Share Name Share Symbol Market Type Share ISIN Share Description
Cip Merchant Capital Limited LSE:CIP London Ordinary Share GG00BF8NW879 ORD NPV
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 58.50 27,930 08:00:00
Bid Price Offer Price High Price Low Price Open Price
57.00 60.00 58.50 58.50 58.50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments -3.43 -6.00 32
Last Trade Time Trade Type Trade Size Trade Price Currency
14:44:37 O 1,200 58.25 GBX

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Date Time Title Posts
12/9/202111:34::: CIP MERCHANT CAPITAL LIMITED :::85

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Cip Merchant Capital (CIP) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2021-09-17 13:44:3858.251,200699.00O
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Cip Merchant Capital (CIP) Top Chat Posts

Cip Merchant Capital Daily Update: Cip Merchant Capital Limited is listed in the Equity Investment Instruments sector of the London Stock Exchange with ticker CIP. The last closing price for Cip Merchant Capital was 58.50p.
Cip Merchant Capital Limited has a 4 week average price of 54p and a 12 week average price of 54p.
The 1 year high share price is 63.50p while the 1 year low share price is currently 42.50p.
There are currently 55,000,000 shares in issue and the average daily traded volume is 37,422 shares. The market capitalisation of Cip Merchant Capital Limited is £32,175,000.
skyship: I hold two small investment companies - CIP with a MCap of £32m and a current NAV discount of 37.7%; and the much smaller PRIM with a MCap of just £6m and a current NAV discount of 38.2%. # CIP mainly invested in UK listed stocks - PRIM wholly invested in private pre-IPO cos. # The investment managers of CIP hold 8.2%; The Exec. Chmn of PRIM holds 23% The Risk/Reward ratio for both seems extremely attractive
skyship: Net Asset Value almost hits 94p: CIP Merchant Capital announces that as at 3 September 2021 the unaudited net asset value ("NAV") per ordinary share was 93.93 pence.
riskvsreward: Not just the management fee, the profit share is set at 20%, even higher than most hedge funds and absurd for persistent poor performance. The directors are sleeping on wheel and it is about time to shake it up or wind it down.
skyship: I was well pleased that ST revisited CIP this week; however I would hope that on some occasions he would challenge management on the negatives, rather than just listing the positives. In the case of CIP the positives are the discount; and the opportunity to buy into a select portfolio of microcaps. The negatives are more apparent to the long-term holders: # The 19% decline in asset value over the 3yrs since two Italian private equity managers took control. A pretty lamentable performance by any measure. # That underperformance compounded by the 2%pa management fees - a level one might expect from a successful hedge fund # Further compounded by the fact that the fees are levied on cash balances - something pretty verboten these days; but not recognised by the Italian duo it would seem. # Over the 3yrs to Dec'20 they have charged a total of £2.88m in management fees - a full 30% of the asset value decline - shifted from shareholders into Italian pockets! The Directors have got to change things; and I have suggested to Simon Thompson that there are a number of things which might rectify matters: # Most importantly and easily done: No management fees on cash balances # The Company strategy at launch was for capital gain, so no dividends. As they have blatantly failed on that score; they should provide shareholders with some measure of return. I would suggest taking a leaf from Private Equity and offer an annual dividend levied at the rate of 3% of NAV # They should institute a 3yrly Continuation Vote # …and finally they should confirm that Interim and Preliminary statement should be published within 3 months of the half year and end year - the Prelims on 1st June were far, far too late
shaker44: So promoted again by Simon Thompson today yet his last 2 promos of CIP still leave a heavy discount to NAV. Is there a 'trust' issue here? Management or regulator or both? Given the shortage of good PE deals, surprising a bid hasn't emerged if it's as good as it looks on paper.
skyship: CIP Merchant Capital announces that as at 28 May 2021 the unaudited net asset value ("NAV") per ordinary share was 87.62 pence.
skyship: 10 days ago CIP paid 40.36p for 1.55m VTU. Yesterday they jumped to 48p after delivering a great set of Finals. Dropped back to 46p....but still, VTU was a nicely timed investment, albeit only c1.5% of the port. "These results, which are ahead of expectations, are outstanding in the Covid interrupted circumstances. I am proud of the entire Vertu team for their adaptability and effort to deliver these remarkable results."
skyship: RCTurner2 asked over on the Private Equity thread (PE) whether we viewed CIP as a private equity company. I answered: No - CIP is an investment company - like PRIM, though 5x the size. CIP is an interesting one as over recent months they successfully rejected that "fishing" putative offer of a miserly 50p/share. The rejected suitor (Corp. Financiere Europeene) was left with an unmarketable 16.36% stake. What does it do - well, on 30th March it increased its stake, adding c418,000 shares to 17.12% (9.413m shares). So what next, will they return with a more sensible offer; or will they do a deal with CIP and convince them to buy back their stake at, say, 55p. Would seem a sensible solution as it would of course be accretive to CIP's underlying NAV. The current 88.25p would rise to 95.1p
hugepants: An investment in Vertu and an offer for Proactis. https://www.investegate.co.uk/cip-merchant-capital--cip-/rns/investment-in-vertu-motors-plc---notice-of-results/202105040700133325X/ Proactis was one of the smaller investments but NAV should still be up about 1.5p to approx 86p
rcturner2: NAV going in the right direction, now 83p. Huge discount to NAV at the current share price.
Cip Merchant Capital share price data is direct from the London Stock Exchange
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