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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| North Atlantic Smaller Companies Investment Trust Plc | NAS | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 40.00 | 1.06% | 3,820.00 | 16:35:10 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 3,720.00 | 3,710.00 | 3,790.00 | 3,820.00 | 3,780.00 |
| Industry Sector |
|---|
| EQUITY INVESTMENT INSTRUMENTS |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 19/02/2024 | Interim | GBP | 0.685 | 29/02/2024 | 01/03/2024 | 28/03/2024 |
| 18/01/2023 | Interim | GBP | 0.22 | 26/01/2023 | 27/01/2023 | 24/02/2023 |
| 12/05/2020 | Final | GBP | 0.3 | 19/11/2020 | 20/11/2020 | 14/12/2020 |
| 21/05/2019 | Final | GBP | 0.3 | 30/10/2019 | 31/10/2019 | 21/11/2019 |
| Top Posts |
|---|
Posted at 06/12/2023 09:00 by p1nkfish Lastly, also illustrates what value might be hidden elsewhere and the conservative valuation in NAS NAV to which an extra discount is also added by the market.Mills and team will have a very decent cash pile to go hunting with. |
Posted at 15/9/2023 11:06 by pvb ...Sigh!As all the above is in the RNS release for this share, which is available via the News box at the head of this thread, could you not simply provide a URL to the document? |
Posted at 15/9/2023 09:27 by davebowler Chief executive's reviewDuring the six months under review the net asset value fell by 1.2% due entirely to the fall in the dollar relative to sterling of 4.4%. The Standard & Poors Dollar Adjusted Index rose almost entirely due to seven large megacaps to which the portfolio had no exposure. Performance compared against appropriate UK indices where the majority of the portfolio is invested remains favourable. The Trust reported net income for the period of GBP4,615,000 (2022 GBP462,000 loss). Consistent with prior years, no dividend is being declared at this stage although the Board intends to declare an interim dividend in February when the results for the year become clearer. Based on current expectations, it is anticipated that dividends in respect of the financial year ending January 2024 will comfortably exceed that paid in respect of fiscal 2023. During the six month period the Trust purchased approximately 95,000 shares for cancellation at a discount to NAV of approximately 25%. This policy which is ongoing increased the net asset value for all long term shareholders and helped to modestly reduce the discount compared to the end January 2023 net asset value at a time when many other trusts, particularly those with unquoted holdings, have seen a significant widening. quoted portfolio The market for quoted investments has been particularly tough over the past six months as evidenced by the weakness in the various small cap indices. The reasons for this are numerous but can be summed up as follows: weak economic growth, rising interest rates and very significant redemptions in small cap funds with negligible retail demand. It is therefore pleasing to note that the quoted portfolio significantly outperformed falling by about 3%. Oryx and Odyssean taken together rose modestly, helped in particular by encouraging performance in Oryx. The Trust's stand out success stories were NIOX which rose by 75% following multiple earnings upgrades and Sureserve rising over 40% following a successful takeover. The principal disappointment was EKF which fell 30% as the business repositions itself post COVID. Fund management stocks were also disappointing with Assetco in particular notably weak. In the United States Mountain Commerce fell 35% following turmoil in the banking industry. Despite the fall the bank continues to perform well with negligible bad debt. unquoted portfolio Despite industry wide concerns relating to unquoted investments, the portfolio continued to perform well during the period mainly due to our zero exposure to technology stocks. Taken as a whole, the unquoted portfolio added approximately GBP7m to the value of the Fund with the standout performance coming from Spring (following outstandingly good results) +80% and Harwood Private Equity V +8%. Taken as a whole, the private equity funds continue to perform well and should create further uplifts combined with significant cash inflow into the Trust during the balance of the year. conclusion At the end of June 2023 the Trust had approximately GBP107m in cash broadly in line with the January 2023 position despite the weakness in the dollar. We continue to believe that there is significant value in our portfolio which should be well placed to weather the very difficult economic environment facing the UK. A number of our unquoteds are in a sale process which should support increases in both net asset value per share and liquidity as the year progresses. Finally, the Trust's substantial cash reserves will enable it to benefit from a more benign investing environment in the future. C H B Mills Chief Executive 14 September 2023 top ten investments as at 31 July 2023 Fair value % of GBP'000 net assets -------------------- Oryx International Growth Fund Limited* UK Listed 81,494 12.2 US Treasury Bills US Treasury Stock 80,612 12.1 Harwood Private Equity Fund V LP UK Unquoted 49,015 7.4 Polar Capital Holdings plc UK Quoted on AIM 33,950 5.1 Hargreaves Services Plc UK Quoted on AIM 29,903 4.5 Ten Entertainment Group plc UK Listed 29,500 4.4 EKF Diagnostics Holdings plc UK Quoted on AIM 25,680 3.9 Odyssean Investment Trust Plc UK Listed 25,440 3.8 Niox Group UK Listed 25,350 3.8 MJ Gleeson Group plc UK Listed 23,045 3.5 --------- ------------ 403,989 60.7 |
Posted at 15/9/2023 07:25 by p1nkfish Steady as she goes and better divi around Feb 2024. |
Posted at 05/9/2023 07:41 by steve3sandal I’d be guessing that someone or something has been selling and NAS has been buying them back from MMs who don’t want to hold as they are not investors. Under £35 looks like the lowest price fir some time and probably nothing wrong with anything under the hood. I hold but I haven’t looked under the hood recently. |
Posted at 22/6/2023 15:50 by p1nkfish NAS is not a bad place to hide-out so long as we have the right hand on the tiller. |
Posted at 20/6/2023 18:24 by p1nkfish NAS joined THE FTSE250 with first day of trade yesterday, 19th.In effect he is saying they positioned on the 16th ready for the 19th? See what happens by end of the month. I'm often wrong but the volumes seemed a bit high vs what I expected. Until month end jury is out as far as I'm concerned. Currently sit at about 236 out of 250/1. |
Posted at 08/6/2023 09:45 by p1nkfish Watched the YouTube voxmarkets interview just now. Some points........1) Valuations conservative, off which NAV is based, 2) NAS in entering FTSE250 with first trades on 19th June, 3) NAS is illiquid, 4) Index trackers (VMIDD etc) will allocate funds according to market cap. What do you think will happen as forced allocations arrive into NAS regularly? With such illiquidity I think the discount to NAV will lessen, price rise, probably in short order. It might give Mills a chance to "harvest" some cash himself to increase market supply and distribute shares? From where I sit I see a relatively short order uptick in price as likely, by order mean a month or 2. A chance of 10%+ upside. May run to high 40's as trackers will have to buy??? NAS is looking to divest some holdings for cash reserves, ready to go hunting when market rolls over again. I can see this running up towards £48 in say 3 months, about 20% for a CAGR of about 60%. I am often wrong, dyor, etc. Anyone have any input on this idea? |
Posted at 30/4/2023 22:41 by steve3sandal NAS don’t have a shareholding in Rockwood. Harwood Llp (owned by C Mills). manage both trusts. Harwood has 28.9% of RKW and Richard Staveley who manages RKW on behalf of Harwood and owns 1%. I’ve just noted that Nick Mills son of Chris is joint manager of both NAS and RKW in addition to Oryx noted above. Heir apparent then. Happy to have them in my corner but not a top 10 holding as I can’t see the discount closing. |
Posted at 25/4/2023 22:34 by mozy123 Is the full NAS portfolio available anywhere is it closely guarded?Does NAS own any rockwood trust for example? |
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