North Atlantic Smaller C... Share Discussion Threads

[spectoacc] 09/4/2020 13:30

GLE in early with their placing at least, and surely a sector that will still thrive post-Covid (whenever that "post" is).

The big question still for me - have the US Treasuries been sold? If this wasn't the dip he's been waiting for, what is?

[strathroyal] 09/4/2020 13:15

I see that Mr Mills has recently carried out a placing with TEN, another one at GLE and now launched a Tender offer for FCRM, mainly through Harwood Capital. Is he effectively calling the bottom of the market as NAS had been reducing their stake in the first two.

I've certainly taken that view and bought GLE from these, gone back into OIG and EKF.

[panshanger1] 16/3/2020 18:11

Same with CGT I would have thought

[robsy2] 16/3/2020 15:12

One thing I like about this one is they seem very free to do the asset allocation as they see fit. You hand over the money and they decide when to invest and in what. And they have cash ready to deploy so the climb back is sort of assured.

[spectoacc] 13/3/2020 13:50

News that they'd deployed the money previously in Treasuries would certainly be interesting - if not soon, then when? (Note - I say the market's going much lower on US epidemic, but still - they've got to put the money to work one day).

[p1nkfish] 12/3/2020 15:59

I should know the answer but don't. Anyone have a clue about next results date?

[spectoacc] 12/3/2020 09:28

Agree on the T-Bills, and def like NAS, but - like so much of what I'm watching, it's not even back at lows of less than a year ago. We had a rampant bull market with a blow-out top in many things (not exactly in NAS, but in many), and we've not even given the top back yet.

The suddenness of the falls make things look "cheaper" than they really are - the falls are for a reason.

Prime example would be equity income funds, all tanked, all now on much tighter discounts because they haven't tanked nearly as hard as their holdings. Could pick any number of examples, but say MRCH, LWDB, PLI, EDIN.

[p1nkfish] 11/3/2020 23:51

Fear might be telling you what to do.

[mw8156] 11/3/2020 22:51

ought to be an opportunity to buy- half? their money in T-bills but the c virus outlook is so uncertain can't push the button.

[deadly] 28/2/2020 21:34

OK but I'd prefer FJV anyday.

[spectoacc] 28/2/2020 17:07

Wow yes, missed that.

Tho haven't missed that they've got all that cash in US Treasuries, which have been gangbusters. Question is - will they exit the Treasuries and deploy the cash? They've been waiting a long time..

Love the discount on NAS, whatever the market does, and may soon be tempted back into OIG too. But - as always - the greed/fear issue, as well as the sheer number of seemingly wonderful opportunities this tank is producing. (I'd mention AJOT as another I've got my beady eye on).

[deadly] 28/2/2020 17:04

Nice surprising pop up to 3310 at the end from 3090. Someone's keen on a day like this. Allowed me to offload a few in the auction.

[rickyl1] 20/2/2020 09:22

Nav discount widening slightly, might be time for a top up soon. Looking for more company action.

[p1nkfish] 12/2/2020 17:10

Mills knows value when he sees it, private or public. A real eye for future cash flow. Long term hold for me also and management have skin in the game too.

[rickyl1] 12/2/2020 17:04

Also if you strip out the US treasuries then the discount is even bigger. Wonder if the treasury holding could be liquidated and returned to shareholders as a special divi ? Probably not but you never know. Long termer for me.

[chinahere] 12/2/2020 16:46

Bought some of these recently. I like the large discount - which gets even bigger for the OIG holding. The manager looks to be shrewd and the past performance looks good.

I also like the 14% USD Treasuries holding which I hope is them waiting for something to buy.

Looking through the circa 20% unquoted stock, the holdings look a lot better to me than say what was in the old WPCT. lol.

A long term hold hopefully.

[topvest] 23/12/2019 19:30

Of course, its an even better deal for Chris Mill and Harwood Capital. The man is a genius and well worth backing.

[topvest] 23/12/2019 19:29

It was floated at 81 pence and so Harwood and Chris Mills have made a good return. The share price seems to have increased ahead of events. I suspect the offer cam forward when this was languishing over a £1. I always thought the share price was quite rich on this company. Shareholders shouldn't grumble - its a reasonable deal.

[spectoacc] 23/12/2019 14:01

Or - since he bought more NAS only very recently - is he planning on buying more whilst the discount is so large?

[rubberduck104] 23/12/2019 13:55

For me, the link is Mills.

I interpreted the HW. sale as Mills wanting to cash out - see RNS - “the desire of certain major Harwood Shareholders, including senior management and their connected persons, representing approximately 68.7 per cent. of the share capital of Harwood, to sell some or all of their Harwood Shares.”

I was just wondering if NAS might be next?

[p1nkfish] 23/12/2019 12:47

I wondered that too but can't find direct link.
Mills gets £30M.
No surprise to see activity in NAS portfolio too though.
Priv Eq active.

[rubberduck104] 23/12/2019 10:48

Anyone think there is any read across to NAS from today’s events at Harwood Wealth Management HW.?

Major HW shareholder is Mr Mills, HW. sold out below Friday’s closing price, shareholders getting a mild Christmas stuffing.

See HW. thread.

[p1nkfish] 17/12/2019 07:11

Not just bounce, looks like breakout in time for next results not too far off..

[spectoacc] 17/12/2019 06:56

This was one of the few I didn't sell ahead of the Corbyn minority govnt (ahem). Too big a discount to ignore.

[rickyl1] 16/12/2019 22:27

Nice election boost. Happy to hold here.