Asset Management Investment Share Discussion Threads

[tiltonboy] 26/10/2010 08:47

oniabsta,

Happy with the terms. I have been a long term holder and have enjoyed the dividends, but as they will diminish substantially from 2011 onwards, now is an ideal opportunity to exit.

tiltonboy

[oniabsta] 26/10/2010 08:33

Tilton boy
Any comments? I think it looks like a good deal.

[jimbo3352] 20/4/2010 10:49

I've held this share for some years and bought a few more this morning. I'm not sure why they suddenly sold the entire holding of CLIG. I do think the discount to NAV is a bit overdone as the only significant variable is the valuation of IFDC. Mr Robb certainly seemed to take an axe to this in the last accounts chopping of c£5m I recall. I'd been waiting to have a look at the 2009 accounts of IFDC UK and while these show a drop in profit of 25%, the company still managed to increase its assets by £2m to £9m made up mainly of cash. More interestingly, there have been no dividend payments up to IFDC SA for several years so presumably there is cash available to buy out AMIC's minority holding. The 2009 accounts of IFDC SA are not due for another couple of months based on previous years' filings but it will be interesting to see them if only for the dividend payment (Luxembourg filings are less than transparent). I suspect there will have been a recovery in the latter part of 2009.

[ianbrewster] 20/4/2010 09:24

I see that all of the CLIG holding has now been sold. More cash in the bank for share buy-backs or return.

[oniabsta] 15/4/2010 16:01

Great timing!

[bitochon] 18/3/2010 16:11

Many thanks

[tiltonboy] 18/3/2010 15:16

B,

They will return capital to shareholders. The shares still trade on a decent sized discount to NAV, and I would be a buyer in the late 50's.

All depends on what happens to markets, and whether they can sell the other holdings. They have sold a few CLIG recently, with the proceeds being used to buy-in their own shares.

tiltonboy

[bitochon] 18/3/2010 13:41

TITONBOY.

On 5th November you wrote

"With the loan note of IFX redeeming in 2011, it would be nice to see the other holdings having been liquidated as well. After that, the revenue stream will be severly depleted."

Will they be returning capital to the shareholders or will the dividend yield just plummet? Do you still rate these as a buy?

Many thnaks,

B

[tiltonboy] 23/2/2010 10:48

Advance UK are winding up; they have got a big stake.

[ursus] 23/2/2010 10:02

? seller about?

[davebowler] 11/12/2009 15:48

Doh! Tanks are edging towards the drive then.It was the spike up that made me reach the wrong conclusion.

[tiltonboy] 11/12/2009 15:34

dave,

They have had the holding for years, and that notification is a sale of stock!!!

tiltonboy

[davebowler] 11/12/2009 15:32

Advance UK Trust plc buying a 12% holding is like having the big boys tanks parked on your lawn I think

[tiltonboy] 09/12/2009 17:44

dave,

Care to expand?

tiltonboy

[davebowler] 09/12/2009 16:42

Looks like we have a potential , enforced ,exit planned.

[tiltonboy] 05/11/2009 22:23

It's not going to help.

[asmodeus] 05/11/2009 21:52

Tilton - the CEO of CLIG (according to the Thread), has apparently stated his intention to sell some of, presumably his own, shares as soon as they reach 310p then 350p and then 400p.

Is this likely to put a meaningful damper on the shareprice from now on?

[tiltonboy] 05/11/2009 11:48

ursus,

I believe FUM at IFDC have fallen quite markedly, although dividends have held up. As IFDC still accounts for about 30% of the NAV, I worry that a further hit to the valuation might come. Looking further ahead, I'm not certain where the exit is for this investment.

I have asked the company to consider selling part of the holding in CLIG, but they believe the share price had further to go. I have reminded them that their mandate is to liquidate the remaining holdings, and not to take a view.

With the loan note of IFX redeeming in 2011, it would be nice to see the other holdings having been liquidated as well. After that, the revenue stream will be severly depleted.

The company are in their close period, and are unable to buy back shares. I would like to think that once the figures are out, and subject to a) the discount remaining, and b) stock being available, they will buy stock in.

tiltonboy

[ursus] 05/11/2009 11:18

thanks, tilton. what are the IFDC concerns? very much agree on the revenue flow, by the way - it supports the increased interim div easily. possibility of another special dividend this year?? am i right that they don't seem to have been buying back recently.

[tiltonboy] 05/11/2009 10:55

ursus,

I have picked up stock recently. CLIG have been doing well, but I do have concerns on IFDC. The revenue account still looks robust, and on a decent discount to NAV, they look good value.

tiltonboy

[ursus] 05/11/2009 10:53

time for another punt? yield becomes worthwhile at this level and the journey towards wind-up is growing ever shorter. i reckon (but don't know for sure) that it is poss to deal well within the current spread as there has been a seller for some weeks now.

[sponges] 24/6/2009 01:31

You are obviously right Tiltonboy I am still a bit primitive getting to grips with trading - anyway Tiltonboy I sold out this morning (23rd) as I have decided to look elsewhere and was only in for a few k anyway (a lot to me though!) - its been a pleasure and thanks once again and good luck for future
Sponges

[tiltonboy] 23/6/2009 07:06

sponges,

You obviously didn't spend much time looking. Click the news tab at the top of this page, and scroll down to the half yearly report.



tiltonboy

[sponges] 23/6/2009 00:44

Hello anybody there ?! - Anyone know if any dividend due in near future for this one can't find anything on web etc ? Tiltonboy ? (sorry to pick on you again !)
Sponges

[sponges] 13/5/2009 01:05

Thanks Tiltonboy