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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Pollen Street Group Limited | POLN | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 18.00 | 2.65% | 698.00 | 13:44:50 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 680.00 | 680.00 | 698.00 | 680.00 |
| Industry Sector |
|---|
| PHARMACEUTICALS & BIOTECHNOLOGY |
| Top Posts |
|---|
Posted at 21/3/2024 19:17 by topvest Yes, results today were very promising. I think Pollen Street are well regarded as an alternative asset manager. They are growing in difficult market conditions. In a few year's time the asset management results will > the investment company. It all needs patience, but I am hopeful that it could be an Intermediate Capital. From the price where it is, it has the right characteristics to be a potential multi-bagger. Nice dividend while we wait. The only thing I'm wary of is that the CEO and team are deliberately not promoting the company much, so that they can buy-back shares on the cheap. Like Tetragon. But this is unfounded - just wary. They need to build trust. Might do another top-up on weakness.The results are quite complex this year, but great under the surface. It's a bit frustrating that they can't be clear on the dividend in pence. I think it's a small cut, because of the waivers last year, but of course they couldn't bring themselves to say that like so many other companies...just tell it how it is rather than try and avoid saying something that is not glowing...it just undermines confidence. |
Posted at 21/3/2024 07:18 by 34adsaddsa ~£10 Billion AUM target within 4-5 years.Return on investment assets aim of low double digits within 2 to 3 years. With 70% in private credit and 30% in private equity. If they can meet those goals these shares will skyrocket. As it is you're getting a ~9.5% progressive dividend and a buyback. Current p/e ratio of 8.5, FCF yield of 11.7%. |
Posted at 08/3/2024 07:51 by rogerrail I am surprised that there is no rns from poln on this. No idea if there is any shareholder interest in the investment funds acquiring mtw, I guess not . |
Posted at 08/3/2024 07:05 by spectoacc Is this POLN buying MTW, or POLN funds buying MTW? Either way, can't say I'm too keen:"Information on Bidco and Pollen Street Capital · Bidco is a limited company registered in Guernsey and was incorporated on 27 February 2024. Bidco was formed for the purposes of the Acquisition and is a wholly-owned indirect subsidiary of investment funds advised and managed by Pollen Street Capital. Bidco has not traded since its date of incorporation. · Pollen Street Capital is one of the leading specialist private equity investors in the financial and business services market in Europe. Pollen Street Capital works with entrepreneurial management teams to build businesses that deliver market-leading products and services to their customers, in order to create long-term sustainable success." |
Posted at 25/1/2024 17:16 by spectoacc They've replied now to my message, and finally fixed it, BUT you couldn't make up what the message says:"Thank you for your recent message. Please confirm what holding you're referring to by POLN as there is no ticker on our platform that matches that." I assume in the minutes after sending that, they discovered that oh, yes there is, it's the same POLN it's always been. Not quite Barclays Stockbrokers levels of ineptness, but you do sometimes wonder about HL these days. |
Posted at 15/12/2023 10:49 by catabrit Agreed. I am back into this after selling it in March to buy APO at $58 (now $92!) as I think the moving to the main market in 2024 will act as a catalyst. I think there’s a safe 20-50% upside in capital appreciation alone which leads to a good IRR when you factor in the dividend too. It’s still a very small alts business but the balance sheet - and focus on credit and FinTech - will likely act as an accelerator in terms of flows.I also can’t stress enough just how important diversity is becoming with institutional LPs and with the main shareholder and founder being female, I think that will help a lot. |
Posted at 24/4/2023 20:12 by topvest Thanks - interesting comments. I just feel that the investment manager saw an opportunity to grab a chunk of the investment trust - that has happened, and could happen again through share buy-backs etc. if the dividend is cut at some point. I will keep watching but I am not convinced that shareholder value creation is at the top of their list. The B share scheme was a bit odd and would have created excess complexity. As for the net asset value, its very difficult to assess given the outsize goodwill number in the balance sheet. Of course Pollen Street now have to eliminate the fees on the investment trust which was a fairly sizeable part of their reenue pre-transaction. On reflection, its not one for me at the moment but happy to keep monitoring.If you don't like the Tetragon example, then maybe they are following the Intermediate Capital approach...if it works like that then shareholder value creation will be good / outstanding. Watching the motives and actions of Pollen Street and the board for a year or two is the way to go for me. |
Posted at 24/4/2023 12:48 by 34adsaddsa "This certainly looks interesting, but I think they definitely paid a high price for the asset manager, and I'm starting to think this was a better deal for Pollen Street management than original holders."They did and it was, that has been obvious for a while. It's unfortunate for people who have owned it throughout but it's irrelevant for people buying in subsequently. "Is there a risk that Pollen Street is going to end up like Tetragon with management benefiting at the extent of other holders later on down the track.....I still prefer Foresight and Gresham where owners are better aligned with minority holders." Pollen street management aren't majority holders and they own the same share class as everyone else. Tetragon has a crooked share structure which does screw over everyone except insiders. The withdrawal of the B class preferred share proposal due to lack of shareholder support is evidence of that lack of control. -------------- I've never looked at Foresight or Gresham - I may do so and get back to you - but POLN keep repeating that they will get AUM up to £4-5B. If they can then the operating leverage mean revenues will pretty much drop straight to the bottom line and the current implied valuation of old Pollen Street means it looks cheap. There's one other point: POLN's existing balance sheet investments average 2-3 years in duration from the beginning. They were therefore made in the ZIRP era. As those investments are repaid, the money will be re-invested in loans at significantly higher interest rates. A US investment manager recently said he was getting rates of 12-15% on what he regards as safe loans because rates have gone up so much and small banks have pulled back. P.S. I didn't downvote you. |
Posted at 20/12/2022 14:46 by cc2014 hmm. Well, nothing falls this far this fast unless someone knows something.And even if it did fall this far this fast without good reason someone in the know would be picking the shares up cheap more aggressively. I have learnt over the years that whilst it's perfectly possible to catch a falling knife like this and flip for a decent return, you better be quick if there really is trouble ahead. I am very grateful that this BB exists sometimes. It forces me to go and do some research. I can't be bothered to type it all up but as a starter for ten. POLN is lending up to £125m to Sancus (ticker LEND). LEND is a basket case. One look at the chart shows this. It's lost in excess of 95% of it's value and now has a market cap of £9m. Now I'm sure POLN will have appropriate security and covenants against the loan but to me that's an inappropriate multiple regardless of the security (and I've seen enough of this type of arrangements that once they start falling apart nothing is quite as it should be. I'm not saying that will happen here of course) There are further issues. POLN always did pay too much for Shawbrook imho, not that I'm complaining as IIRC I tripled my money on Shawbrook. The market seems to think so too. |
Posted at 15/11/2022 19:55 by rambutan2 The reduction commences:The Directors of Pollen Street plc have declared an interim dividend of 16.00 pence per eligible ordinary share (as set out below) for the three-month period to 30 September 2022. The dividend will be paid on 23 December 2022 to holders of ordinary shares on the register as of 2 December 2022. Former shareholders of Pollen Street Capital Holdings Limited ("PSCHL"), who received ordinary shares as consideration for the Company's completed acquisition of PSCHL (the "Combination"), have waived ordinary dividends payable to them in both 2022 and 2023 on approximately 50.0 per cent. of such consideration shares, pursuant to the terms of the Combination. As a result, the interim dividend will be paid on 49,473,264 ordinary shares. Further information is available in the prospectus dated 26 September 2022, which is available on the Company's website. The ex-dividend date is 1 December 2022. |
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