Oakley Capital Investments Share Discussion Threads

[spectoacc] 25/10/2018 19:38

Perfectly happy holding, nice yield, plenty of scope for strong realisations IMO. Could be your chance to get in @Skyship!

[skyship] 25/10/2018 18:16

Incidentally, I see Peter Dubens bought another 135,096 @ 184.5p...

[skyship] 25/10/2018 18:14

Hmm - OCI had held up well in spite of the Summer's double top at the psychological 200p resistance; but now with the Octoberfest and TMO falling ever further (now at 70p!) perhaps 165p on the cards here. Hopefully CWA1 & Specto exited higher as the Markets softened.

I've been caught in a similar - MVI - reduced, but not sufficiently - DOH!

[spectoacc] 21/9/2018 19:37

Had another little nudge from ST. Only downside to holding it ;)

[cwa1] 06/9/2018 07:40

Results:-



Christopher Wetherhill, Chairman, Oakley Capital Investments Limited

"OCI has delivered a strong start to the year, driven by three successful exits that contributed to a 19% increase in the Oakley Funds. This in turn has resulted in the company's NAV growing by 6% and a total shareholder return in the period of 14%. Oakley Capital has taken advantage of a strong pricing environment while continuing to demonstrate its ability to identify attractive investments at compelling valuations, through its unique network."

Peter Dubens, Managing Partner, Oakley Capital Limited

"The talented management teams we partner with continue to surpass our expectations. There is no better demonstration of this than the 3.9x money multiple achieved following the disposals in the past six months. The remaining portfolio companies continue to perform well and their ranks have been strengthened further by the addition of Career Partner Group, which makes education our largest sector by funds invested. Fund III will be almost 70% invested post cPanel, as our connected, creative and collaborative approach to investment continues to produce industry-leading results."

Dividend of 2.25p payable on 25/10.

[spectoacc] 27/7/2018 07:12

Thanks @Skyship. TMO not been good for them so far it's true, and the most "visible", and hard to justify it on current valuation (growing, but losses). However - my money's on Dubens being correct on TMO eventually - not that I'm buying any TMO!

[skyship] 26/7/2018 18:44

Well done Specto - gains elsewhere more than cancelling out the TMO disaster.

[spectoacc] 26/7/2018 07:46

Still the pick of the p/e trusts for me. NAV up in spite of TMO headwind:


"Oakley Capital Investments Limited(1) (AIM: OCI, the "Company") which provides its shareholders with access to a portfolio of high quality companies through its investments in the Oakley Funds(2) , today announces a trading update for the six months ended 30 June 2018.

NAV Range

The Company's net asset value is estimated to be in the range of GBP524m - GBP530m, which represents a NAV per share of GBP2.56 - GBP2.59, compared with GBP2.45 per share reported at 31 December 2017.

Performance

There have been positive revaluations in the underlying portfolio across Oakley's three core sectors: digital consumer, TMT and education. Uplifts have been driven by the portfolio companies' continued ability to exhibit strong performance and growth in profitability. The uplift in NAV was offset by 12 pence due to a fall in the share price of Time Out Group Plc during the period. Time Out continues to make progress and its Board remain confident of meeting their strategic and financial goals.

Realisations

During the period OCI has benefitted from the realisations of Parship Elite, Verivox and Facile, which generated a combined gross money multiple of 3.9x and returned GBP102.3 million to OCI. These exits reflect Oakley's continued success in the digital consumer space as well as its ability to create value and identify long term attractive assets. The realisations were at a combined 39% premium to the OCI's year-end look through value and increased the Company's NAV by 14 pence.

Investments

In the six months to 30 June 2018, OCI invested GBP62.1 million via the Oakley Funds, primarily relating to the acquisition of Career Partner Group and the reinvestment in Facile, as well as a follow-on investment in North Sails. "

[contrarian joe] 22/7/2018 19:17

Hawksmoor bought into Oakley in April.

[spectoacc] 06/7/2018 14:05

It had another nudge from Thommo too I see. Always rated him ;) ;)

[spectoacc] 29/6/2018 16:06

@Sky - been some enormous d buys in TMO, seems to be shifting it off the bottom - still time to buy into OCI.. ;)

(Though on that argument, maybe TMO's the long).

[skyship] 24/5/2018 08:06

Nice deal - well done Specto - that valuation gain almost cancels out the markdown over at TMO...

[spectoacc] 24/5/2018 07:47

9.3p NAV uplift on the sale, nice. And a few more tech holdings like that still held by OCI.

[cwa1] 24/5/2018 07:27

Sale of Facile:-

[spectoacc] 18/5/2018 13:23

Another nudge from Tommo:

"I am not the only one who sees value in PE IT OCI. Director Peter Dubens has ssplashed on £9m on 5.4m shares to take his stake to 7.5m shares. It's easy to see why, as I estimate the shares are rated on a 26% NAV discount compared with peer group avg of 13%.." etc.

Does make the interesting point that OCI have stakes in Casa.it & atHome.lu - relevant with Zoopla being taken out at a good price.

Wonder what that 13% avg discount quote includes... iii?

[skyship] 16/5/2018 16:44

Specto - TMO down another 6% today - now at 90p!

I agree with your sentiment re BTEM; however...

[spectoacc] 11/5/2018 08:44

Never been keen on TMO either but they'll either succeed (big) or they won't I guess. Plenty of examples of successful co's that look to have minimal moats (eg the bid for ZPG today, & the highs on RMV).

Haven't offloaded any OCI on this rise - never pays to bet against BTEM.

[loldemort] 11/5/2018 07:53

I am worried about Time Out -- I would have thought that Google could AI something similar up in about 10 minutes, with global coverage.

[skyship] 10/5/2018 12:02

OCI's NAV being pruned yet again as TMO (their largest holding) falls another 6% today - something rather wrong there perhaps...certainly the share price performance rather concerning. Chart not a pretty sight:


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[skyship] 05/5/2018 13:56

May well be, but the last NAV showed 250p. The 20% fall in TMO since Dec'17 (closed Friday at just 104p!) has lopped 10p off that figure. So the discount is now down to 26.25%. Long term holders will know that is a fairly low discount for OCI.

[888icb] 02/5/2018 14:24

Presumably BTEM dont share your concern over the largest holding. If they did they would presumably not take such a large stake at this time. This share is so far below its NAV that its an absolute bargain.

[skyship] 02/5/2018 13:30

Good news that activist BTEM taking the dormant Ruffer stake; however the poor performance of the TMO share price is constantly undermining the NAV. TMO is their largest holding and the share price is down c15% over the past month.

Possibly right to sell into this temporary strength.


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[cwa1] 26/4/2018 19:43

Bit of a shuffle there....