Marwyn Value Investors Share Discussion Threads

[davebowler] 12/1/2023 10:07

Liberum;
Resolution on historic VAT claims create 3.6% uplift

Mkt Cap £52.7m | Share price 95.0p | Prem/(disc) -44.7% | Div yield 9.5%

Event

The company provided an update on the settlement of historic VAT claims. The total estimated amount to be recognised by the Master Fund after deductions for fees, taxes and other expenses is £5.02m. The amounts will be attributable to the different share classes as follows:

Ordinary shares: £4.33m (7.8p per share or +3.6%)
2016 Realisation shares: £0.53m (56.7p per share or +14.7%)
2021 Realisation shares £0.03m (7.8p per share or +3.5%)
These estimated amounts remain dependent on the final settlement with HMRC, but any difference is not expected to be material. There is no capital gain arising from the settlement and accordingly, no cash return is due to ordinary shareholders on receipt of the funds into the Master Fund.

Liberum view

This is a long-awaited and very positive result for the company. After months of uncertainty about the settlement, the amount recovered from HMRC is the best possible outcome the company could hope for. The uplift to the NAV is significant and together with the reduced uncertainty, share prices should rally significantly. At a 44.7% discount to NAV, the shares are undervalued in our view and this news provides a good opportunity to buy into an extended recovery.

[hugepants] 25/11/2022 10:52

The same trio bought Bangstrupp's shares. They now have 21.5%

[hugepants] 16/11/2022 23:18

The latest VAT reclaim worth an extra 5.6p per ordinary share. NAV +2.7% = 173p now.

[tiltonboy] 14/11/2022 08:30

Correct HP. They didn't buy them back.

[hugepants] 13/11/2022 23:24

Too much to hope that it was the company buying their own shares at half price. But why do that when you can put the money in a cash shell that does zip for 5+ years.

[toffeeman] 13/11/2022 13:53

Wonder who bought them?

[skyship] 11/11/2022 12:15

Tilts - quite right - Mark Watts sold 2.5m @ 81.5p.

[astralvision] 10/11/2022 16:09

At a mid price of 95p discount is 43% to the last published NAV of 167p and yield is 9.5%.

[boystown] 10/11/2022 13:51

Charlatans in it for their own ends etc etc etc.... But nevertheless, what are the discount and yield figs st this price giVen tne uplift as per the last RNS?

[tiltonboy] 10/11/2022 13:33

Probably Watts selling down his holding.

Should have wound it up Mark!

[skyship] 10/11/2022 13:04

A big chunk of the company changed hands at 81.5p yesterday...

[makinbuks] 10/11/2022 12:59

Indeed in the wrong bougin way!

[hugepants] 10/11/2022 12:40

It's bouge now!

[value hound] 07/11/2022 09:51

Yes - and the share price ne bouge pas! :-)

[hugepants] 07/11/2022 08:41

And board appointment to MACP. Waheed Ali

[hugepants] 07/11/2022 08:40

Another cash settlement from the VAT reclaim. 4.25p onto NAV with more to come

[cwa1] 27/10/2022 08:03

27 October 2022

Marwyn Value Investors Limited

(the "Company")

INTERIM DIVIDEND TO ORDINARY SHAREHOLDERS

The Company is pleased to announce that an interim dividend of 2.265p per Ordinary Share will be paid on 25 November 2022, pursuant to the Company's ordinary share distribution policy.

The payment of the interim dividend to eligible holders of Ordinary Shares will be effected through CREST (in the case of holders of depository interests relating to the Ordinary Shares) or by BACS/cheque (in the case of Ordinary Shares held in certificated form).

Timetable for November Interim Dividend


Ex-date 3 November 2022
Record date 4 November 2022
Payment of the Interim Dividend 25 November 2022

[tiltonboy] 24/10/2022 14:52

It's a return of capital for all intents and purpose, rather than a dividend

[hugepants] 24/10/2022 13:25

Indeed and they sounded confident in recent interims statement about receiving the outstanding VAT reclaim which is worth about 9p per share.

[skyship] 24/10/2022 13:20

Well - 97p = a 42.2% discount with a 9.1% yield. Suggests not much downside, in spite of the heavy hand of Robert Ware.

[hugepants] 24/10/2022 13:15

I've been nibbling at these at the bid price (97p) the last few weeks. Someone paying over 99p this morning probably needs a new broker.

[hugepants] 10/8/2022 14:22

I've no problem with ADVT, that's just investment risk.

Exactly.

[hugepants] 10/8/2022 13:55

They don't really do anything though so quite difficult to squander