Mithras Inv.Tst Share Discussion Threads

[jaws6] 08/5/2013 15:02

RNS looks good

[skyship] 29/4/2013 16:23

Paint still drying here...but at least this was a good bit of news last week...a 3.2% rise in Q1'13:

Net Asset Value

As at close of business on 31 March 2013, the unaudited Net Asset Value per Ordinary 2p share of the Company was 147.6 pence.

[jaws6] 21/3/2013 08:50

some trades today ?

[skyship] 13/3/2013 10:38

XD 1p divi today. Payable 24th May.

[skyship] 08/3/2013 10:34

Items of note from the 6th March Prelims:

1. The Company's cash balance as at 31 December 2012 exceeded expected outstanding commitments to MCF by GBP4.8 million.

2. Former Manager Adrian Johnson bought 50,000 shares since the y/e, taking his stake from 4.6% to 4.7%

3. Divi reduced from 2p to 1p – not really an issue in the light of the imminent first tender

4. NAV increased in the final Qtr from 139.8p to 143.1p

COMMENT:

# Qtr1'13 GBP weakness is likely to have raised that figure to 145p+

# The cash threshold for the first tender was stated as £5m – so we are likely to hear news on that tender very soon now. My guess would be before 31st March...

[jaws6] 01/3/2013 08:31

small tick up to 113 ?

[skyship] 16/1/2013 08:31

MTH creeping up very slowly, now 112p Bid - possibly the first tender in the offing...

[jaws6] 10/12/2012 14:06

ok
tks .looks good for 14 to 20 % tender offer

[skyship] 10/12/2012 13:36

jaws - a 1 for 7 tender offer, ie 14.28%, ie 5.18m shares @ 135p = £7m

[jaws6] 10/12/2012 12:20

does that mean 7 to 10 % tender offer at 135 or near
I think you right to say 1 for 7 at 135

[skyship] 10/12/2012 10:54

A bit of a spooky coincidence for me as I was going to post on exactly this possibility at the weekend; then was delayed with Christmas card writing...

My reference was going to be this sentence from the 7th Nov IMS: "On the basis of the accumulation of some surplus cash, the Company is now in a position to consider making its first return of capital to shareholders."

I was thinking that we may well see news of another disposal this side on The New Year; and a contemporaneous tender offer announcement – perhaps a 1 for 7 @ 135p costing £7m... All written down on my Daypad ready to post!

Reading today's RNS I may be being a tad optimistic; but we can clearly see that MTH is breaking out of its overly long catharsis and can now be considered in more serious wind-up mode.

GREAT NEWS; and should still be bought @ 111p...

[badtime] 10/12/2012 10:39

sky will be pleased

[jaws6] 10/12/2012 10:34

RNS out on tender

[alanji] 19/10/2012 08:37

Looks like your buy was well timed, Skyship - unless you moved the market on your own of course!
I am still not tempted to buy (that 70% exposure to Euro is off-puting) but will keep a continuing watch.

[skyship] 17/10/2012 14:12

I have a feeling that last week's appointment of Winterflood as the new broker will presage a Strategy Change before too long.

It could well be that Winterflood will have stipulated such before accepting the role; and equally it could well be that the new Board have already decided upon a change and the appointment of Winterflood is a tactical move associated with a policy change.

Of course, I may be entirely wrong; however I've decided to sell my residual holding in HPEQ and buy back in here:

Outlook

Despite the on-going economic uncertainty surrounding the Euro and the Eurozone, 2012 has been a positive year so far for the Company as it follows the realisation strategy outlined at the 2012 AGM. The success of the realisation strategy depends upon the investment of the remaining outstanding fund commitments, and more importantly, on exit activity from the existing portfolio. The Company has made good progress against these criteria. The maturity of the existing portfolio means that there is plenty of scope for further exit activity although clearly this remains subject to market conditions.

[skyship] 09/8/2012 07:16

Certainly not one of mine...

[praipus] 08/8/2012 17:33

Hi Skyship, well spotted. Any relation?:-) or any relation to NJG?

[skyship] 08/8/2012 17:29

Miriam Greenwood duly follows John Mackie - though 5p cheaper!
==============================================================

08 August 2012

MITHRAS INVESTMENT TRUST PLC (the "Company")

The Company was notified today that on Wednesday, 8 August 2012, Miss Miriam Greenwood, a non-executive Director of the Company, purchased 25,000 Ordinary 2p shares in the capital of the Company at a price of 101 pence per ordinary share, which are registered in the name of TD Wealth Institutional.

As a result of this purchase, Miss Greenwood's aggregate holding is 25,000 Ordinary 2p shares. This aggregate holding represents 0.07% of the Company's issued share capital.

[skyship] 26/7/2012 15:02

Good - but don't like 49% in Euroland. Also the NAV discount is not as good as many peers; and "approaching the point where it will be able to make its first capital return" is a bit like Waiting for Godot with MTH!

My investment here was my only mistake since buying into PE through HPEQ some two years ago, then wholeheartedly adopting the sector in Q4'11. Cut a small loss so as to buy into NRI; which I view as an HPEQ Mk2...

Have also bought back into PIN - a class act which yesterday pulled back to a 40% NAV discount level - though marked better on a few small buys today.

[pvb] 26/7/2012 12:20

From Mithras (MTH) interim:

"The Company_ has further improved its strong financial_ position and is now approaching the point where it will be able to make its first capital return under the realisation process."

[skyship] 08/6/2012 10:59

Pleased to see that one of our new non-execs has taken a few on board. Your turn now Miriam...

==============================================================
The Company was notified on Thursday, 7 June 2012 that on Wednesday, 6 June 2012, Mr John Mackie, a non-executive Director of the Company, purchased 25,000 ordinary 2p shares in the capital of the Company at a price of 106 pence per ordinary share, which are registered in the name of Tenon Group SIPP.

As a result of these purchases, Mr Mackie's aggregate holding is 25,000 ordinary 2p shares. This aggregate holding represents 0.07% of the Company's issued share capital.
==============================================================

[rambutan2] 11/5/2012 03:08

Sky, Mr Johnson is stepping back in order to help keep costs to the minimum. He decided that as the port is now effectively in run off he wasn't needed on a day to day basis. But as a major shareholder he will be keeping a keen interest on developments. Nothing to do with L&G, or any of the other big holders.

You say "big Zero" since the 2009 decision. I'd suggest you have a read through what's happened since then, also consider the macro environment, and decide whether that's a fair statement to make.

[skyship] 10/5/2012 06:46

Ram - the strategic update & change of direction to returning capital to shareholders was agreed back in 2009 - since then a big ZERO. Perhaps L&G are also getting impatient as from yesterday's statement it looks as though Adrian Johnson is leaving...

PS - thnx for the above link

[rambutan2] 10/5/2012 01:26

Skyship, I'm not sure what you're expecting, but MTH is certainly not one for a quick turn, more a gradual return of nav+ over a few years...

[skyship] 04/5/2012 14:36

End Q1'12 NAV 143.4p - down from 145.1p

Certainly on a slow burn fuse these...zzz...