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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Ocean Wilsons (holdings) Ld | LSE:OCN | London | Ordinary Share | BMG6699D1074 | ORD 20P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| -15.00 | -1.03% | 1,435.00 | 15,864 | 16:35:26 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 1,435.00 | 1,445.00 | 1,450.00 | 1,430.00 | 1,450.00 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Towing And Tugboat Services | USD 494.44M | USD 67.05M | USD 1.8960 | 7.62 | 512.76M |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 16:37:05 | O | 2,000 | 1,445.60 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 23/8/2024 | 13:34 | ALNC |  Ocean Wilsons in talks with US fund over Wilson Sons stake sale |
| 23/8/2024 | 12:40 | UK RNS | Ocean Wilsons Holdings Ltd Response to media speculation |
| 09/8/2024 | 09:33 | ALNC | Ocean Wilsons profit jumps 13% as global markets improve in first half |
| 09/8/2024 | 07:00 | UK RNS | Ocean Wilsons Holdings Ltd Preliminary results for the period end 30 Jun.. |
| 28/5/2024 | 11:01 | UK RNS | Ocean Wilsons Holdings Ltd Results of AGM held on 27 May 2024 Replacement |
| 28/5/2024 | 09:47 | UK RNS | Ocean Wilsons Holdings Ltd Results of AGM held on 27 May 2024 |
| 20/5/2024 | 14:01 | UK RNS | Ocean Wilsons Holdings Ltd Final Dividend 2024 |
| 08/5/2024 | 11:39 | ALNC | EARNINGS: International Biotechnology bullish; Andrews Sykes profit up |
| 08/5/2024 | 07:00 | UK RNS | Ocean Wilsons Holdings Ltd 1st Quarter Results |
| 25/3/2024 | 07:00 | UK RNS | Ocean Wilsons Holdings Ltd Dividend Declaration |
Ocean Wilsons (holdings)... (OCN) Share Charts1 Year Ocean Wilsons (holdings)... Chart |
|
1 Month Ocean Wilsons (holdings)... Chart |
Intraday Ocean Wilsons (holdings)... Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 14/10/2024 | 15:18 | Ocean Wilson - alltime high | 1,823 |
| 25/3/2004 | 08:02 | THE MOST UNDERVALUED STOCK ON THE MARKET ? | 5 |
| 02/10/2003 | 14:20 | THE MOST UNDERVALUED STOCK ON THE MARKET ? | - |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|---|---|---|---|
| 2024-10-14 16:23:57 | 1,441.00 | 2,000 | 28,820.00 | O |
| 2024-10-14 15:35:26 | 1,435.00 | 2,418 | 34,698.30 | UT |
| 2024-10-14 15:27:50 | 1,445.00 | 18 | 260.10 | AT |
| 2024-10-14 15:27:48 | 1,445.00 | 29 | 419.05 | AT |
| 2024-10-14 15:27:43 | 1,440.00 | 1 | 14.40 | AT |
| Top Posts |
|---|
Posted at 14/10/2024 09:20 by Ocean Wilsons (holdings)... Daily Update Ocean Wilsons (holdings) Ld is listed in the Towing And Tugboat Services sector of the London Stock Exchange with ticker OCN. The last closing price for Ocean Wilsons (holdings)... was 1,450p.Ocean Wilsons (holdings)... currently has 35,363,040 shares in issue. The market capitalisation of Ocean Wilsons (holdings)... is £510,995,928. Ocean Wilsons (holdings)... has a price to earnings ratio (PE ratio) of 7.62. This morning OCN shares opened at 1,450p |
Posted at 25/8/2024 12:51 by last of the mohicans When you think about it, lets say they are talking 24 Real a share, which is roughly £3.33 for each Wilson & Son share or £23.40 to each OCN share (not including the investment portfolio value per share).Why on earth are they not using the 2 dividend's they've already received from Wilson & Sons to initiate a non-discretionary share buy back of say £15M intended to be completed before the end of 2024, at a price of up to £16 per OCN share. Every time the share price is under that the broker mops up what they can from the market. It enhances both TNAV & EPS & it would be described as accretive from the off! LOTM |
Posted at 25/8/2024 09:50 by last of the mohicans joedjoed,I think you've got this all wrong. Wilson & Sons share price never fell back as much in terms of the actual quoted share price since the first review announcement a year ago, whereas OCN's price did drift back a lot more. In the meantime the price of the Brazil Real has fallen over 10% to both the $ & £. So the market value of Wilson & Sons now is less than it was before ( a year ago) in $ terms. It didn't rally as much because people have realised that Wilson & Sons have no control or input into what's actually going on. Its OCN who will decide if they will agree a price for there @ 57% interest in the company with a buyer or not. If they agree such a price then those who hold Wilson & Sons shares directly will have the chance to accept the same price for there holding or not. So the Buyer might end up with OCN's @ 57% holding plus say another 20% of acceptors & possibly a big enough rump of shareholders who don't think the offer is good enough & refuse to sell out at that price! Alternatively a buyer if they think OCN are asking to much or want to gain leverage over the situation could enter the market & buy up Wilson & Sons shares there & make an on-market offer for the whole minority 42% interest ! again this might or might not be accept by those other shareholders. --------------- Why do you think there might be a narrowing of the discount? Its more likely to widen given the discount HANSA trades at to its full look through value. The dividend & therefore yield would be much lower than it is now for OCN & who's going to want to invest in that ? HANSA isn't big enough or have enough free cash to buy up OCN even if it wanted to & I doubt many current OCN shareholders would want to own HANSA shares that's for sure. LOTM |
Posted at 25/8/2024 07:58 by joedjoed I'm missing something here: if OCN has rallied in expectation of a bid for OCN's majority holding in Wilson and Sons why hasn't Wilson and Sons' share price in Brazil itself rallied more?I think there is an argument that there are two mechanisms at work to the benefit of OCN: one being the premium a buyer would pay, the other being an expectation of a narrowing of the discount but would not the former impact the quoted Brazil price too? |
Posted at 24/8/2024 23:29 by last of the mohicans I think some of you are getting a little confused here, the offer if it comes isn't for OCN but for its subsidiary Wilson & Sons.If OCN accepts the offer ( & then OCN shareholders vote to accept it also) Please note it might require 75% shareholder approval rather than just 50%, if its a special resolution etc & Ordinary shareholders should pray that, that is the case as that's about the only time we will have some leverage & power against the 2 controlling family's majority control & thus force them into certain concessions that they normally wouldn't make, like paying out a certain amount of cash per share, share buy-back programs etc, that they have failed to entertain for years now. The last thing us minority shareholders want is for Hanseatic to be involved in any way of managing the assets so that the 2 family's, their decedents, close relatives & there friends can keep drawing off their annual management fees & bonuses so that they all have nice salaries at our expense, while all we get is a terrible performance on the assets. Those here long enough will regret ever agreeing to float 42% of Wilson & Sons in the 1st place in 2007. A move that has cost everyone collectively north of $300M and counting since then. Having OCN still existing & trading at something like a 40% discount to the underlying value (if a transaction does occur) does none of us any good that's for sure. -------------------- As for the value of Wilson & Sons - well most of you don't seem to have grasped the transformation of the business that's occurred in the past 12 month's on the 2 container terminals. They are in a massive growth phase that many of us have waited years to see & this will make a significant difference to the company's bottom line going forward. you've only just caught a glimpse of it so far. The new route at Salvador (Santana) which is only just starting up, looks like it is going to be adding 4,000+ TEU's a month to the numbers alone that's like 15%+ of the monthly number plus the other routes are seeing much more volume to. At RG the new (FIL route) which has been going for under 3 months & its feeder ship have been adding around 6,000 TEU's a month to the numbers (up to 20% of volume)consistently & if the latest weekly visit numbers are maintained that number is going to rise to well north of 8,000 a month. A 2nd new service is just starting up but there is no visibility on it as yet to say what the numbers might be like. But combined if your looking at the annualised numbers we're about to jump from just over 1M TEU's for the year to about 1.3M+ & still rising rapidly & that is after several years of hovering around the 900,000 to 1M annually. RG has not been doing much better than break even for years now because of fixed costs being such a large part of the container terminal business. Its now about to go from under 50% utilisation to over 60% (and if you adjust for the new routes & the flooding at the start of May the real figure is probably very close to 70%). Hence where the surge in profits is coming from. Which in turn boost the value of Wilson & Sons if the same PE multiple is used etc. You also need to remember that Wilson & Sons invested over $1 Billion in the business in just a 5 year period & has had to wait quite some time to start getting a decent return on that money. -------------------- OCN owns 248.644M shares of Wilson & Sons, Friday's closing price of PORT3 was Brazil Real 17.40 with roughly 5.50 to the $ that equals $3.16 which in turn equals £2.41. So that values OCN's holding at £600M That then translates into £16.98 per OCN share. I don't think that price truly reflects where the Wilson & Sons business has got to. I think any offer would have to be north of Real 20 (£19.52 per share) to get the family's interested & I think a year ago the figure of Real 22 (£21.47) was being mentioned. LOTM |
Posted at 24/8/2024 18:16 by meanreverter On page 15 of the interim report, in the consolidated accounts, the equity attributable to the holders of OCN is $587.194m. There are 35,363,040 OCN shares in issue. So the asset value per share is just over $16.60, or about £12.59 at the current exchange rate.It's arguable that the book value of Wilson Sons (WS) is unrealistic, and instead we should consider the market value of the shares. According to Yahoo Finance, the market cap of WS is BRL7.615bn, or $1388.345m. In the consolidated accounts, the asset value of WS attributed to the 43% non-controlling interests is $202.617m. However, the market value of these interests is $597m. Accordingly, by this measure, the value of OCN's 57% stake should be boosted from (57/43) × $202.617m to (57/43) × $597m: that is, we should augment the nominal $587.194m NAV of OCN by $522.787m. This would give OCN a NAV of $1110m, or a per-share value of $31.39, equivalent to £23.80 per OCN share. This looks too high. I have no qualifications in accountancy; so the above calculations should be treated with suspicion, and they may well be wrong. Edit: The 57-to-43 ratio is taken from the 2024 interim report. However, after digging through the 2023 annual report, on page 70, I found the more accurate figures: namely 56.52 to 43.48. Re-doing the above calculations using the more precise ratio reduces the OCN NAV per share by about 1% to £23.55. |
Posted at 24/8/2024 15:12 by joedjoed I don’t see a 1bn total value, Allstar_7. Let me know where we differ:OCN has 3 elements: its holding in Ocean Wilsons and Sons (OWS) listed in Brazil, investments through Ocean Wilsons Inv Ltd (OWIL) and cash. The three elements are as follows: OWS: OCW owns 56.52 % of OWIL. At Fridays closing and using Fridays FX rate that is worth 56.52% of mkt cap of GBP 974 mln = GBP 550.60mln OWIL: at the March update the portfolio was valued at USD 322.8. As a seat of pants estimate lets say that is now 330 USD. This is = GBP 259.84 Cash: as the March update the cash was USD 25.8 = GBP 19.55 Total is 550.6+259.84+19.55 = 829.99. This is lower than the March position as the Brazilian real has weakened and the OWS share price has weakened. There are 355.36mln OW shares in issue. This means NAV per share is 23.47 vs share price of 14.60 at Friday close. This is a discount of 37.8 To Varies: I don’t see your angle. Surely if OW disposes of OWS it will receive cash which it would payout as a special dividend. |
Posted at 08/5/2024 07:58 by pugugly So when - If ever is the OCN share price £13.45 (before opening) going to more closely reflect the NAV? Currently over 50% discount."Implied Net asset value at 31 March 2024 At market close on 31 March 2024, the gross trading value of the Ocean Wilsons' investment in Wilson Sons totalled US$890.2 million, which represents US$25.17 (£19.94) per Ocean Wilsons' share. The investment portfolio was valued at US$322.8 million which represents US$9.13 (£7.23) per Ocean Wilsons' share. In aggregate, including US$25.8 million of cash at the holding company level, this results in an implied net asset value before tax per Ocean Wilsons' share of US$35.03 (£27.75)." |
Posted at 01/2/2024 23:36 by last of the mohicans Personally if Wilson & Sons is sold, I don't see a merger between OCN & Hansa Trust happening.Its fraught with complexity. Hansa has 2 different types of shares in issue the voting ones & non-voting ones. The 2 family's control enough of the voting ones to keep control of it. However they don't have a majority ownership of the non-voting ones (There are a total of 40M voting & 80M non voting) At OCN they own just over 51% of it with half of that ownership coming in the form of Hansa. Who would make the offer for the other? It would needs to be priced at a price that the independent directors could justify it as being in the best interests of shareholders to accept (both companies). Hansa NAV currently sits at £427M but the shares trade at a discount of over 40% currently to that valuation & they still don't carryout buy-backs of the A shares which they have the authority to do. Over 27% of that value comes from the OCN holding meaning the rest of the Hansa portfolio is worth £300M max & the OCN % will have increased since the end of Dec to possibly 30% or more now. OCN has a market value of £495M currently for the 35.36M shares in issue, but the current implied NAV is over £23 per share, ie a value of over £800M at the current Wilson & Sons price. So working backwards, the non family shareholders own roughly £400M in OCN. The family own roughly £200M of OCN & Hansa slightly over £200M. That means the cash value of Hansa would be around £500M in total, or over £4 per share. The 2 family own under 30M shares, so I'll assign them £120M to be on the safe side. So the £1.1 Billion we're talking about in total is split into 3 groups the 2 family's have £320M of it, £380M of it belongs to the other Hansa investors & £400M of it belongs to the other OCN shareholders. Leverage wise you'd say its still possible for the family's to still keep control of the empire in a convoluted structure but its going to be extremely difficult to do & the vast majority of shareholders in OCN & Hansa know what's coming. They've seen the years of pathetic Investment performance that Hanseatic have given everyone, they are not going to put up with it, they will want cash so they can get away from them & get decent returns on there money elsewhere. The breakdown of the assets show's that Hansa doesn't have the cash to buy OCN all it could do is offer OCN shareholders shares or a cash/shares combo, but no-one in there right mind is going to take A shares in this day & age & are highly unlikely to take even the voting shares unless there being offered full value for there OCN shares. But in doing that the 2 family's would lose control of Hansa because they only own 25% of OCN compared to our 48% & when that's converted into Hansa A shares there total holding would drop below 50% of the A shares. OCN would have the cash to buy Hansa, but that would definitely fall under the category of invested interest when it comes to the 2 family's & so they wouldn't be in a position to vote on whether to approve such an offer & I'm sure the rest of us would vote to reject such a move & would be asking the directors to step down for wasting our time & money. LOTM |
Posted at 19/11/2023 11:40 by last of the mohicans riskvsreward,You mean Hansa trust. First of all - it isn't OCN that's possibly being taken over its it's subsidiary Wilson & Sons. Second there is no guarantee whatsoever that were this sale to occur that OCN will pay that money out to its shareholders in the short to medium term. That's up to the 2 families to decide & they may want to continue OCN as a sort of investment trust (which virtually all minority shareholders wouldn't want to happen but have no say over) 3rd, lots of investors over the years have looked at OCN and then at Hansa Trust's holding & thought Hansa was the better route to go because of the significant discount that it trades at to NAV. The problem with that, is you expose yourself to a couple of problems! A) 60% or so of the fund invests in the same things that the OCN portfolio does! (I've already highlighted at great length's how poorly it has done in comparison with how it could have done if it simply mirrored the Index they talk about in the annual reports) B) What yield do you get on Hansa shares each year compared to owning OCN ? yes you've guessed it a lot lower one, so with each passing year the amount you've missed out compounds. C) Tied in with B, you are paying yet more fees & bonuses to the families & there friends simply for them constantly holding the OCN shares! & that's got nothing to do with how OCN is performing or has performed in the past, its simply part of the unique controlling structure the 2 families build up decades ago, so that they control OCN & they have the cheek to charge Hansa Shareholders for doing so. Performance-wise OCN has never been near its 2011 (I think it was) high of over £17 a share. So you can just start to imagine the drag that's had on Hansa's performance since then. Normally a fund manager would have bailed out years ago on such an under performer, but Hansa can't it is caught meeting the needs of the family not the other investors (especially the "A" shareholders) in the fund. ----------- If Wilson & Sons were sold & OCN did pass on the proceeds to its shareholders, there's no guarantee that Hansa won't carry on as it is & just invest the proceeds in other things. So they'll still get there fees/bonuses only on a large amount of assets under management & the shares would still then trade at a significant discount to NAV ! But at the end of the day you pays your money & takes a chance....... Good Luck LOTM |
Posted at 16/11/2023 20:52 by last of the mohicans CousinITThank you for making me look at Hansa Trust again. What was printed today was a total load of codswallop. If you take 2 seconds to scratch below the surface you'll see that the vast majority of the non OCN holdings in the Hansa Trust are the exact same ones that are in the OCN investment portfolio. There's virtually no diversification, because the same people run both funds 7 the cash is invested in the same funds of funds believe it or not. The out-performance of the Hansa fund is solely down to the performance of OCN take it out of the equation & the performance is truly dreadful. The excuse for not buying back stock is beyond belief. They don't want to sell any of the OCN shares because if they did so they'd lose control of the OCN. Unless of course one of them thought outside the box & came up with an easy solution! If we buy-back some OCN shares that would increase our interest in OCN, we could then sell a corresponding % of the Hansa OCN holding to help fund the buy-back ! Hansa is at a 40% discount to its value. OCN is at a near 50% discount to its value. -------------------- All the newbies here simply don't get. The 2 family's own & run Hanseactic Asset Management along with there children / grandchildren & friends. The Hansa trust & the OCN investment fund are flagships for them trying to raise the amount of funds they have under management to rake in there 1.5% fees & bonuses year after year & allow them to mix in high circles. Particularly at the expense of the minority OCN shareholders & those holding A shares in Hansa. That's the reality. If they were any good at investing or simply invested the cash from 2007 in the index they love to quote annually OCN's investment portfolio would be 140% higher than it is now & that's without taking the extra fees paid into consideration. LOTM |
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