Oakley Capital Investments Share Discussion Threads

[davebowler] 03/9/2020 09:24

Liberum;
Note: Digital focus providing resilience

Mkt Cap £454m | Prem/(disc) -33.1% | Div yield 1.9%

Event

OCI’s portfolio is focused on digital business models with recurring or subscription-based revenues. Recent accretive disposals have left the company’s balance sheet in excellent shape, with no leverage and a cash balance of £261.5m (38% of NAV). The share price implies a 53% discount on the portfolio value (ex-cash). We believe this is unjustified, especially given the positive NAV performance during the pandemic and Oakley’s track record of delivering NAV growth and achieving material uplifts on exits (average 34% uplift on realisations since inception).

[cwa1] 01/9/2020 07:31

Hardman research:-

[ny boy] 10/8/2020 19:30

I see one of my neighbours Dubens made a timely purchase in June, already £200k + already! Easy money this one imho

[makinbuks] 05/8/2020 18:25

Well given that a 7% fall in the value of sterling added 16p to NAV you get a fair idea of what is likely. Having made that kind of gain they may consider a hedge worthwhile

[apollocreed1] 05/8/2020 17:14

I wonder what percentage of OCI's assets are in Euros... Because if we get some kind of Brexit deal the pound will rise and cause an instant loss to OCI.

[davebowler] 05/8/2020 13:54

That's why AVI Global owns a fair chunk -

[noiseboy] 29/7/2020 12:49

Where else can you buy a Pound for 62p!

[888icb] 29/7/2020 11:36

With that NAV and cash of £261 million your investment here is pretty safe and it should start to recover to a higher share price The discount to NAV is massive.

[loobrush] 29/7/2020 11:05

RNS Asset value 356p
looking good here with big discount

[panshanger1] 06/7/2020 12:17

Origin fund launched and OCI clearly looking for opportunities.Not adding at the moment but management have a good track record GLA

[sphere25] 19/6/2020 08:03

This one might be poised to move. Some whopping big director buys announced this morning.

[sharesoc] 24/5/2020 15:52

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[panshanger1] 22/5/2020 14:42

Big placing too in relation to the market cap Presumably Invesco and R Caring on board.OCI certainly in for the long haul now - think Dubens is chairman over at TMO

[spectoacc] 22/5/2020 07:31

More TMO news. Just not sure about this, OCI doubling down (again). Quids in if it works, with a larger shareholding, and that 12% loan note. But if it doesn't? I'd rather they were sellers of TMO than buyers.

"("Time Out" or the "Company")

Proposed Placing and Open Offer to raise up to £49 million

and

Debt Restructuring



The Company today announces it is proposing to raise up to £49 million, before expenses, by way of a Placing to raise gross proceeds of up to approximately £45 million and an Open Offer to raise gross proceeds of up to approximately £4 million, in each case at an issue price of 35 pence per New Ordinary Share (the "Issue Price") (together the "Equity Fundraising").



The Placing is being conducted through an accelerated bookbuild process (the "Bookbuild"), which will be launched immediately following this announcement (together with the Appendices, the "Announcement"). Liberum Capital Limited ("Liberum") is acting as sole bookrunner in relation to the Placing.



The Company also announces that it has today entered into the amendment and restatement of the terms of the Group's €22.6 million (approximately £20.2 million) outstanding debt facilities from Incus Capital Advisers, S.A. ("Incus") (the "Incus Loan Restructuring"). The Incus Loan Restructuring is conditional upon, inter alia, the completion of the Equity Fundraising and gross proceeds being raised pursuant to the Placing of not less than £45 million.

[panshanger1] 17/5/2020 05:37

Fair point !!Education is a key area for OCI let's hope it gets moving ( safely ) quickly Interesting to see if they start to deploy some of that cash too AGM 26/5

[spectoacc] 16/5/2020 08:07

128p before or after more to TMO? ;)

Be interesting to know if the German schools etc are reopening now.

[panshanger1] 15/5/2020 17:05

With 128p cash everything has its price though !!

[spectoacc] 15/5/2020 13:27

Agreed, TMO were just getting it together. The huge debt load/ongoing losses always an issue, but were in sight of breaking through.

Not sure OCI has much choice but to support, with c.51% combined, but if I was a TMO shareholder I wouldn't much like that 12%. Really no govnt coronavirus loan available?

And how much money will OCI need to throw at them?

But enough from me - not tempted back to OCI just yet.

[panshanger1] 15/5/2020 10:12

Poor old TMO !!Dreadful timing for them with the new markets just coming on stream Dubens and OCI going to support them through this but could be a long haul

[spectoacc] 15/5/2020 07:22

Interesting:

"Time Out Group plc (AIM: TMO), the global media and leisure business, announces that the Company has extended its existing £20 million loan from Oakley Capital Investments Limited ("OCI") (plus £4.2 million of accrued interest as at 01 May 2020) by drawing down £2.5 million of an available £18 million extension (the "Loan Extension"). The availability of this Loan Extension was first announced in September 2018 and is part of the liquidity available to the Company set out in the announcement dated 23 March 2020. The Loan Extension has now been executed and is provided on identical terms to the existing loan. Funds drawn will be repayable in May 2021 along with accrued interest charged at 12 per cent."


12%..

[panshanger1] 14/5/2020 16:59

Starting to get interesting at this level Market very risk off today and looks like it wants to go lower Will keep powder dry for time being

[spectoacc] 14/5/2020 14:32

594k at 190 bid, can hope that might have been bought back by the co?

[spectoacc] 11/5/2020 14:59

Been a few sellers, not sure if a rec - ST was still as keen on it last time. No further move down in TMO (not that that's one I'd fancy much atm).

[sharesoc] 10/5/2020 16:20

We are hosting a ShareSoc Webinar with Oakley Capital Investments (OCI) on 19th May which may be of interest:

[spectoacc] 16/4/2020 13:34

Not a Telegraph reader but yes - markets beyond delusional IMO. At risk of repeating what I've said elsewhere: Covid-19 has no swift resolution, the world has changed, and whilst it won't last for ever, some of the effects may be permanent.

It's now a balance between the printed cash thrown at it, and a simultaneous demand/supply collapse. My guess is that we'll see it in the oil market next, on the logic the bond market is now a false market. Govnts will have slightly more problem buying up excess oil when world storage capacity is full (pump it back into the ground?).

I'm stuck in some unsellable stuff, but have liquidated everything that has a ready market. Hope to be back to the likes of OCI in time, but suspect the market will look very much different in 4-6 months, when Covid-19 is still very much with us, lock-downs are back in place, shortages in basic goods, early stimulus has run out/needs repeating, and we're heading into winter and not spring. Bank balance sheets won't be so healthy by then, globalisation will have all but reversed, planes still grounded etc.

Of course, I might be wrong.......... My money's where my mouth is if I am..