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GABI Gcp Asset Backed Income Fund Limited

68.20
0.00 (0.00%)
Last Updated: 08:56:32
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Gcp Asset Backed Income Fund Limited LSE:GABI London Ordinary Share JE00BYXX8B08 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 68.20 69.20 70.80 68.20 68.20 68.20 20,440 08:56:32
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Trust,ex Ed,religious,charty 15.18M 7.69M 0.0181 37.68 290.28M
Gcp Asset Backed Income Fund Limited is listed in the Trust,ex Ed,religious,charty sector of the London Stock Exchange with ticker GABI. The last closing price for Gcp Asset Backed Income was 68.20p. Over the last year, Gcp Asset Backed Income shares have traded in a share price range of 51.20p to 78.40p.

Gcp Asset Backed Income currently has 425,626,059 shares in issue. The market capitalisation of Gcp Asset Backed Income is £290.28 million. Gcp Asset Backed Income has a price to earnings ratio (PE ratio) of 37.68.

Gcp Asset Backed Income Share Discussion Threads

Showing 226 to 250 of 250 messages
Chat Pages: 10  9  8  7  6  5  4  3  2  1
DateSubjectAuthorDiscuss
14/3/2024
16:49
Skinny - good point. I had forgotten about and did not update my model, possibly because I thought it made no difference. (unless they extend again!)

In any event, I am initially looking at this with a horizon of one to two years.

chucko1
14/3/2024
16:22
Can't speak for others but I've been working off the 29th Jan update
frazboy
14/3/2024
15:39
In terms of loan repayment schedule, I presume you are working off the Oct 2023 GABI portfolio report wrt 30-6-23?
stemis
14/3/2024
15:02
Jam62

FWIW the idiot down ticker is ALMOST ALWAYS Neilyb675. He won't ever justify himself as there IS no justification for it. HTH

theinquisitiveone
14/3/2024
14:55
Or, stop looking at the up and down thumbs. That "data" has never made a single penny difference to my portfolio, or I'd hazard anyone else's; it couldn't have less signal nor more noise.
hpcg
14/3/2024
14:47
Will the idiot down ticker please reveal himself/herself. Please elucidate as to your apparent negativity.
jam62
14/3/2024
14:15
Thanks Chucko, good to validate my numbers with yours.

I suspect the March cash not being higher is the loan extensions announced on the 1st Feb RNS, where £53.7m of March maturities were extended out to June.

skinnypope
14/3/2024
14:01
Skinnypope, that is very close to where I am with my IRR expectation.

There was scheduled to be a large degree of loan maturity in March (this month), with much occurring on March 1st. I would have expected a cash balance of £77mn (after repaying the RCF), rather than the £55mn cited, and even £95mn were even more recent maturities realised and factored in.

Either there has been some delay (not good) or it just takes time to process the cash balance and bring it to management reports. That said, I would have thought they could be current as of yesterday in preparation for the RNS of today.

It's probably nothing, and it may be that they wish to maintain a degree of liquidity that is kept separate from the healthy wind down pile!

As it happens, by the date of the EGM , the pile should have grown by a further £34mn.

chucko1
14/3/2024
13:43
Well, this update is slightly more positive than I had expected. Although there is nothing that moves the NAV at all, the return profile has changed slightly for the better.

1. The cash handout is something I had tentatively thought about being done more gradually during the wind down procedure. This early and larger than expected return [12.9p per share] skews the IRR a bit higher.

2. Loan repayment being downstreamed to shareholders promptly. I assume the increase in cash from £30m at year end to £55m now is mostly from the £18m loan redemption announced on 1st Feb. So we can have full confidence in further capital returns given we know the maturity profile of the loans. I see ~£125m of loans left to runoff this year - that's another 29p of capital coming our way in short order. This was my base case, but now it's confirmed.

3. Dividend is maintained. I expected (hoped?) this would be the case - there is still plenty of interest accruing and being paid on loans to cover the dividend this year, although this does dip slightly into 2025 and 2026.

Keeping my other assumptions constant [no new credit provisions above current, and 25% discount on 2029+ loan sale] gives a new IRR of 18% [up from 17% a month ago]

skinnypope
14/3/2024
09:15
License to print money!
jam62
14/3/2024
09:12
I too have added this morning.

I have nothing to add to Chucko's analysis

cc2014
14/3/2024
08:57
I topped up yesterday and added much more this morning. They cited a cash balance of some £55mn, and I calculate a net cash discount of 26% using such numbers. By the end of this year, according to the loan repayment schedule, this discount would rise to 30%.

This is far too generous given the nature of the assets - non-development infrastructure loans. If one considers a 10% discount to be a target, then that would imply a share price of just under 84p by year end.

chucko1
14/3/2024
07:58
I topped up yesterday this is a very low risk double digit CAGR return over what, 3 years prudently
rimau1
14/3/2024
07:54
No surprises there!
chucko1
12/3/2024
19:08
No, week commencing 11th March as per the RNS
rimau1
12/3/2024
18:52
Do we know which day this week the outcome of the strategic review is due ?
panshanger1
04/3/2024
12:43
I'm pondering whether to add more now. I'm actually very happy if the company just carries on but I think there may be others here just for the quick execution. As I still have similar plays I can rotate through if there is a large pull back I think I may as well act now.
hpcg
04/3/2024
11:19
Outcome of strategic review to be announced next week...

Strategic Review Update -

On 29 January 2024, the Company announced that the board of GABI (the "Board") would be seeking shareholder feedback to inform its decision-making process in connection with the strategic review to consider how it may best deliver value to shareholders (the "Strategic Review").

The Board has today completed the shareholder consultation period in connection with the Strategic Review. Feedback has been provided to the Board by shareholders representing a majority of total voting rights in the Company. Views were canvassed on the future strategic direction of the Company, including in relation to: (i) a potential continuation of the Company in accordance with its current investment policy delivered by the Investment Manager, Gravis Capital Management Ltd; (ii) a suitable time horizon for the return of capital in a potential orderly wind-down of the Company; and (iii) acceptable pricing on a potential sale of the Company.

Shareholders have expressed a broad range of views throughout the consultation period. The Board is in the process of collating and reviewing the shareholder feedback and will announce the outcome of the Strategic Review in the week commencing 11 March 2024. The Board also expects to announce an update in relation to succession planning in respect of Board composition at that time.

The Board continues to consider a sale of the entire issued share capital of the Company as an option for the Company's future.

Alex Ohlsson, Chairman of GABI, commented:

"The Board is grateful to shareholders for their engagement in providing feedback in connection with the strategic review. This feedback will inform the Board's decision-making process for the future of the Company."

speedsgh
19/2/2024
14:59
71.00 - 72.00 (GBX) at 13:00:19
on Market (LSE)

neilyb675
09/2/2024
10:46
Lumps now going through at 70p so hopefully we will keep bashing away at whoever is selling here and then we can move upwards.
cc2014
08/2/2024
16:35
The Board of GCP Asset Backed, which invests in asset backed loans, is pleased to announce a quarterly dividend in respect of the period from 1 October 2023 to 31 December 2023 of 1.58125 pence per ordinary share (the "Q4 Dividend").

The ordinary shares will go ex-dividend on 15 February 2024 and will be paid on 15 March 2024 to holders of ordinary shares recorded on the register as at close of business on 16 February 2024.

neilyb675
05/2/2024
17:00
Too many idiots, not enough villages.

GCP holding well, being one of the few to have had a day of giant trades implying no more overhang. Fingers crossed.

spectoacc
05/2/2024
17:00
My money is on a village idiot with nothing better to do
tag57
05/2/2024
11:07
There’s either a village idiot voting down every posting or the ADVFN software has gone a bit wonky!
jam62
05/2/2024
00:44
Jam62 they are only a week late with their announcement vs last couple of years and still a month until the usual Payment date.
tag57
Chat Pages: 10  9  8  7  6  5  4  3  2  1

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