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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Ocean Wilsons (holdings) Ld | OCN | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 1,300.00 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 1,300.00 |
| Industry Sector |
|---|
| INDUSTRIAL TRANSPORTATION |
| Top Posts |
|---|
Posted at 18/11/2024 02:56 by last of the mohicans Hi xxx,I found this in the Hansa Annual report I guess it answers your question regarding the history "Hansa Investment Company traces its origins back to 1912 when the Alto Paranà Development Company was launched to develop forestry in Brazil. Having become an investment trust company in the late-1940s, the Company became closely associated with the Salomon Family, initially through Sir Walter Salomon, whose family trusts became substantial shareholders. The late-1950s also saw the acquisition of a significant shareholding of Ocean Wilsons Holdings Limited through the issuance of the 'A' non-voting Ordinary shares by the Company's predecessor, Hansa Trust. Over the following decades, the Salomon family helped to build the publicly-owned and independently run investment company we know today, with its focus on delivering reliable long-term asset growth for shareholders. The wider Salomon family remain significant investors in the Company. William Salomon, Sir Walter's son, a director of HICL and Senior Partner of the Company's Portfolio Manager, is interested in 10,347,125 of the shares held by Victualia Limited Partnership, representing 25.9% of the voting share capital. In addition, William Salomon has further interests in the Company's shares; the total interest is detailed in the Directors' Interests section. Other members of the wider Salomon family, who are also descendants of Sir Walter, are interested in a further 12m shares in the Company." -------------------- Hansa own 9,352,770 shares in OCN. -------------------- Now here's the thing I've just worked out ...... The family have the voting rights to @ 55% of HANSA yet they actually only own around 1/6th of its assets. Yes that's right just 1/6th of its assets (40M voting shares + 80M non voting shares in issue). They own lots of the voting shares but very few of the non voting ones. So if we exclude the OCN holding for now HANSA is otherwise worth roughly £320M & so the 2 family's have under £55M invested there. Having that long running strategic review that boosted the share price of OCN shares's also boosted the total value of HANSA on which 1% management fee (as well as director fees) has to be paid, ie 5/6th of the fees are effectively paid by others for the last 2 years & most of 2025 as well now. Now turning to OCN, the 2 families own roughly 26% of OCN & if we add on 1/6th of the 25% of OCN that HANSA own, the 2 families effectively own just over 30% of the company despite having 51%+ of the voting rights. If I exclude the cash for dividends for now, the OCN assets following the sale equate to around $925M or £740M. So the 2 family's effectively have roughly £225M invested in OCN. That's roughly 4 times the amount they have invested in HANSA ! LOTM |
Posted at 26/10/2024 16:17 by eekhoorn Whilst it's difficult to second guess the long term aims of the two families, I think we can assume a lot of the minority shareholders will want an exit as near as possible to NAV. With the ports sold off there's nothing left to stick around for. The biggest minority shareholder is the value investor 'City of London' whose stake rose above 5% in November 2022. So their stake is currently worth about £25m, well worth them fighting to get a good deal and I expect they'll be making their opinions about how the money can be best used forcefully to the board. The post deal NAV currently comprises approximately:Offer as near cash £13OceanWilsons investment portfolio £7So with the share price at £14.20 if you take off the offer cash you get £7 of investments for £1.20 a discount of over 80%.The market clearly does not like OceanWilsons (Investments) Limited and is voting against the prospect of reinvesting any material part of the proceeds there. I would hope that the directors will take this into consideration. They are on record as saying they will "ensure that its decision considers the views of shareholders as a whole." They will certainly need to do this to get the 75% vote required.Personally I'm hoping the directors will offer a substantial tender at 10-15% NAV discount, most minor shareholders would be happy with that and the family and those with CGT considerations would get a useful increase to NAV. Everybody wins but maybe wishful thinking on my behalf! |
Posted at 22/10/2024 17:18 by extrader Oh! wait....Re my 1870 From today's online FT : Mubadala Capital sees chance to buy up large private equity stakes Emirati unit raises $3.1bn for its latest fund hoping to appeal to groups looking to raise cash OCTOBER 22, 2024 .." It is positioning the fund as a solution to private equity groups seeking to exit large bets, or PE-backed companies managing heavy debt burdens that need fresh capital. Mubadala’s private equity fund generally is seeking to invest between $150mn to $350mn in equity per investment, but will push that investment to as much as $500mn for “great ideas”. It now manages $24bn, three-quarters of which comes from external investors...." AD Ports (also from Abu Dhabi) is vying with MSC elsewhere, on the East Mole development at Pointe-Noire, Congo Brazzaville. GLA |
Posted at 21/10/2024 20:59 by last of the mohicans Wilson Sons S.A. (B3: PORT3) (“Wilson Sons” or “Company”Date: 22 October 2024 (Tuesday) Time: 10:00 (Brasília) | 14:00 (London) | 09:00 (New York) Webcast: access link LOTM |
Posted at 19/10/2024 16:35 by livingstone20 I certainly think that having had decades to plan for this moment they will have a tax optimal structure and sequence well thought through. There was some problem with this when they first tried a few years ago which I spoke to the Wilson Sons Investor Relations Director on at time and they were working on. A trade buyer not wanting tugs or the risk of disposing of them may well have made it conditional on having an immediate back-to-back deal to divest or any number of other scenarios may have been investigated and conditioned but I’d be pretty confident it will at least be tax optimal for OCN. Whether what then happens is tax optimal for any of us is then another issue! |
Posted at 11/9/2024 06:55 by cousinit I see that Hansa have scheduled an investor call on 25th September.Does thar suggest the OCN strategic review may be completed by then? Would be a fair sized elephant in the room otherwise. |
Posted at 24/8/2024 11:22 by varies xxxI see your point and share your reservations. The Brazilian business has been very well run whereas the fund management record is uninspiring. A major consideration for longstanding investors is, of course, CGT. Having held my shares since 1984, l find that my cost per share is about 35p. It has certainly proved a wonderful investment. The CGT position of the Salomon family shareholders will be very different from mine and the form that any transaction takes will depend to some extent on this. To prevent (or at least postpone) a CGT liability falling on individual shareholders a bidder might offer its own securities, whether equity or loan stock, in exchange for OCN shares. The bidder could then liquidate OCN's investment portfolio at its leisure. I would prefer this solution to a cash distribution to us by OCN of the Wilson Sons proceeds (on which l would have to pay CGT) and leaving us with shares in the rump which would be an investment fund run by Hanseatic. |
Posted at 24/8/2024 10:55 by ajbird But what’s it worth to investor Joe? How much per share is Wilson Sons estimated to be worth per share? |
Posted at 23/8/2024 12:49 by samsj If it saves you any time, Im guessing this is the article, on the home page of what is I think Brazil's leading business paper (?) :valorinternational.g "The sale of Wilson Sons’s control to the U.S. infrastructure fund I Squared is expected to be the first deal in the sector" |
Posted at 21/2/2024 13:59 by extrader Hat tip to Livingstone20Wilson Sons CFO Another Brazil release that could be business as usual but is also entirely consistent with an impending transaction as an acquirer is usually wants to put their own CFO in, even if retaining key operational management, thus would likely exclude from new retention scheme when implementing. Rio de Janeiro, 20 February 2024 – Wilson Sons S.A. (B3 Ticker: PORT3) (“Wilson Sons” or “Company” Mr. Fernando Salek, current Chief Executive Officer, who has previously served the Company as Chief Financial Officer, will ensure the continuity of the financial agenda, supported by the Investors Relations Officer, Michael Connell, and the controller, Marcello Torres. The Company expresses its wishes of esteem and gratitude to Ms. Fabrícia Souza for her dedication to the Company. Michael Robert Connell Investor Relations Officer GLA |
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