Share Name Share Symbol Market Type Share ISIN Share Description
Argo Group Limited LSE:ARGO London Ordinary Share IM00B2RDSS92 ORD USD0.01
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 20.00 6,000 08:00:00
Bid Price Offer Price High Price Low Price Open Price
19.00 21.00 20.00 20.00 20.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 3.70 0.78 1.51 13.7 12
Last Trade Time Trade Type Trade Size Trade Price Currency
08:04:11 O 6,000 20.00 GBX

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Date Time Title Posts
14/1/202111:25argo - a new start?269

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Argo (ARGO) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2021-01-25 08:04:1120.006,0001,200.00O
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Argo (ARGO) Top Chat Posts

Argo Daily Update: Argo Group Limited is listed in the General Financial sector of the London Stock Exchange with ticker ARGO. The last closing price for Argo was 20p.
Argo Group Limited has a 4 week average price of 18.50p and a 12 week average price of 17.25p.
The 1 year high share price is 25.50p while the 1 year low share price is currently 15p.
There are currently 61,023,494 shares in issue and the average daily traded volume is 3,853 shares. The market capitalisation of Argo Group Limited is £12,204,698.80.
stemis: Once again, this company is not ARGO blockchain (whose ticker is ARB)!!! This is the thread for ARGO, the alternative investment manager focused on global emerging markets. Take your ramping elsewhere.
stemis: Interesting development. I think the most important part of it though is the statement "As an additional benefit from the Loan, AGL will possibly benefit from a better recovery on the outstanding EUR 8 m of unpaid fees due from AREOF. Currently, these fees due to AGL are carried at zero value. The Company believes the recovery of outstanding fees is greatly enhanced by the EBRD refinancing and the offered return is attractive compared to other alternatives." As at the last interims the provision against all amounts outstanding from AREOF was $11.8m. Recovery of those amounts would add 23.3p a share to NAV, taking it to 66.6p. Current share price is 24.5p...
stemis: Once again, this is NOT the thread for Argo Blockchain.
stemis: NAV per share = 56.3c (46.2p). If they do manage to recover mgt fees full provided for (which they claim to be confident of) that becomes 87.2c (71.4p). Share price 21p???
stemis: Different ARGO
newtothisgame3: #Argo #Blockchain PLC are facing the potential of being ousted after a meeting was requisitioned for May 16
newtothisgame3: #ARGO City bad boy Frank Timis returns to stage a crypto cash coup
stemis: Wow. Very surprised. Company fails to spend all of £2.5m, even at 26p, as many shareholders decide that shares are worth even more. I think anyone who tendered and got 26p must be pleased. I didn't tender in the end so it'll be interesting to see where the shares open. I estimate NAV now 40.6p a share. Wouldn't surprise me at all if, in next year, the AREOF situation is resolved and NAV increases to 58.1p. I guess from here on I really am going to be the only one on this board though...:-(
stemis: Raskolnikow, All fair points although I think 90% is the threshold for an enforced purchase of remaining shareholders. I think there is some reputational risk in screwing over minority shareholders when your business is looking after people's money so maybe for a couple of million it won't be worth it. Certainly, though, they've not been averse in the past to stripping money out of the company through bonuses. Once they've distributed the cash, ARGO will pretty much (91% of NAV) be just a 23% holding in The Argo Fund (TAF). Of the other three funds, Argo Distressed Credit Fund and Argo Special Situations Fund are closed to new investment so I guess in wind down mode (AUMs down 36% last year). Argo Real Estate Opportunities Fund (AREOF) is basically owned (83%) by the other funds and ARGO itself. So I don't know why they don't collapse ARGO in TAF. What's the point of the quote? They could liquidate ARGO and distribute the shares in TAF to shareholders of ARGO and then allow redemption for those who want to cash in? Would save the costs of being a plc.
stemis: Interesting developments. SP now 17p compared to NAV of 38.1p. This excludes the amounts due from AREOF, which are fully provided against but management continue to insist are fully recoverable. This would add another 14.5p to NAV (making it 52.6p). Interesting that AREOF now has a NAV of $15.0m (up from $0.7m), which is presumably after the accrued $8.9m to ARGO. So in a winding up they have the assets to pay the debt. The tender offer, which could range from 18p to 26p, will increase the net asset value per share to 41.2p - 46.5p. I'm guessing they'll get enough tendered to make it 18p therefore increasing NAV to 46.5p. Add backing the AREOF receivable would make that 67.1p. The timing here is interesting. The tender will absorb $3.25m of their $4.0m cash. I can't believe they'd do that without a lot of confidence about the 'future'. TAF was up by 2.7% in January and AUM increased by $12m to $80m during 2018. Talk of increasing it to 'well over' $100m. Post tender ARGO will be basically an investment in TAF ($18.2m out of net assets of $20.0m) owned 74.8% by the Rialas brothers (assuming tender at 18p). That's not sustainable. The value of shares in ARGO at 17p not owned by the Rialas brothers would be a mere £1.4m. Surely the Rialas brothers could sweep them up for say £2m and take this private?
Argo share price data is direct from the London Stock Exchange
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