Register for streaming realtime charts, analysis tools, and prices.
| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Highbridge Tactical Credit Fund Limited | HTCF | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 425.00 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 425.00 |
| Industry Sector |
|---|
| EQUITY INVESTMENT INSTRUMENTS |
| Top Posts |
|---|
Posted at 18/5/2021 03:52 by rambutan2 Goody goody!17 May 2021 RETURN OF CAPITAL TO SHAREHOLDERS The Company today announces that it will return GBP14,682,460.96 (equivalent to GBP0.83 pence per share) on 20 May 2021 (the "Redemption Date") by way of a compulsory partial redemption of ordinary shares of NPV ("Shares") ( the "Redemption"). The Redemption will be effected at GBP2.6986, being the NAV per Share as at 31 March 2021 and pro rata to holdings of Shares on the register at the close of business on the Redemption Record Date, being 20 May 2021. As at today's date, the Company has 17,689,712 Shares in issue of which nil are held held in treasury. On this basis approximately 30.75 percent. of each registered shareholding would be redeemed on the Redemption Date. Fractions of shares will not be redeemed and so the number of shares to be redeemed for each shareholder will be rounded down to the nearest whole number of shares. All shares that are redeemed will be cancelled with effect from the relevant Redemption Date. |
Posted at 19/2/2021 21:03 by rambutan2 Thanking you!19 February 2021 RETURN OF CAPITAL TO SHAREHOLDERS The Company today announces that it will return GBP13,625,182 (equivalent to GBP0.59 pence per share) on 25 February 2021 (the "Redemption Date") by way of a compulsory partial redemption of ordinary shares of NPV ("Shares") ( the "Redemption"). The Redemption will be effected at GBP2.5214, being the NAV per Share as at 31 December 2020 and pro rata to holdings of Shares on the register at the close of business on the Redemption Record Date, being 25 February 2021. As at today's date, the Company has 23,093,530 Shares in issue as the 26,166,818 previously held in treasury have now been cancelled. On this basis approximately 23.4 percent. of each registered shareholding would be redeemed on the Redemption Date. Fractions of shares will not be redeemed and so the number of shares to be redeemed for each shareholder will be rounded down to the nearest whole number of shares. All shares that are redeemed will be cancelled with effect from the relevant Redemption Date. |
Posted at 18/12/2020 15:57 by rambutan2 Here we go:Result of Extraordinary General Meeting The Board announces that, at the Extraordinary General Meeting ("EGM") of the Company held at 10:00 a.m. today, the resolution set out in the Notice of EGM dated 27 November 2020, was duly passed. The Board is pleased to note that 47.69% of the shares outstanding voted. The Board expect to be in a position to make the first distribution of approximately 25% of NAV to shareholders by the end of February 2021. |
Posted at 21/10/2020 03:17 by rambutan2 Gets a mention by Ben Conway of Hawksmoor in a piece mainly about cheap property trusts on Citywire yesterday:"Conway also highlighted the possibility that Highbridge Tactical Credit (HTCF) could wind up following a continuation vote at the end of the year, with cash being returned to investors. With the listed hedge fund vehicle currently trading on a 13% discount, that creates potential for a significant upside with relatively low risk in a short period." |
Posted at 10/10/2020 04:49 by rambutan2 Hi Mach100. Assuming we get a discontinuation, we will be exposed to the nav of HTCF for the next 12mths, albeit decreasing by 25% on each quarterly redemption. By buying now, you get 11% via the current discount. And if the fund can continue to produce returns similar to those during 2020, then a positive nav increase over the next 12mths should be possible. Lots of ifs and buts etc but 15% upside from the current share price appears quite possible to me. |
Posted at 25/9/2020 20:06 by rambutan2 Interims out after close, and my catalyst (see header) comes about...The Future As you know, at the end of last year the Board embarked on an aggressive cost reduction programme to mitigate the impact of the reduced asset base on the Company's total expense ratio. The Company also engaged finnCap Limited at that time, a broker which specialises in promoting smaller companies. We have had a target to rebuild the Company to GBP80 million before the end of 2020, but to achieve that target we would have had to eliminate the current share price discount to NAV, so we could justify the costs associated with an equity raise. Notwithstanding the valiant efforts made by finnCap to identify new investors and the webinars mentioned earlier, at the time of writing we have not been able to eliminate the share price discount, and therefore we propose to hold an EGM before the end of the year to provide shareholders with the opportunity for a discontinuation vote on the Company's existence. In the meantime, we intend to place a redemption in the Underlying Fund at the next available opportunity so that shareholders are not disadvantaged from the EGM not taking place until the end of the year. Of course, should shareholders at the EGM vote to continue the life of the Company then we will seek to cancel the redemption request which we understand will be possible, or if that does not prove to be the case, we will immediately re-invest the redemption proceeds into the Underlying Fund. In the event that shareholders vote to discontinue the Company, the redemption process will be governed by the terms of the Underlying Fund, in that the redemption proceeds will be paid in four quarterly instalments and shareholders therefore will continue to be exposed to the performance of the Company until the final quarterly redemption occurs. (pgs 15-16 re company's future) |
Posted at 18/9/2020 19:55 by rambutan2 Epistrophy, yes I read that and thought of HTCF. Linden's performance ytd only just ahead of us...Weekly Estimated Net Asset Value The Company announces the unaudited net asset value ("NAV") of an Ordinary Share (a "Share") in the capital of the Company as at 11 September 2020 (the "Valuation Point"): Shares NAV Ordinary Shares GBP 2.3699 The Company also announces cumulative performance as at the Valuation Point: ...............Week on Week Month to Date Year to Date Company NAV Performance +0.86% +0.74% +11.62% |
Posted at 28/8/2020 18:38 by rambutan2 An explanation of this week's "bonus" nav increase: |
Posted at 26/6/2020 19:13 by rambutan2 We are joined by another value style hedge fund. Looks like it took advantage of the index drop out last fri to take its 5%:Almitas Capital strives to achieve superior risk-adjusted returns for clients by investing in undervalued equity and debt securities. Our investment process employs fundamental and statistical analysis to find securities trading at discounts to intrinsic value throughout the world... |
Posted at 18/5/2020 02:34 by rambutan2 Note that FTSE annual review is at close on 3rd June. HTCF is certain to drop from Small Cap index to Fledgling. |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Hot Features
Premium
