Caledonia Investments Share Discussion Threads

[qs99] 06/9/2023 21:39

Discount does indeed look ridiculous IMO!

[steve3sandal] 06/9/2023 18:38

I was puzzled by the FT EV £400m comment. I guess it’s possible that Caledonian have a loan into some 7IM subsidiaries but I can’t find anything sticking out from a browse through Co House and various 7IM. I guess it will all come out in the wash. It was just a bit disappointing this morning that we only had a small uplift and quite some way below the offers invited above! If we take 7IM as cash now the NAV discount is quite silly now.

[18bt] 06/9/2023 18:10

Was the £300m just for the equity or might it have been EV and debt would need to be netted off?

[topvest] 05/9/2023 19:58

Still a very good turn on their investment and a £55m uplift on valuation. Agreed, with benefit of hinsight should have sold a year ago, but still think this is a timely sale ahead of a likely global recession.

[riverman77] 05/9/2023 12:47

Wasn't aware of an earlier 300m bid - clearly weaker market since then, but would probably prefer for them to wait for markets to pick up again and get a better price. They're not under any pressure to sell so could have easily waited a couple of years if necessary.

[essentialinvestor] 05/9/2023 12:03

Lovely. Sold a few.

[wskill] 05/9/2023 11:36

Pity the bright sparks did not accept the Brooks Macdonald bid of £300 million last year but have had to accept £255m - £13.5m they have to put back in the business .
Not the brightest plan

[flyer61] 05/9/2023 08:27

Having cash on deposit in the present environment suits here. They have a good long term record of finding value and I’m sure there will be opportunities a plenty for them to look at.

[steve3sandal] 05/9/2023 08:14

54.66 million shares in issue so a £55m uplift is £1 on the NAV. Bit disappointing exit price. On the other hand they have form in paying out uplifts on exits so a £1 special perhaps. Even that is a year away though. Oh well a bit of excitement this morning for us thrill seekers!

[belgraviaboy] 05/9/2023 07:17

Seems significantly lower than some of the numbers being suggested during the sales process?

[jaf111] 05/9/2023 07:10

Sale of 7IM news…..nice uplift in NAV to come…..

Subject to the exact timing of completion, Caledonia is expected to receive cash proceeds of c.GBP255m, net of transaction expenses, for the sale of its ordinary and preference shares in 7IM. The cash proceeds will be held on deposit for future investment. In its audited accounts as at 31 March 2023, Caledonia's shareholding in 7IM was valued at GBP187.1m excluding a further GBP13.2m which will be invested into the business prior to completion.

[dickiehh] 02/9/2023 22:11

Looks like good value here, anyone disagree?

[essentialinvestor] 21/8/2023 16:29

ah...perhaps look at wider equity markets...

[qs99] 21/8/2023 16:23

Graph looks a bit sickly what’s changed?

[essentialinvestor] 20/7/2023 12:47

There we go, 34.

[essentialinvestor] 19/7/2023 12:45

Nearly at the 34 price mentioned.

[jaf111] 13/7/2023 16:50

Hard to disagree with you EI based on recent history….
But with NAV holding above 50 and the sale of their largest investment at a decent price say £425m (valued at £187m at year end)
Then you never know….I still think these should be at 40 🤞🤞🤞

[essentialinvestor] 13/7/2023 16:10

Got to 36 in April on the earlier reports of the auction process starting.

Would not expect that again short term, but perhaps 34-34.50 ?.
Wider equity markets also have a bearing.

[essentialinvestor] 13/7/2023 13:25

Never dell here, eh

[essentialinvestor] 10/7/2023 17:38

* Pennon has been very weak over the last month, but in terms of their overall investments that's tiny.

PE sector being hit hard with longer term rising rates and some questioning valuations in this context, obvs for CLDN PE exposure is a % of a wider portfolio.

[coolen] 10/7/2023 16:05

Especially weak today. Any problems perhaps within their unquoted portfolio which others may have wind of ? (Not that there's any inside dealing of course)

[essentialinvestor] 28/6/2023 11:25

XD tomorrow, that Monday low bought very quickly back.

[essentialinvestor] 26/6/2023 12:03

Given the family holding not sure I see that happening, discount to NAV unlikely
to be high on the priority list - but never say never.

The quick buy/sell of 930 shares today was my trade.