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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Better Capital Pcc Limited | BCAP | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 21.50 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 21.50 | 21.50 |
| Top Posts |
|---|
Posted at 24/12/2010 08:20 by masurenguy Price slowly creeping up from the 100p AIM IPO in December 2009, the further placing at 105p June, the 110p main market debut in July to 115p on December 24th. Current share price is equivalent to a 14% premium against the NAV calculated at the end of H1 on September 30th. Some H1 Report extracts Portfolio The Fund's portfolio is performing broadly in line with expectations, which is pleasing. The rate at which Gardner is securing new custom highlights how attractive unleveraged, well-invested businesses are to customers. It is entrenching itself as a strong player in the UK aerospace market and deepening relationships with the key industry participants. The management of Reader's Digest has undertaken a transformational restructuring of its cost base and the team is now working hard to regain momentum lost during the administration process and to organically increase its readership. The company is looking at a number of ways in which it can supplement its product and service offering and best utilise its key strengths; its brand and loyal customer base. It remains early days for the Calyx turnaround, but its new management team is excited about the possibilities and clear about the way in which the business needs to be repositioned. Deal Flow The volume of new deal opportunities being investigated continues to be consistently high. The high number of introductions is a result of significant time spent meeting members of the referrer community and building awareness of the brand. During the period a total of 311 introductions were reviewed by the Consultant in conjunction with the General Partner of the Better Capital Fund. The Board continues to believe that this deal flow should mean that the proceeds of the placings can be substantially invested or committed within the period set out in the prospectus.The near term outlook for the future is promising for Better Capital Limited - being an investor which can capitalise on corporate underperformance, of which there is an abundance. Market Summary In the wake of the global economic turmoil caused by the collapse of the credit markets, the M&A industry has significantly contracted - and is now in weak recovery. Fortunately for Better Capital, the lack of availability of leverage is actually of benefit, given the reliance upon gearing that a number of its competitors have. In either prosperous times or those of recession, there remain businesses which are poorly run and hence require an operational turnaround. The factor which is affecting the marketplace most noticeably is the attitude of the clearing banks. It is extremely common for lenders to refrain from crystallising losses, even though the worth of the underlying businesses is far below the level of the debt. The longer this situation remains, the greater the need for investment in those companies. A rise in interest rates or a change of attitude in the banking community is likely to prompt a wave of investment opportunities. Better Capital is now a strong brand in its market with a full set of resources to maximise the return from the turnaround arena. We have considerable confidence that the Better Capital Fund can find further rewarding investments over the months ahead. Jon Moulton |
Posted at 11/9/2010 16:32 by fjp73 Something I wrote in December 2009 For those not aware, Jon Moulton founded Alchemy Partners a private equity group; this was some time in the late 90's. He left in September this year after a clash over strategy because he wanted to focus more specifically on distressed and financially needy companies where as other partners wanted old school investments. That is my version of it not the PR spin or his. Anyway, roll forward 3 months and from what I have heard Jon was having serious amounts of cash thrown at him to do this and do that, for which I can only assume he declined. Preferring instead to create a company that wants to focus on distressed UK and Irish Business, where they can turn the company round by looking at the management (bad) and need for cash. I love the model. " "From what I have read, the company will limit investments so that all the eggs aren't in one basket. I think the tiered investment ratios are no more than 20% of cash in any investment and no more than 10% is listed companies. BCAP has about £140M cash and is valued around £150M. It is certainly one to watch, or even just keep an eye on who they are invested in if listed! I am a great believer in the people behind companies and Jon Moulton has showed confidence by investing £13M of his own cash in this. Other Directors had to commit to a collective minimum of £350K, which if I am correct is equivalent to one year's combined salary for all of them. I have great faith in the company, yes, the price could dip but my broker says that all the "initial" offering investors have signed a "no shorting clause". So the company's at a 6% premium to the current cash value, but with the brains of Jon behind the company, I don't think it's unreasonable to see £5 in 3 years, this is based on the Alchemy performance and only 25% of it, I opted for this figure as the 100% would mean a £20 a share....which I think would be unrealistic. Overall, someone who I have a lot of faith in and I would go as far to say, better than a savings bank in terms of safety and returns! You can't get better than Jon Moulton, Mark Aldridge (accountancy supremo) and Nick Sanders (Company management and a damn good name) and that's just the consultants and with the shrewd and avid Richard Crowder (Chairman and well known for shareholder value), Richard Battey (the man should have his own church, came from Schroders and is on the board at Juridica Capital Management Limited) and Philip Bowman (from Smiths Group Plc) and Mark Huntley (I don't know anything about). TC A Jon Moulton Worshipper. www.advfn.com/p.php? |
Posted at 08/1/2010 09:15 by philipm2 Goz, you're quite right this could be a cracker in a few years and with some heavyweight investors already in and should motor once the first purchase is made.Any idea what co's they may target? |
Posted at 21/12/2009 17:57 by ukinvestor220 John Moulton's new vehicle17 December 2009 Better Capital Limited First day of dealings Better Capital Limited (the "Company") is pleased to announce that it has raised gross proceeds of £142.4 million by placing 142.4 million ordinary shares of no par value each ("Shares") with investors at the Placing Price of £1.00 per Share. Following completion of the Placing, the Company's estimated unaudited Net Asset Value per Share will be 97.5 pence. The Company is a newly established limited liability, closed-ended investment company, with the investment objective of generating attractive total returns from investing in a portfolio of distressed businesses, such returns being expected to be from capital growth. Through the Placing, certain of the Directors and the managing members of Better Capital LLP (the "Consultant") are making investments in the Company. Specifically with regard to the latter, Jon Moulton is investing £15 million, Mark Aldridge is investing £150,000 and Nick Sanders is investing £200,000 through a family trust. The Company has applied for a total of 142,400,000 Shares to be admitted to trading on AIM at 8.00am today. Better Capital Limited will trade under the symbol BCAP. Numis Securities Limited is acting as Nominated Adviser and broker to the Company. Placing statistics: Placing Price £1.00 Number of Placing Shares 142.4 million Number of Shares in issue following the Placing 142.4 million Market capitalisation of the Company at the Placing Price £142.4 million Gross proceeds of the Placing £142.4 million Estimated net proceeds of the Placing £138.8 million Estimated initial Net Asset Value per Share (unaudited) 97.5 pence |
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