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HWSL Hwsi Realisation Fund Limited

55.50
0.00 (0.00%)
19 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Hwsi Realisation Fund Limited LSE:HWSL London Ordinary Share GG00BYMYC345 ORD NPV
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 55.50 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
55.00 56.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 55.50 GBX

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Hwsi Realisation (HWSL) Discussions and Chat

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Date Time Title Posts
21/8/202015:42Hadrians Wall Secured Investments Ltd91

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Posted at 23/7/2020 17:17 by 2wild
apollocreed122 Not sure where you get 14p per share in cash from, was about 3.8p at 30th June.


SpectoAcc Guilty as charged,although have already made up the 1.8% by reinvesting 80% into AEWU on an 11% annual yield paid quarterly every 13 weeks.
Posted at 22/7/2020 16:44 by apollocreed1
Also HWSI have 14p in cash per share -why give this company to them on the cheap.

I just bought KKVL - it may also be ripe for a bid.
Posted at 22/7/2020 07:24 by spectoacc
GET IN! Had been waiting for spread to narrow to add still more, but delighted with this. Should arguably be nearer the last declared NAV (c.62p) but no having to hold for years:



· The boards of directors of HWSI Realisation Fund Limited (HWSIL) and Cubitt Trade Holdings LLC (Bidco) announce that they have reached agreement on the terms of a recommended cash offer to be made by Bidco for the entire issued and to be issued ordinary share capital of HWSIL.

· It is intended that the Offer will be implemented by way of a Court-sanctioned scheme of arrangement under Part VIII of the Companies Law of Guernsey (the Scheme).

· Under the terms of the Offer, Scheme Shareholders will be entitled to receive:

55.5 pence in cash for each Scheme Share
Posted at 17/7/2020 15:37 by 2wild
17 July update:
31 March NAV 61.20p
30 April NAV61.57p.
31 May NAV 61.97p.
30 June NAV 62.36p. Great value at over 50% discout to a rising NAV and has 14% of the share price in cash with another return of capital due by end of September.
Posted at 05/2/2020 16:16 by cc2014
I didn't get that far SpectoAcc.

I got as far as they had lent equipment to Dawnus (UK Constrution who went bust) and although HWSL managed to get the equipment back so claim no loss that was enough for me.

I keep up to date with UK Construction and anyone lending to Dawnus was lending either in the knowledge they were close to going bust or was incompetent.


My notes in the Arenesis, Entrade, BOFL,BPFL mess, suggest I think the fund manager was not appreciating the risk. My notes aren't that clear reading back though but as I said as I already losing interest in looking any deeper.

I moved on as it wasn't worth my time. I have enough high risk debt and don't want much more. Others may have a different risk profile than me. The remaining loans may be good or they may not but I have no faith in the manager.


Edit: Sorry to hear Lanardian. I'm afraid although Shares carries lots of very useful insight, I'm not sure they are any better as a stock-picker than a pin.
Posted at 05/2/2020 15:44 by spectoacc
I think there's value but agree re high-yield corporate lenders - a glut of them, a plethora of issues, and all going wrong without even a recession/depression/financial crisis.


In their (slight) defence, plenty has gone wrong and been worked through - SQN has dealt with a few already, Snoozebox I think, one AD already, and they'd claim Suniva, where it's all gone in their favour tho with no payout yet.

Problems seem to arise when the assets they're secured on are basically useless. Eg if AD is finished as a viable business model due to an increase in feedstock costs, what value an AD plant?

Generally, where things do go wrong, they get even higher yields - or else lose the lot.

Neither SQN nor HWSL look like they'll continue.

The one thing I don't recall on HWSL, and you may have found out - what's their average duration? On SQN ords it's a preposterous c.8 years.

(Many are claiming to be looking for different managers/possibly sell loan books, but what manager is untarnished? And who on earth would buy the loans?).
Posted at 31/1/2020 13:29 by spectoacc
"The Board is continuing its strategic review of the options available to it as announced on 9 December 2019, and anticipates being in a position to provide a further update in the New Year. This exercise will include a review of the ongoing role of Hadrian's Wall Capital Limited, with the overall objective of maximising Shareholder value. "

That was 17th December. Today is the last day of January. "New year"?

Had they planned to switch the manager to SQN I wonder?

Agree re possible length of time of run-off, certainly years not months, but the written-down NAV is c.82p, I fancy 50.5p is a reasonable price.

To say these corporate loan-ers are struggling atm is an understatement - SSIP likely to wind up, SQN/X facing a lost continuation vote next Nov, HWSL on its way out.

Imagine if we'd had a recession...
Posted at 31/1/2020 11:31 by chucko1
Is the loan book anywhere to inspect? Not investigated this one yet. Seems worth the time down at this price.
Posted at 13/1/2020 15:30 by spectoacc
Thought same when I read it BUT still doesn't justify the discount, even if the whole lot got written off (& they've provided for some of it).

Shows the dubious business model of all these lenders tho - "You owe the bank £1m, you've got a problem. Owe it £100m, the bank's got a problem".

Which was it who had to keep bailing out Snoozebox? SQN maybe?

But - still - I think a winding-up HWSL is worth more than this.
Posted at 12/1/2020 16:09 by spectoacc
I've noted before with P2P, SQN, HWSL, FCH's IT, & others - they've effectively come a cropper even without a recession! Or a depression. Or another financial crisis.

There's a whole generation growing up knowing nothing but ever-rising house prices, chronically low interest rates, and bailed-out stock markets, with no recessions/depressions/crises.

Will certainly be interesting at some point...

(But I still say enough is in the HWSL price already :) )
Hwsi Realisation share price data is direct from the London Stock Exchange

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