Gledhow Investments Share Discussion Threads

[russman] 01/11/2024 05:30

EVA is valued at midpont share price
Poor liquidity - it should be valued at a discount. 15% at least.

[russman] 16/10/2024 16:20

Millers are connected to "Pethouse". All the new investments are pets.
Evrima is a classic example.
It is a money roundabout, skimming fees every time.

[smithie6] 13/10/2024 14:09

shareholder assets ~£1.3m including ~0.3m cash.

While in the last 2 years the normal sale of asdets is £1m, & purchase of assets of ~£1m.

Hopefully there is no scam/fraud going on

because

the same of assets in a year seems to be ~£1m/£1.3m

and purchase of assets also at ~£1/1.3m.

while the co. has ~£1m in value in shares & £300k in cash

imo NO FUND MANAGER sells ~100%/year of the value of shares in a fund....& then buys 100% of the value of shares in different shares !!

imo no private investor would do that either.

It appears to be blatant over trading.

Does either of the 2 Millers or any company they are connected with receive a commision/benefit on sales/purchases of shares by Gledhow....which might be an incentive to over trade ?

[smithie6] 13/10/2024 13:48

...and the Millers' don't have the dignity to recognise that they have been a disaster

& step aside

& let someone else manage the assets

since clearly the Millers have no idea what they are doing ...as shown by the implosion of shareholder assets while under their control.

last year shareholder assets fell from £1.7m to £1.4m !!
quite a % fall !

to £1.3m at the end of H1
The downward slide continues.

No big shareholder willing to call an EGM & put forward a new investment picker/manager ?

[russman] 10/10/2024 04:54

amazing. there was a trade yesterday!

[russman] 15/6/2024 03:17

another loss. A pigs ear.

[russman] 26/4/2024 05:13

GRIT still suspended.

[russman] 02/3/2024 06:09

Guy declines to provide any further information regarding Gledhow's current investments. How about a top 3 holdings by value?
In their last annual report there was 1.2mn investments (1.1mn listed and 100k unlisted). There appears to be a difference of opinion on the definition of "listed".
All PeterPan linked investments:-
COIN
Kanabo
Evrima
GRIT
It is difficult to calculate a meaningful NAV per share. Is this all the significant investments and liquidity is so poor, there should be a large valuation discount.
Carole Rowan has a big problem.

[russman] 10/2/2024 07:03

Net asset per share performance is risible.
Their valuation policy is flawed; illiquidity deserves a large valuation discount.
Who would be tempted to buy this translucent sludge?

[russman] 10/2/2024 06:53

the buyback of approx 10mn at 1.75p appears to have been ill-timed.

[russman] 10/2/2024 06:48

annual report is as opaque as ever

[russman] 16/12/2023 06:51

spread has narrowed remarkably but no liquidity.
who would be interested in this opaque ragbag.

[smithie6] 08/12/2023 08:49

The Millers have imo screwed up big time with our money.

The NAV/share was ~4p/share when the big share issue was done.

Now, X years later the share price is 0.5-0.7p/share as a result of the bad share picks by the Millers.
imo a chimp could have thrown darts at random and would have done better.

If the Rowans still hold their shares I assume they are not very happy.

[russman] 08/11/2023 17:29

I thought COIN was their big punt.

[russman] 07/11/2023 17:03

someone bought 400k @ 0.7p today.
their glass must be half full !

[smithie6] 01/11/2023 12:24

Was/is GR1T the main asset holding up the share price ?

It's price has fallen a lot in recent days.

How can the Millers work in the city (although one could argue that they work in some hidden dark corner of it & not as famous names at a major investment house) when every share they buy seems to turn to dust ?!
Did the NAV roughly half last year ?!

[smithie6] 30/10/2023 12:07

The thread header is from 2008

"Latest reported NAV is 1.74p." In 2008.

Now 2023, 15 years later & the NAV is about the same !
With inflation that is a big loss for shareholders.

[smithie6] 30/10/2023 12:06

Can we get enough votes to vote the Millers out ...due to being useless ?

[russman] 05/8/2023 05:44

their investments are still tanking.

[russman] 21/6/2023 16:04

completely uninvestable, millers are muppets, ginormous spread, no idea what current shareholdings are. all seem to be tanking, best guess 0.5p per share at these interims.

[smithie6] 03/6/2023 10:42

Nett assets of £1.7 million

Number of shares = 97.6 million

NAV/share = ~1.75p.

======

Mkt price = 1.0p.
So, buying in shares at 1.7p should perhaps be investigated, to see if dirs intentionally paid too high a price in order to help a friend get out of their holding, & get real £ in their pocket by selling at arguably a false high price.

The bought in shares are held in treasury. Is it the Millers' plan to give these shares to themselves if they can get the co. EPS to meet some low performance criteria in 1 year out of X years. And hence take excessive reward ?

[smithie6] 03/6/2023 10:38

"During the year, on 25 February 2022, the Company bought back 9,949,084 Ordinary Shares to be held in treasury at 1.75 pence per share "

Could anyone claim that that transaction was

- at higher than the mkt price, to benefit a friend of the dirs ?
- an insider trade ?
- a trade to allow a friend of the dirs exit from their holding in Gledhow & was it not offerred to all, if so did it break the Company Act by not treating all shareholders equally ?