| Date | Subject |
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23/8/2016
11:19 | jumbone: Agree there was some confusion between City of London Group (CIN)and City of London Investment Group (CLIG)
But look at the positives ...
1. The Bard family (5 of them)increase their holding to over 26% (in Nov 2015)
2. The old ineffective BOD is purged
3. Their investment in CAML is growing..
4. They are to recognise 1.5 mill GBP profit from the sale of Therium this year Which it self is 4.07 p per share
5. Add to that their investment (85% Ownership) in CAML with over £ 20 mill investments
6. Which before the injection of £ 5 Mill last year was valued at 6.3225 p per share
7. As per their reports CAML is showing substantial improvement in its operating results
8. All of these for a share at 3.50 p for a NAV of 10.3p Plus is a steal by any standard
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23/8/2016
11:04 | the shuffle man: I see you have changed your previous post that referred to CLIG and not CIN so at least you are now talking about the correct company.I hope you are correct with the valuation.Not sure what significance today's recognition will have.Has this been ramped somewhere as big volume the last few days after hardly anything for ages.
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23/8/2016
10:54 | jumbone: Shuffle Man
No I am referring to CIN
This from their last year's AR:
Key developments
• Litigation funding associate, Therium sold in April 2015 for a profit of £1.5m
• Group now entirely focused on SME and professions funding
• Trade Finance Partners has more than doubled its revenue
• Credit Asset Management reports substantial improvement in its operating results
• Cost savings of 55% in central overheads achieved
• Credit Asset Management has completed a preference equity issue of £5m towards building a £20m own book portfolio
• Conditional equity fund raising of £3m to £6m to fuel further growth and intention to transfer to AIM announced separately
Financial results
• Loss before tax £1.6m after exceptional loss of £0.4m (2014: loss before tax
£5.2m)
• Underlying loss before tax £1.2m* (2014:underlying loss before tax £4.2m*)
• NAV per share of the Company 42p (2014: 47p)
• Consolidated NAV per share attributable to shareholders 28p (2014: 34p)
• Profit on the sale of Therium of £1.5m will be reflected in 2016 results
hxxp://www.cityoflondongroup.com/financialreports/150729%20City%20of%20London%20Annual%20Report(WEB).pdf
The value of CIN's investment was valued at £2,330,000 in Sept 2015
There are 36,852,681 shares in issue
Which makes that investment alone worth 6.3225 p per share at last year's valuation
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23/8/2016
09:48 | the shuffle man: JumboneYou are referring to a different City of London LMAOThis one is CINCompletely different to the one you are referring to.
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11/11/2009
21:40 | topvest: Some encouraging news here.
New management team.
Prospect of a dividend at the full year with deficit on distributable reserves resolved.
Cash of £1.3m.
Possible offer still in the background.
NAV 79p.
They made some great Aussie coal seam investments a year or two ago which have yielded enormous profits.
Shame they were stupid enough to invest a £m or so in ARC which was a pile of rubbish from day 1 and was run by a bunch of what I believe to be very suspect individuals. Anyway things looking up. The Munro Fund is loss making, but is a good idea for the prudent investor.
Encouarged to hold these until we get a better exit or some more exciting opportunities.
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18/12/2008
21:15 | topvest: Interim results were ok, except the dividend cut which was a shame. The investment in ARC Fund Management was a bit of a disaster. Renwick Haddow seems to have convinced Lord Ashcroft and COLG to buy a pile of rubbish with an FSA authorisation for lots of money. Looks like they were had!
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08/11/2006
08:58 | hallums: topvest
Nice upward movement this morning - hope it can hang on at this higher level.
All announcements very positive and a return to the dividend list is an excellent omen.
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21/8/2006
20:03 | topvest: Bit of a bounce today. Maybe some news on the strategic front? Maybe wishful thinking...who knows! Things much more encouraging here though with a dividend likely at the year-end, a share price below NAV, a booming Mining PR division and the prospect of a corporate move at some point. I suspect the Chairman may want to retire at some point now that he has restored their fortunes. Not the most exciting of shares these days, but you never know what is round the corner!
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30/10/2004
08:26 | topvest: Just taken a look at the Connected.com web-site.....very interesting. Two points of interest...the archiving product is all over the front page and was probably the reason that Iron Mountain bought the company, particularly given that they are a storage company:
1, See the demo and other info including latest sales and the fact that it has just received an award for storage product of the year.
http://www.connected.com/News/Releases/2004_releases/Deloitte_Fast_50_Software_Magazine_500.asp
It proves that CIN had done the ground work on this and produced a great product. Unfortunately the upside is limited, but may be a chance of more than the minimum royalties expected!
2, Consideration in cash is as follows, assuming no dilution in 2004:
US$117m @ 1.8 exchange rate * 1% = £650k.
http://www.connected.com/News/Releases/2004_releases/Atlantic.asp
Under the existing terms of the sale agreement CIN were due to have received US$300K on 30 September 2004. All shaping-up quite nicely.
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28/10/2004
21:54 | topvest: fegga - thanks, hadn't seen that - well, that's US$1m+ for CIN later on this year plus the royalties. It will mean a good profit this year for CIN and an opportunity to start again with a very robust balance sheet. We could be in for a transformational end to the year, if CIN can also announce some robust plans going forward.
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