Yes, what can I say?
Trading Statement contained nothing new and as such was 'a non event' apart from giving some reassurance in these troubled financial times.What we need is news Lebc is going to have an IPO!
Dividend showed disappointingly no increase.
I would like to know if the American assets are making any profits? The opening statement 'pleased to inform 'is a positive sign.
Some good observations from bloggers with opinions which met my own, we will have wait for ST to pronounce next week(?)on the current state of BPM.
I checked and whilst I am not an expert, a director can buy before 'trading statements' although that is slightly frowned upon.GLA.
R. |
I'll need to remind myself of the details of the management incentive scheme from last year's remuneration report, but there was a stark contrast in today's report between the 1,461,302 shares held in the employee benefit trust (capital potentially given away to employees) versus the 28,573 shares held in treasury after buy-backs (capital returned to shareholders).
I'm all for incentives, but a company needs to balance the decisions it makes in the interest its staff and management with the decisions made in the interest of shareholders.
Other than that it was a reassuring if unspectacular update. Share price doesn't seem to have moved at all which underlines the fact that there was almost no new information in this update whatsoever. Oh well, "no news is good news" as they say. |
I only read again yesterday a Charlie Munger quote...something along the lines of...
Show me an incentive and I’ll tell you the outcome. I fully expect the beneficiaries to ‘earn’ their incentive. I always take a view on more than one possible outcome. I’m rather more interested in them managing this investment company to double NAV...again...Cheers |
retsiusI owe you an apology, NAV is officially 333p!.Nexus EBITDA doesn't look particularly good IMO and slight macro concerns no surprise really. Let's see.Still don't see how BM can buy shares 6 days before a trading update, do closed periods only apply to financial statements?. |
i wouldn't use the 321 nav, as the relavent shares are currently non-dilutative
a matter of personal choice
the standard conventional nav is 333p
anyway we now have to wait until June for a nav update, which is a bit daft |
So, nothing to see, nothing we didn’t already know from earlier RNS, activities etc. That’ll be alright then. Continue to accumulate patiently, share price discount to NAV holds a nice margin of safety, 333p NAV cleared up, but I will be using 321p. Simon Thompson IC will surely be adding up the EBITDA and projecting a potential NAV next week so a likely short term price spike before back to usual. Happy with sleep easy at night stock here. GLA. |
Their website does say, even now, TU on Thurs 7 Feb. A bit cheeky buying the day before, he had to know what it will say doesn’t he? We will know imminently. |
Closed period?, no update tomorrow then I guess. |
BM buys 20k shares. Hope that is a good sign for tomorrow`s update.
R |
1p jump today, someone's obviously perked up. Will jump a bit further if there's a positive update and a bit more pen-and-inking from Simon in the IC. Fingers crossed. |
EDIT: To delete repeat post. |
Blimey it does move, illogically but hey!. |
Looking forward to the update next week, I'm hopeful of positive news. |
Very quiet Board and share price Hoping for a positive update next week.
R. |
NAV per share120.1m/37.45m = 3.21pSorry but how can it be anything else?. Misleading IMO to post 333p. |
Hi retsius,Apologies but new here so not aware of previous discussions, but the company have clearly stated NAV 321p (which I checked against current level of share buybacks as per previous posts).From the Interims: "adjusted NAV post July 2018 Placing: 321p"ThanksDD |
Let’s not go down the road of NAV again!!
Let’s say we agree to differ.
NAV from Interims: 333p per share.
(Check the website, I have communicated with the co. on this issue and the figure is correct)
R. |
Ooops May have used the wrong number of shares, guess you exclude those in treasury?, so it's total voting rights in which case sorry it is 321p, but still 12%.Think I will stay quiet!, lol. |
NAV as at 31st July 2018 was £120.1mBased on the shares bought back on 22nd Jan the shares in issue is 37,478,077. This gives a NAV of 320p.They were bought at 282, so 12% discount to NAV........think I have numbers OCD, lol.Still slightly underwater here, late to the party, but the party has not got going yet.....I hope!. |
As I have posted in the past, under AIM rules the company is constrained in buy-backs by the market T/O in shares. As we are all well aware the market is small as so many of us are long term shareholders hence the very low amounts they can re-purchase at any one time. |
Agreed. 279p x 1.15 = 321p which was that last published NAV. But buying c 1000 shares at a time isn’t really a proper buyback. Firm holder for progressive news and limiteddownside risk. It wouldn’t surprise me if ST for IC included this in his Bargain Share portfolio next month. Good luck all. |
Yes Peter 28 good point! |
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