Mithras Inv.Tst Share Discussion Threads

[rambutan2] 23/1/2017 03:53

Another two down, five to go from...

[skyship] 09/12/2016 09:42

AdvancePierre moves on to a new high of $28.70. May have been sold by now of course.

[rambutan2] 03/11/2016 01:59

Sky, I do hope not. We are only just hitting the sweet spot in nav per share uplift. Fewer shares means greater returns, much greater, as the younger part of the port matures. Remember, Pomona, which is the obvious buyer of MTH, only bought its 50% stake in the underlying in july 15. It wasn't buying into a tail. imho

[pvb] 02/11/2016 20:15

By Dunedin Enterprise perhaps? ;-)

[skyship] 02/11/2016 16:13

IMS out. Doesn't reveal much other than their holding in AdvancePierre has been reduced and the cash balance as at 30th Sept'16 now up to £4.1m.



It does occur to me that with Net Assets now below £30m; and possibly destined to reduce further to c£22m after the next Tender; might the Board now not be receptive to a takeover as a sure way of completing the task in hand.

[skyship] 26/10/2016 07:55

RAM - great stuff.

Incidentally, after yr 200p f/c now c 5yrs ago, that 250p has to be a given in my book!

Many thanks.

[rambutan2] 26/10/2016 02:26

Has also been talk earlier this year of sale of Cyanco, which third largest stake:

[rambutan2] 25/10/2016 18:08

PAI V has still got five or six cos and good potential for write ups:

[rambutan2] 25/10/2016 17:53

And fifth largest in port could also soon be a leaver:



That would leave Riverside III nearly dry:

[rambutan2] 25/10/2016 17:40

Hi Sky, yes hits the 200! Has to be plenty more growth in the nav though, with a fair wind, 250 doesn't look outrageous.

Fourth largest holding at 30 June has been sold, by CVC V, don't know if at premium:

[skyship] 25/10/2016 15:41

Last year the bald statemnent of ther 30th September NAV was issued on 22nd October; followed by a detailed IMS on 4th November.

So, expect an IMS within the next fortnight which will shed some light on that great NAV result.

I may be being over-optimistic hoping for a December Tender. Really depends upon when they cash in their Advance Pierre holding. A Tender announcement with the March Finals would be just as welcome!

[westcountryboy] 25/10/2016 14:44

LuckyMouse

Yes indeed - once again Skyship's alerts have been invaluable to those looking to top up :-) But the effect is much the same in the end...

[luckymouse] 25/10/2016 14:27

westcountryboy - sry - you are right - its not tracking nav upwards

[skyship] 25/10/2016 12:11

Just below the chart in the Header above...

[tournesol] 25/10/2016 11:49

I can see it on the HL RNS feed but is is still not coming up on investegate…..

[tournesol] 25/10/2016 11:46

Skyship

Help please.

where are you seeing that announcement? It's not on Investegate and I can't see it on MTH's own website.

regards

T

[skyship] 25/10/2016 10:29

WOW - today's NAV statement from MTH surpassed my very best expectations; and in doing so fulfilled a long held conviction that the NAV here would surpass 200p (thnx to Rambutan on the ADVFN "PE" thread).

The increased offer price of 175.5p (as I type) should still look pretty good value in December, when, as I expect, they announce their next Tender.

======================

25 October 2016

MITHRAS INVESTMENT TRUST PLC (the "Company")

Net Asset Value

As at close of business on 30 September 2016, the unaudited Net Asset Value per Ordinary 2p share of the Company was 206.3 pence.

[westcountryboy] 05/10/2016 19:30

Not really - it's responding to buys from those of us alerted to top up by Skyship on the PE thread :-)

[luckymouse] 05/10/2016 17:57

Tracking nav upwards

[skyship] 23/9/2016 17:48

APFH strengthening again:


free stock charts from uk.advfn.com

[skyship] 17/8/2016 08:45

APFH hit $26.50 last night before closing just below $26. I estimate every $1 gain adds another 1.16p to our NAV...

[skyship] 09/8/2016 15:03

At 30th Jun'16 our NAV was reported as 185.2p. Since then the £Sterling has slumped another 2%; but better yet, AdvancePierre has moved from its recent IPO price of $21, up to $25.

AP was valued at £2.72m in Dec'15; and £3.00m in Jun'16. There is no mention of whether that valuation was at $18, $19, $20 or the full IPO level at $21.

If we value conservatively at $21, then the uplift adds another 4.8p to our NAV and AP is now worth c29p/share.

So, if MTH sell their holding at this level, we could be looking at £2.3m + £3.6m in CASH, sufficient to fund a 22% Tender @ 185p - a very pleasant 12% upside to the current offer price of 165p...

[skyship] 01/8/2016 10:20

"Still, looks to me to be on track for a Winter'16 Tender..."

& even if only @ 180p, that would be at a 16% premium to the true 155p bid; or an 11% premium to the true 162p offer.

[skyship] 29/7/2016 10:52

RAM - thnx for yr two links above - would have thanked sooner, but rather pre-occupied with the Grounhog Day over at LMS!

I'm surprised that MTH didn't mention the listing of APFH and its effect on the 30th June valuation. Looks like minimally a 10% uplift there; and of course now the liquidity to dispose of the holding, assuming not done so at the time of the listing.

Also slightly surprised at a "mere" 4.9% uplift in the NAV to 185.2p. Based upon the currency changes I was expecting 190p. Do you have a view on that one?

Still, looks to me to be on track for a Winter'16 Tender...

[rambutan2] 28/7/2016 01:27

Currently 2nd largest individual holding at 13% of port is recently NYSE listed AFPH.



Whilst largest holding TMF, at 14%, has decided not to sell itself for the time being ie until a good enough offer is made.