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Real-Time news about Gateway Vct (London Stock Exchange): 0 recent articles
|colonel a: Gelp,
No comment, rather a question.
Why was the motion to allow GTW to buy back shares voted down at the AGM ?
With the share price well below the NAV and the implied additional value not yet inlcuded in the NAV this seems a very odd position to take.|
|rivaldo: Hello Gelp, you still around? The quoted holdings are looking pretty unhealthy except for OMG, though most of them I think are high quality (except for SLG which is a boom or bust option).
Intriguing price movement here the last two days for no apparent reason, except....well, firstly the NAV in the recent results was 47.4p compared to a 30p share price now:
And secondly, I keep an eye on the unquoted investments. Jacobs Rimell was written back up to cost in the last results, and it announced yesterday what looks like a mega tie-up with the Indian giant Wipro:
If JR was to pay off it would have a huge effect on NAV. I had a small holding here as a long-term punt on SLG, VEC etc but Jacobs Rimell now looks as if it could be the biggest winner of all considering it's valued at £930k or so on a m/cap of £4m based on 13.6m shares in issue.
Maybe worth a top up at some stage, particularly if SLG recovers or there's further news on JR.|
|rivaldo: Results out:
NAV at 30/9 was 53.6p. Not far off Gelp! Since then SLG's share price has gone from 18p to 22p now. The unquoteds have all retained their value AFAIK.
Will have to inquire about the SLG options, but normally these last for 7 years so maybe there's plenty of time left for them?
You'd expect a discount to NAV, but with a very low m/cap any decent run in SLG, VEC or PGB could/should have a disproportionate impact on NAV.|
|rivaldo: Hi Gelp. Yep, still around in GTW. This is a bit more of a long-term investment than I thought because of SLG! But GTW had 52p of NAV at 31/12/05, and with SLG well up since then, plus VEC, PGB and OMG all performing well my back of the envelope tells me NAV is now over 60p against a 37p share price.
If SLG starts to perform it'll be time to pile in. And looking at GTW's unquoted investments' web sites, they seem to have sharpened up their acts and are looking better too.
I think I'll start a new GTW thread when I get time.|
Gateway Vct share price data is direct from the London Stock Exchange