Gcp Asset Backed Income Share Discussion Threads

[colonel a] 02/12/2024 13:53

Prior, its in the RNS.

[speedsgh] 02/12/2024 13:39

Has the latest dividend been paid out on number of shares held prior to or after the most recent partial redemption?

[panshanger1] 02/12/2024 08:42

Yes, topping up GCP with the proceeds

[cwa1] 02/12/2024 08:30

And, of course, less than 10 minutes after asking the question it lands in the ii account!

[matadvfn] 02/12/2024 08:28

Yes, received in FreeTrade ISA

[cwa1] 02/12/2024 08:03

Anyone had their redemption cash? From memory(creaky, at best) it was due on or around 29/11/24?

[2wild] 15/11/2024 15:44

What is the average current loan duration following recent redemptions?

[hpcg] 15/11/2024 12:49

There is little interest rate sensitivity here. What were predominantly short duration assets are even more so now.

[papy02] 14/11/2024 20:15

I think the "neutral" ex price for the rump that is implied by the current 81.4p mid (after both the 1.58125p divi and the tender for 18.95% at 89.33875p) is approx 78p.

Obviously it will vary from that as/if and when the market re-assesses the value, risk etc in realising the rump.

Personally I am hoping against hope that they manage to squeeze additional loan-realisations into this capital return, and announce that in the morning).

Atm we have £45m paid 29 Nov, vs Gravis plan of £82m paid 30 Sept.
(It's a mystery to me why they published an aggressive plan that they look set to under-achieve).

[kenmitch] 14/11/2024 19:59

2wild.

The same will happen again. BUT note that the share price fall on the ex day last June was recovered in no time. So that drop was a good buy opportunity.

Will the same happen this time? Probably not as fast as it’s the easiest to sell holdings that get sold first. So this time the choice is whether to buy more on the dip to maximise the profit from the next redemption. OR to sell when the share bounces again.

[jam62] 14/11/2024 10:55

Correction:- ex compulsory redemption after the close tomorrow. So if you buy shares between 8am and 4.30pm tomorrow, you’ve bought cum.

[jam62] 14/11/2024 08:10

GABI xd today. I believe ex of compulsory redemption tomorrow and cancellation of listing/ISIN number. New ISIN number operative from 8am Monday.

[hpcg] 08/11/2024 12:09

HL will change dramatically under new ownership I would think. It is going to have to.

[kenmitch] 07/11/2024 10:49

Thanks Jam62.

I’ve emailed the AIC Chief Executive about this nonsense with Hargreaves STILL banning their clients from buying GABI and GCP. Not holding my breath they will get involved as this nonsense has been known for ages and the AIC has even toothless so far.

[jam62] 06/11/2024 19:31

Kenmitch

Hargreaves appears to be the only broker on the London market to be prohibiting clients from purchasing both GABI and GCP. The FCA has new guidance with reference to KIIDS relating to PRIPPS, but Hargreaves has decided to be a law unto itself. This document issued by the FCA will make things more clear:-





Unfortunately, holders of GABI will not be able to replace their redeemed shares while this ludicrous situation prevails. I would implore all who hold securities under the heading of PRIPPS to call Hargreaves and complain very vociferously.

[speedsgh] 06/11/2024 09:50

Dividend Declaration

The Board of GABI, which invests in asset backed loans, is pleased to announce a quarterly dividend in respect of the period from 1 July 2024 to 30 September 2024 of 1.58125 pence per ordinary share (the "Q3 Dividend").

The ordinary shares will go ex-dividend on 14 November 2024 and will be paid on 13 December 2024 to holders of ordinary shares recorded on the register as at close of business on 15 November 2024.

Second Compulsory Redemption

The Board confirms that the Second Compulsory Redemption will total £45.0 million at a price of 89.33875 pence per share...

The Second Compulsory Redemption will be effected pro rata to holdings on the share register as at the close of business on 15 November 2024 (the "Redemption Date"), being the record date for the Second Compulsory Redemption, by applying a redemption ratio which is currently anticipated to be 18.95%. (the "Redemption Ratio"). For the avoidance of doubt, shareholders will receive payment of the Q3 Dividend on their pre-redemption shareholding...

In the event that the Company receives any additional loan repayments in the period between the date of this announcement and the Redemption Date, the Board may determine to increase the size of the Second Compulsory Redemption (and, accordingly, the Redemption Ratio)...

Payments of redemption monies are expected to be effected either through CREST... or by cheque... by 29 November 2024.

[2wild] 06/11/2024 08:37

Nice speedy timetable ex dividend next week and capital Returns soon afterwards

[shareideas1] 06/11/2024 07:28

Good to have the details

[kenmitch] 02/11/2024 12:16

It is free money hpcg which is why I wanted to buy more via Hargreaves. But Hargreaves are banning all buying presumably because GABI haven’t supplied a KID *Key Information Document). Fortunately ii are allowing trades.

These tender offers are much better than buybacks because we get a genuine cash profit return whereas with buybacks we don’t and if, as is happening too often now, the share price subsequently goes down, it’s a capital loss on top of nothing returned to the investor via the buyback.

[hpcg] 18/10/2024 07:45

thanks for the calcs jam62, I can't really be bothered as its just free money so far as I'm concerned. I think that between July 23 and Jan 24 this was genuinely the worst priced security of the last decade,

[jam62] 18/10/2024 07:19

Back of the envelope calculation suggests circa 19% of holding will be compulsory acquired at 89.4p. That’s a 13.5% premium to the current offer price of 78.8p.

[shareideas1] 18/10/2024 06:49

Good to see returns being accelerated

[jam62] 16/9/2024 18:12

We’ve already had interim figures in late August. Next figures will be for the 3rd quarter to end Sept.

[panshanger1] 14/9/2024 04:46

Interims Tuesday

[papy02] 05/8/2024 09:11

Thanks Sky. Wishing I had waited till this morning to re-balance, but c'est la vie, as they say in your neck of the woods.