Northern Investors Share Discussion Threads

[damanko] 19/11/2012 16:38

Yes, just arrived home, logged on and find it's a decent day: FOOTSIE up 100 points or so, and NRI would like me to give them back a fifth of my holding at £3.35 per share.

The Boomtown Rats obviously weren't singing about this particular Monday....

[skyship] 19/11/2012 16:17

Yes - Excellent Tender Offer news from NRI. Payout increased from GBP7m to GBP10mA 20% tender @ 335p versus the increased NAV of 340p:

[jaws6] 19/11/2012 15:37

Tender offer RNS

[skyship] 18/10/2012 16:01

Small, but all grist to the mill...

[jaws6] 18/10/2012 15:44

small tick up

[skyship] 05/10/2012 15:47

After writing that I even decided to stretch my self-imposed 10% limit any stock up to 12%; & added a few @ 286p...

The trend is certainly very strong; and it's interesting to note that the last two upward moves were for 36% in Spring'11 & 33% in Autumn'11. A 30% run now would take us to 300p; 33% to 312p; 36% to 322p. Then perhaps a little consolidation:

[wirralowl] 05/10/2012 14:16

Yeah, thanks for the input, skyship. Was hoping for a pullback and keener entry point, but bit the bullet yesterday as R:R still looked pretty good to me.

[nitnia] 05/10/2012 11:23

thank you skyship for your informed comments.

The upside looks good for the risk even if I've missed the short-term fat and I've been tempted to have a few.

[skyship] 03/10/2012 14:14

PERSONAL UPDATE

NRI continues to perform in sterling fashion, now up 20% since that low back in June. The more I look at them the more I'm convinced that they are a worthy successor for the HPEQ mantle.

Obviously the short-term fat may have been missed for new arrivals; however the GRY @ 388p, a low target of 120% on management's payout spectrum, is still 11.9%pa, EXC. any annual dividend upside.

The spectrum is for liquidation mark-up of 120%-160%.

I take the 20% increase as a shoe-in, otherwise why else would management commit themselves to that 120%-160% target.

If we go for a 30% asset increase to a reasonable target date of 30th Jun'15, then the GRY leaps to 16.0% - with substantial upside still possible.

So, IMO there is plenty more to flow from this stock - one to hold and enjoy over the next 2.5-3.0yrs.

[badtime] 27/9/2012 09:16

Thanks sky

Damanko ..u have a very strange opinion on being sociable considering your last post on the NRI thread

[skyship] 27/9/2012 08:54

BT - see back on this thread - from Post 11 (in days when Damanko was rather more sociable; even welcoming newcomers to the thread - times seem to have changed somewhat!). Bought in first @ 235.4p then added twice up to 247p. In for my 10% MAX @ 240p average.

[badtime] 26/9/2012 22:19

Sky whats yur buying price if u dont mind me asking

[skyship] 26/9/2012 17:31

Garbet - good thinking - hope you're right on that one...

[garbetklb] 26/9/2012 15:11

The odd thing is the earlier target date of 31 October bearing in mind the half year date of 30 September. What was announced today makes much more sense - and always has.
Why 31st Oct was chosen, we don't know. But my guess is that the move today may be to allow a disposal of one of the investments to take place.

InTheHighlands

[skyship] 26/9/2012 12:14

That is indeed my estimate of matters...

[jaws6] 26/9/2012 11:45

skyship
Does that mean as per post 51 it might be near 15 %

[skyship] 26/9/2012 11:38

Yes, good news: Tender will now be "...not less than £7m..."

[eeza] 26/9/2012 10:01

RNS - £7m to be returned by tender paid in December.

[jaws6] 13/9/2012 09:11

no news yet on tender dates or info

[skyship] 09/9/2012 16:39

The timetable of last year's Tender Offer suggests that we should receive news of the upcoming tender fairly imminently. Recent pronouncements stated: "It is currently intended that the Tender Offer will be completed by 31 October 2012."

Assuming a circular is to be announced within a fortnight, the question is will the tender return be more than the £6m already proposed.

We haven't had news of any disposals; but I am hoping that we will actually see something more like £8m.

A 12.5% tender @ 319p would cost £6.08m inc exps

A 15.0% tender @ 319p would cost £7.29m inc exps

[jaws6] 30/8/2012 10:28

skyship
Tks.
small tick up in NRI today

[skyship] 19/8/2012 09:27

Damanko/Jaws - well done with HGT, great disposal.

Found this in the D.Tel on RCP:

The member of the banking dynasty has taken the position through RIT Capital Partners, the £1.9bn investment trust of which he is executive chairman.
The fact that the former investment banker, a senior member of the Rothschild family, has taken such a view will be seen as a further negative for the currency.

The latest omen follows news in The Daily Telegraph late last week that the government of Finland is already preparing for the euro's break-up.
RIT, which Lord Rothschild has led since 1988, had a -7pc net short position in terms of principal currency exposures on the euro at the end of July, up from -3pc at the end of January. Given a net asset value of £1.836bn at the end of July, the position is worth £128m.

Sources close to RIT suggested that the position was not a dogmatic negative view on the euro as a currency, but rather a realistic approach on a currency that remains relatively weak.

It is not the first time Lord Rothschild has used currency positions as a form of hedge. RIT significantly increased its exposure in sterling after the currency's decline in 2008, but then scaled back on both the sterling and the euro, anticipating the ensuing recessions in both regions.

Some 53pc of RIT's assets were in US dollars at the end of July, in part a reflection of its deal to buy a 37pc stake in Rockefeller Financial Services at the end of May.

[skyship] 01/8/2012 17:33

jaws - no, no need to narrow the spread, just really annoys me to see such lamentable market-making.