Marwyn Value Investors Share Discussion Threads

[tiltonboy] 28/3/2018 07:23

The strategy of MVI is shot. GLOO has been a total embarrassment.

Once again, pull down the shutters and close the shop.

[skyship] 27/3/2018 14:46

Is Robert Ware still CEO here? He seems to have snopaked his name from all statements; and bizarrely no mention of directors on the website...

EDIT

Yes - non-exec chmn - sorry was looking at the wrong Marwyn.

NB: That non-exec is a bit rich. Nothing happens without his say so!!!

[belgraviaboy] 27/3/2018 14:28

You can add in that Miton have been buying for their Global Opportunities fund as well.

From their most recent factsheet:

"Marwyn Value Investors is distrusted by the market despite having been very successful in the past. The current share price is attractive given the possibility that the fund managers can repeat past successes."

I bought some thing morning as well at the same price.

[brwo349] 27/3/2018 14:10

I bought in today for the following reasons;

a) I bought at 125.68p which is close to the bid price
b) The quarterly 2.1p dividend was announced today
c) The biggest investment BCA marketplace is up 4.7% today
d) The Net Asset Value is over 200p

GLA

[gleach23] 14/3/2018 15:46

So the discount to NAV on the Ordinary Shares has increased from 23.8% on 19th Jan to 33.7% by the end of Feb

[gleach23] 01/3/2018 21:57

Yes broken down through 160...despite all the share buybacks

[spectoacc] 01/3/2018 16:04

BCA fallen back again.

[gleach23] 01/3/2018 11:04

From the same report, it could be that Safe Harbour is about to make an acquisition -

"Safe Harbour has identified a number of potential acquisition targets and will seek a public quotation or listing either before or at the time of completing its initial platform acquisition."

[gleach23] 01/3/2018 11:01

I'm not going to pretend that I ever tried to fathom the Realisation Class but isn't it the case that it is invested in 5 of the 6 MVI holdings (Wilmcote being the only one to be 100% attributable to Ordinary Class)?

Just going from last year's half year report.

[spectoacc] 01/3/2018 11:00

Must be historic? ie not added to since the split in the share classes.

Is ZEG the only one of these that has ever delivered? Why not just restructure GLOO & use their listing for SafeHabour?

[tiltonboy] 01/3/2018 10:53

Why has the Realisation Class invested in Safe Harbour!

[gleach23] 28/2/2018 18:03

There we go - discount up to 30% confirmed for the Ordinary shares

[gleach23] 27/2/2018 08:54

Thanks Spec - think you're right - hence why the modest buying yesterday didn't lift the SP

[spectoacc] 27/2/2018 06:59

A def sell, delayed prob 3 days. MM action yest very much "we've got stock" IMO.

[gleach23] 26/2/2018 21:14

Rather large 315k trade from this morning posted after the bell at mid price. Not sure what to make of it.

[gleach23] 22/2/2018 20:16

Latest NAV RNSs out.

NAV discount on Ordinary shares as at 9th Feb has widened to 27.1% from 25.6% on 31st Jan.

On 9th Feb BCA was in 160s and MVI was 145.5. Since then BCA is still in 160s, ZEG has dropped a little but MVI has dropped another 10%. It looks to me like the discount has now already gone over 30%.

Going from 31 Jan valuations on the website, I estimate MVI investment split in £ to be -

BCA 4.5% x 1510m = 68m (41.6%)
ZEG 25.8% x 161m = 41.5m (25.5%)
WCH 60.4% x 28m = 16.9m (10.4%)
GLOO 34.9% x 25m = 8.7m (5.3%)

On top of that they are invested in Safe Harbour and Le Chameau. Taking last year's half year report and assuming no change I'd estimate -

Safe Harbour 8m (4.9%)
Le Chameau 20m (12.3%)

Does anyone have an estimate of what the cash holding might be?

Happy to be challenged on the numbers above.

[spectoacc] 22/2/2018 16:28

That I don't know - you'd think a share sale if they'd fallen out?

[mad foetus] 22/2/2018 16:25

I just wonder why they left the board of BCA?

[spectoacc] 22/2/2018 16:23

I see absolutely no prospect of them winding up. They'll argue the realisation shares have covered off any notion of that, and they seem to really like BCA (unlike the market). Still - as BCA falls, it becomes a smaller (but still huge) % of NAV.

[gleach23] 22/2/2018 16:04

Chart doesn't look great but I just nibbled a few more. BCA support @ 160p looks to have held for time being and the divi yield has improved a little more in recent days.

[belgraviaboy] 22/2/2018 11:46

Chart on this is just horrible.....

[gleach23] 14/2/2018 17:44

Discount widened a little on the latest report then although it'll be the next that will be of more interest to reflect recent falls.

[gleach23] 14/2/2018 14:11

Thanks. I did note the discount wasn't as wide as it has been in the past - will be interesting to see what the next NAV report indicates after recent falls all round.

[spectoacc] 14/2/2018 13:33

Good luck; discount not widened sufficiently yet for me.