Share Name Share Symbol Market Type Share ISIN Share Description
Better Capital Pcc Limited LSE:BCAP London Ordinary Share GG00BYXP9G82 ORD GBP1.00 (2009)
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 21.50 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
18.00 25.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments -42.01 -9.62 75
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 21.50 GBX

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25/5/202018:38BCAP imploding-
01/12/201710:46Better Capital - Better than Alchemy116

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Better Capital Pcc Daily Update: Better Capital Pcc Limited is listed in the Equity Investment Instruments sector of the London Stock Exchange with ticker BCAP. The last closing price for Better Capital Pcc was 21.50p.
Better Capital Pcc Limited has a 4 week average price of 0p and a 12 week average price of 0p.
The 1 year high share price is 50p while the 1 year low share price is currently 18p.
There are currently 346,600,520 shares in issue and the average daily traded volume is 0 shares. The market capitalisation of Better Capital Pcc Limited is £74,519,111.80.
sharpshare: Net 105p per share from sale of Gardner announced today. Share price 106 to 108p today. NAV around 123p?
rambutan2: Gardner sale on target:
rambutan2: 17p distribution paid today on the 2009 shares. Share price now only giving Gardner value - a little upside from last valuation. Was stated that sale by end of 2016 expected. Other four cos could fetch 20p+, given time and no (more) disasters. Am happy to hold.
molrey: Any views on BC12 here? (Better Capital 2012 Cell) My analysis below. Can currently purchase at 66.5p vs a debt free 102p NAV (30.9.2014) The breakdown of the £354.1 million NAV at 30th September is: Everest £69.4m, Jaeger £50m, City Link £20m, SPOT £100m, Cash £111.3m, Misc £3.4m Since the balance sheet date we’ve had the following developments 10th November 2014 – Acquired all the debt facilities of Intertain Limited for £20 million. 29th December 2014 – City Link Group placed into administration. No effect on B/S as was already written down to reflect liquidation value. 19th March 2015 – Financial restructuring of Intertain Limited. Company entered into a CVA to refocus business on core estate and have now assumed equity control. I imagine this is a marginally positive development for NAV. 20th March 2015 – Purchase of CAV Aerospace with an initial commitment of £40 million covering the acquisition, working capital requirements and future growth initiatives. £48m cash remaining as of the 20th March. So we have two new purchases adding £60m to the investment portfolio and have £63.3m less cash so NAV is still around £1 and share price is trading somewhere around a 35% discount. A first distribution of capital was made in September 2014 of 1.75p. I’m not 100% sure on their distribution policy, but if it is a case of them distributing all the capital/Loan repayments/dividends that BC12 receive back from their investments then there is potential for bigger cash returns this year as they state ‘Significant further cash distributions to Fund II are expected in FY15’ with regards to Everest and also say ‘there is a good prospect of some cash distribution from SPOT in FY15’. John Moulton has made recent puchases at both 70p (2.85m shares) and 80.1p (1m shares). Better Capital have had a pretty poor run but not sure the sizeable discount to NAV is warranted. Might be a long wait but I’m a buyer.
huttonr: Good signs of activity on the investment front - I hope this will translate into share price movement - I've been a little disappointed on the share price progress so far even tho' it is in start-up mode.
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
masurenguy: Inevitably slow but gradual progress here with the share price creeping up by 3p since their migration to the main market 4 months ago. The interim report, covering the 6 month period to September 30th, is due to be published at the end of this month and this should also provide some further insight into both the restructuring and performance of the existing portfolio of acquisitions.
Better Capital Pcc share price data is direct from the London Stock Exchange
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