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Gli Finance Share Discussion Threads
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|Been a bit late on catching up with the SMEF situation.
Given the need to sort out the Sancus loan big picture it makes sense and hence logical that the share price has gone up a bit.
There is time pressure if it is going to be done by the 15 March loan maturity given need to change asset manager and arrange the sale and I see since the announcement SMEF's share price has fallen to 89.5. I assume the Sancus loan would have to be extended even if this deal were to go through..
I see that in H1 16 [email protected] 50% owned asset management company-Amberton- had a £149k loss so the loss of the mandate will not be the end of the world- at the end of 2015 I seem to remember Edison were forecasting huge management fees from GLAF as it then was.
I need to work out how much of a loss it will be for GLIF not to have SMEF as a stuffee for their loans.
If I have time to do more catching up may buy some more|
|So going forwards, the main driver for future dividends depends on growth from the already profitable "Pillar one" Sancus BMS business.
From September statement:
"Pillar One - Sancus BMS Group - on a pro forma* like for like basis, increased consolidated revenues from GBP2.7 million in H1 2015 to GBP4.0 million in H1 2016. The period was notable for the consolidation of the Sancus group and its amalgamation with BMS and Platform Black to establish our speciality lending business. We anticipate that the combined business will provide strong cash flows for the Group"|
|Last of the guaranteed dividend payments. Then the revised dividend policy kicks in...
Underwritten placing and strategic update (9/8/16) - HTTP://www.investegate.co.uk/gli-finance-limited/rns/underwritten-placing-and-strategic-update/201608090700116011G/
The board of directors of the Company (the "Board" or the "Directors") announced in December 2015 that it was setting the dividend payable on the Company's ordinary shares at a level which would provide sufficient flexibility to ensure that the Company is able to support its rapidly growing platform assets and that it expected to pay a dividend of not less than 2.5p per annum on a quarterly basis.
The Board has resolved that the Company will maintain this policy up to and including the payment of a final dividend in respect of the 2016 financial year. However, GLI is a growing company with opportunities to invest and secure its position as a leading specialised FinTech lender. The Board considers that it is in the best long term interests of Shareholders that the FinTech platforms in which the Company remains invested, which are still in the early stages of development, should be allowed the time and the funding to develop their full potential. In light of this, the Board recognises that paying dividends in the short term should not compromise the opportunity to enhance shareholder value over time. Whilst the Company's objective is to continue the payment of dividends, from 2017, dividends will only be paid when fully covered by cash earnings (sustainable operating income plus returns from the periodic sales of investments) arising in any one financial year. This reflects a balance between ensuring that the Company has the resources to make the most of its opportunities to create longer term shareholder value and providing for the payment of a progressive dividend.
The Board recognises that this change in policy necessitates a change in the frequency of dividend payments, from quarterly to semi-annually (September (interim dividend) and March (final dividend)), with a weighting in payment towards the final dividend.
The Board will consider the quantum of the interim and final dividends as part of its half-year and year-end meetings respectively. This will allow adequate time for the assessment of cash earnings from GLI's operations (in particular the newly created Sancus BMS), and any asset sales.
Half Year Report (26/9/16) - HTTP://www.investegate.co.uk/gli-finance-limited/rns/half-year-report/201609260700107803K/
The Company expects to continue to pay quarterly dividends amounting to 2.5p in respect of the current 2016 financial year. As stated in the August strategic update, dividends going forward will be sustainable and covered by the cash earnings of the business. Further guidance for 2017 dividends will be provided at the end of the year.|
|4th Interim Dividend declaration|
|Some more comment on the proposal
The sale is not of the Company's core revenue-earning business. (Check the positive market reaction if you were at all concerned)
A glance through the last half-yearly report should help resolve any remaining confusion you may have.|
|So bang goes our divi?|
|The need funds to payoff a loan so are planning to sell their smef shares at 90p which is a 10% discount|
|not too pleased with this one|
Axa may be selling down. Last announcement they had gone below 5%.|
|... and another one?... or is devastating news about to break?
Incidentally, what is the position of GLIF in relation to AIM/IHT business relief? (assuming it survives for two years!)|
|... and here it is?|
|Look out for a shake in the next day or two to garner any closely trailing stops.|
|Glif long way to go Imo.....strong buy.|
|Going well here. I took a near 20% profit at 25p
I've set up a SMEF thread.
GLIF hold SMEF. It would be interesting to hear about the relative merits of both. Some posts before were suggesting SMEF is lower risk but with less upside than GLIF. I'm just wondering how low risk SMEF is. Most of their investments are secured which is good. Just wondering if I should buy more SMEF or even buy back into GLIF.|
|Got to hang in GLIF owe me 40p and I have 66,000 shares.|
|This shows a remarkable return since mid-November lows.
I assume further corporate action is expected before long.
Stock situation must be very tight with a premium being paid for many buys and some sells going through around mid-price.
The buyer is showing persistence - worth hanging in if you're a holder (imho).|
|All buys, up she goes👀✔;🙌|
|Good for you MD.|
|GC - good to see you are still in. I added yesterday on the back of those big holdings increase RNS and recent director buys|
|Neily675,That sounds good to me.I would gladfully take a 65p Takeover.|
|£65p takeover bid coming|
|I have a bad feeling that a takeover bid is coming. It would be good if some of the other instis increased their holdings to give a better balance.|
|I see that Somerston's Group shareholding is now 26.11%(inc Golf) virtually double the 13.45% holding at 22.3.16|
|looks like back to 30p+|