Stakeholders Share Discussion Threads

[motw] 02/6/2010 12:27

These Midas people will probably change the articles of Stakeholders and appoint their own directors.

If its delisting on 22nd,Im selling or accepting now before the rush next week. Don't think I want to be left in a private unlisted company run by these guys.

[colonel a] 20/5/2010 16:22

Exchange Ratio just published.
Is there not Arbitrage here ?
The value being offered in terms of MNL shares is 272p by my calcs.

[topvest] 03/5/2010 10:43

This is a reasonably good deal for shareholders in that they can swap their investment into a larger and more successful trust, with a 3% yield and a better cost structure. I hold shares in Manchester & London which is doing quite well, albeit not spectacular. Looks like Aurora Investment Trust is next on their list! This is the second closed end vehicle they have taken out this way in the last year.

The £2.17 price must be what they paid for their shares I suspect. It's not a serious offer, as they want you to take shares.

[golspie] 02/5/2010 23:21

Sell in the market now or take the paper. They do not want to give you cash. isn't L&M the IT with Wimbledon debentures for which you can go into a draw and who have a large holding in Paterson Zochonis?

[the monkster] 15/4/2010 12:51

where does the £2.17 come into it???? from what i can ascertain L&M is priced well above DDIT so it wont be 1 for 1 but not sure where the quoted £2.17 comes into play.

[motw] 12/4/2010 10:05

You are missing the share offer which is on a share for share net asset parity...it's predominantly a paper offer.

[liveinhope] 17/2/2010 22:11

I am a casual observer. Are the Management company guilty of overtrading? Ignoring legacy portfolio which is being run down (fair enough), current investments/gilts are fluctuating too much IMHO. Who is benefiting from the seemmingly constant switching of funds. Can't be shareholders? Thoughts of others aprreciated as maybe I am missing the obvious?

[topvest] 24/1/2010 12:52

Sorry, but can't quite see why Midas are seen so badly.

Have a look at Manchester & London IT - very good record, controlled by Manchester & Metropolitan. IM fees are very low as are the costs of the company. Almost too low!

Manchester & Metropolitan is the family vehicle. This family looks to have done very well and not through a leveraged position.

IM fees here are very low. Will have a look at the Hungarian property company situation as well.

I agree that the investment strategy is likely to change now along with the company name. If I were a betting man I supsect this IT will be kept separate, rather than merging with Manchester & London. Could always merge it with Aurora once they make a move there.

[envirovision] 04/1/2010 15:30

agreed, just goes to show how much the market hates the discusting fowl stench of the midas management and crew who have their clammy paws on the fund and who are running the show here now. I guess theres no amount of discount can be put into monetry terms to to make up that !

[motw] 04/1/2010 15:11

nav here is 344.03p yet the price is around 253p, and the stock currently yields 5%... that's quite a discount when 27% of the portfolio is in cash.

[slapdash] 14/12/2009 19:21

midas investment managament helped form Pactolus... Hungarian property company....

Floataion price 60p... price now I think about 6p...... a broker that gets rich off clients..............

They are obviously doing this with DDIT to get more fees from more funds under management.....

[gilston] 14/12/2009 17:17

This may explain why the share price is now tanking.

[envirovision] 09/12/2009 11:16

Reading the last statement regarding the new directors, imo the past history of them both stinks. All you really need to do is read the bullitin boards of private investors in all of their past involvments and there appears to be a trail of lots of rather un happy people. I think it stinks.

[gilston] 05/12/2009 16:46

Change of Directors & Managers presumably indicates change of investment strategy.

What now? A merger with Manchester & London?

Cancellation of treasury shares should push up NAV.

[liveinhope] 12/11/2009 12:53

MOTW - tender price ended up at 347.3886p so would have made sense geeting out via this route and re-entering at current price levels (around 312p to buy). Another missed opportunity and one which was so obvious. Hope you took advantage of this.

[motw] 21/10/2009 13:30

Quite a good thread on the iii message board about this tender offer. With the price around 324 and the tender price expected to be around 350,its got to be worth getting out via the tender?

[slapdash] 01/10/2009 14:19

yes i think it is an interesting strategy....I was going to buy some but couldn't through IG.... but I imagine they will do well..... just buy what directors are buying.... hmmm... slap

[liveinhope] 01/10/2009 14:16

Have now found out. "The dividend, if approved by shareholders, will be paid on 4 January 2010 to shareholders on the register at 29 December 2009."

I do like the quality of their new investments and some like Computacenter have seen a good share price rise in the short time they have held them.

[slapdash] 01/10/2009 13:41

don't know sorry... it should be in latest report though... if they have announced it....slap

[liveinhope] 01/10/2009 13:37

Harvey Nash increased dividend yesterday and still making profits so less concerned over this inherited investment. Talking of dividends, DDIT paying pleasing 13p but still to find out payment date for this. Anyone know?

[liveinhope] 30/9/2009 22:36

Annual Reports & Accounts for year ended 30-06-2009 received today. New Management doing well with new Investments since 22-04-09. "Legacy Portfolio" would have suffered a hit today, if shares still held in Harvey Nash Group. Not current Management fault. Notwithstanding this, pleased share price rose today in falling market.

[slapdash] 24/8/2009 10:29

Anyone follow this one?