Share Name Share Symbol Market Type Share ISIN Share Description
Icg-Longbow LSE:LBOW London Ordinary Share GG00B8C23S81 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.25p -0.24% 102.75p 102.75p 104.50p 104.50p 102.75p 102.75p 73,330.00 16:35:01
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Nonequity Investment Instruments 8.4 6.7 6.2 16.6 111.20

Icg-Longbow Share Discussion Threads

Showing 51 to 75 of 75 messages
Chat Pages: 3  2  1
DateSubjectAuthorDiscuss
06/12/2016
08:50
Long time since I've been in these; but as I'm excessively long cash I decided the very recent minor fall provides an opportunity. Bought a few @ 103.5p and pondering whether to add. Anyone any views as to why these have fallen back....looks perhaps just to be one holder selling down his holding rather than anything that might startle the horses...
skyship
28/10/2016
15:40
27 October 2016 ICG-Longbow Senior Secured UK Property Debt Investments Limited (the Company) Portfolio Update The borrower under the Group's(1) RAEES International loan has completed a refinancing of the properties which provided security for the Group's loan. As a result, the GBP13.25 million loan has been repaid in full, together with interest, exit and prepayment fees of approximately GBP1.8m in aggregate. The proceeds of this repayment will be received by the Company shortly. The Investment Manager has an encouraging pipeline of potential transactions in which the Group could reinvest these proceeds, and will seek to do so in the manner most accretive to shareholders.
davebowler
14/10/2016
09:15
Liberum; ICG-Longbow Senior Secured UK Property Debt Investments Strong interims but returns likely to decrease over medium term Event NAV per share at 31 July 2016 was 102.7p per share which equates to a NAV total return of 5.5% for the six-month period. Returns have been ahead of of expectations because of prepayment fees relating to the Mansion and First Light loan repayments. The portfolio comprises 10 loans with a weighted average LTV of 57.3% and expected gross IRR of 8.7%. The weighted average residual term was 2.3 years of which an average 1.2 years remains income protected. There is potential for further loan repayments in the loan portfolio over the next year as the income protection period reduces. The manager has indicated that the redeployment of capital over the medium term will struggle to meet the existing return targets as interest rates on senior loans are significantly lower than at the time of the IPO. The manager expects to bring forward proposals to update the company's investment policy to allow the company to reinvest repayment proceeds having regard to current market conditions. Liberum view Interim results for the period to July 2016 were strong with the company's income protection providing a boost to returns from early repayments. The medium-term outlook for the company is uncertain as investors face the prospect of moving up the risk curve to maintain the level of returns or accepting a lower return for deployment in loans with similar risk characteristics to the existing portfolio. The company trades on a 0.3% premium to NAV (5.8% dividend yield).
davebowler
22/9/2016
09:30
Distribution period: 1 May 2016 - 31 July 2016 Distribution amount 1.5 pence per share: Ex-dividend date: 22 September 2016 Dividend record 23 September 2016 date: Payment date: 14 October 2016
davebowler
20/9/2016
10:49
LBOW mentioned as cheap here -hTTp://citywire.co.uk/money/investment-trust-watch-did-svg-just-get-out-of-jail/a948979?ref=citywire-money-shooting-gallery-list
davebowler
05/9/2016
10:04
It's hard to fathom: comparison with SWEF is interesting, as it stands at a premium of about 5% to NAV and pays 6.5p. Its loans are also mostly subordinated, I think. I seem to remember that HSLE (similar to LBOW but not property lending) had a fairly low payout and consistently traded at a few percent discount to its NAV. People will chase high yield even at risk to capital these days.
jonwig
05/9/2016
09:34
Surely its the reverse, i.e. they have a portfolio of loans at above current market rate so the shares should be trading at a premium. Logically if in the future they push out loans at the current market rate they should trade at par (in respect of the new loans). Unless you take the view that the management fees are too high etc. If the new strategy is unlikely to result in the shares trading at par (plus providing a reasonable yield) then the correct answer on the continuation vote become very easy!
scburbs
05/9/2016
07:29
That's a reasonable conclusion. The management fee is 1% and these things can be re-negotiated, after all they only have 11 loand.
jonwig
05/9/2016
06:44
ok but I suppose if they go for the lower dividend yield option the shares will trade at a NAV discount maybe 10% which would give a share price of around the 90p mark?
orinocor
05/9/2016
05:43
The current objective is to make senior secured property loans which will enable them to pay a 6p dividend. As loans mature and new ones made, the interest rate looks likely to be too low given continued yield compression. The basic choice, then, is between targeting a lower dividend yield and going up the risk scale with unsecured and mezzanine loans. Of course, the continuation vote may not be passed, in which case the company will, presumably return cash and go into run-off. Personally I wouldn't be keen on the riskier loans path, as SWEF is already there, and I have a holding in that.
jonwig
04/9/2016
15:36
I took the paragraph below from the last results. What are the implications going forward? I'm tempted to buy but have no idea what LBOW culd potentially morph into. Any comments? "As referred to above, given the shortening residual maturity of the loan portfolio and recognising that current market conditions would not support the re-investment of loan proceeds at similar risk and return dynamics as the existing portfolio, the Board together with the Investment Manager and now Cenkos is reviewing the Company's longer term strategy. This review will seek to identify changes to the investment objective (whether in terms of risk or return) that would be required in order to allow the anticipated future loan proceeds to be reinvested as the portfolio is realised. Recognition of shareholder views on the trade-off between yield and risk will of course be taken into account. The results of that review will be communicated to shareholders in due course and indeed well in advance of the continuation vote in 2017."
orinocor
17/8/2016
06:16
Brewin Dolphin have been buying - for discretionary clients with a cautious-leaning portfolio, I guess. From below 5% to 5,478,965 shares, 5.0628% of company.
jonwig
07/7/2016
11:22
Investment Manager comments following Brexit and confirmation of NAV increase to 102.45p: 4th July 2016 ICG-Longbow Senior Secured UK Property Debt Investments Limited (the Company) "Following the "Leave" outcome of the UK Referendum on EU membership, we are now entering a period of volatility, uncertainty and adjustment in the UK which will affect the property investment and property finance markets. The Investment Manager has considered the impact of this outcome and remains confident in the underlying quality and resilience of the Group's security portfolio from both a capital and income perspective, given the senior secured risk positioning, diversification at portfolio level by sector and region and at loan level through exposure to predominantly multi-property or multi-tenanted security. In particular, the Group's 11 loans are underpinned by a security portfolio comprising 74 properties and 275 tenants (plus 325 hotel rooms) which benefit from the conservative risk metrics of 57.1% loan to value ratio and 174% interest coverage ratio, whilst each loan also benefits from strong financial covenants. The loan portfolio has no exposure to the Central London office or residential markets, which the Investment Manager believes may be disproportionately affected by the outcome of the vote, nor any imminent loan maturities. As a consequence, the Investment Manager believes the Group's loan portfolio to be well positioned to withstand any short term volatility and downside risk, whilst supporting the maintenance of the quarterly dividend payment." The Factsheet also confirms that the Company has declared a dividend of 1.5 pence per share in respect of the quarter ending 30 April 2016 and that the Company's NAV has increased to 102.45 pence per share following the repayment of the Mansion loan, together with associated exit and repayment fees.
wirralowl
13/4/2016
14:41
Latest stated was 102.1p (Oct 2015) plus 2.5p referred to in post #55 ... should be about 104.6p now. Loans are all secured.
jonwig
13/4/2016
14:19
This is no longer priced at a premium to NAV so decided to buy today at 102.5p for that almost 6% yield.
kev0856153
17/3/2016
08:27
Mansion loan repayment and loan redeployment - net result an increase of 2.5p in NAV. I was expecting that to be added to the share price at the open. Even taking account of lower yield (6.0 vs 6.5), LBOW is a bit cheaper than SWEF. It also has a higher NAV now than SWEF.
jonwig
16/12/2015
07:06
I'd forgotten there would be a continuation vote in 2017: The Board has appointed the Investment Companies Team at Cenkos Securities plc to act as their broker and financial adviser with immediate effect. Having regard to the likely maturity profile of the Company's investment portfolio and the current investment policy and objective, the Board will be undertaking a shareholder consultation via Cenkos and ICG-Longbow in early 2016 to ascertain the views of the Shareholders in anticipation of the continuation vote resolution to be put forward at the AGM in 2017 and in the context of prevailing market conditions.
jonwig
02/7/2015
06:12
RNS says factsheet to 30 April available. It isn't yet, but when it arrives, it should be here: Http://www.lbow.co.uk/pages/documents.aspx EDIT 8:50 am - it's there now.
jonwig
11/6/2015
09:08
The one before late?
badtime
07/6/2015
21:18
Although receipt of a quarterly dividend 2 months after the end of the quarter to which it relates isn't really early.....
stemis
07/6/2015
15:25
Surely this dividend is coming rather soon after the last one? Or was the last one late... ============================================================= Interim Dividend Announcement The Company is pleased to declare an interim dividend covering the period 1 February 2015 to 30 April 2015. Distribution period: 1 February 2015 - 30 April 2015 Distribution amount per share: 1.5 pence Ex-dividend date: 11 June 2015 Dividend record date: 12 June 2015 Payment date: 3 July 2015
skyship
30/4/2015
08:46
XD 1.5p today...PayDate 22nd May.
skyship
23/4/2015
11:27
Yields 5.66% @ 106p. Continues to tick the box for a small corner of my SIPP... Will continue to rely upon asset discount plays to push up the annual return to more acceptable levels. Currently at 34% in Private Equity trusts and 34% in propcos - many shared with badtime...
skyship
23/4/2015
10:15
Thankfully, a non-event ... All investments are performing to business plan with no covenant breaches. Barring unforeseen circumstances, we expect the Company to continue to pay a dividend in line with its target of 6.0 pence per share per annum whilst the portfolio remains fully invested.
jonwig
23/4/2015
09:49
Results and div then
badtime
Chat Pages: 3  2  1
Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P:42 V: D:20161209 19:26:00