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|Gateley Hldgs Daily Update: Gateley Hldgs is listed in the Support Services sector of the London Stock Exchange with ticker GTLY. The last closing price for Gateley Hldgs was 113p.|
Gateley Hldgs has a 4 week average price of 117.13p and a 12 week average price of 118.01p.
The 1 year high share price is 125.50p while the 1 year low share price is currently 94.50p.
There are currently 106,784,941 shares in issue and the average daily traded volume is 3,580,118 shares. The market capitalisation of Gateley Hldgs is £120,666,983.33.
|jonwig: Gateley plc and the Sport and Recreation Alliance have announced a new corporate partnership:
[Does international sport need lots of lawyers? Just asking.]
... expanding in Dubai:
GTLY share price expanding, too.|
|jonwig: maiken - we just have the same good tastes!
You may remember Chris Bogart, in one of the Burford videos, saying that the six (?) largest UK law firms would be FTSE 100 companies if they were PLCs. So the precedent is potentially very significant if it works, and the lengthy lock-ins here will ensure that all the participants make sure it works.
I agree very much with your summary of the investment case; IC is being cautious for the same reason the share price is apparently cheap. BUR spent most of its early life until this year in a similar position.|
|jonwig: IC reviews results and cautiously suggests "hold", owing to uncertainty about how the PLC status will turn out.
Gateley's share price is likely to be fairly stable given all 81 partners have signed five-year lock-in agreements, while management's plans to pay shareholders 70 per cent of post-tax profits should provide a strong, reliable forward yield of 6.3 per cent. But given the importance of the firm's transition to the stock market, we are happy to wait for more revealing post-IPO trading updates. Hold.|
Gateley Hldgs share price data is direct from the London Stock Exchange