Oakley Capital Investments Share Discussion Threads

[makinbuks] 14/4/2021 16:07

I wouldn't invest in any of the stocks you mention without seeing some trading patterns first. The assumption/hope that everything will revert to the pre pandemic position is yet to be proved. I am certain there will be less business travel. Tourism returning depends in my view on variants emerging and further vaccine roll outs (boosters reacting to variants).

Anyway somewhat off topic as OCI is a well diversified PE vehicle. Majority of businesses growing key metrics through the pandemic

[apollocreed1] 13/4/2021 14:43

@SpinDoctor - It's interesting that when the vaccines were announced in November, so many hospitality stocks jumped up, such as IHG, easyJet, TUI etc. but Time Out didn't move at all until recently.

The opportunity to get into the reopening trade was there for a long time, although I didn't buy more because I was sitting on a 70% loss and felt the reason it hadn't moved was because there was some hidden bad news about to come out.

It's irrational really (confirmation bias), but you only feel the shares are worth buying when they've actually moved up.

[biggest bill] 13/4/2021 09:13

I was pointing out that the difference in value is £43 million which is about 24p on the nav.

[spin doctor] 13/4/2021 09:07

Bill, but look at the current TMO share price.

[biggest bill] 13/4/2021 08:58

According to the latest factsheet, Timeout is valued at £43.3 million.

[spin doctor] 13/4/2021 00:40

Looks like today's RNS helps address my question.
OCI hold 147,897,400 shares in TimeOut.

Approximately, ...at 58p sp, current TMO value is ~£86M, £22M or so above the 31/12/20 value. That's 12p or so on the OCI NAV.

[spin doctor] 13/4/2021 00:29

apollo, you are right. A good opportunity. Generally retail/leisure has been oversold and the rebound is now manifesting.
Get what you can at 35p. Not without risk, but tilted in your favour.

[apollocreed1] 12/4/2021 16:45

As a long time shareholder of Time Out, the rights offer for us only opened last Thursday and closes this Thursday. I am able to buy the shares at 35p while they are trading in the market at 55p. This seems too good to be true. It looks like a real no brainer.
Am I missing something here?

[spin doctor] 12/4/2021 14:28

Yep. About what % of total holdings does Timeout represent?

[cwa1] 12/4/2021 11:39

Time Out frothier still...

[makinbuks] 09/4/2021 16:58

Yes up nearly 10% but still more than 50% of the pre pandemic level. I assume OCI were diluted by the recent fund raise

[cwa1] 09/4/2021 16:40

Time out has been fairly frothy today

[wmb194] 29/3/2021 18:39

*Thursday last week

[wmb194] 29/3/2021 18:39

It only went ex-dividend on Wednesday last week; it pays on 15/04/21.

[ali47fish] 29/3/2021 17:52

i thought the div should have been paid by now-anyone knows?

[1968jon] 26/3/2021 10:40

Having worked with small-cap market-makers, I know how frequently the ex-div date is missed in the pricing. There is a chunky offer at £3.00 at the moment. Might put a lid on it for a while....

[deadly] 26/3/2021 09:50

XD yesterday but the share price was steady on a bad day and bad week. Every little helps.

[speedsgh] 25/3/2021 11:44

Private Equity: Where are the real bargains? -

#APAX #CHRY #MNTN #GROW #III #HGT #HVPE #AUGM #SYNC #LMS #ICGT #PEY #OCI

[varies] 23/3/2021 12:56

Bad news from Time Out today with confirmation that they need to raise more money.
Luckily this is not very material to OCI but I expect that OCI will be participating in this.

[888icb] 22/3/2021 11:07

A momentous day OCI has finally hit 300p. Hopefully it can now start moving north more quickly to eat into that large discount to NAV.

[makinbuks] 22/3/2021 10:27

Engaging Hardman is yet another sign of their desire to make this more market friendly

[cwa1] 22/3/2021 09:57

Hardman Research note(May have to register, etc but free):-



► Investment summary: OCI provides investors with liquid access to the attractive
PE market, enhanced by Oakley’s incremental origination and management skills.
The Oakley Funds are focused on mid-market, tech-enabled Western European
companies that operate in the consumer, education and technology sectors.
Accounting and governance appear conservative. There are risks – primarily
sentiment-driven – around costs and cyclicality, as well as the liquidity and
valuation of the underlying private assets. Previously large shareholder
overhangs have now been sold completely. Buying a business with a consistent
record of outperformance at a material discount to NAV is an additional
attraction, we believe.

[makinbuks] 19/3/2021 18:10

I think you're right, there's a clear drive for publicity and the focus is on closing the discount. They've made various promises to give PI's confidence eg. no more share issues at a discount, no more direct investments they will invest only through Oakley funds and no more provision of debt. This latest article is consistent with these themes previously stated and references HGT and 3i as the benchmark

[varies] 19/3/2021 17:56

The managers are certainly trying to generate some public interest in the shares.
Campaigns of this nature are often the precursors of share offerings but in this case we are told that OCI has too much cash and seeks to invest it.
So the motive must be to accelerate the increase in the proportion of capital held by private investors.
I doubt if the price will move much here for a few months but I think we will do well over the medium term as the quality of the portfolio attracts more attention and the discount narrows.