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Share Name Share Symbol Market Type Share ISIN Share Description
Chenavari Capital Solutions Limited LSE:CCSL London Ordinary Share GG00BMGNHZ00 RED ORD NPV
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 47.58 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
35.00 60.16
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 2.76 1.26 1.32 36.0 22
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 47.58 GBX

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24/7/201507:45::: Chenavari Capital Solutions Limited :::51

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Posted at 07/2/2023 08:20 by Chenavari Capital Soluti... Daily Update
Chenavari Capital Solutions Limited is listed in the Equity Investment Instruments sector of the London Stock Exchange with ticker CCSL. The last closing price for Chenavari Capital Soluti... was 47.58p.
Chenavari Capital Solutions Limited has a 4 week average price of 0p and a 12 week average price of 0p.
The 1 year high share price is 0p while the 1 year low share price is currently 0p.
There are currently 45,605,992 shares in issue and the average daily traded volume is 0 shares. The market capitalisation of Chenavari Capital Solutions Limited is £21,699,330.99.
Posted at 27/5/2015 06:24 by jonwig
Revised dividend policy:

http://www.investegate.co.uk/chenavari-capital--ccsl-/rns/dividend-policy-and-target-returns/201505270700332952O/

They seem to admit that their previous policy was unsustainable, having been met by using capital as well as income.

So now it's 2p for the next two quarters, with no capital element and - I suspect - below that thereafter.

Posted at 23/4/2015 09:13 by stemis
I did hold RECP but sold at 108.85p for the reasons you outline. Recently I've been a buyer of ICG Longbox, which reported today. Yield is only 5.7% (payable quarterly) but it's fully listed and bid offer is reasonable so I'm parking some cash there. It's making about 8% return (relative to share price) so should see NAV creep upwards as well. 8% return would be fine. Also looking at SQN but less happy about underlying portfolio.
Posted at 22/4/2015 15:34 by skyship
"I either find better yields (hard) or lower yields (5%) that will grow."

It is increasingly difficult to fulfil those requirements.

My banker remains RECP - 106p-107.5p - At the offer price of 107.5p the current yield = 7.44%, but the GRY is now at only 4.57%. Won't sell as at the bid price the GRY is still a (barely) acceptable 5.18%.

Having to continue fishing in the NAV discount waters of PE Trusts & propcos.

For the first time since 2001 I have lowered my target expectations from 12%pa to 7%pa. Currently at +3.8%; but that is after the usual strong Q1; and with so many uncertainties out there I will still be happy to achieve 7% this year.

Posted at 22/4/2015 09:54 by jonwig
Part of the issue with the CCSL /bank involvement is risk of regulation - the EU regulators have mentioned restricting capital transactions. For me it's a difficult world to understand, or get close to.

Ranger - I think ultimately the security of loans will be down to property assets, either owned by companies or given as security by company owners. And if loans are at variable rates, this can put extra strain on the borrowers. US into recession?

So I'll pass it by for the present, but keep an eye open. As with Carador Income Fund, there was a strong buying opportunity following the GFC. (I'm out of that, suppose you too?)

Posted at 01/2/2015 12:32 by skyship
Concerned at one of the stats in that annual Report - 27% of NAV comprises SME loans in Portugal - perhaps not such a good idea.

See the last few paras of this article:

http://www.telegraph.co.uk/finance/economics/11381071/Europes-creditors-play-with-political-fire-in-pushing-Greece-to-the-brink.html

CCSL has been on my Watch-list for quite sometime. But though the NAV premium has been unravelling; it may well be with good reason!

Posted at 13/12/2014 09:58 by jonwig
Thanks for pointing that out - CCSL has been off my radar for a while.

But what banks have too much sub-investment grade O&G debt on their books? Russian bonds? Greek bonds?

Far too risky for me, now, especially when I haven't the information to measure the risks.

Posted at 24/9/2014 06:48 by jonwig
speedsgh - sorry, I've only just seen your query.

The prospectus (Oct 2013) suggested a first year dividend of 5p and for it to be fully invested after 12 months with a target return of 12% which will mostly be paid out as dividends.

In fact they paid 4p in August and were 67% invested at that point; one new investment since then. Whether they'll reach a 10p dividend in the current year I don't know.

FWIW, I sold out at the end of July for 109p (cum div) so didn't collect. No particular animus against CCSL, but have withdrawn a lot of money from the market, and that was at the riskier end of my holdings.

Posted at 02/9/2014 12:55 by wirralowl
Oops! Thanks scottie! Hadn't seen the replacement IMS, was going by the earlier RNS below, but you are correct:

RNS Number : 7786M

Chenavari Capital Solutions Limited

18 July 2014

18 July 2014

CHENAVARI CAPITAL SOLUTIONS LIMITED (COMPANY)

CHENAVARI DECLARES DIVIDEND FOR PERIOD ENDED 30 JUNE 2014

The Company is pleased to announce the payment of a dividend in the amount of 4.0 pence per share for the period ended 30 June 2014.

The dividend will have a record date of 1 August 2014 and will be paid on 15 August 2014.

Posted at 27/6/2014 12:37 by skyship
18 June 2014 - Net Asset Value Per Share

Chenavari Capital Solutions Limited announced the following unaudited, estimated net asset value per share as at 31 May 2014:

Ordinary Share: GBP 1.0227
==========================

Posted at 05/4/2014 13:38 by jonwig
Skyship, Dendria - yes, I bought soon after IPO.

They haven't said any more about their yield hopes (targets), and the recent share price action suggests their basic business plan is on track.

The main concern is that the EU is busying itself with investigating and maybe controlling these capital ratio deals, but I've heard nothing since float.

A EU-wide banking union would gold-plate their existing contracts, I feel, but maybe lead to a shortage of new ones.

Dendria - do check with your ISA provider that they'll accept CCSL:

[Prospectus p 78] -

Shares acquired in the
secondary market should be
eligible for inclusion in a
stocks and shares ISA,
subject to applicable
subscription limits.
Investors resident in
the United Kingdom who
are considering acquiring
Shares in the
secondary market are
recommended to consult
their own tax and/or
investment advisers
in relation to the
eligibility of the Shares
for ISAs and SSAS/SIPPs.

In theory they should, but I had an argument with TDD about whether they would even let me invest in them (mine are outside my ISAs).

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