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Name Symbol Market Type
Raven Prop P LSE:RAVP London Preference Share
  Price Change % Change Price Bid Price Offer Price High Price Low Price Open Price Traded Last Trade
  0.00 0.0% 116.50 115.00 118.00 116.50 116.50 116.50 232,900 08:00:00

Raven Prop P Discussion Threads

Showing 1151 to 1174 of 1425 messages
Chat Pages: 57  56  55  54  53  52  51  50  49  48  47  46  Older
DateSubjectAuthorDiscuss
26/1/2021
18:45
Think that redemption possibility was removed when the convertibles were re-designated?
tradertrev
26/1/2021
17:10
Are you talking about article 2.7?
stemis
26/1/2021
16:36
Quilter were previously Old Mutual Wealth Management. Spun out of Old Mutual to create additional shareholder value.
cc2014
26/1/2021
16:22
Worth noting that in the event the directors take the company private (and this looks like a possible first step) or any takeover, the articles allow a forced redemption of prefs at £1.
2akop
26/1/2021
15:29
Invesco will be abel to spin it as a decent investment. Lots of years of 12% yield more than make up for 9.2p capital loss. They just want to move on from anything Woodford.
igbertsponk
26/1/2021
15:19
Thinking about it - and accepting that Invesco give ineptness a bad name - who in their right mind would sell a 12% pref, par £1, at 90.8p? Have things got so bad? Even Barnett's replacement would surely just tuck it at the back of the portfolio, earning 13% pa.
spectoacc
26/1/2021
15:15
Invesco seem to be the new Standard Life of the investment management world from what I've seen, not something to wish upon you worst enemies!. That Quilter seem to be new on the block, but I'm very sceptical.
my retirement fund
26/1/2021
14:45
to say nothing of their shareholders
zangdook
26/1/2021
14:42
The lowest buy quote I got was 101.6.
zangdook
26/1/2021
14:21
Indeed Monty. Although I'm not sure if you are aware but all those sells at 102p were buys. I loaded up today and trust I can now spend less time at my screen and collect the dividends until I die. Of course if the share price returns to 150p now the big seller is out the way I will have a different decision to make ;-)
cc2014
26/1/2021
13:46
That was a gift from the stockmarket gods 103 to buy.
montyhedge
26/1/2021
13:43
Almost certainly. There was also a large seller in the Ordinaries. Which was not Invesco, we now know.
gfrae
26/1/2021
13:24
It's a problem. But the biggest problem is Invesco who time and time again dump their entire holdings in one lump at 15% below the prevailing price, the prevailing price already having been bashed down due to leaks as Kenny points out. I don't think there is any other fund who acts so often in this way and Invesco is on my list of funds not to invest in unless the discount to NAV is absolutely crazy low. This is course is the fall-out of the Barnett/Woodford fiasco where they both had aligned holdings, both individually with percentage holdings way too high to make sense as any exit would have to be at a significant discount as shown here. To the best of my knowledge this RAV transaction finishes off the Barnett mess and kind of cuts the ties with the old so they can move on. I suspect they care little about the price and just want to move on but my memory is long and as I said they are now on my list of fund managers to avoid. I struggle to understand why they did not sell some in the market because it was clearly telegraphed they were a seller. Without the Invesco/Woodford mess the share price would not of course have fallen to 115p, never mind 110p or today's 101p, so whether or not we are outraged we have all had the chance to buy at prices we would not otherwise have seen. Not the best price of course, regrettably. The question is now what the share price will revert to and whether at 109p RAVP is still a screaming buy. Nothing much has changed from yesterday except Invesco are out the way. It's the same company with the same revenues etc. You've got to hand it to the directors. As an investorI hope they are good at screwing over their customers and suppliers as they have been at screwing over Woodford and Invesco.
cc2014
26/1/2021
13:22
I would guess that the recent persistent seller is on the placing list. Quietly sell from 120p down to 107p, exerting downward pressure on the ultimate placing price, and pick up what you need in the placing. Am i too cynical?
flyfisher
26/1/2021
13:05
Not quite. You own 100 of something, you've just been offered 50 at a big discount. You sell 50 of the original 100, still own 100, only now at a lower average and with the profit in the bank. Of course, they might all be long term holders... but 90.8p suggests demand wasn't that massive.
spectoacc
26/1/2021
13:01
Why? Becasue if you own 100 of something then selling 2 to make a small profit may hit the value of the other 98.
igbertsponk
26/1/2021
12:59
Not wanting to put the cat amongst the pigeons, but it's likely the placees can't sell down their original holdings to tail-swallow until the deal is voted through. So the selling pressure on both Ords and Prefs is still to come (& why wouldn't you take an instant c.15p profit on the prefs if you could).
spectoacc
26/1/2021
12:50
I think that what the company is doing is legal because there is no obligation to offer placing shares to private shareholders. This is not to say that I don't like it. What is illegal is that someone seems to have known about the discussions and was selling down RAVP at prices from 123p to 107p over the last few months. Such dealing on insider information is seldom investigated and is difficult to prove.
kenny
26/1/2021
12:46
good point re legality of this. RAV is a guernsey company also how can Quilter (as well as others shareholders representing 15.8%) be ok with this?Don't you just love all these institutional shareholders stating that they are responsible investors, ethical, etc etc but then more than happy to create an unlevelled playing field for shareholders. hxxps://www.quilterinvestors.com/siteassets/documents/policies/18376-qi-uk-stewardship-code.pdf Paragraph about Shareholders working collectivelyhttps://images.advfn.com/imagesnew/2/gb/nl/postreply.gif hxxps://www.quilterinvestors.com/siteassets/documents/policies/quilter-responsible-investment.pdf
yieldsearch
26/1/2021
12:40
Good to see the Ords bounced too.
igbertsponk
26/1/2021
12:38
Yes, we used to rely on Invesco to look after the Pref interests. Now they've gone the baton passed to Quilter.
igbertsponk
26/1/2021
12:35
MRF, Company cannot force a redemption, 75% of shareholders have to vote for it and with Quilter now owning well over 30% I would say that there is no chance of that happening.
gary1966
26/1/2021
12:32
So know we know why the shareprice is in the toilet. It seems the price for this shady deal is to give tens of millions of pounds worth of preference shares to a few special ones at 90p who can then spend the next 5 years or so selling them back to us at a 30% markup and collecting the dividend whilst they do it, almost guaranteeing the shareprice will be in the toilet for christ knows how long. So what's next after the convetable fiasco? A complete buy out of the company privately and a forced below par redemption ?
my retirement fund
26/1/2021
12:28
Reading again the 2nd announcement. I guess that the yield on the Prefs acquired by the JV will more than cover the financing costs to VTB (Russian bank). Assume that the plan would be to use the Pref divis to gradually pay off that loan and then probably collapse the JV with both the company and the Directors taking what is left. So a long term deal I expect.
igbertsponk
Chat Pages: 57  56  55  54  53  52  51  50  49  48  47  46  Older
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