Share Name Share Symbol Market Type Share ISIN Share Description
Honeycomb Investment Trust Plc LSE:HONY London Ordinary Share GB00BYZV3G25 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 900.00 1,335 01:00:00
Bid Price Offer Price High Price Low Price Open Price
895.00 905.00 900.00 900.00 900.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 62.70 31.28 79.30 11.3 323
Last Trade Time Trade Type Trade Size Trade Price Currency
12:09:28 O 220 899.77 GBX

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Date Time Title Posts
18/8/202010:35Honeycomb Investment Trust (HONY) - targeting 8% dividend30

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Honeycomb Investment Daily Update: Honeycomb Investment Trust Plc is listed in the Equity Investment Instruments sector of the London Stock Exchange with ticker HONY. The last closing price for Honeycomb Investment was 900p.
Honeycomb Investment Trust Plc has a 4 week average price of 812.50p and a 12 week average price of 750p.
The 1 year high share price is 1,085p while the 1 year low share price is currently 695p.
There are currently 35,921,105 shares in issue and the average daily traded volume is 36,487 shares. The market capitalisation of Honeycomb Investment Trust Plc is £323,289,945.
rambutan2: Makes sense, for HONY and co, not so sure re PSSL holders: 6 August 2020 For immediate release Possible Combination of Honeycomb Investment Trust plc ("HIT") and Pollen Street Secured Lending plc ("PSSL") HIT today announces that it has made a proposal to PSSL regarding a possible merger of HIT and PSSL (together the "Enlarged Group"). As described further below, under the terms of the merger PSSL shareholders would receive new ordinary shares in HIT on a NAV for NAV basis (the "Possible Merger"). The board of HIT believes that there is an opportunity for shareholder value creation from the combination of HIT and PSSL to create the leading listed investment trust dedicated to providing finance to the specialty finance market. The HIT board considers that the combination of PSSL and HIT would be in the best long term interests of both companies and their respective shareholders. HIT has consulted with certain of its largest shareholders who have indicated they are, in principle, supportive of the Possible Merger. These investors also hold shares representing, in aggregate, 30.7 per cent of the PSSL total number of outstanding shares(1) . Key terms of the Possible Merger The possible offer for the entire issued and to be issued share capital of PSSL has been made on the basis of an unaudited "NAV for NAV" combination. Based on HIT's and PSSL's unaudited NAV per share (post recent share buybacks) of 1,016.4p and 948.8p at 30 June 2020 respectively, PSSL shareholders would be entitled to receive: 0.9335 new HIT ordinary shares in exchange for each PSSL ordinary share. Further information on the assumptions underlying our proposal is outlined in the Appendix to this announcement. Under the terms of the Possible Merger, PSSL shareholders would also be entitled to receive the dividends, if any, declared by PSSL in respect of the three month period to 30 June 2020 and the three month period to 30 September 2020, provided that the aggregate of the dividends for each such period does not exceed 12.0 pence per PSSL ordinary share and is covered by income for the period. The terms of the Possible Merger would not be adjusted for the dividends, if any, declared by HIT in respect of both the three month periods to 30 June 2020 and 30 September 2020 (and PSSL shareholders would not be entitled to receive such dividends), provided that the aggregate of the dividends for each such period does not exceed 20.0 pence per HIT ordinary share. The Possible Merger would result in PSSL shareholders owning approximately 65.3 per cent of the Enlarged Group on a fully diluted basis. In addition, subject to consultation with shareholders, HIT is considering alternative structures including either a partial cash alternative, subject to certain limits, or a share buyback programme post completion of a transaction. (1) Supportive shareholders comprise: Quilter Investors Limited (14,603,993 shares), Standard Life Aberdeen plc (4,740,501 shares), Thesis Asset Management Limited (1,669,314 shares) and AXA Investment Managers (1,640,000 shares)
rooky4: Meanwhile, over at PSSL: Good news - potential offer, and share price has jumped Bad news, just read the following RNS extract, and wonder if the same issues are here at HONY, (might partly explain the 850p transactions). ============== "In the face of a possible offeror's interest in exploring a recommended offer for the Company, the Manager has not, in the Board's unanimous view, given the assistance which is reasonably to be expected in such circumstances. The Board believes that, while portfolio performance has been satisfactory, it is not acceptable to withhold Company information from the Board, publish very material information about the Company without Board approval and fail to confirm compliance with clear and important instructions from the Company, its client. Accordingly, the Board considers that it is appropriate to give the Manager 12 months' notice of termination (whilst reserving the Company's rights) and to explore alternative arrangements for the Company.""
scallywagkid: Why would you hope the share price drifts lower?The Amigo bond is only 1.84% of NAV?Management buying, albeit cheaply, plus M&G addition is at least reassuring? Certainly a pre-emptive offer would have been good for existing investors and the seller but it takes too long to organise when seller clearly under regulatory and liquidity pressure.Honey share price has been under the Woodford cloud for sometime and will remain so until stake placed out. The business however has continued at a similar pace. Recent trading update supports that. As an investor I'll look past 'market' issues while ever business unaffected. Agree, would be helpful if retail market could buy again.
cc2014: ah well. Just have to hope the share price drifts down. Discount to NAV looked justified to me given what is in the portfolio. One of the top ten holdings in Amigo bonds and we know what happenned to Amigo share price yesterday. L2 looks ridiculous. One MM at 935p then all other MM's sitting between 790p and 850p Oh, guess what the MM sitting at 935p is Liberium who are handling the buyback Sorry to all holders
Honeycomb Investment share price data is direct from the London Stock Exchange
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