Athelney Investors - ATY

Athelney Investors - ATY

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Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
Athelney Trust Plc ATY London Ordinary Share GB0000609296 ORD 25P
  Price Change Price Change % Stock Price Last Trade
0.00 0.0% 215.00 00:00:00
Open Price Low Price High Price Close Price Previous Close
215.00 215.00 215.00 215.00 215.00
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Top Investor Posts

charo: RB has put his personal position ahead of his duty to investors. Board out of its depth.
rooky4: No further mention of a tender, conveniently forgotten? Previous support by vote for tender showed that many shareholders want out - very difficult to call but I guess this group will go with Pohl now. Any more muddle with Boyle and the discount could widen a lot. The strategy of "stability" and particularly "expansion", together with "Robin Boyle continuity" unfortunately just doesn't hold water - if there was demand then there wouldn't be a discount, and any potential new investors will take a look at the past year and run a mile. Should have been a wind-up and distribution at NAV when Boyle first flounced out, Athelney was dead then. Now just prolonging the agony at financial cost to the shareholders. Only other option is that Pohl can make some use of the corpse, but it is difficult see the shareholder benefit there unless the discount and spread can be cut down.
topvest: Yes, but Boyle was offered a cash exit at close to book value and rejected. Whilst I like Boyle and have enjoyed Athelney Trust, the best outcome now is an exit for value investors and leaving the company to head in a growth direction. I've voted for Pohl this time. I do like Boyle and I do like Gresham House (I hold their shares as well from when it was an investment trust), but I think Pohl will block it. So, I'm going to back Pohl and Moore. Its worth noting that the current Board are quite inexperienced in such matters. Moore is better calibre in my view. Its a real difficult decision as all the options have positives. That being said, this is a monumental bust-up for a company of this size. Pohl and Boyle are to blame. It needs one to back down or definitively lose. I gave Boyle a second chance, but I don't think that he deserves another! was Boyle who went AWOL in the first place.
danny baker: Maybe the answer, as has already been suggested, would be a recommended shares for shares offer from another investment trust like Gresham House Strategic or possibly Miton UK Micro Cap at say a 10% discount to asset value. A cash alternative could be provided which would have a similar effect to a tender offer. That way investors could choose between rolling over their accrued capital gains into another investment trust or exiting part or all of their investment for cash.
danny baker: Haha Rooky4 I didn't scroll down as far as that last line which presumably is a hangover from using the AGM announcement as a first draft. That's what happens when the office junior writes the RNS releases. The first resolution should also read Tender Offer not Tender off. David Lawman is a 'well-seasoned' stockbroker who I believe is currently with Daniel Stewart. If I was a director I would feel obliged to entertain a tender offer but at the same time request proposals from any interested parties to expand the trust with a placing to new investors and appointment of an investment manager.
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P: V: D:20210120 02:33:52