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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Oakley Capital Investments Limited | OCI | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -0.50 | -0.11% | 466.50 | 10:13:46 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 467.00 | 466.50 | 467.00 | 467.00 |
| Industry Sector |
|---|
| EQUITY INVESTMENT INSTRUMENTS |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 12/09/2024 | Interim | GBP | 0.0225 | 19/09/2024 | 20/09/2024 | 18/10/2024 |
| 14/03/2024 | Final | GBP | 0.0225 | 21/03/2024 | 22/03/2024 | 26/04/2024 |
| 14/09/2023 | Interim | GBP | 0.0225 | 21/09/2023 | 22/09/2023 | 20/10/2023 |
| 09/03/2023 | Final | GBP | 0.0225 | 16/03/2023 | 17/03/2023 | 21/04/2023 |
| 08/09/2022 | Interim | GBP | 0.0225 | 22/09/2022 | 23/09/2022 | 13/10/2022 |
| 10/03/2022 | Final | GBP | 0.0225 | 24/03/2022 | 25/03/2022 | 14/04/2022 |
| 09/09/2021 | Interim | GBP | 0.0225 | 23/09/2021 | 24/09/2021 | 14/10/2021 |
| 11/03/2021 | Final | GBP | 0.0225 | 25/03/2021 | 26/03/2021 | 15/04/2021 |
| 10/09/2020 | Interim | GBP | 0.0225 | 01/10/2020 | 02/10/2020 | 22/10/2020 |
| 12/03/2020 | Final | GBP | 0.0225 | 02/04/2020 | 03/04/2020 | 23/04/2020 |
| Top Posts |
|---|
Posted at 16/2/2025 10:34 by foetus in your brain Held OCI for years but my patience is running low. I think Steven does a great job but they either need NAV to start rising or to start a proper discount management process. |
Posted at 04/2/2025 21:42 by yogi I have been with II since it was TD Waterhouse. Have 3 ISA's for myself and kids and never had any problems. You pay a flat fee every month and then trades are also a flat fee. I mainly hold trusts including OCI and HGT and never had any issues with trading. Can't compare to others as no experience personally but always been happy with II. |
Posted at 03/2/2025 09:13 by the millipede I have a holding with HL. Can hold, or sell, but not buy more shares.Seems weird if OCI is complying with legislation, but of course the old rules made HL funds seem cheap by comparison, now they do not. |
Posted at 29/1/2025 12:57 by davebowler OCI about halfway in.... |
Posted at 22/12/2024 23:33 by stagvalley Buying OCI shares is something I want to do but is not currently possible on the HL platform as HL is not satisfied with the OCI cost disclosure, though Oakley say that they comply with FCA requirements. Does anyone know whether the other main platforms take the same view - say AJ Bell and Interactive Investor? It can't be helpful to the OCI share price that HL will only currently permit sale and not purchase!! |
Posted at 01/12/2024 19:38 by red ninja Oakley Capital linkedin feed :-Oakley Capital Investments 3,649 followers3,649 followers 3d • Edited • 3 days ago “The judges commended the company for the rich content and interactivity created through their digital first ESEF report. A very technical but innovative approach.” Oakley Capital Investments are pleased to have won ‘Best innovation in IR – Mid Cap award’ at the The Investor Relations Society Best Practice Awards 2024! Many thanks to Friend Studio for helping to produce the report, and were on hand on the night to join us on stage to collect our award. Thanks also to the Investor Relations Society for hosting such a great event and to the hashtag#oakleyteam who contribute to the success of OCI’s investor relations initiatives. This comes just days after OCI was 'highly commended' in Investment Week's investment company awards in the Private Equity & Growth Capital category. View the winners: Note, if you use the link look at the "Mid Cap" winner which is Oakley. |
Posted at 24/10/2024 09:08 by davebowler Panmure Liberum-Schulerhilfe sale, £40m to OCI and c.7p uplift to Q3 NAV per share Analyst: Shonil Chande Mkt Cap £888m | Share price 500.0p | Prem/(disc) -27.8% | Div yield 0.9% Event Oakley Capital Fund III (Fund III) has agreed to sell its majority stake in Schulerhilfe, a professional tutoring services company focused on Germany, Austria and Switzerland, to Levine Leichtman Capital Partners, at a valuation that implies net proceeds of c.£40m to OCI. This reflects a c.1% uplift to OCI’s Q3 NAV of 693p, reflecting c.+£12m in aggregate or c.+7p. Fund III acquired Schülerhilfe in H1 2017 from Deutsche Beteiligungs. The business generated revenues of €63.3m and reported EBITDA of €16.6m in the year to 31 December 2016. Panmure Liberum view Education-themed investments have been a principal return driver in recent years. While this deal is not as eye-catching on a premium to carrying value basis that OCI has regularly delivered, we think the more salient point is that OCI’s Schulerhilfe will take distributions YTD to OCI to c.£180m, which is impressive within the realisation environment context. Yesterday’s trading update noted that OCI expected to generate c.£135m in look-through proceeds from the sales of idealista and Ocean Technology Group, and the refinancing of Schülerhilfe. Based on announcements at the time, the idealista and Ocean Technology Group deals were due to generate £120m for OCI, leaving c.£15m from the Schülerhilfe refi. This implies up to c.£50m of total proceeds attributable to Schülerhilfe. We printed the following table in yesterday’s comment on OCI’s Q3 NAV. The table does not account for the Schülerhilfe sale announcement. |
Posted at 23/10/2024 09:13 by davebowler PAnmure Liberum -Q3 update, a year of significant investment Analyst: Shonil Chande Mkt Cap £888m | Share price 500.0p | Prem/(disc) -27.8% | Div yield 0.9% Event OCI’s NAV per share declined by 2%, to 693p, in Q3. This was driven by FX. The announcement notes that the underlying businesses continued to perform in Q3. OCI made £28m of new investments in the period (vitroconnect, Touring Capital, PROfounders, and Steer Automotive Group) and the total proceeds from the sale of Ocean Technology Group, the refinancing of Schülerhilfe, and from the sale of the stake in Idealista are expected to amount to c.£135m (we estimate c.£139m YTD including H1). OCI also announced a post-period investment of c.£26m in Assured Data Protection. At the period-end, OCI had net cash of £108m and £57m in the undrawn RCF, which was sized-up by £50m to £225m post-period. Total commitments were £777m, which are expected to be drawn over five years. Panmure Liberum view Most of the valuation growth in the portfolio has historically been driven by earnings growth, with multiple movements typically taking place at realisation. As we show in the table below, 2024 has been a high investment year for OCI, with c.£238m drawn the Oakley funds (including Assured Data Protection. NAV growth potential in Q4 will be dictated by exits. |
Posted at 27/7/2024 11:09 by davebowler Quoteddata research..Oakley Capital Investments (OCI) has released a trading update with its interim results for the six months to 30 June 2024. The company delivered a NAV total return of 3.8% over the period which was 5.6% before foreign exchange impact. The share price total return was 4.16%. The company noted that the underlying businesses in its portfolio continued to benefit from the long-term secular trends that Oakley invests behind, such as growing demand for quality education, businesses' shift to the cloud and the consumer shift to online. Valuation gains were split across Oakley's four core sectors, Technology, Consumer, Education and Business Services. The biggest contributors include IU Group, which continued to generate strong revenue growth, Dexters, which benefitted from sustained growth in its core London lettings business, and Cegid (previously Grupo Primavera), which continues to grow its SME customer base in France and Spain.During the period, Oakley continued to invest for future growth across its core sectors. OCI made look-through investments totalling £184m including transport and logistics software business Alerce (announced in Q4 2023), automotive services platform Steer Automotive Group, medical software provider Horizons Optical, and ProductLife Group, which provides regulatory and compliance services to the life sciences industry. During the period, OCI also announced an investment in broadband open access platform vitroconnect. The transaction is expected to complete in July 2024 and OCI's look-through investment is expected to be up to £20m. OCI is also expected to make a look-through investment of up to £39m in cybersecurity firm I-TRACING after Oakley Capital was granted exclusivity with a view to acquiring a co-controlling stake in the business.OCI's look-through share of proceeds during the period were £4m. Oakley's sale of its stake in idealista, southern Europe's leading real estate classifieds platform, was agreed during the period and is expected to complete in H2 2024. OCI's look-through share of proceeds from this transaction is anticipated to be c.£70m.OCI : Oakley Capital Investments continues to build momentum |
Posted at 09/1/2024 14:42 by davebowler Tom Biltcliffe update-OCI OCI invests in funds managed by Private Equity manager Oakley Capital which specialises in high-growth European businesses across Technology, Consumer, Education and Business Services. Oakley has a strong network of founders and partners that it leverages to find opportunities, often before these are seen by the wider PE market. The manager looks for tech-enabled or potential platform businesses with recurring revenues, especially those that are addressing a large market that has yet to be penetrated by technology. The most high-profile realisation last year was IU Group, an online university platform, which was realised at an 85% IRR. IU Group was a prime case of a tech-enabled solution taking market share in a large, growing market. Other sectors have included online residential property platforms in Spain, insurance comparison in Italy, and golf equipment, which have all lagged the online transition seen in other countries or sectors. Performance With a 5-year NAV total return of 178% and 5-year share price total return of 202%, OCI is established as a top name in the listed Private Equity sector. It is anticipated that the next few years will be a more challenging period for the broader Private Equity market, but we believe OCI is well-positioned to continue to outperform. Key concerns for the sector have centred around the resilience of portfolio constituents in tougher market conditions, excessive leverage with increasing debt costs, and the validity of the valuations. We explain why we think these issues have less relevance to OCI. Portfolio Resilience In the 12 months to June 2023, OCI’s portfolio had average organic EBITDA growth of 21%. Considering this period was marred by high inflation, rising rates and low consumer confidence, this growth is reassuring in showing that OCI’s portfolio companies are coping well in a more challenging environment. This is because it largely consists of established, profitable companies that tend to have sticky, recurring revenues, whilst their innovative solutions are continuing to see strong demand. Leverage OCI has no gearing at the company level and the average net debt/EBITDA ratio of the portfolio is 4x, which is low for the PE sector. When you consider that EBITDA in the portfolio has been growing at 20%+ per annum, this appears even more conservative. Valuations Private Equity valuations have come under the microscope over the last 12-18 months, with suggestions that multiples have not been adjusted to reflect the weakening seen in public markets. OCI takes a much more conservative approach to valuations, demonstrated by the fact that the average uplift to book value on exit has averaged 35%. Furthermore, the current average EV/EBITDA multiple of 16.9x is not demanding for a portfolio growing EBITDA at 20%+ p.a. Although realisations in the sector have dropped off, 2023 European deal activity remained relatively strong last year, fuelled by the amount of dry powder in the sector. Exit opportunities is another key point of difference with OCI. Whilst the larger buyout peers are heavily reliant on a healthy IPO market, Oakley operate more at the mid-market valuation range. As a result, OCI has very rarely used an IPO as an exit route, instead selling businesses to larger PE firms such as Backstone, Apollo and EQT. As already mentioned, and as seen below, there remains significant dry powder and pressure to deploy capital, which we believe will result in continued healthy exit activity for OCI. 2024 Whilst narrowing slightly in the last couple months, the 28% discount to NAV remains an attractive entry point to a fund with a quality portfolio that has continued to perform through a difficult period, has conservative leverage, and a track record of realisations at substantial premiums to carrying values (35% average premium on exit vs 28% discount at share price is quite stark). Rate cuts in 2024, an easing environment for OCI’s assets, and a general improvement in sentiment towards the sector, could see a return to double-digit NAV growth in 2024, combined with a further unwinding of the discount to boost shareholder returns. |
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