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Juridica Share Price - JIL

Share Name Share Symbol Market Type Share ISIN Share Description
Juridica LSE:JIL London Ordinary Share GG00B29LSW52 ORD NPV
  Price Change Price Change % Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -7.25 -13.88% 45.00 44.50 45.50 48.25 43.50 48.25 133,456 09:54:22
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m) RN NRN
General Financial 0.0 -3.2 -2.9 - 49.82

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hession: Regrettably, the inevitable absence of a divi this year will continue to depress the share price IMO.JIL were obviously optimistic about the likely outcome of this case but look what happened. Therefore positive updates mean nothing until a fat wadge is paid out to investors. Sorry lads, those of us still holding might have a very long wait before the share price recovers today's fall.
jonwig: They've had arms firmly twisted by - mainly - Invesco, who realised they couldn't possibly divest their holding. Effectively they are bringing forward the 2016 discontinuation. The share price should rise some way towards the latest NAV, but actually realising that number won't be easy. The "5p dividend" is no such thing: it's a down payment of their capital realisation plan. I see no way it can have been paid out of earnings.
speedsgh: Will not be adding but only because am already at max allocation, otherwise would be. As unpleasant as last night's rns + the subsequent share price reaction was, it is the nature of the JIL beast + something I am comfortable with. The investment has served me well over the last 4yrs seeing as I am predominantly income focused. GLTA
guernseymoney: Possibly, but IC are still bullish on JIL and they mentioned that in the same article you refer to. Share price always seems to go like this until they announce what I hope is another fat dividend.
jonwig: The single hit takes NAV from about 120p to 102p so maybe not much further to fall tomorrow, on fundamentals. Sentiment might hit it more, though. EDIT: the RNS says 15.6p, so NAV is around 104p. Q3 update fairly soon. Agreed, they should have waited until tomorrow morning to announce, but they can argue that they were obliged to release the information as soon as they received it, as it was in the US time zone. The positives in the RNS might make a difference if the share price falls too far! NB. Marked trades don't suggest any large holdings were sold in the last ten minutes - the fall earlier in the month is a bit more suspicious!!
ptolemy: "Risk & volatility are two different beasts" True, but they're related via their sibling, Liquidity. He's absent. 0.1% (210k / 200mn) of shares were trade yesterday and the share price fell more than 7%. No one who bought in the last 9 months of 2014 are in profit in spite of the generous divi. I hold, but not impressed by management being so reluctant to engage with shareholders.
guernseymoney: Just had a read, am still bullish despite, like you say, massaging down expectations. I hope the cash generation continues and remain happy to pay/hold at a premium to NAV - I would like to think they can declare at least 10p this year. Share price taking a bit of a hit this morning, doesn't bother me, am here for the longer term.
davebowler: Investec; Juridica Investments (JIL) Half Year Results for the six months ended 30 June 2014 ¢ Returns: NAV +4.45% in USD terms to $2.11 per share. ¢ Dividend: Anticipated year-end dividend declaration of 20pps to be paid following 31/12/14. Post this distribution, the Company will have returned approximately US$101.3m to shareholders via dividends; totalling 58.6pps. ¢ Valuation: Fair value of the Company's investments at the period end was US$157.2m not including the cash receivable of US$53.5m, payable at 31 December 2014 ¢ Portfolio: There a number of cases in the portfolio coverage that have the potential to deliver significant returns which are detailed below: ¢ Case 5009-S: involves alleged theft of trade secrets and other contractual claims. Claimed damages are in excess of US$500m. Any settlement is expected to be for less than claimed damages. The case has not been set for trial but trial is expected to occur during 2014 or early 2015. ¢ Antitrust: Two cases that comprise part of the security for the loan facility made to Fields Law may complete or reach an advanced stage during the next 6 to 18 months. Each of these cases has significant damages claimed by their plaintiffs that, if awarded by a jury, will be automatically trebled by the court. Investec Insight ¢ At the current share price the indicated dividend represents a c.15% yield. This is following the pattern of dividends of c.10% for the last three years. Given compressed yields across the many sectors this is a significant yield and presents the opportunity to gain a degree of income diversification. ¢ Over the last seven years JIL has delivered an annualised return with dividends reinvested of c.11% over a period of significant general market volatility. ¢ Post 30/6/14 Sterling’s fall against the Dollar will have helped boost the NAV by c.4.7%, which puts JIL at a modest premium of c.6%. Given the high level of dividend, excellent track record, and positive outlook, we would expect to see further gains.
valhamos: jonwig "the current NAV involves the likely payout from current cases, each weighted with its probability of being realised." Yes I appreciate that. But it would be irrational to invest here on the basis that one was more optimistic than the company as regards these probabilities, hence the share price will trade around NAV - unless there is an expectation of the company taking on new investments. So judging by the share price there doesn't appear to be such an expectation - hence my reference to the comment about a "pipeline of investments". For instance we know from the recent report that there will be additional investments, the amount being the difference between the gross and net proceeds less the US tax on legal settlements (In some ways it's a shame an estimate of the amount of tax could not be given so we could get an idea of the amount of new investment).
speedsgh: jonwig - thanks for flagging that. shows that i should always read announcements myself rather than rely on comments from others prior to posting! Crystal Amber may still be offloading seeing as the share price appears to be struggling to match the cum-div heights of 12 months ago when the payout was 14p vs this year's 20p.

Juridica Most Recent Trade

Trade Type Trade Size Trade Price Trade Date Trade Time Currency
O 2,371 44.80 26 Nov 2015 10:16:39 GBX

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