Marwyn Value Investors Share Discussion Threads

[ygor705] 01/4/2019 07:50

Very poor recent share price performance here accompanied by some rather odd movements in the stakes held by Marwyn itself. Invesco's position also a little odd. They hold 45% of the equity in a company that has a huge discount to NAV. Taking control would surely improve their investment performance stats. That said, Invesco's share price performance last year was even worse than Standard Life Aberdeen which possibly tells its own story! Can't help but think this to be an unstable situation going forward. Managers strategy over the past 12 months is not working as far as I can see.

[tiltonboy] 14/3/2019 14:39

Hopefully something brewing at Safe Harbour:

[gleach23] 12/2/2019 07:52

Oh yes - thanks tiltonboy.

I see now that MVI advised on 14 Jan that following the placing they will only hold 19%

[tiltonboy] 12/2/2019 07:09

gleach,

They have increased their holding. Their stake has been diluted by the fundraising.

[gleach23] 11/2/2019 23:12

Nice rerate going on here now.

MVI cuts its stake in ZEG today from roughly 26% to 19% which should help further reduce the discount to NAV.

[ceaserxzy] 04/2/2019 18:07

Invesco is also biggest shareholder of both bca and zeg, the majority assets of MVI. So it makes so much sense for them to own mvi to get bca and zeg at about 50% discount compared to buy bca and zeg on the market.

[ceaserxzy] 04/2/2019 18:04

Investo owns 45.5% of MVI. Why is it not forced to buy the whole company?

[gleach23] 21/1/2019 21:17

Well done skyship and thanks for info

[skyship] 21/1/2019 17:17

Received the cash for 100% of my tendered holding.

[skyship] 21/1/2019 09:38

Still unable to find any reference to a paydate!

Anyone know when we should be credited with the cash?

[tiltonboy] 17/1/2019 18:33

Armstrong Investors sold 1m shares.

[spectoacc] 16/1/2019 06:55

@tiltonbuy - the buyback may (finally) help now.

[tiltonboy] 15/1/2019 18:37

gleach,

It's a start, but it isn't active enough for me.

I put a price in higher than strike, so retain my holding in the forlorn hope that they will indeed pull a rabbit out of the hat.

This should add about 3p to NAV, and take away some of the selling pressure. Not sure what will push them higher from here though.

[gleach23] 15/1/2019 18:04

Sad indictment indeed tiltonboy. However I suppose at least they're trying to actively address the NAV discount issue in a way which should benefit remaining shareholders.

Thanks skyship - do you know yet whether you managed to sell your full holding or a pro-rated amount?

[tiltonboy] 15/1/2019 17:36

It will be interesting to see if any of the large holders took the opportunity to sell, but what a sad indictment of management performance, that led to holders being willing to take such a large discount to get out.

Now it's time to do the decent thing, and wind it all up.

[skyship] 15/1/2019 16:48

Great result; very happy to have ditched mine at 130p. Entered at the low 125p as that way one benefited from any upside.

I'd accepted at 126p before their 11th January update, then amended down.

Sorry you missed it Gleach - who knows, may be right to have done so...

GLA

[gleach23] 15/1/2019 16:30

Disappointing. I'd optmistically gone for 135p

[spectoacc] 15/1/2019 16:27

130p, I'll take that (and did).

[spob] 09/1/2019 17:05

Is there an ex date for this tender

[gleach23] 08/1/2019 14:37

Although it's prompted a few buys today, it seems not even a Simon Thompson write up can get this moving these days :/

[tiltonboy] 03/1/2019 08:05

It will be interesting to see if Armstrong or Lazard look for the exit. The top three holders account for 60% of the shares in issue.

[skyship] 03/1/2019 07:50

So, at what price might you tender? 130p for me.

[skyship] 03/1/2019 07:30

A mere £5m - looks like a typical piece of Robert Ware tinkering; whereas what they should be doing is either returning the dividend, or better still - liquidating