Argo Share Discussion Threads

[jb0b] 24/11/2016 07:06

Buyback finally on the go again!

[stemis] 04/11/2016 11:24

Looks like they are struggling to find any shares to buy...

[zcaprd7] 21/10/2016 13:58

What's the nav in pence per share?

[zcaprd7] 20/10/2016 14:12

Am I too late to the party here? Any target prices?

[paperwerks] 28/9/2016 11:36

Jeroen Bos is a great deep value fund manager protégé;e of Peter Cundhill.

I think he sold out at 10p but am not sure.

Anyone know?

Let he who has never made a mistake in value investing throw the first stone.

[paperwerks] 28/9/2016 11:28

"Sorry wrong thread...."

Hey, no worries. PMR looks cheap now. 1/2 book. Losses halted. New ceo seems to be turning the company around. But I hate brokers which is why PMR is a Deep value play...

Some so called value investors must be feeling poorly now that they have sold out of argo at 10p. It was hard to hold. Laziness helped me to hold....


My faith in value investing is being restored by Argo after accumulating a few value traps lately.


Did Joeron Bos from Church House sell his Argo at 10p? Shocking if true!....

[norbert colon] 28/9/2016 07:48

Sorry wrong thread....

[norbert colon] 28/9/2016 07:41

Related news:http://www.telegraph.co.uk/business/2016/09/27/panmure-gordon-returns-to-profit-after-challenging-but-busy-six/

[brileyloucan] 20/9/2016 08:06

hxxp://www.argogrouplimited.com/2016-share-buyback-II.php

[sharpish] 19/9/2016 17:42

EGM resolutions passed, no info on what they actually were?! Don't all shareholders have a right to know what they voted on?

[paperwerks] 08/9/2016 13:17

They have been talking about increasing AUM for years. If they can do it then this will not be just a winner but a grand slam home rum. I wonder if the Rialas' increasing their percentage interest in the company will increase their motivation to get it done (maybe by merger?)

as they state, they do not have enough AUM to cover overhead. Something has to be done at some point.

50 cents US / 37.5 p tNAV/share. WOW!

I last voted against the buyback but was wrong and want this second buyback to go through and hope they are able to buy buy back a lot of stock cheaply.

[kev0856153] 08/9/2016 12:02

Interesting times and with ARGO capped at £6 million, a £2 million buy back is going to have a big effect

[sharpish] 08/9/2016 11:48

Good results were expected given the second buyback announcement recently. Imagine the buyback vote will pass again, anyone currently holding seems content to have the Rialas brothers with a majority stake, most of the frustrated/distrusting holders got out last time.

Given the vote passes next week, very much doubt the company will again be able to buy large blocks of shares at heavily discounted prices, bid will need to be raised significantly to entice a lot of stronger holders who know its true value to cash out. Interesting times ahead.

[kev0856153] 08/9/2016 11:48

Yes and do not forget there is a £2 million share buy back to come which will force up the net asset value massively.

[stemis] 08/9/2016 10:04

Just shows how ridiculously under valued it is. Now at a discount to cash and only 32% of tNAV. Guess it shows how much suspicion there is of the intentions of the Rialas brothers. The longer nothing happens the more that will pass. This should be at least double this price...

[kev0856153] 08/9/2016 09:06

This has been on my watchlist for a while. Bought in today at 11p on these stunning results. Stunning.

[rjmahan] 21/8/2016 22:48

Contact the NOMAD if they arent keeping accurate holding records - its an AIM requirement...

Not a holder here, but curious...

[keevo] 17/8/2016 17:38

What can we expect to happen?

[stemis] 17/8/2016 16:00

The Argo web site discloses 5 significant holdings (all nominee accounts) which amount to 97.2%. Assuming Kloter's shares aren't one of those, that would take it to 99.2%. It's not good that Argo clearly aren't updating shareholder data or announcing significant changes...

[wexboy] 17/8/2016 14:49

Safe to assume Church House has fully exited its ARGO stake - the latest Deep Value interim report basically confirms this:

hxxp://www.ch-investments.co.uk/sites/default/files/downloads/svs-ch-special-mandates-fund-interim-20160331.pdf

I can also confirm Dave Barry has fully exited his ARGO stake. As have I, as detailed in my most recent post:

hxxps://wexboy.wordpress.com/2016/07/18/h1-2016-wexboy-portfolio-performance/

[sharpish] 16/8/2016 20:20

There are also two value investors on board with 2 million shares each - Church House and David Barry, roughly 8.25% of total. Barry bought in only a few months ago, Church House has been there a while. Neither likely to sell without a vastly improved bid vs current levels.

[stemis] 16/8/2016 18:33

Authority now requested to buy back up to another £2m of shares. All pretty intriguing.

hxxp://www.argogrouplimited.com/buyback/Circular-Regarding-Proposed-2016-Share-Buyback-II.pdf

1. There are now only 24 million shares in issue not held by the Rialas's. At the current price of 9.75p that only £2.34 million in value. Eventually the price will have to respond unless pretty much everyone is going to sell their shares.

2. On a proforma basis ARGO now only have £365k in cash. Either they are generating significant cashflow, have access to debt or they won't be able to afford to spend £2m.

3. Statement in the circular that Rialas's have no intention to make any changes to the company's current plans regarding maintenance of the company's trading on AIM. I wonder what that's worth....

[stemis] 12/8/2016 11:28

Probably won't find out much now until the interims next month

[stemis] 08/7/2016 10:46

Owned by AREOF I think, where our investment is written down to zero and full provision made against outstanding management fees. Probably all the money went to pay off the bank...