Crystal Amber Share Price (CRS)

Share Name	Share Symbol	Market	Type	Share ISIN	Share Description
Crystal Amber Fund Limited	LSE:CRS	London	Ordinary Share	GG00B1Z2SL48	ORD 1P

	Price Change	% Change	Share Price	Shares Traded	Last Trade
	+0.00p	+0.00%	218.00p	4,740	08:00:00

Bid Price		Offer Price	High Price	Low Price	Open Price
214.00p		222.00p	218.00p	218.00p	218.00p

Industry Sector	Turnover (m)	Profit (m)	EPS - Basic	PE Ratio	Market Cap (m)
Equity Investment Instruments	3.30	-0.87	-0.88		212.4

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Crystal Amber (CRS) Latest News

Crystal Amber News

Date	Time	Source	Headline
19/10/2018	16:54	UKREG	Crystal Amber Fund Limited Form 8.3 - Johnston Press plc
19/10/2018	16:54	PRNUS	Crystal Amber Fund Limited - Form 8.3 - Johnston Press plc
12/10/2018	07:00	UKREG	Crystal Amber Fund Limited Transaction in Own Shares
12/10/2018	07:00	PRNUS	Crystal Amber Fund Limited - Transaction in Own Shares
11/10/2018	17:13	UKREG	Crystal Amber Fund Limited Director/PDMR Shareholding
11/10/2018	17:12	PRNUS	Crystal Amber Fund Limited - Director/PDMR Shareholding
11/10/2018	07:00	UKREG	Crystal Amber Fund Limited Transaction in Own Shares
11/10/2018	07:00	PRNUS	Crystal Amber Fund Limited - Transaction in Own Shares
10/10/2018	07:00	PRNUS	Crystal Amber Fund Limited - Monthly Net Asset Value
10/10/2018	07:00	UKREG	Crystal Amber Fund Limited Monthly Net Asset Value

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Crystal Amber (CRS) Discussions and Chat

Crystal Amber Forums and Chat

Date	Time	Title	Posts
22/10/2018	15:34	CRS - Crystal Amber	295
09/5/2011	12:57	Croesus - new gold mining play *	68
15/2/2004	09:48	Cockney Rhyming Slang	5

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Crystal Amber (CRS) Most Recent Trades

Trade Time	Trade Price	Trade Size	Trade Value	Trade Type
10:47:26	215.00	3,240	6,966.00	O
10:33:28	217.99	500	1,089.96	O
07:06:21	215.00	1,000	2,150.00	O
2018-10-22 15:16:53	217.99	4,000	8,719.68	O
2018-10-22 15:05:47	215.00	3,000	6,450.00	O

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Crystal Amber (CRS) Top Chat Posts

Date	Subject
23/10/2018 09:20	Crystal Amber Daily Update: Crystal Amber Fund Limited is listed in the Equity Investment Instruments sector of the London Stock Exchange with ticker CRS. The last closing price for Crystal Amber was 218p. Crystal Amber Fund Limited has a 4 week average price of 214p and a 12 week average price of 214p. The 1 year high share price is 236p while the 1 year low share price is currently 171.50p. There are currently 97,450,780 shares in issue and the average daily traded volume is 6,492 shares. The market capitalisation of Crystal Amber Fund Limited is £212,442,700.40. Read Full Thread Reply
05/10/2018 09:04	quepassa: I am surprised that this share price hasn't fallen given the recent poor performance of some of their holdings like Cenkos and De La Rue. I guess that their holdings in Cenkos are increasingly under water. Watch out below? ALL IMO. DYOR. QP Read Full Thread Follow Reply
26/9/2018 11:29	carcosa: QP, I don't see anything exotic in CRS at all! ~10% discount is relatively unusual for CRS based on historic data. FFX being up 4% today makes a small impact on overall NAV. My point is that in aggregate with the other major shareholdings which have notably increased, the CRS share price has actually marginally declined giving rise for the 9% discount. Not sure why you picked out FFX when HUR is 28.6% of the fund NAV. Also it should be noted CRS still have substantial warrants over HUR shares which has the potential to add ot the NAV when exercised. CRS is high risk only in that it is a concentrated (but diversified) portfolio and that is the intent of the fund. You seem to have a negative attitude to CRS. I've been successfully trading them since 2016 with 'spare cash'. Have today bought back into the company. Lets wait and see where this is by year's end! Read Full Thread Follow Reply
07/9/2018 07:45	carcosa: Those shares you mentioned have been in the portfolio for a while, especially Woodford's. They are activist investors and almost be definition value investors. I say 'almost' because Hurricane Energy was (is) particularly speculative at the time of their initial investment. Personally I have bought shares in CRS as a short term hold when the discount to NAV is relatively large and Hurricane share price was/had moved ahead considerably. However best you keep track of the NAV yourself and keep up with CRS related RNS's as most (all?) NAV's are calculated throughout the year using their year end holdings which vary considerably by year's end. Alternatively holding on, directly, to one or two of the individual share(s) in their portfolio is a useful strategy if you want to keep track of specific company performance. Read Full Thread Follow Reply
13/6/2018 15:18	peterbill: hxxp://citywire.co.uk/investment-trust-insider/news/crystal-amber-managers-snap-up-shares-as-discount-widens/a1119506 The activist fund managers of AIM-listed Crystal Amber (CRS) have purchased £150,000 of shares in the UK smaller companies investment trust after a widening in their discount to net asset value (NAV). An announcement to the stock exchange shows Crystal Amber Asset Management purchased 75,000 at £2 each on 11 May. Final results posted in September showed the managers owned just under 4 million shares representing a 4.05% stake in the trust. This is separate from the share buyback scheme the £213 million trust has in place. Since the company’s interim results in March, the fund has repurchased 275,000 shares for an average price of 195.7p and a total of £539,750. The company, whose main shareholders include fund managers Mark Barnett and Neil Woodford, has been clear about its plans to try and maintain a low discount. In the interim results, chairman Christopher Waldron, who also chairs the under-fire Rangere Direct Lending (RDL), said the share buyback programme has ‘continued and contributed to maintaining a low average discount to net asset value (NAV) of 1.8% over the [six months to 31 December]’. However, that discount has widened this year to its current position of 8.5%, above its average for the past six months of 2.1%, according to Numis Securities data. Part of the problem could be the 6.7% fall in the NAV witnessed in the half-year results despite a successful partial exit from marinas company Sutton Harbour (SUH) that earned it £900,000. It also saw positive contributions from online currency business FairFX (FFX), and cyber security firm NCC (NCC). However, the trust said it was still working with Hurricane Energy (HUR) to appoint a ‘credible chairman’ following problems with the oil explorer that operates in the seas west of the Shetland Isles. Crystal Amber saw a slump in its share price after Hurricane, its largest holding, ran into problems. Hurricane’s share price nearly halved within two months on the back of what the trust said at the time was ‘poor handling’ of a warrant issue and comments by the oil explorer’s management team about funding and delivering an ‘early production system’. Read Full Thread Follow Reply
26/7/2017 16:11	charlie: Reduced position in Hurricane. Apparently from 12% to 8% all on 24 July. Seems a little curious given recently expressed enthusiasm. Perhaps unhappy with the convertible financing? I guess worry could be convertible arbitrageurs now in control of the share price for a long time. But Crystal Amber also unhappy with previous warrant issue (per RNS 23 June)! Hurricane have to raise money somehow. Alternative interpretations or conspiracy theories welcome. Read Full Thread Follow Reply
04/5/2017 14:11	carcosa: New high probably because Hurricane Energy up ~10% worth about 3% in share price action to CRS Read Full Thread Follow Reply
10/2/2017 11:27	phowdo: Increased their stake in GI Dynamics. hTTp://www.investegate.co.uk/crystal-amber-fund-limited--crs-/prn/investment-in-gi-dynamics-inc/20170210111029P20CF/ The Fund believes that GI Dynamics has a world class technology, addressing an unmet clinical need, with its current share price a function of shareholder disillusionment resulting from past management disappointments. The Fund, in conjunction with its Investment Adviser, now looks forward to working with the GI Dynamics board to fully capitalise on what the Fund believes is GI Dynamics’ highly scalable potential. Read Full Thread Follow Reply
24/10/2016 20:43	bones: After recent advances by Hurricane Energy (HUR) share price, nearly 30% of CRS net asset value is represented by HUR shares. Since that report, last week it was announced that CRS will be subscribing many millions for the latest placing in HUR. Plus CRS hold warrants in HUR to subscribe for over 23M shares at 20p (currently 40p a share in the market).The managers must be having split loyalties between running their big winner and derisking the percentage holding as a proportion of overall net assets! Read Full Thread Follow Reply
15/9/2014 09:51	davebowler: I C article; ning small-cap profits Shares in Aim-traded investment company Crystal Amber (CRS: 142p), one of my winners from last year when the price surged 56 per cent on my buy-in price ('Small-caps to buy now', 3 December 2012), have drifted modestly since the spring. When I updated my advice at the end of the year the price was 154p and I recommended running profits on the basis that more than half of the company’s investment portfolio was held in 10 companies, the majority of which I saw clear value in. That gave me enough confidence to believe that the shares would continue to track upwards with the market and offer scope to maintain their outperformance. In the event, Crystal Amber’s share price peaked out at 157p at the end of the first quarter, in line with the company’s net asset value at the start of the year. Small cap indices have been struggling to make headway this year, so given its weighting to this segment of the market Crystal Amber has not surprisingly put in a more subdued investment performance too. The company’s latest net asset value is 156.3p, down from 160.8p at the end of June and unchanged from the start of the year. Currently priced on a bid offer spread of 141p to 142.5p, the shares are rated around 8.8 per cent below end of July book value. I would expect that discount to narrow in the event of an autumn stock market rally and one I have already gone on record as stating is likely (‘Simon Thompson’s market outlook’, 11 August 2014). In that scenario, I would also anticipate an improvement in sentiment towards the perceived higher risk small cap segment. There is scope for enhancing book value through an ongoing share buy-back programme too. For instance, in the second quarter this year Crystal Amber bought back 1.44m shares at an average price of 149.09p as part of its previously announced buyback policy. It was smart business because a couple of months ago 1.15m of these shares were sold at a price of 158p per share, which equated approximately to the net asset value of the company at the time, in consideration for the acquisition of 5.7m shares in NBNK Investments (NBNK: 45p), representing 10.6 per cent of that company’s issued share capital. In 2011, NBNK competed against the Co-op to acquire 631 Lloyds TSB and Cheltenham & Gloucester branches, in earlier rounds. However, when the Co-op failed to complete, Lloyds went ahead with plans to float the business, culminating in the recent IPO. Since failing to buy the branches, or find another banking business to acquire, NBNK's operations have been scaled back and costs reduced to a minimum. As a result, the shares had fallen out of favour, so much so that over the second quarter this year, Crystal Amber increased its stake in NBNK to 25.11 per cent, having acquired its holding at 15 per cent below the value of NBNK's reported net cash. It was an opportune purchase and a low risk one too: NBNK's share price increased by 43.8 per cent between April and June this year, fully justifying Crystal Amber’s investment. The investment accounts for 8.3p a share of Crystal Amber’s net asset value of 156.3p. Crystal Amber's portfolio at 31 July 2014 Top 10 holdings Pence per share Percentage of investee equity held AER Lingus 14.3p 1.9% Sutton Harbour 11.2p 29.2% 4imprint 10.7p 4.2% Thorntons 10.1p 10.2% Leaf Clean Energy 9.9p 15.9% Tribal 9.3p 4.6% Juridica Investments 8.7p 4.5% NBNK Investments 8.3p 26.2% API 8.1p 11.6% TT Electronics 7.4p 1.9% Total of ten largest holdings 98p Other investments 55p Cash and accruals 3.3p Total NAV 156.3p Investments with potential Of the other investments Crystal Amber holds, I am keen on prospects for both Aim-traded property company and marina operator Sutton Harbour (SUH: 31.5p), a company I updated my view on last month (‘Set fair for gains’, 10 July 2014); and also Aim-traded packaging materials group API (API: 73p), a leading manufacturer and distributor of foils, films and laminates used to enhance the visual appeal of products and packaging. I updated my advice on API last month too (‘Packaged for gains’, 15 July 2014). Sutton Harbour accounts for 11.2p a share of Crystal Amber’s book value and API a further 8.1p a share. I also see upside in the Aim-traded high-yielding shares of Juridica (JIL: 134p), a company that provides funding for civil corporate litigation in cases where the plaintiff has a strong case but lacks the finances or time to proceed. Crystal Amber owns a 4.5 per cent shareholding in the company to account for 8.7p a share of its net asset value. There is recovery potential in the shares of chocolate maker Thorntons (THT: 108.5p) if the company can deliver the 30 per cent EPS growth analysts predict in the current fiscal year to end June 2015. On this basis, the PE ratio drops from around 13 to 10. Thorntons is one of Crystal Amber’s top 10 holdings, accounting for 10.1p a share of its net asset value of 156.3p. Another core holding is Tribal (TRB: 174p), a company providing schools and universities with student management systems, inspections and surveys. The shares are rated on a modest 13 times earnings estimates and are a live IC buy tip. Crystal Amber owns 4.6 per cent of the company’s share capital and this accounts for 9.3p a share of its own net asset value. Keeping an open mind I do have reservations on some of the other top investments though and I am keeping an open mind on Crystal Amber’s largest holding, AER Lingus (AER: €1.35), the Irish flag carrier whose trading has been negatively affected by the threat of strike action by cabin crew. True, a resolution to labour issues, and clarity surrounding pressure on Ryanair to dispose of its 29.8 per cent stake, could provide the catalyst for realising shareholder value especially as the company retains €585m of net cash on its balance sheet, or the equivalent of 80 per cent of its market capitalisation is €731m. However, given the uncertainty caused by the labour dispute, the board’s current guidance is that operating profit will be 10 to 20 per cent below last year when the company reported adjusted profit of €61m. AER Lingus accounts for 14.3p a share of Crystal Amber’s net asset value. I am also keeping an open mind on the company’s 15.9 per cent shareholding in Aim-traded investment company Leaf Clean Energy (LEAF: 40p). This stake accounts for 9.9p a share of Crystal Amber’s book value per share. Interestingly, Leaf Clean Energy’s board has just announced that it will pursue a strategy to realise value from its portfolio of investments and return capital to shareholders. If successful, and there is significant execution risk here, then you would expect Leaf Clean Energy’s share price discount to book value to narrow significantly in time given that net asset value is more than double its current share price. Six weeks ago Crystal Amber increased its holding in Leaf Clean Energy from 10.3 per cent to 15.9 per cent, acquiring over 7m shares at around 30p. Crystal Amber initial acquisition of 11.612m shares in Leaf Clean Energy in October last year valued each share at 46.5p, so I reckon the carrying value of the stake is around the current share price, or well under half Leaf Clean Energy’s net asset value of 85p a share. Upside/downside risk Importantly, the team managing these interests are ready to bank profits where they believe maximum value has been realised. That’s always a good sign. Positions exited in the second quarter included newspaper and magazine distributor Connect (CNCT: 154p) and shower supplier Norcros (NXR: 18.2p). Crystal Amber realised profits of £2.7m and £3.9m, respectively, not insignificant for a company with a market capitalisation of £111m. So having assessed the merits of each company in Crystal Amber’s current portfolio, on balance I can see further upside potential in its portfolio which is now 98 per cent invested in equities. Therefore, if you followed my advice to buy Crystal Amber shares I would continue to run your profits. Read Full Thread Follow Reply
05/11/2013 17:51	cockerhoop: Edwardt, It's only just over a year that the CRS share price was at a 24% discount to NAV, i'm not quite sure what the reason was there!! :-) Read Full Thread Follow Reply

Crystal Amber share price data is direct from the London Stock Exchange

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