We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Register for real-time alerts, custom portfolio, and market movers
| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Euro. Islamic | EIIB | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 117.50 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 117.50 |
| Top Posts |
|---|
Posted at 12/5/2013 12:15 by safetymargin Latest Wexboy: |
Posted at 29/4/2013 12:41 by safetymargin This is a transformational set of results demonstrating substantial progress in the implementation of the new management's strategy at the one year mark. Highlights for me: - "Assets under management increased 53%, with strong support from new and existing clients" - "Staff costs at EIIB (excluding Rasmala) reduced from GBP5.0m to GBP2.5m and Other operating expenses reduced from GBP4.0m to GBP2.1m" - "Ongoing fee income now some 69% of total operating income" - "We have also attracted a number of significant new client mandates, including our first from the Government Pension Fund of Norway, representing the world's largest sovereign wealth fund." - Share buybacks in the pipeline [Shame it's not a tender offer though] |
Posted at 18/4/2013 13:47 by safetymargin Just bought in. Good write-up from Wexboy today: The following is worth highlighting from the interims: "Capital distribution Until recently EIIB was constrained in its ability to return capital to shareholders by the lack of distributable reserves. In July we addressed this issue through a reduction in the Share Premium account, transferring GBP20m to Distributable Reserves. We are now reviewing options for possible future capital returns to shareholders and expect to reach a conclusion early next year after having finalised our long term capital requirements in consultation with the regulator." |
Posted at 03/7/2012 16:32 by wexboy EIIB, my largest portfolio holding at 8.3%: |
Posted at 07/3/2012 07:23 by wexboy Hey folks,Just posted a fresh commentary on EIIB, and increased my portfolio stake: Cheers, Wexboy |
Posted at 17/2/2012 01:39 by wexboy Hi folks, I've included EIIB in my latest Catalyst article, where I look at 4 interesting companies/situations with activist investor(s) on board: Cheers, Wexboy |
Posted at 31/12/2011 13:42 by wexboy Hi Folks,I've included EIIB in my Baker's Dozen for 2012 see my latest blog post on: wexboy.wordpress.com Best of luck in the New Year! Wexboy |
Posted at 15/11/2011 00:51 by wexboy Folks,As I mentioned to mronionbahjee2 elsewhere, I've just launched a new value investing blog. My most recent post (plus a couple of others in the past few days)is about, yeah you guessed it...EIIB. If you have a chance, please check it out, and if you like the blog any recommendations/refe wexboy.wordpress.com Thanks & Cheers, Wexboy |
Posted at 02/9/2011 22:06 by wexboy actually HBG, a middle eastern funded private equity house (but they appear to be UK focused as they also hv an 11% stake in Northbridge), have now amassed a 15.6% stake in EIIB and have got 2 representatives appointed to the board recently - so i think you can certainly count them as an (activist) catalyst also, whether behind the scenes already or potentially in the future if things don't improve! |
Posted at 02/9/2011 20:44 by wexboy not sure if i've posted on the EIIB thread b4, but after adding to my stake (this has become a top 3 portfolio stock for me now) as price drifted back to GBP 3p level, i thought i'd post my updated fair value analysis:i) starting pt is latest GBP 143.076 mio Equity value, ii) for all negative cashflow cos (and investment cos with an expense ratio > 2.5% of NAV) i deduct 1 yr of (7.309) m estimated underlying cash burn, iii) fair value adjustment for diamondcorp, which i estimate at 1.772 m, and iv) fv adj for completed tritech sale, estimated at 7.194 m - equating to: 143.076 - 7.309 + 1.772 + 7.194 = GBP 144.733 m / 1765.659 m shares = GBP 8.2 p per share, a potential 179% upside from current share price one cd argue that cash burn and specific investments on the b/s argue for a haircut to Book for fair valuation purposes, but i'd point to the margin of safety (Price/Book @ 0.36, and Gross LTV of 19% which cd easily be eliminated with available B/S cash/deposits) & the banking licence (people are significantly underestimating its value in terms of potential future growth and/or takeover value) as reasons to set a basic 1.0 P/B target price i can't assess other potential fair val adjustments on the B/S, so i'll assume they average to zero - otherwise, one cn but hope that EIIB manage to reduce or eliminate cash burn with better returns/lower costs in 2011/future yrs... finally, i'm a little bemused by the ceo/board crowing about their investing success recently...in essence, all they've managed to do is hold equity steady for past 2 years! - i guess it cd be worse!? - however, tritech sale raises an interesting prospect, perhaps one that is going unnoticed currently: the board flagged a potential dividend for 2011... it wd have to be a final div, as tritech sale was nt completed for half-year end - this is quite an about-turn, as yr-end 2010 Retained Earnings were @ GBP 0.629 mio, leaving no real room for a dividend - obviously for year-end 2011 i'm projecting an unchanged Equity balance, but if you drill down to Retained Earnings, it shd reflect annual operating losses (which wd have precluded a dividend) plus full realized gain on tritech (remember that will be the 2010 AND 2011 tritech uplift) - overall, i reckon Retained Earnings will stand at a level that permits a maximum GBP 0.5-0.6p div who knows if they'll actually declare a max div, but why not? - in terms of the current share discount & B/S cash capacity, it's about time the shareholders got some value enhancement, and a div's cheaper to accomplish than another tender - so a potential 18.7% dividend yield is certainly possible! i'd make 2 pts abt this: i) nt clear if there will be any 2012 div capacity, so board may well characterize 2011 as a special dividend, and ii) obviously this div wd be a return of capital/reduction in NAV, so share price may adjust down to compensate - both fair pts, but don't underestimate (less value focused) investors' ability to salivate/obsess over current div yield and it may well draw in (more value focused) fresh investors alerted to the upside potential so, to recap, EIIB has a strong margin of safety, a potential 179% upside to fair value, and a (potential) significant current div yield as a catalyst (edit: plus, of course, the recently built 15.6% stake by private equity house HBG, with their 2 reps recently appointed to the board)! - good luck! |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Hot Features
Premium
