Caledonia Investments Share Discussion Threads

[flyer61] 07/4/2022 15:56

12% of the NAV is cash and it's growing all the time.

[jaf111] 07/4/2022 15:07

Was there any reply to your 6 Feb email Skyship?

[spoole5] 07/4/2022 09:08

I think the fact they have stopped the buybacks indicates there could well be a special divi. 341m cash, 17% of market cap.

[skyship] 07/4/2022 09:05

Emailed them back on 6th Feb:
==============================

In May you will be announcing the Finals for the year to 31/03/22

It will be the 5th anniversary of the 100p Special dividend - made because of exceptional returns.

Well, the past 2 years will have seen a period of tremendously exceptional returns!

So, I'm emailing just to say that I hope the Board, having made disposals and built up a cash reserve last stated at £344m; will again decide to reward shareholders with a Special dividend.

This time around, it should be noted that a Special Dividend of 200p would cost just £109m - less than 32% of that last stated cash position.

[flyer61] 07/4/2022 09:05

With you Skyship on expecting a special dividend. Still cheap even with todays rise.

[skyship] 07/4/2022 08:52

That rise was baked in (see P. No. 421 above); so happily took advantage of this week's weakness, paying an average of 3510p. Should have bought more & missed that dip to 3465p yesterday.

Will hold for more as I expect next month's Finals will reveal a healthy Special Dividend. Looking for 200p.

[jaf111] 07/4/2022 08:04

Indeed.....a very decent NAV increase, and an unbelievable discount......

[spoole5] 07/4/2022 07:53

Great NAV update. Ridiculously cheap

[steve3sandal] 28/3/2022 12:15

I appear to have made this a conviction holding having watched it double in the past few years. Doh! I don't quite know why but the thing keeps trading with large moves down and then large retraces all the time with a very decent discount and a couple of catalysts for higher NAV in due course, as noted by earlier contributors. I guess the Putin disaster has created this volatility. GLA.

[badtime] 11/3/2022 12:46

Hmm got out too early lol

[badtime] 09/3/2022 20:20

Took a quick turn on those I bought at close to Mondays low

[skyship] 07/3/2022 07:29

free stock charts from uk.advfn.com

[spoole5] 07/3/2022 07:05

NAV holding up. 30% discount.

[tykethat] 04/3/2022 11:49

Lets see if the Buybacks start again this afternoon.

[badtime] 04/3/2022 11:03

Better price today

[skyship] 03/3/2022 16:31

Flyer - also added today - happily right down at the bottom at 3349.50p!

With the Bio sale uplift to come with the March NAV declaration; allied to the hidden value of 7IM, the discount well over 32% IMO. So a good stock to have as a core SIPP holding. Just wish they would be more generous with the dividend of course. As per my 412 above...


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[flyer61] 03/3/2022 15:31

Good to see you here Skyship! Picked a few more up today given the discount and prospects. One of my core SIPP holdings. The cash balance and the ultra long term view taken by the board should allow them to ferret out some really good deals.

[m_kerr] 26/2/2022 19:37

apparently they've rejected £300m for 7im. as i stated these are highly valuable assets.held at about £140m in the books.
hxxps://news.sky.com/story/asset-manager-brooks-macdonald-stalks-20bn-rival-7im-12549873

[skyship] 23/2/2022 13:43

Offered at 3460p. So tempting at a 27% discount; however chart bleak and perhaps support lower down on those FIB pink lines:


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[spoole5] 21/2/2022 20:12

I hope they will be buying back with these prices

[apple53] 19/2/2022 13:04

I am definitely wrong about the date. Completion was December not November.
Re. the gains, this earlier text is confusing

"The transaction completed on 22 December 2021 delivering gross proceeds of US$183m, net of fees. The BioAgilytix co-investment was valued at US$69m in Caledonia's accounts as at 30 September 2021. Caledonia has agreed to re-invest US$42m alongside Cinven and a consortium of investors including Cobepa, for a minority investment in BioAgilytix. Caledonia's proceeds were US$141m, net of fees and re-investment, of which US$138m was received on completion."

So it sounds like the proceeds are retained within Cobepa, and therefore within Cobehold, and the figures given are the 'look-through' amounts.

It's also true that there was no jump in December NAV, so I think I'm convinced, and extremely happy to have been wrong.

[skyship] 19/2/2022 09:44

Sorry Apple53 – I have to stand by my previous assertion as, in their 7th Jan Update they stated as below. So seems to me, perhaps unusually, the NAV is yet to include the increase arising from the BioAgilytix deal:

===========================================================

“Cobepa, the Belgian based investment company, owns a diverse portfolio of private global investments. The businesses within the Cobepa portfolio continue to develop well with corresponding growth in value. Cobepa was the majority owner of BioAgilytix prior to the transaction with Cinven. The impact of the transaction will be reflected in the March 2022 revaluation of our holding in Cobehold, the entity through which we hold our interest in Cobepa.”

[apple53] 18/2/2022 21:39

Just a belated apology to Tania67, who raised BioAg (which I am pretty sure did go into Nov NAV as you suggested). I was dopey and didn't realise this when sky posted about BioAg later on. I actually fooled myself into double-counting and over-estimating the NAV (and buying too early).

[m_kerr] 14/2/2022 20:13

their wealth management holdings are highly valuable assets and will prove very shrewd investments. there's been lots of m&a activity in the sector in recent years as it's a growth industry with great economics.

[ianood] 09/2/2022 10:33

Nothing wrong with following a shrewd family such as the Cayzer's who have been around and successful for donkey's.