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CRS Crystal Amber Fund Limited

74.00
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Crystal Amber Fund Limited LSE:CRS London Ordinary Share GG00B1Z2SL48 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 74.00 72.00 76.00 74.00 74.00 74.00 70,072 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Unit Inv Tr, Closed-end Mgmt -2.14M -5.58M -0.0723 -10.24 57.05M
Crystal Amber Fund Limited is listed in the Unit Inv Tr, Closed-end Mgmt sector of the London Stock Exchange with ticker CRS. The last closing price for Crystal Amber was 74p. Over the last year, Crystal Amber shares have traded in a share price range of 61.50p to 90.00p.

Crystal Amber currently has 77,099,500 shares in issue. The market capitalisation of Crystal Amber is £57.05 million. Crystal Amber has a price to earnings ratio (PE ratio) of -10.24.

Crystal Amber Share Discussion Threads

Showing 251 to 274 of 925 messages
Chat Pages: Latest  13  12  11  10  9  8  7  6  5  4  3  2  Older
DateSubjectAuthorDiscuss
12/6/2013
13:58
It's never too soon to take profits...

I'm letting mine ride though, so between us, I think we've covered all options?!

dashton42
12/6/2013
10:26
all a bit tricky for me - have top sliced a few. i suspect there will be some more good news from the portfolio which will make my decision look foolish!
edwardt
11/6/2013
13:02
As i've said previously I think the buybacks will continue to support the share price allowing a secondary issue of shares at around NAV. The newly issued shares are likely to be tightly held as they probably will be issued at a premium to the prevailing share price suggesting the institutional buyers are taking a medium to long term view.
My concern is if the buybacks then cease the discount may well widen again though I do accept that if the good investment performance continues along with the higher profile the secondary issue brings the perception of CRS may improve keeping the discount in single figures.

cockerhoop
11/6/2013
12:26
I notice that the buybacks have been continuing recently, but now it's more of a drip-feed of smaller purchases. I don't know if that's an indication that the buy-back program is drawing to a halt for now.

btw, Simon Thompson has revisited the investment case for CRS in Investors Chronicle today, and basically advises running profits, in the expectation that any secondary issue of shares will help to raise the profile of the company.

dashton42
11/6/2013
11:12
Except the facts don't really bear that out - the discount is almost exactly correlated to the buyback campaign:-

The discount was approx 20% discount through April-Nov 2012. A buyback programme was then initiated and the discount narrowed to approx 10% by 31/12/12.

Buybacks were then suspended until March and the discount again widened to 20% by 28/02/13. Buybacks were resumed and have continued aggressively to todays position of a low single figure discount.

Whilst the underlying performance has been good, it apparent in Jan/Feb of this year during the phase of discount widening as the buyback were turned off.

cockerhoop
11/6/2013
09:49
suspect you are right!
edwardt
08/6/2013
14:41
NAV was up 35% in 2012 and is up a further 13% in the first 5 months of 2013. Maybe good performance is something that has narrowed the discount.
agnes
07/6/2013
09:12
I think we're in a relative special situation here, I suspect Invesco would like a larger holding but are constrained by the fact they already own approx 30.0%. They may therefore be happy to purchase newly issued shares at NAV but clearly it would be much more palatable for them if the share price is close to NAV at the point of issue.

I therefore believe that CRS are being particularly aggressive with the buyback program currently to narrow the discount to successfully allow the issue of new shares which will obviously increase the total management fees they receive in the medium term.

IMO once the new shares are issued the discount may widen in the short term to more historic levels therefore I see more short term downside than upside at the moment with regard to the discount to NAV.

cockerhoop
07/6/2013
08:56
yes but surely in a illiquid fund such as this, the scale of the buyback has had a profound impact on decreasing the discount and increasing the market cap? Whilst this is welcome for a long term shareholder such as me, it surely increases the risk of this strategy as most trusts such as this trade at much wider discounts?? good nav update though!
edwardt
22/5/2013
12:52
Management fee is based on market cap which goes down every time there is a buy back.
agnes
22/5/2013
09:40
buy backs will help them increas their management fee - somewhat conflicted in my view..
edwardt
22/5/2013
07:16
Another chunky buyback yesterday. Thanks for the updated nav - was just going to ask!
dashton42
20/5/2013
12:23
I estimate the current NAV to be £1.328, THT obviously doing well.
cockerhoop
15/5/2013
14:41
Thanks Dashton,

I think it was actually LMS which also appears to fit the description.

cockerhoop
15/5/2013
11:40
To facilitate a successful fund raising at NAV, CRS surely have to do everything they can to narrow the discount in the run up.
cockerhoop
15/5/2013
11:35
Dashton,

Off topic but I know you follow ST in IC - has he just tipped NRI (I've just received an email from IC that could relate to them).

Many thanks

cockerhoop
15/5/2013
07:12
The buy-backs probably help, as well. Yesterday's was a decent size.
dashton42
14/5/2013
14:43
we will see but my guess is that the share price is reacting to the potential fund raise.
edwardt
13/5/2013
11:08
I don't know about that (although the share price seems to be moving today on something), but I've just noticed that Simon Thompson has recommended THT today in Investor's Chronicle.

This is a bit more relevant to CRS now, with their larger holding.

dashton42
13/5/2013
09:01
any further thoughts on the likely fund raising - it strikes me as odd but could well push us higher as and when details are released...
edwardt
10/5/2013
07:16
I suspect they do still hold some UTD, although they reduced their holding from 0.6% of the company in December 2012 realising a gain of 0.5m. As the holding is not declarable or in the CRS Top 10 it's impossible to say for sure the level they currently hold.
cockerhoop
09/5/2013
15:37
are we still in united drug??
edwardt
30/4/2013
21:08
My estimate for the end of month NAV is £1.279.
cockerhoop
30/4/2013
08:55
positive development at northgate with debt restructuring -albeit the fees invovled are eye watering.
edwardt
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