Share Name Share Symbol Market Type Share ISIN Share Description
North Atlantic Smaller Companies Investment Trust Plc LSE:NAS London Ordinary Share GB0006439003 ORD 5P
  Price Change % Change Share Price Shares Traded Last Trade
  80.00 1.8% 4,530.00 11,005 16:35:10
Bid Price Offer Price High Price Low Price Open Price
4,460.00 4,570.00 4,550.00 4,460.00 4,550.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 7.89 0.55 3.76 1,204.8 653
Last Trade Time Trade Type Trade Size Trade Price Currency
16:35:10 UT 1,369 4,530.00 GBX

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Date Time Title Posts
09/6/202117:04North Atlantic Smaller Companies IT259
04/1/201020:23Nasdaq Swing Traders34
17/1/200820:57Nasdaq charts etc7
02/11/200606:491420 Broken on NAS - Tech recovery???2
25/5/200610:33Was this the bottom, it's flying now3

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North Atlantic Smaller C... Daily Update: North Atlantic Smaller Companies Investment Trust Plc is listed in the Equity Investment Instruments sector of the London Stock Exchange with ticker NAS. The last closing price for North Atlantic Smaller C... was 4,450p.
North Atlantic Smaller Companies Investment Trust Plc has a 4 week average price of 4,020p and a 12 week average price of 3,830p.
The 1 year high share price is 4,565p while the 1 year low share price is currently 2,710p.
There are currently 14,425,620 shares in issue and the average daily traded volume is 11,764 shares. The market capitalisation of North Atlantic Smaller Companies Investment Trust Plc is £653,480,586.
apple53: My note: "Although a private investor, I have worked for many years in the financial services industry, initially as an equity analyst and subsequently as a fund director. For me, discount management is an important part of investment trust and listed fund investing. I have been a modest investor in NAS (Oryx) for some years, but significantly increased my holding (via ii and EQi) when I learnt of the buyback program. I think it is well-designed; large enough to be meaningful and not too restricted. I believe it is equally important that the fund manager and indeed the board, to some degree, are co-invested. For me, therefore it is a positive that the ‘concert party’ accounts for such a large holding, and I strongly support the waiver of any commitment to make an offer for the entire company. My only minor concern in some circumstances is that a very large holding might result in an excessive focus on capital preservation rather than growth, but I see no evidence of that at NAS."
strathroyal: Hope he doesn't take it private, as NAS and a number of its quoted holdings offer good value. More fun today with the potential bid for AUG (unfortunately one of those I didn't buy).
topvest: This all seems rather spurious. Christopher Mills won't be taking NAS private at this point - why would he? Firstly, this is his life's work and secondly, he hasn't the firepower to do so in my view. He's worth a couple of hundred million tops. Finally, to indicate this without an RNS, if true, would be scandalous. Somebody has probably drawn the wrong conclusion from the annual rule 9 waiver or is spreading untruths!
p1nkfish: Had a message from my service provider, Mills family will propose to take NAS off market and private. Change likely, I guess they think they will have less onerous reporting, lower costs and better returns if off market.
spartacus mills: . I’ll re-iterate my view: in the current market the discount on NAS should be 15% - this takes account of the fee issues and the key man risk. It traded at a sub 20% discount for most of the 2010’s and sub 10% in the 2000’s. The >30% discount of the last few months is an aberration for NAS. Without any further progress in the portfolio we could easily see this priced at £50 in the next 6 months
topvest: A mightily impressive performance by NAS over the last year. Christopher Mills is a very smart cooky indeed. He really should get more credit for his achievements over the last 30 years. In the meantime, its great to keep aboard both NAS and Oryx. I doubled up on NAS a few months back. Its quite difficult to copy / follow Christopher Mills so much better to just buy NAS in my view.
apple53: Just catching up on the latest nav. Thanks for everyone's inputs. Spartacus very impressive NAV calc/estimate. I guess you run an excel sheet? I have been trying to work out how up to date the website holding list is. They don't focus too hard on keeping the website day to day- the NAV has not yet been updated and HL is quicker in this regard, for example. I guess the holding list could be end March. My other question for NAS is when the buybacks will restart. I assumed they had stopped for a close period but why no resumption? Could this help to explain the re-expanding discount? I own quite a lot but tempted to buy more. Oryx discount has also opened up (so 2 points of double discount).
spartacus mills: Yes some indiscriminate selling yesterday afternoon. But many of Mills' holdings have done very well recently - RENX up c.15% recently, BigBlu up c.20% this week, Cicassia up 35% in the month, EKF up c.15% - so I dont see any underlying reason. My estimate of running NAV is now up to about £58.50. At yesterdays close of 39.10 this gives a gigantic 33% discount. Given the market conditions its hard not to see this as anomalous. Oyrx continues to perform very well and prospects for RENX and EKF are good. Between these three that's now a third of the portfolio. As always with NAS there is a decent cash buffer and you also get the down side protection of a manager who has seen it all, is not afraid to take profits and wont get carried away by market mania. The 5 year and 10 year performance (11.8% and 14.1% CAGR respectively - in UK shares!) now look really good. Yes NAS has flaws in fees and is not liquid enough for big holders but weighted against performance these are not justification for the massive discount. Good things will happen to those who buy at a 30%+ discount and I added more yesterday afternoon for less that £40
loglorry1: CIR on the move. This is a NAS stock and one that should help NAS put on some good asset value in the next few months.
topvest: The performance is very good. NAS has nearly tripled in a decade and Oryx has done even better. NAV performance is a c10-12% per annum compounder. I'm not greedy and invest in things that have a strong chance of doing 10%+ a year which is my minimum hurdle. I'm not really interested in things that can't make 10% per annum long term. I've always felt that NAS is better / certainly safer than Oryx. Oryx has out-performed of late as is more fully invested whereas NAS is more prudently positioned for the nightmare economic scenario we are now facing. It does mean that NAS has significant firepower when the value is there for some good deals. NAS also owns a significant % of Oryx. Odyssean are also part owned by NAS and if the manager doesn't perform to his high expectations, I expect Christopher Mills to muscle in on this one as well at an opportune time! From a few years ago: "Christopher became the Investment Manager for what was then Montagu Boston in 1982 and he became our Chief Executive in 1984. Since then the net asset value is up over one hundred times." Obviously when / if Christopher Mills retires then the investment trust may get liquidated and then the discount would likely go as well, but would lead to some short-term uncertainty no doubt. There is some risk on this front I guess!
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