Share Name Share Symbol Market Type Share ISIN Share Description
Majedie Inv LSE:MAJE London Ordinary Share GB0005555221 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -1.00p -0.33% 300.50p 297.00p 304.00p - - - 6,833 16:35:14
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 7.5 6.0 11.1 27.1 159.20

Majedie Share Discussion Threads

Showing 51 to 75 of 75 messages
Chat Pages: 3  2  1
DateSubjectAuthorDiscuss
07/12/2017
20:08
Agree Topvest, my personal view for what it's worth is we're in the last leg of the "Bull market",we haven't had the Euphoria yet!!.
contrarian joe
07/12/2017
19:23
Absolutely. Agree that net cash is good. I'm approaching 20% cash. Just think there is logic for them taking on a new long term facility and sitting on the cash. Stock market crash is coming.
topvest
07/12/2017
19:20
Not holding at the moment,on my watch list,makes perfect sense to reduce gearing at this stage of the cycle,avoiding any IT with unreasonable debt.
contrarian joe
07/12/2017
18:21
Yes, would be nice if Majedie did an IPO. I would be a holder. Indeed it's the main reason for holding this investment trust.
topvest
06/12/2017
15:40
the ipo idea was somewhat tongue in cheek but it I suspect that will happen one day.
edwardt
06/12/2017
15:39
I pretty much guarantee they will simply avoid all new leverage. they need this to appeal to a wider market. with mifid 2, the cost of ownership here is a hindrance to getting this to a premium to get on wealth managers buy lists. I like they are deleveraging and reducing market beta risk by taking money out and increasing weightings to tortoise which is now net short the market.
edwardt
06/12/2017
09:56
Doubt it. They will most likely raise new debt and sit on the cash. That would be the smart move.
topvest
06/12/2017
08:18
i think they will remove gearing. nice to see that the asset management increasing in value again. by my maths, the valuation is very conservative, being about 1.5% of aum. if you look at peers, this looks cheap. Jupiter is the standout listed company and trades near 4.5% of aum. you could argue they are more retail, have scale and a big back book but the differential to me is eye catching. i vote they ipo it and we realise value on it. anyone want to get out their pen and write to the board?!
edwardt
06/12/2017
08:14
Yes, all good news. They should take the opportunity to refinance the debt at 2-3% or so for the long term.
topvest
06/12/2017
03:26
Of note: 27 POST BALANCE SHEET DATE EVENTS On 6 November 2017, the Company gave irrevocable notice that it would be exercising its right to redeem the entire outstanding amount, being GBP13.5m, of the 9.50% March 2020 debenture stock. The redemption value was as calculated in accordance with the Trust Deed giving rise to a cost of GBP16.6m, including accrued interest, with a settlement date of 6 December 2017.
rambutan2
06/12/2017
03:25
Results out yesterday. Good rise in div to 9.75p total for the year. Nav rise less exciting than some, but into double figures. Remains a long term hold. hTTp://www.majedieinvestments.com/uploads/MajedieInvestmentsPLC_RA17_web.pdf
rambutan2
02/8/2017
19:13
Yes, a bit harsh but doesn't really bother me too much. Happy to hold this long-term. Majedie are a quality asset manager.
topvest
02/8/2017
16:12
6 months or so this has gone from near zero discount to circa 13. a bit harsh??
edwardt
25/5/2017
10:08
Yes agree. Also to note from the interim statement was that the Aviva "overhang" is now less overhung: It is pleasing that the discount at which the Company's shares trade has narrowed over the six months to 31 March 2017 from 14.2% to 8.9% (debt at fair value). The Chairman and Chief Executive have previously commented that a large holding in the Company was transferred to Aviva Investors, who are not expected to be a long term investor. We have met with representatives of Aviva Investors to understand their views and they confirmed that they are comfortable holders in the medium term given the uniqueness of the Company's investment proposition. This notwithstanding, the Board has and will continue to explore options to help Aviva Investors to exit their position as and when they might wish.
rambutan2
25/5/2017
07:39
for anyone listening, it is worth noting that the MAM stake yields a whopping 10% to this trust. ok there is some expensive debt that is marked accordingly but for me that yield with a firm that is clearly growing its assets both on a flow and actual basis has to be a 'cheap' asset. where else can you get that yield.....
edwardt
21/12/2016
09:22
Good luck holders, I couldn't have called this one more wrong if I tried! Ah well.
spectoacc
12/12/2016
12:42
market waking up to nav uplift here post results??
edwardt
05/12/2016
08:57
basically £5m on nav from September 30th - a nice yet conservative uplift in nav.
edwardt
22/11/2016
08:29
I fear I sold out for a fast loss, which would have been a fast profit if I'd held on - latest NAV doesn't explain the rise tho, so maybe you're right re MAM revaluation. With hindsight, think it's a bit risky for me - like the discount & performance, but there's the "double whammy" of either rises or falls depending on MAM. ie funds go up, MAJE goes up, MAM goes up, MAJE NAV goes up - but also all in reverse. Same position as eg LTI, but different position to eg LWDB, whose "extra business" is different.
spectoacc
16/11/2016
17:27
specto = hold your nerve. I am hoping for a good nav boost when MAM stake value gets updated ....
edwardt
08/11/2016
07:55
Discount seems to go ever-wider lately.
spectoacc
08/12/2015
08:54
key thing is valuation methodology - done as far as I can tell on 3 yr average of aum /profitability. hence more to go for given aum as of today is nearer £11bn. hence on 3% of aum, more write ups due all things being equal. dyor.
edwardt
07/12/2015
19:30
Yes, all very positive indeed. Majedie is all about its investment manager. Polar Capital is on a similar valuation and yield as MAM. Both are high quality asset managers which is a sector I'm really keen on.
topvest
07/12/2015
11:25
MAM revalued again - got to love it , by my maths valuation still implies a 6.4% yield on that asset - where can you find a dividend stream such as this that actually grows?
edwardt
10/12/2014
17:36
Re SIT's 20% stake in the manager, looks as though will have to wait for the first results for a fig/calc to be disclosed. Certainly has potential though. Below is from prospectus... 3 Investment in the Manager The Company will acquire a 20 per cent. equity interest in the share capital of the Manager on Admission at the same price per share at which the SAM Founder Shareholders subscribed for their shares in the Manager. Assuming that the Issue is subscribed as to 50 million Ordinary Shares, the Company’s investment in the Manager will constitute less than 0.5 per cent. of the Company’s Net Asset Value on Admission. This equity interest will be retained in accordance with the Company’s investment policy as set out in Part I of this Prospectus. The Directors expect that the Company’s investment in the Manager will help foster a relationship between the two entities that better aligns the interests of the principals of the Manager with the Company. The Directors note the potential for significant capital appreciation offered by the 20 per cent. equity interest that the Company will hold in the Manager. The business plan adopted by the Manager provides that it is to establish and act as investment manager to a range of investment funds that have the potential to earn the Manager both management and performance fees. The range of funds to be managed by the Manager by the end of Q3 2014 is expected to comprise the Company and a UCITS with four sub-funds, each characterised by either a long or long/short investment strategy in UK or pan-European equities. The Company may realise value from its investment in the Manager in part through what is expected to be a significant dividend payout rate in the medium to long term, and in part through the eventual disposal of the investment. The Board will periodically evaluate exit opportunities in respect of the Company’s investment in the Manager and will assess the viability of any such opportunities in the light of then-prevailing market conditions. The Directors hope, however, that this co-investment in the Manager will prove to be one of the Company’s more profitable long term investments, thereby helping the Company to achieve its investment objective. The SAM Founder Shareholders intend to subscribe for Ordinary Shares in the Issue in an aggregate amount of between £8 million to £10 million (which will represent between 16 to 20 per cent. of the Ordinary Shares in issue on Admission, assuming that the Issue is subscribed as to 50 million Ordinary Shares). The Directors believe that the Company’s investment in the Manager, and the personal investment of the SAM Founder Shareholders in the Company, give rise to a beneficial alignment of the interests of the Company and the Manager in the future success and profitability of the Company and the Manager.
rambutan2
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