Ocean Wilsons (holdings)... Share Discussion Threads

[piedro] 09/11/2021 11:25

The above is with 2wk candles
Here is a better chart ...

[piedro] 09/11/2021 11:15

NTV,
Here is a continuous chart showing WSON33 and then PORT3 {26th October onwards}


[chart using ShareScope]

[ntv] 09/11/2021 09:46

Thanks for that flyfisher
Anyone any thoughts on why the share price is falling?
Is it exchanged rate based?

[flyfisher] 08/11/2021 08:12

Try previous ticker, WSON33.

[piedro] 26/10/2021 12:50

Wilsons Sons now quoted on the NM of the BMF BOVESA exchange
with the code PORT3

[piedro] 26/8/2021 09:00

In the news ...

Wilson Sons Advances in Sustainability Initiatives with New Tugboats
New tugboats, which will start operating in 2022, will be equipped with a pioneering solution that reduces nitrogen oxide emission levels by more than 75%
PUBLISHED AUG 25, 2021 11:52 AM BY THE MARITIME EXECUTIVE

[flyfisher] 14/8/2021 10:40

Trading at a 38% discount to current sotp of 1694p, against a historic norm of 20% - 25%.

Resilient trading at wson33. Offshore o&g looking like it will recover as we get back to normal. Decent dividend.

Cheap, but overlooked due to it being a family gravy train would be my view.

I guess they will issue a revised edison note, here is a link to the 21st june update.

hxxps://www.edisongroup.com/publication/smoother-sailing-ahead/29639

I remain optimistic.

[eezymunny] 12/8/2021 13:24

"Half your share value is in the investment portfolio"

More like two thirds...

Probably cheap here, but hardly undiscovered after 3 million years!

[a0469514] 12/8/2021 09:54

Surprised that there is no comments here on the results which look excellent to me. The Brazil operations going well as they recover from covid. Half your share value is in the investment portfolio which returned 9% in a half year. The shares pay a 7.7% divided yield and the share price is at a significant discount to the sum of the parts of the business.A rock solid undiscovered gem imo.Xylos

[piedro] 08/6/2021 23:30

RNS Number : 5048Z
Ocean Wilsons Holdings Ltd
24 May 2021
OWHL - Subsidiary, WSL - Proposed Restructuring
... The Proposed Restructuring is intended to simplify and optimise the Group's corporate structure, increase stock liquidity and facilitate the Wilson Sons' access to capital markets. ...

IMO this restructuring will allow the move of the WSON shares to the 'main' market which is more serious, {like getting promoted from AIM to the FTSE}. Institutions will feel more confident to invest, capital may be raised if necessary and as can be seen the share price is being re-rated.

I note that an astute Director has acquired 2,000 shares,
but the lag in the share price perhaps reflects a certain distrust of the OCN bod.

[flyfisher] 08/6/2021 16:30

Wilson sons has been rising over the last couple of weeks and the real has been strengthening against the USD.

It does not seem to be reflected in the OCN price.

Is their any wson33 news or rumour that has caused the rise?

I get a current sotp of 1751p for OCN implying a 39% discount at current price, much higher than the historic norm.

[piedro] 30/5/2021 00:57

Thank you flyfisher.

I see that in resolutions #4,5 and 7 more than 10% of the votes were against.
May those directors take note.

[flyfisher] 29/5/2021 11:21

1 To receive and, if approved, adopt the Directors’ Report and Accounts for the year ended 31
December 2020.
2 To declare a dividend of 70 cents per share.
3 To determine the maximum number of Directors for the ensuing year as nine and authorise
the Board of Directors to elect or appoint on the Members’ behalf a person or persons to act as
additional Directors up to such maximum number to serve until the conclusion of the next Annual
General Meeting.
4 To re-elect Mr. J. F. Gouvêa Vieira as a Director until the next Annual General Meeting.
5 To re-elect Mr. W. Salomon as a Director until the next Annual General Meeting.
6 To re-elect Mr. A. Berzins as a Director until the next Annual General Meeting.
7 To re-elect Mr. C. Townsend as a Director until the next Annual General Meeting.
8 To re-elect Ms. F. Beck as a Director until the next Annual General Meeting.
9 To elect Ms. C. Foulger as a Director until the next Annual General Meeting.
10 To re-appoint Ernst & Young LLP as the Auditor and authorise the Directors to fix the remuneration
of the Auditor.
11 Ratification and confirmation of all and any actions taken by the Board of Directors and the
persons entrusted with Company’s management in the year ended 31 December 2020.

[piedro] 28/5/2021 10:30

AGM Results out

Does anyone know what the proposals were and were you invited?

[varies] 13/5/2021 11:21

Having bought my shares at about 50p over 40 years ago, I take a languid view of the ups and downs.
OCN has been very consistent over the years in paying a good dividend and the current yield of over 5% (or 100% on my original purchase)is a very welcome addition to my income.
This has changed little in recent years but looks to me more likely to go up than down once Brazil recovers from Covid19.
I do agree, however, that OCN's investment record has been uninspiring. Old Walter Salomon had a golden touch which his descendants plainly do not.

[pugugly] 13/5/2021 08:55

LTOM - Thanks for making me aware of the Incestuous HANSA relationship - Probably a very pertinent reason for ditching OCN in spite of the discount.
Remember the old Lancashire saying "Clogs to clogs in 3 generations"

[last of the mohicans] 12/5/2021 21:36

PUGUGLY,

Your forgetting that most of the family (younger generations) work for Hansa, so OCN via the management fee is paying there wages and keeping them employed. So there not going to change the overall fund managers are they. There also the ones that select which funds the money then goes into ...... which is why there are so many funds in the investment portfolio to make it look to the unobserved that its a "real portfolio" its not, only the top 25 holdings at most actually add or lose the portfolio serious money

If OCN had merely placed all the money it got from selling the Wilson & Sons stake back in 2007 directly in the MSCI All Country World Index inc. (or a fund that mirrored it) missed out Hansa altogether then the portfolio value would now be north of $600M.

LOTM

[pugugly] 12/5/2021 12:14

flyfisher - Agreed fro benifit of family and if I was a member of the family I would take a chainsaw to the fund managers - as I said before diabolical performance. Would have done better - probably - to put it all into ETS's- massive saving on management fees.

[eezymunny] 12/5/2021 09:50

Indeed flyfisher. I had a big % holding (for me) in OCN, bought near the lows, and have trimmed it right back recently- purely on the likelihood of a significant discount persisting.

A sale of Wilson's could happen at any time of course, but that has been true for decades (and I haven't got many decades left).

I'll keep a decent holding at this price mind you...

[flyfisher] 12/5/2021 09:09

Good to see that you are still around Eezy.
In a rational world yes, but this is a family trust run for the benefit of the family, not the minority shareholders.

[eezymunny] 12/5/2021 08:21

"The gross time-weighted performance of the portfolio YTD is 7.5%. This compares to 9.1% for the MSCI All Country World Index inc. Frontier Markets over the same period."

Hardly diabolical, but in any sane world OCN would simply sell up the portfolio, return cash to shareholders and let them invest it as they wish. IMVHO, which counts for diddly squat...

[pugugly] 12/5/2021 07:57

From todays rns. net asset value per Ocean Wilsons share of US$20.03 (£14.50) per share. The Ocean Wilsons share price of £9.25 at 30 April 2021 represented an implied discount of 36.2%

Diabolical discount and poor performance of the investment portfolio both in absolute terms and relative to the market - They should fire the asset managers (imo)

[flyfisher] 12/5/2021 07:43

A solid update today, it still trades at 32% discount to a SOTP valuation and gives a 5% yield.

[flyfisher] 23/4/2021 08:19

WSON33 share price has risen in excess of 20% in the last 3 weeks, which has not been mirrored by OCN who hold the majority.
Brazilian real has firmed against the $, and the investment portfolio should have had a good Q1.

Perhaps OCN will catch up with events.

[piedro] 18/3/2021 14:42

I've never been taken by the Investment Portfolio.

WSON is where its at

ISRAELI TECH AIDS BRAZILIAN PORT NAVIGATION


- this could give towage and agency operations quite some edge
- AIMHO