until one month after the release of figures to 31st May 2007-likely to be September), therefore the value of their holding in CLIG is discounted by 10% in the NAV position.

Hope that helps.

tiltonboy

[oniabsta] 21/1/2007 10:53

tiltonboy,

Sorry you lost me on this bit :-

"they can no longer take a 10% provision against quoted investments, unless there is a lock-in. Therefore the holding in IAM is now valued at market."

and this

"However, the holding in CLIG has a provision of £675K, which would add another 3p to NAV when it is released, when the lock-in expires."

Is it possible to elaborate a little for the unanitiated?

thanks
oniabsta

[tiltonboy] 20/1/2007 22:58

oniabsta,

I picked a few up yesterday. T & G had a decent sized seller, but he has virtually finished.

Nice tick up in NAV at the back end of the week. The company are adopting IFRS this set of figures, hence the delay. As a result of adopting IFRS they can no longer take a 10% provision against quoted investments, unless there is a lock-in. Therefore the holding in IAM is now valued at market. However, the holding in CLIG has a provision of £675K, which would add another 3p to NAV when it is released, when the lock-in expires.

The figures from IFDC should be available in mid Feb, which may enable a further upgrade in it's carrying value.

tiltonboy

[oniabsta] 20/1/2007 20:58

Obviously a few are watching this share as we got buyers in after the uptick in price and just prior to the finals announcement.Thinking of adding a few more myself, although i have quite a large (for me) holding anyway. Will watch price action carefully, if nothing happens will wait to see what the finals bring.

[tiltonboy] 19/1/2007 09:15

Nice rise in the NAV to 125p yesterday.

[oniabsta] 19/1/2007 09:14

Am i dreaming? i thought i saw a tick up in the price :-)

[davebowler] 17/1/2007 20:04

CLIG up again today.

[tiltonboy] 17/1/2007 10:28

CWA1,

We know much about the finacial state of the company, as the NAV is issued on a daily basis. We know the dividends being paid on the quoted companies, and we also know the revenue stream coming in from FX Concepts.

The only thing we do not know about is the revenue stream from the other unquoted companies. Even then, a considered guess might give you a clue as to the level of dividend payout.

I am more interested in the statement, which hopefully will give an idea of the plans for the portfolio.

Still a happy holder.

tiltonboy

[cwa1] 17/1/2007 10:06

OK tiltonboy. I'll cut out the middle man ;-) How good will they be?

[tiltonboy] 16/1/2007 13:38

oniabsta,

You should have asked me!!!

Expected Friday 26th.

tiltonboy

[oniabsta] 16/1/2007 13:26

I e-mailed to find out when the finals were. Must say i got a response within
a couple of hours

Good Morning,

We expect to make an announcement on the preliminary results for the year ended 30 September 2006 before end of this month.


Regards


Bharat Bhagani

Company Secretary and Financial Controller

Asset Management Investment Company PLC

32 Ludgate Hill

London EC4M 7DR


Tel: [phone]

Fax: [phone]

e-mail: bbhagani@amicplc

[davebowler] 16/1/2007 10:08

City of London up again today-this is a cheap way in.

[tiltonboy] 10/1/2007 14:47

Only just spotted this:

The Company announces that it has agreed terms for the early repayment of the third instalment due on 2 July 2007 from International Foreign Exchange Concepts Inc. ("FX Concepts") pursuant to the terms of the Disposal Agreement dated 7 February 2006 between the Company and FX Concepts. Accordingly, $4 million was on 9 January 2007 repaid to Investec Bank (UK) Limited ('Investec') in accordance with the terms of the Investec facility agreement. Following this repayment, the outstanding amounts due to Investec are $8 million under the term facility and #4 million under the revolving credit facility.

It looks as if AMN took a small discount for early payment, but will have saved more in interest payments.

Without doubting the ability of IFX to repay, it's nicer to see the debt position coming down.

tiltonboy

[glynnef] 09/1/2007 17:53

Results should be interesting, espacially the 3.5p divi already announced. I wonder what the income will turn out to be for the year.

Perhaps there will be some other announcements at the same time ?

The share price has been flat for nearly 3 months, basically on lack of news I suspect.

GF.

[davebowler] 22/12/2006 15:04

NAV now 1.20

[oniabsta] 14/12/2006 14:06

Thanks tiltonboy, appreciate it.