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Share Name Share Symbol Market Type Share ISIN Share Description
City Of London Investment Group Plc LSE:CLIG London Ordinary Share GB00B104RS51 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  2.00 0.46% 437.00 436.00 445.00 445.00 431.00 445.00 14,793 16:35:14
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 33.3 9.4 30.3 14.4 221

City Of London Investment Share Discussion Threads

Showing 2601 to 2622 of 2700 messages
Chat Pages: 108  107  106  105  104  103  102  101  100  99  98  97  Older
DateSubjectAuthorDiscuss
21/6/2020
12:13
OK Absurd.............tail between legs!
eggbaconandbubble
21/6/2020
12:09
Barry Olliff is retiring and still has circa 1.8m shares in CLIG. Why would there be some requirement for him to buy such a small parcel of shares as part of the deal but not any of the executive directors? Furthermore, it would have been disclosed in the published Circular and Prospectus. It's absurd ! As I previously noted in #2517 "Barry Olliff back in to buy £60K worth of shares @370p in contrast to his planned disposals @450p and 500p. Looks like he thinks that the Karpus deal will send the shareprice north of those threshold levels !"
masurenguy
21/6/2020
11:20
Directors.
skinny
20/6/2020
17:45
But I thought he had retired? So he is still on the board as a non-executive.
pvb
20/6/2020
16:17
Why not??? If I bought, reversed into or merged with a quoted company the first thing I would like to see is the share price rising post the deal! What better than the market seeing the management buying in?
eggbaconandbubble
20/6/2020
15:27
Why would the Karpus deal include a clause requiring Barry Olliff to buy 16,500 shares? It's absurd !
masurenguy
20/6/2020
12:32
Point taken!
eggbaconandbubble
20/6/2020
11:07
If it were part of the deal it would be reasonable to expect, especially in the case of a company with the probity of CLIG, that we would have seen a clause to this effect in the published terms of the deal.
nobbyx
19/6/2020
18:40
mmmmmh Interesting! Very interesting! Or was it part of the deal????
eggbaconandbubble
19/6/2020
18:06
Barry Olliff back in to buy £60K worth of shares @370p in contrast to his planned disposals @450p and 500p. Looks like he thinks that the Karpus deal will send the shareprice north of those threshold levels !
masurenguy
12/6/2020
14:07
12 June 2020 CITY OF LONDON INVESTMENT GROUP PLC Publication of Circular and Prospectus and Notice of General Meeting Further to the announcement by the Company on 9 June 2020 relating to the proposed Merger of CLIG with Karpus Management Inc, the Company announces that the combined prospectus and circular in respect of the Merger (the "Circular") has been approved today by the FCA. The Merger is conditional, inter alia, on approval by Shareholders. The Circular contains a notice convening a general meeting of the Company to be held at 77 Gracechurch Street, London EC3V 0AS at 2.00 p.m. on 13 July 2020. The expected time of principal events is as follows: Latest time and date for receipt of Forms of Proxy 2.00 p.m. on 9 July 2020 General Meeting 2.00 p.m. on 13 July 2020 Expected date of Completion 1 October 2020
masurenguy
10/6/2020
08:11
Yes 1.2x cover on 47p EPS is around 39p dividend, and on 2022's 51.8p it's 43p. Lots of 'ifs' and 'buts' around the EPS forecasts but you get my point. The Karpus FUM aimed at preserving rather than accumulating wealth may provide increased stability of FUM after merger.
cockerhoop
09/6/2020
21:10
Eggbaconand bubble you silly sausage! Of course he means light. Well I think so anyway.
mach100
09/6/2020
13:46
'light' or 'right' ?
eggbaconandbubble
09/6/2020
13:14
If the Hardman Eps f/c's are anywhere near close (so dependent on FUM to be of much worth imo) the dividends f/c are light if as CLIG suggested today 1.2x divi cover is maintained as a guide.
cockerhoop
09/6/2020
11:17
Encouraging estimates in the Hardman note on the dividend... 2020E - 28.0p 2021E - 30.0p 2022E - 33.0p
speedsgh
09/6/2020
11:05
frazboy, the Hardman research note linked above makes this point. There is a 12-month lock-up so no improvement in liquidity until at least then, regrettably.
stun12
09/6/2020
10:26
I guess the key benefit to both parties is diversification? I'm not convinced it'll benefit liquidity much as, presumably, most of the new shares will end up with Karpus, himself.
frazboy
09/6/2020
08:44
Gre, The Karpus founder is retiring, releasing his bonus ($15.4m last year) to profits. Therefore should be earnings enhancing. Hardman very bullish with EPS upgrades of approx 15% for 2021 47.1p & 2022 51.8p hTTps://www.hardmanandco.com/wp-content/uploads/2020/06/CLIG-report-9-June-2020.pdf
cockerhoop
09/6/2020
07:56
I'm a long term holder and was big fan of CLIG under the leadership of Barry Olliff. However I'm not sure about the logic of this deal. CLIG's admin costs are roughly 64% of net fee income and the company makes a healthy profit . In the case of Karpus admin costs (including VERY generous staff bonus payments)exceed net fee income. As a result Karpus has made an operating loss in the last two years. Unless Mr Karpus accounts for most of the bonus payments and he is retiring then what's in it for us? I'd be interested in other people's thoughts?
gre
09/6/2020
07:01
Looks like an interesting diversification presumably triggered by George Karpus seeking to retire. Should enhance their growth potential in the US. Good to see no indication of any leaks on this deal. Dividend policy remains as stated. For the financial year to 30 June 2019, the Board declared dividends of 40.5 pence per Share (calculated based on the weighted average number of Shares in issue for the year). This included a special dividend of 13.5 pence per Share. The Board of CLIG attaches great importance to providing Shareholders with a stable flow of dividends, balanced by a policy of prudential capital management. To this end, the Board has for some years adhered to a dividend cover ratio of 1.2 times profit after taxation attributable to Shareholders based on rolling 5-year periods, using accumulated retained earnings to address any short-term profit shortfalls that derive from volatility in the markets in which CLIM invests. The Board of CLIG intends to continue with the same dividend policy on Completion of the Merger.
masurenguy
09/6/2020
06:57
OTS divis,I saw this; ..............The KMI Stockholders will further agree to waive their entitlement to receive: (i) the final dividend declared on the Shares in respect of the financial period to 30 June 2020 in respect of their entire holding of Shares; and (ii) the interim and final dividend declared on the Shares for the financial period to 30 June 2021 in respect of such percentage of their holding of Shares which represents the number of days in that financial period for which they do not hold Shares, divided by 365. ....so the CLIG year end is 30.06.20,and the final divi expected is circa 18p (if same as 2019 final),logically,if the new shareholders are not getting it( see text of agreement) then that suggests the old shareholders like us, are. That means final divi will be paid but the amount is not clear. With FUM at 5bUSD as of now , i think 18p is do-able.
robsy2
Chat Pages: 108  107  106  105  104  103  102  101  100  99  98  97  Older
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