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Mithras Inv.Tst Share Discussion Threads
Showing 226 to 249 of 250 messages
|seems like there is plenty of stock available within the spread after that announcement; a little disappointing that the NAV at 31st Dec is being used when it's likely to have improved.|
|MITHRAS – the magic money tree that keeps on paying. Looks likely to be a 30% Tender @ c217p.
That 217p compares with the Dec’16 NAV of 221.2p and a likely current NAV in excess of 225p; so perhaps they’ll consider making it at a higher figure later on…
“…the Board is pleased to announce that it is currently preparing for its sixth tender offer, which is expected to be for no less than GBP9.2 million and should be completed, including obtaining approvals and receiving tender offer requests, before Friday 5 May 2017.
The sixth tender offer will be priced at net asset value less costs, which are expected to be in the region of 1-2% of net asset value”
|Perhaps not! 20% of the portfolio of £26m = £5.2m. Less £1.6m, so possibly still £3.6m running for us..
"As at 31 December 2016, the MCF portfolio comprised 38 underlying investments with the largest investment, AdvancePierre Foods equating to 20% of the MCF portfolio (although the Company received a further distribution of GBP1.6 million from MCF in February 2017, following a further sell down of shares post IPO)."|
|Yes, APH now at $30.42 - but I'm assuming most, if not all, will have been sold in the IPO and later.|
|Just spotted Advance Pierre's (AP) results from last week:
Stock is now trading at an all time high: If AP still represents 20% of the portfolio it will be a nice addition to the NAV|
|SKYSHIP - Thanks for the swift response and taking the time; I will take a look at each of them and may see over on the other BBs|
|Twixy - other PE trusts in liquidation mode are:
# Candover (CDI) - has been an appalling investment; but the shares became oversold down to 90p. Now that the assets are finally being realised, quite reasonable values are being achieved and the shares have recovered to 121p versus assets though to be c155p. May be more to go for.
# Dunedin (DNE) - problem here may be the extended timescale of possibly another 6yrs; also the Scottish aspect which I view as a bear point. Sp = 330p versus NAV of perhaps 490p. You need to read, research and assess the likelihood of both values and timescale
# JP Morgan PE (JPEL) - easier to assess. Capital being returned through payments upon portfolio sales. A US$ play. Sp 127c versus NAV of 151c.
Other threads to follow are the "PE" thread (Private Equity) and the "SL" thread (liquidations).|
|Just joined you all here with a small holding, which was not easy to get and paid above the spread (2 x 2000).
SKYSHIP, rambutan2 - are there any other investment trusts in rundown mode you could recommend I take a look at?
Thanks in advance.|
|Needless to say, absolutely delighted with those Finals. So much so that even though already well overweight, I bought another 5k @ 192p this morning.
RAM first suggested these 5yrs ago, talking of a possible NAV of 200p. I first bought at c102p and the holding has varied many times due to the profitable tenders. Now the NAV is at 221.2p and still climbing...
They are now 192p-200p; and still a good buy ahead of the next tender.|
|So, hopefully, 20/25% tender at 221 within next few months.|
|Nav 221p - and rising.|
|MTH has flat-lined for the past 3months as we count down to the Finals to 31st Dec'16. Last year these were on 2nd March, with a tender announced a little later on 24th March.
2nd March is now just 4weeks away. I'm hoping that we will see yet another NAV uplift; and the next Tender announced at the same time.
I'll start the bidding with a 25% Tender @ 210p...but today's buyer of 4k @ 191p may be hoping for better!|
|RAM - $27 OK for AFPH; but could you explain the "2 down, 5 to go" comment as the link doesn't make that clear. Thnx...|
|Oaktree selling first post IPO block of AdvancePierre (at $27):
|Another two down, five to go from...
|AdvancePierre moves on to a new high of $28.70. May have been sold by now of course.|
|Sky, I do hope not. We are only just hitting the sweet spot in nav per share uplift. Fewer shares means greater returns, much greater, as the younger part of the port matures. Remember, Pomona, which is the obvious buyer of MTH, only bought its 50% stake in the underlying in july 15. It wasn't buying into a tail. imho
|By Dunedin Enterprise perhaps? ;-)|
|IMS out. Doesn't reveal much other than their holding in AdvancePierre has been reduced and the cash balance as at 30th Sept'16 now up to £4.1m.
It does occur to me that with Net Assets now below £30m; and possibly destined to reduce further to c£22m after the next Tender; might the Board now not be receptive to a takeover as a sure way of completing the task in hand.|
|RAM - great stuff.
Incidentally, after yr 200p f/c now c 5yrs ago, that 250p has to be a given in my book!
|Has also been talk earlier this year of sale of Cyanco, which third largest stake:
|PAI V has still got five or six cos and good potential for write ups:
|And fifth largest in port could also soon be a leaver:
That would leave Riverside III nearly dry: