Gledhow Investments Share Discussion Threads

[russman] 15/6/2021 18:22

small holdings, no news on Rowan estate yet.

[smithie6] 14/6/2021 21:03

from the interims

"Cost of sales (including unrealised gains and losses on investments
= 123,972"


& yet other text says

"net unrealised gains on investments held for resale of GBP874,227."

so, £874k is included in cost of sales, which is £124k

Obviously completely untrue.

874k doesn't fit into 124k.
unless there were was a big loss of 650k & with the good results that has occurred.
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the accounts do not make sense.

[smithie6] 14/6/2021 21:02

"Does this share quality for CGT & IHT relief when held for over 2 years?"

some shares are free of CGT if held for 2 years, really ??!!

[russman] 14/6/2021 20:12

about time their website was updated.

[dekle] 14/6/2021 08:39

If I was a director I would probably know the tax status of the shares. I have been holding shares in Gledhow since 2004 and would be more inclined to continue to hang on to them if they did qualify for tax relief.

[nextlink] 14/6/2021 07:57

Are you one of the Directors of Gledhow perchance ?

[dekle] 14/6/2021 07:44

When considering an investment past performance blah blah............

[nextlink] 14/6/2021 07:39

Having looked in on this share over the last 20 years and seen its lack
of progress and recent activities of the Directors.

You will not make a gain, so I would say it does not matter if it
qualifies for CGT & IHT relief.

[dekle] 14/6/2021 06:21

Does this share quality for CGT & IHT relief when held for over 2 years?

[tommyknockers1] 13/6/2021 20:46

That is good advice topinvest

[topvest] 13/6/2021 19:05

It's a lost cause fighting for change, particularly now that Bruce Rowan is not with us any more. It was always an odd vehicle and i only invested because of the Bruce Rowan link. Take advantage of the good times and get out if you don't like it, otherwise you will be stuck for over a decade with no return as I was! That's my view.

[russman] 13/6/2021 18:56

suggests a concert party.

[tommyknockers1] 11/6/2021 20:39

Then well done Nicholas Clark I say Smithie

[russman] 11/6/2021 05:14

Same as PIRI.

[smithie6] 10/6/2021 09:46

be interesting to see

but the dirs phps prefer to get their shares for free, via options

new shares new options.

if the dirs. do not invest cash then they lose nothing if the share price falls !

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dirs busy trying to unfairly & unduly enrich themselves everywhere you look. scumbags !!


Northbridge, Gledhow, & many more
& at some cos. the dirs lend money to the co. (MFX) (where it appears to not be needed at all !!) so that they own a lot of the co. (as creditors) if it goes bust & they get a % return on the money lent while shareholders get no divi year after year !!

& recall the dirs at Persimmon builder draining millions out of the co. for themselves as bonuses
& then leaving & laughing all the way to the bank !!


dirs. many of them at UK listed CV cos. are too busy dreaming up option schemes to enrich themselves rather than working !!

14% options at Northbridge (+ X % exercised in recent years !! so the % is higher !!)
12% at Gledhow, before dilution

when the regulation is <10% in 10 years

[russman] 09/6/2021 18:55

should at least be a director dealing flag on the morrow.

[smithie6] 09/6/2021 13:30

let us say that Gledhow made 650k of its uncashed profit in H1 in shares in AAA. (out of ~800-850k uncashed profit, ref. accounts)

then with ~£130k investment in AAA at end of Sept 2020, it would be worth £780k at end of March, profit of £650k.

note that these are just wild guesses, I have no knowledge of the actual holdings, & perhaps Gledhow actually holds 0 shares in AAA.
but clearly some holding(s) has really motored to produce such increase in the NAV at Gledhow

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£780k in shares in AAA at end of March 2021, @50p
would be
1560k shares

the value when AAA was suspended was almost the same, ~53p


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RMS

Gledhow has had some of these

& 0.8p at end Sept. 2020 & ~1.7p at end March 2021
so approximately it doubled

which looks to have contributed something to Gledhow's increase in NAV (& mentioned in accounts) but a doubling looks insufficient to have produced the NAV gain, although if all the RMS shares had been sold at the peak price then the gain would have been much bigger for Gledhow than x2 but most of the gain at Gledhow (~£800k) is profit that has not been taken. so it looks unlikely that RMS has been the cause, a gain of 800k from a share price doubling would have needed an initial investment of ~800k, which would have been a very high % of the assets of Gledhow, so it looks impossible.

[smithie6] 09/6/2021 13:23

chart for AAA

the share price has risen a lot



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in H1 to end of March the price of AAA went from ~8p to ~50p
x6.

with some intelligence we might/should be able to estimate how many shares that Gledhow has in AAA, if it has any !

[smithie6] 09/6/2021 13:04

what shares does Gledhow hold ?

anyone have any ideas ?

was AAA mentioned once ?
& if so is it any good ?!

[russman] 08/6/2021 18:48

awaiting any useful news.

[smithie6] 08/6/2021 12:35

Warrants

1 for 2
so 24 million new shares

so, if these warrants are exercised, & the dirs options, then there will be
49 +6 + 48 + 24 million shares

= 127 million

& 10% options on 72 million shares
= 7.2 million

total = 134 million shares

at prices of 1.75p, 1p (6 million dirs options ) & 3p (warrants)

(the dirs. can instantly reduce the exercise price to say 2p)

49p shares today
with NAV after tax if bag profits, of 4.0p

& NAV of 2.7p after dilution with 48million new shares

if someone wants they can calculate the NAV if the dirs exercise 12 million new shares at 1p, perhaps ~10% reduction in NAV/share, so 2.7p becomes 2.4p

current NAV after taxes, 4.0p

new NAV after taxes & 48 new shares & 6 million more for dirs.

of ~2.4p


& the MD has the cheek/gall to say in writing that reducing the NAV from 4.0p to 2.4p (- 1.6p/share) is a benefit for current shareholders !!

complete lies of course

[smithie6] 08/6/2021 11:42

I wonder if these things are legal (ref. co. Act 2006
& reqt. for dirs to
'operate the co. for the general benefit of existing shareholders')

- issuing 1:1 dilution, very negative for existing shareholders

- issue price of 1.75p, way below the asset price of 4.2p without tax & 4p after tax on profits (if sell everything; ~£200k)
very negative for existing shareholders

- issuing warrants as well as large discount

negative for existing shareholders


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while the actions are beneficial for the dirs.

- probably get 5-7% commission on new £850k money invested since they work for Peterhouse

- probably remove control of the co. from the Rowan estate & move it to themselves (since they can control or influence the votes of Peterhouse clients)

- increase their own pay (since the funds managed have increased)

- increase the value of their bonus
currently they have options on 6 million shares, exercisable @ 1p, 12% of existing shares, there will soon be an RNS increasing this to 12 million shares due to 1:1 dilution.
or since the Rowan estate now has a harder time to oppose them, perhaps the dirs. will reduce the exercise price from 1p to 0p.


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I get the feeling that the Millers will extract their pound of flesh from this company. :-(