Northern Investors Share Discussion Threads

[jlo10] 21/11/2014 23:55

Minor news but sounds positive I guess
______________________________________________
CS Datawright have leased 7,000 sq ft of office space at Mayflower House on Team Valley, Gateshead as part of their long term expansion and development programme.....

The firm of I.T specialists, who provide fully integrated business management systems to the chemical, manufacturing and service management sectors, are relocating from Parsons House in Washington.

Established in 1979, KCS Datawright was acquired by Kerridge Commercial Systems in 2012.

[skyship] 12/11/2014 14:06

Roll on the next Tender - likely to be in c6months time:

"Several portfolio companies are currently in active marketing processes led by
professional corporate finance advisers, in some cases with heads of
agreement already in place with purchasers."

[skyship] 12/11/2014 14:02

Very nice portfolio rise - PLUS 6.1% overall

Kerridge - UP 5%
Control Risks - UP 12.5%
Kitwave - UP 15%
Weldex - UP 89% - perhaps we lobbed some cash in there!

Really pleased to see the two leaders valued up yet again. One day we'll wake up to a bid for Kerridge - these will be up to £5 instantly - and still a good buy!

[jgh03] 11/11/2014 16:44

With the reported NAV per share having risen by 26.5p over the period reported I'm surprised that there wasn't a rise in the share price this afternoon.

Edit: Actually, up 24.3p since last reported NAV (ex-div) at end-June.

[horndean eagle] 11/11/2014 16:07

Hit the refresh button on your news page

[skyship] 11/11/2014 16:03

Interims due any day now - 12th November last year...

[skyship] 28/7/2014 08:03

There can be no quibbling - if you bought three days before the Register Date (XD two days before); then Barclays are responsible for chasing down your cash.

[molrey] 27/7/2014 17:38

I spoke to the liquidator when I first started making enquiries back in March. They confirmed the December distribution payment had been made and actually said they couldn't see Barclays on the share register. Barclays stance is they are definitely on the share register (maybe under a different name?) but haven't received any distribution payments. I'm now trying to establish a unique reference between my Brookwell shares held at Barclays and the shares on the register so I can try and build up some sort of audit trail of the payments.

[garbetklb] 27/7/2014 15:20

Why not try to speak to the Brookwood liquidator directly to find out what has been happening - then you are in an informed position to tackle Barclays.
Garbetklb

[molrey] 26/7/2014 18:44

Thanks for your reply Sky. I'm not on the share register - I purchased the shares through a Barclays nominee account. I have been chasing Barclays up for the last 5 months over the December distribution but just seem to be going round in circles - their latest update was that 'the Registrar and Liquidator have not yet been able to make payments to the shareholders affected by the delisting' despite twice previously giving me payment dates. So just wanted to see if anyone else (although I doubt there are too many BKWD shareholders around!) had received the distributions. Proving to be a very frustrating experience!

[skyship] 26/7/2014 18:15

The broker or platform through whom you bought is responsible. Were you ever registered, ie do you receive the Annual Report and Interim statements?

[molrey] 26/7/2014 14:07

Not strictly to do with Northern Investors but thought this would be the most appropriate place to pose the question. Does anyone own shares in the previously listed entity Brookwell Ltd (BKWD)? I purchased shares shortly before they de-listed (Mid 2013) in order to increase my exposure to NRI at a discount but have not received any of the distribution payments (10p Dec 13 & 20p May 14), just wondering whether anyone else is in a similar situation?
Cheers.

[jaws6] 23/7/2014 09:05

some buying today

[westcountryboy] 22/7/2014 13:43

Yes, encouraging - though I noted that Nasstar proceeds were less than its carrying value, so there is a downside risk attached to the NAV figure.

[jgh03] 22/7/2014 12:28

Interim Management Statement published this morning says that the unaudited NAV at 30 June was 445.6p (including 10p dividend payable on 25 July). The shares can be bought at 393p, a discount of 9.8%.

By my calculations buying the shares today gives a return of 9.1%pa if the company's minimum forecast (as revised in their annual report for 31 March 2014) is met; and a return of approx 5.2% if the return merely equals current NAV.

[skyship] 02/7/2014 08:15

XD 10p today...

[garbetklb] 06/6/2014 19:41

SKYSHIP - have messaged you via Fool. Hopefully of interest!
Garbetklb

[stupidboypike] 31/5/2014 07:49

badtime, did exactly the same!

Best regards SBP

[badtime] 30/5/2014 16:39

Pleased to have cleared the spread on the first day back in

[skyship] 30/5/2014 13:20

Looks like another positive set of numbers. Will find the time to number crunch later; but for sure a reasonable target now would seem to start with Big Figure 5!

Assuming 500p and an average Redemption Date of 31/12/16 (tenders will surely take much out ahead of time) then @ 390p the Redemption Yield = 10.07% & the GRY, inc. the 2.56% current yield with a 10p dividend would be: 12.63%.

[jaws6] 30/5/2014 12:20

There is 3000 at 390 why people paying 395 ?

[badtime] 30/5/2014 12:02

Took a nibble at 383.5

[jaws6] 30/5/2014 10:50

RNS out NAV 433.4 p

[skyship] 29/5/2014 18:54

Mirror image in all respects - other than that I actually have a close family member working for CR.

[garbetklb] 29/5/2014 18:31

Hi Skyship

Entirely reading between the lines.

As you suggested, I imagine it's because they are anticipating having something to say - and although Chris Mellor said nothing to indicate this, neither did he mention any administrative etc delays.

I had a very good look at the valuation patterns of company realisations for NRI a couple of years ago to see how cautious/optimistic NVM are when setting values - answer being that they are consistently conservative - can't immediately find the figures, but typically a significant uplift at realisation and the year prior to realisation.

So my top up is a bet on 2 things :
- News is anticipated
- Previous conservative valuations continue

Couple of positive nudges :
- Comments on here about valuation of Control Risks (a company I indirectly knew in a past life)
- Good number of vacancies still showing on KCS website

I've still got a lot fewer shares than a year or so back - a reflection of a) reduced discount and b) smaller, hence more volatile, portfolio of companies held by NRI.

Let's see what the next couple of weeks bring.

Garbetklb