Share Name Share Symbol Market Type Share ISIN Share Description
Jup Ord. LSE:JDT London Ordinary Share GB00B0M3FZ66 ORD INC SHS 8.98274742P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 0.155p 0.01p 0.30p - - - 0 06:30:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 2.4 1.3 4.0 0.0 0.14

Jup Ord. Share Discussion Threads

Showing 1051 to 1075 of 1300 messages
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DateSubjectAuthorDiscuss
30/6/2015
11:36
One to BUY: =========== Very interesting institutional buys over at Private Equity trust Candover Investments (CDI). JP Morgan Securities has been declaring increases this month; then yesterday two "Holdings" RNSs from CG Asset Management. Peter Spiller is a very conservative fund manager, yet here he is increasing the Group's CDI holdings from 580k (2.7%) to 1.327m (6.1%). He may have a steer on the upcoming EXPRO figures, an oil/gas portfolio holding accounting for c26% of the last CDI valuation; and of course the reason for the share price fall this past year since the oil price collapsed. I added yesterday at 265p, taking me to a 5% allocation; but very tempted to increase that exposure as the share price does look way oversold at a 51.3% discount to the Dec'14 valuation of 545p; and 15% lower than a small top-up at 312p by the CEO earlier this month. NB: To put matters into context, that 545p was already a significant markdown from the 715p NAV pertaining before the collapse in the EXPRO valuation. IMO that makes this one worthwhile to number crunch...see links below. Finally, it should be noted that this is a trust in wind-down mode; so those asset values will be released over time. These are the first two documents to take a look at: May’15: 1st Qtr Trading Update: ================================ http://uk.advfn.com/news/UKREG/2015/article/66843472 CDI Finals for the y/e Dec’14: ============================== http://uk.advfn.com/news/UKREG/2015/article/65633501 sp at time of Post: 266p-273p
skyship
22/6/2015
12:57
BT - sorely tempted, but already in for just over my MAX when I made my last top-up @ 29p.
skyship
21/6/2015
20:20
Buying more?
badtime
21/6/2015
19:19
Time to return to my successful 2014 tip (see Header) - Tertiary property investment company Local Shopping REIT (“LSR”) has proved a helter-skelter ride over the past 21months. From a start in Sept’13 at 25p, the shares have traded: 25p/32p/25p/40p/32p/37p…and now back to 28p. Great for swing-traders; not so good for those that BUY & HOLD! Over that time the new managers Internos, brought in to implement the new liquidation policy approved in Jul’13, successfully sold 50% of the portfolio (Aug’14), so relieving the pressure on the Balance Sheet from the excessively high 82% LTV pertaining at the time. In Q4’14 they confirmed the marketing of the 50% balance, attempting to make another single block sale rather than liquidating via piecemeal sales. A buyer has been in the wings for some time; and with the Commercial Property sector still buoyant, interest rates still low and the General Election providing a positive result for business, it might well be that a single block sale could still provide an early, profitable exit for shareholders. There has to come a time however that Internos should call time on negotiations and enter into a more active asset management and disposal programme. The lack of news has caused the shares to drift back to an enticing level; such that just this week activist fund Damille Investments 2 has announced the £4.6m purchase of a 19.9% stake from long term holder New Solera – an investment company about which frankly nothing is known! Being a listed company one can more readily find out about DIL2. Their investment performance has been pretty dull since their 2011 launch; and they now run a very cautious ship, with 50% of their portfolio in CASH. Plainly they see LSR as a mis-priced opportunity – see Extracts below: Extracts from Chairman’s Statement in the Annual Report to 30th Nov’14: http://www.rns-pdf.londonstockexchange.com/rns/6621D_-2015-1... ========================================================= “At the date of this report the Company is cautiously positioned, with weightings of 49.25% in equities and 50.75% in cash (including net working capital) at the Year end. Since launch the Company has invested over £93 million and realised over £61 million, generating a realised gain of approximately 14.4% on its investments. Our view remains that near term the outlook is challenging for the risk averse investor. Our investment philosophy is that the price paid for an investment is the most important factor in mitigating the risk of permanent capital loss…………………. ……………….. In this environment – where the risk of permanent capital loss is high – we believe it is prudent to maintain a healthy cash balance. Fortunately, periods of extreme complacency such as the present do not last forever and we continue to monitor markets for the mispriced opportunities we seek and have traditionally exploited. In short, we believe that market volatility will increase and that the Company is very well placed when it does so.” They go on to say under the OUTLOOK heading: “There are a number of issues influencing market sentiment. The most obvious of these is the long-running support to markets provided by central banks through their ultra-loose monetary policy. It is clear to us that without such support, markets would likely not be trading at such elevated levels. What is less clear, and what concerns the investment community, is what will happen as stimulus is withdrawn and policy tightens. The Company is positioned with this probable headwind in mind. The Company is cautiously positioned and we have every expectation of being able to deploy further significant capital in a variety of existing and new holdings subject only to securing those investments at a sufficient discount to our opinion of the realisable value of those investments. The key is to apply patience and discipline in pursuing our investment strategy. In strongly rising markets and extremely benign market conditions this can be difficult but we are confident that this is the correct course to take. The Company’s aim remains to invest in situations where we believe the share price represents a significant discount to the realisable net asset value and then to realise that value in the medium term. We are confident that our investment strategy and processes will continue to provide attractive returns in the medium and longer term. Whilst we do not make macro judgements, we believe quantitative easing (“QE”) has distorted markets and added downside risk. It seems logical to us that if QE has inflated the prices of many risk assets, then its removal may at least lead to some volatility. The Company is well positioned to take advantage of any such volatility in the prices of the securities we track and analyse.” ======================================================= These words in particular seem relevant to LSR: “…we continue to monitor markets for the mispriced opportunities……… to invest in situations where we believe the share price represents a significant discount to the realisable net asset value and then to realise that value in the medium term.” So what of that VALUE? Well, the NAV has remained pretty constant over the past 2 years. As the Company itself admits, the secondary/tertiary High Street retail sector hasn’t really shared in the value uplifts prevalent elsewhere – see this extract from the LSR Interims in May’15: “Whilst other sectors have experienced a surge in demand from overseas and domestic institutional capital, local shopping has been largely ignored. Good quality shopping assets continue to sell well at auction, particularly when located in attractive towns or larger cities, but there is little investor appetite for lesser quality stock.” In those same Interims the NAV was stated at a static 42p; or an adjusted 47p stripping out the reducing debt swaps liability. The debt is dated to end Apr’18, but fortunately, as stated at the end of the Chairman’s statement accompanying the Interims, the hedges expire in just 12months time: http://uk.advfn.com/news/UKREG/2015/article/66956521 “Since the change of investment strategy adopted by shareholders in July 2013 we have sold GBP84.2 million of property, representing 49% of the Group's portfolio at that time. The remaining assets have been marketed and ongoing discussions are taking place with an interested party. In the event that those discussions prove fruitless then we will continue with a sales programme of individual assets or small portfolio sales. The majority of the interest rate hedges attached to the Group's debt expire in June of next year. This should result in a significant reduction in the Group's financing costs, with a corresponding improvement in cash flow, enabling us to accelerate the pace of disposals unfettered. To that end we will seek, subject to market conditions and capacity, to complete the disposal process by the end of 2017 and return cash to shareholders as soon as possible thereafter.” So, one might assume that if Internos are successful in flushing out a single buyer, shareholders might expect a c40p pay-out in perhaps just 6months time. If instead they have to work for their fees and go the longer route, then shareholders might expect a higher net figure, perhaps nearer 44p, but will have to wait almost 3 years to get that figure. Either way, LSR surely represents great VALUE, as the GRY on the former would be 90%pa (a 40% gain in just under 6months); whereas the latter would provide a GRY of 16.9%pa to 31 Mar’18. An outlier view might be that power rests with the Buyer in this case, so an offer resulting in just 38p for shareholders might still gain acceptance, especially as that would still result in a 33.3% gain from the current oversold 28p. LSR is a classic, out-of-favour and oversold asset play, which benefits from the one simple positive – it is in liquidation mode, so that discount WILL narrow and the value WILL be returned – perhaps sooner; perhaps later. They represent a great value buy at Friday’s offer price of 28.5p.
skyship
13/6/2015
10:36
I hadn't previously made the connection between MVI, Skyship's pick for 2015, Haversham and Cenkos Securities and so apologies for returning to them so soon after my original mention. Cenkos dealt with financing the transaction and have already announced that it will have a significant impact on revenues this year. Along with the 9% tender offer in January, business YTD and the encouraging pipeline of new business I cannot see the dividend being any less than 19p, in fact I could see it being quite a bit more, which means the shares currently yield 10%. Strip out cash and shares are trading on a historic P/E of less than 4. Share price performance historically has been good over the summer months and so on any metric the shares currently look very cheap.
gary1966
02/6/2015
08:17
Yes, know of VLE & have it on my Monitor. Traded it in a small way c6-9months ago. Last week's rise has taken the edge off its value IMO. Good set of numbers from BPM today: http://uk.advfn.com/news/UKREG/2015/article/67107651 NAV up to 216p - a good result. Dividend confirmed at 2.75p - s/b higher. At 144p the shares are now on an historic discount of 33.3% - this for a company that has grown its NAV by a compound rate of 11.3% over the past 25yrs! Strip out the £7.9m CASH & the £7.3m Hyperion near-cash; and the NAV discount rockets to c45%. Shares obviously under-valued; but we need a more aggressive attitude to providing shareholder value. This remains the one major problem of buying into a director/family-controlled company; in this case separating the personal interest of Brian Marsh from the interests of his shareholders. Still, overall happy with these results and would expect the share price to make some progress as the figures are absorbed and discussed, especially by Simon Thompson of the IC. ========================================================= Final Results for the year to 31(st) January 2015 B.P. Marsh & Partners Plc, the niche venture capital provider to early stage businesses, announces its audited Group final results for the year to 31(st) January 2015. The highlights of the results are: -- Increase in the Equity Value of the Portfolio of 15.5% over the year -- Net Asset Value of GBP63.0m (31(st) January 2014: GBP58.9m) -- Net Asset Value increase to 216p per share (31(st) January 2014: 202p) -- Total return to Shareholders in the year of 8.2% (2014: 6.9%) -- Two new investments made during the year, one in the UK and one in South Africa -- Consolidated profit after tax of GBP4.9m (31(st) January 2014: GBP3.8m) -- Average Net Asset Value annual compound growth rate of 11.3% since 1990 -- Final Dividend of 2.75p per share declared -- Cash and treasury funds balance of GBP7.9m
skyship
02/6/2015
06:51
Badtime, I haven't looked into it hugely but I guess it is a little like MVI in that it will be the float/sale of one of the underlying investments that may unlock some of the discount. More importantly though the management team seem to have a good track record and so NAV should consistently move up and the share price should follow even without the discount closing. Stated NAV would appear to be quite conservative and so any sale/float of a business could have quite an effect. Obviously this very conservative NAV adds more security to the investment case. ATB Gary
gary1966
01/6/2015
20:29
That discount on VLE has been there for a while....anything new that might change it?
badtime
01/6/2015
19:18
Skyship, Good result for you on Epwin and I suspect on a couple of the others you have mentioned earlier on the thread. I don't hold but stumbled across Volvere (VLE) the other day and I think it may be one you will be interested in. Good discount to published NAV which in itself is probably appreciably understated and with good management that have a good long term record. Myself, I am hoping that LGO is going to have a very good June again as there is a lot of news due that could shift the price. Still haven't totally left the wild side behind but getting there slowly but surely and always looking for high yielding, growth shares. Have now read that you had back boot camp. Hope it has made the back feel better and you are now making up for lost time on the vino. Gary
gary1966
01/6/2015
18:48
Skyship, Apologies I didn't mean to post on last years thread and didn't therefore mean for it to be disingenuous. I am guilty of having saved last years thread on my favourites list and hadn't noticed that you had set up the 2015 one. I should have known better as I know that you are kind enough to set one up each year but I can be dense a lot of the time. I will make a point of saving this one and going back and reading the posts to see what people have been buying. Anyway I have copied the post over from the other thread now, see below, and the good wishes are heartfelt and sincere. Cenkos Securities Plc (CKNS) look interesting now that the election is out of the way. Trading on a historic P/E of 6 before cash is adjusted for and yielding a well covered historic dividend of 17p or just under 9%. Competitors are saying that business is up and Cenkos reporting that they have a good pipeline of new business. Also still like RUSP that are yielding just under 8.5% and they have a bullet proof balance sheet. Picked up quite a few PLUS500 last Friday amongst the carnage. Very happy so far and look forward to the divi's in years to come. Update on this, is that PLUS have received a £4 bid from Playtech today and with the Odey funds holding 21%, and stating that the co is worth more than this, I can see the offer being upped or a counter bid coming in. Hope everyone is well and making some money. Gary
gary1966
01/6/2015
13:13
Gary - re yr post on last year's thread (!) - surely a bit disingenuous that - a really great result with yr PLUS trade - 50% in a week - well done.
skyship
01/6/2015
07:51
Oh well doesn't look like I will be getting divi's in years to come on Plus500. £4 offer on the table from Playtech. Seems low and so will be interesting to see if there is a counter or increased offer. Odey hedge fund own just over 20% and so I guess it will decide the co's fete. Underpins the share price for the forseeable future. After averaging up, my holding price is £2.35 and so good result in just over a week but was looking forward to those future dividends.
gary1966
29/5/2015
16:25
Cenkos Securities Plc (CKNS) look interesting now that the election is out of the way. Trading on a historic P/E of 6 before cash is adjusted for and yielding a well covered historic dividend of 17p or just under 9%. Competitors are saying that business is up and Cenkos reporting that they have a good pipeline of new business. Also still like RUSP that are yielding just under 8.5% and they have a bullet proof balance sheet. Picked up quite a few PLUS500 last Friday amongst the carnage. Very happy so far and look forward to the divi's in years to come. Hope everyone is well and making some money. Gary
gary1966
23/5/2015
09:46
Well, those AVR closed the week at 12.25p-12.75p - up c22% on the week, so a very nice run for any holders. No idea where they will go from here. No alternative comments anywhere to be found. Perhaps Goldfarb & I are the only two holders!
skyship
20/5/2015
13:11
AVR - as mentioned in the Header above: ======================================= There is something interesting going on at stockmarket minnow – the very specialist AVARAE Global Coins plc (“AVR”). AVR is the UK's only listed company dedicated to investing in rare and high quality coins. Back in Q4’13 Founder & CEO of Noble Investments (“NBL”), the ex-stockbroker Ian Goldfarb (“IG”), sold the coin, banknote and stamp dealing company to Stanley Gibbons (“SGI”) in a £45m deal. IG banked £4m – 75% in cash, the rest in SGI stock. He was appointed to the SGI main Board. A 13.1m holding in AVR (16%) was one of the assets which passed to SGI with the NBL takeover. Having received c422k shares in the takeover, IG was permitted to sell 30k @ 365p in Jan’14; then as soon as the lock-in arrangements expired he sold another 123k @ 300p in Nov’14. Less than 3months later in Feb’15, he resigned. Then today we learn that SGI has sold all its 16% AVR holding @ 10p. IG declares that he bought 9.1m, taking his controlled holdings to 10.1m – 12.5%. The other 4m (5%) is yet to be declared. So….what’;s afoot? It could be that IG just fancies AVR as a classic asset buy as the Company’s NAV is c14.2p/share. The near 30% NAV discount certainly looks tempting. The more exciting upside comes from the likelihood that IG has other plans for AVR. No doubt he would have had to agree with SGI that he won’t be stepping too heavily on their toes; but nevertheless one has to remember that IG built up NBL from his initial investment of just £200k back in 2004; and sold out to SGI for a personal £4m in a £45m takeover. IG is an entrepreneur and ex-stockbroker. I suspect there may be an interesting future for AVR. The shares are difficult to BUY; but could well reward patient accumulation – if time…
skyship
16/5/2015
15:15
So, the LMS AGM has confirmed the next Tender - not now...but coming soon: ------------------------------------------------------------------------ "Assuming completion of the ChyronHego, Voreda and secondary transactions, cash at 31 March 2015 on a pro-forma basis, would be GBP29.2 million. Commenting on the year to date Martin Knight, Chairman, said "The Company has continued to make progress with its realisation strategy during the current year to date; the Board expects to be in a position to consider a further return of capital to shareholders later in the year." The NAV is all over the place. Back up to 95p at end Mar'15; add in 2p for the further recovery in WFT and we reach 97p; however 3p then lost due to the current strength in £Sterling. Still, I'm happy with 94p, especially as the AGM Statement also confirms washing out 5 under-performing funds. Also most bankers/commentators expect the $ to reassert itself versus £Sterling, so the NAV may increase a tad closer to that Tender date. Clearly at this level there is attractive short-term upside ahead of the likely 20%-25% Summer/Autumn Tender. I have now gone slightly beyond my usual 10% Max as IMO LMS now ticks all boxes in terms of Risk/Reward.
skyship
01/5/2015
14:18
Is it time to be back into LMS? I believe so… Since the last Tender (22.5% at 95p) back in May’14, an investment here has proved costly with the shares falling back from 85p to 75p in Q4’14, then effectively side-lining for the past 6months. Sentiment wasn’t helped by the apparent conflict of interest of former CEO Robert Rayne, who was also a director of Weatherford International (WFT), the largest portfolio holding. Many shareholders assumed that this possible conflict prevented the sale of the WFT holding at the far higher Market price available last year – a price which dropped alarmingly as the oil price fell out of bed. Now however, Robert Rayne has gone and the WFT share price has recovered from the dark days of $10.50 to the more interesting level of $14.65. The Dec’14 NAV stood at 93p. Since then the 25% rise in WFT may be just one of the contributors to a likely increase. There are also the holdings in two UK property portfolios – Brockton & Voreda. These two together were valued at £20.2m – 15% of the portfolio. With a 2.3p uptick from WFT and possibly another 1.2p from those property assets; my guess is that the overall NAV may well be back up to around the 97p level. As we know, LMS is in liquidation mode, so the key for buying now is the likelihood of another Tender. That will of course require further portfolio sales; to add to the c£5m received in March from the sale of ChyronHego. In the March Prelims these were the relevant quotes on the matter: # At the year end the Company had cash of £9.2 million; the Board will consider a further return of capital in the light of realisations in the coming year. # There are active sales processes underway on a number of the Company’s investments and we are also exploring potential realisation opportunities in the secondary market. These initiatives are at an early stage and their likely outcome cannot yet be anticipated. We shall keep shareholders informed through our normal reporting channels and significant individual realisations will be announced as appropriate. There is a very remote possibility that we will hear further news on the Tender front at the 12th May AGM. Would certainly be welcome of course; but perhaps more likely would be news post a disposal in Q3’15. Whenever it comes, a Tender this year has to be a near certainty, so with the shares retreating once again into their 75p support and the NAV improving, I have decided the time is right to buy a few at today’s offer price of 76p. E&OE: LMS has other unquoted investments. The Annual Report was positive in all regards; however there is always the possibility of a valuation markdown in the light of unknown circumstances.
skyship
28/4/2015
10:05
free stock charts from uk.advfn.com
skyship
29/3/2015
12:26
The Private Equity sector continues to bring home the bacon - especially JPEL, MTH & NRI. JPEL still cheap on a 25% NAV discount ahead of the 2016 start of the shareholder return policy - see the Investor Presentation at: hTTp://www.jpelonline.com MTH can be bought at a good discount to the price of the last Tender, so with the Board talking of further portfolio gains to come, this looks a really good buy ahead of the next Tender. The largest NAV discount is still the 30.7% at BPM, the chart for which is increasingly looking like a coiled spring ready to snap! I'm hoping that the large sale alluded to in the Oct'14 IC interview will provide the catalyst for a sharp move forward sometime before the Finals due in June. free stock charts from uk.advfn.com
skyship
13/3/2015
15:26
Further to my P.No.15 above; I've topped up my holding in BPM today: BPM is one of the smallest listed Private Equity plays with a MCap of just £41m @ 140p. It has been a pretty boring investment over the past two years, with periodic bursts coinciding with recommendations in the IC, but the share price remaining stubbornly in its 125p-150p range. Still, with the dividend to be confirmed in c10days and the Prelims in June, it just may be that the current 136p-140p could add a useful 10%+ over the next 3months, especially as in October the IC stated that they "understood" there could well be a major disposal of a portfolio company before those early June Prelims. With the last NAV stated at 205p, I would be disappointed not to see a further rise to c210p-215p come June. Just 210p would mean that the shares are offered at a very attractive 33.6% NAV discount. With last month's Trading Update being so positive, BPM has to be considered exceptionally good value, especially as they operate in a thriving insurance sector. LINK to TRADING UPDATE: http://uk.advfn.com/news/UKREG/2015/article/65510034 LINK to CHART: http://uk.advfn.com/cmn/fbb/thread.php3?id=11669857
skyship
12/3/2015
09:31
Some of you may be interested in Core VCT (CR3) after their announcement the other day. Looking to wind up the trust over the next three years. NAV at 31st December was just over 82p. Can currently buy for 53p. Looking to make a distribution of 35p in May and so you would effectively be paying 18p for potentially 47p's worth of assets. There would still be a very good annual return even if those assets only realised 30p over the next three years. Hope all are well. Gary
gary1966
06/3/2015
19:59
Well done CW
badtime
06/3/2015
10:27
Hope u don't mind but I started one for BIST. As I'm "blue" and thread owner it might help in weeding out any crackpots, if they ever appear in such a godforsaken, out of the way, thread ;-)
cwa1
06/3/2015
09:34
Tilts care to start a thread?
badtime
06/3/2015
09:01
Anyone looking to replace ACD monies might want to take a peek at BIST. Formerly British Assets, the mamangement has been taken over by Black Rock with a new mandate. A new multi-asset approach revolving round income strategies. Shares currently trade on a discount, which I do not believe will last too long, and an attractive yield.
tiltonboy
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