Schroder Uk Public Private Share Discussion Threads

[scrapheap] 14/1/2021 10:07

Or the positive take is they've got a 2 year agreement not just a 1 year one and maybe that was because of the Kymab news.

[oiltakeyouhomeagaincaitlin] 14/1/2021 10:00

It's amazing how hysterical the hapless spectoacc has become now that he has been proven to be so comprehensively wrong about SUPP. We all knew that, of course, apart from jonwig. He is posting once a minute and seems to be on both sides of every SUPP trade.

Integrity was never his strength.

So far from specto's 0p-20p eh?

[spectoacc] 14/1/2021 09:34

Hmm. The other negative would be that it's taken until the day before the previous OD ran out to agree the new one. Northern Trust had them over a barrel I guess, but you'd think the Kymab news would have helped more.

[18bt] 14/1/2021 09:29

LIBOR being phased out,so that makes sense as the alternatives haven't really yet got traction.

[spectoacc] 14/1/2021 09:21

Good point, but base rate slightly preferable to LIBOR, and extension to two years, but will cost them slightly more.

[cc2014] 14/1/2021 09:06

Was LIBOR +1.5% last time.

[spectoacc] 14/1/2021 08:54

OD slightly better, 24 months not 1 year. Will revert to £60m RCF this half year, when they use the Kymab proceeds:


"Extension of Credit Facility

The Board of Schroder UK Public Private Trust plc (LSE:SUPP) is pleased to announce that it has agreed to an amendment to its existing credit facility (the "Facility") to extend the term for 24 months to 30 January 2023.

The commitment under the Facility has been reduced to £107.03 million, in-line with the amount currently drawn under the Facility and consistent with the Company's intention to reduce borrowings. The annual interest rate will be the Bank of England Bank Rate + 2.00 per cent. The Facility will convert to a revolving credit facility with a size of £60 million once the loan balance reaches a £60 million outstanding balance. "

[petethepict] 14/1/2021 08:42

All of specto's bad-breath 'certainties' (and jonwig's) about SUPP are crumbling into dust, aren't they.

Ole speccy didn't know anything at all about KY-mab did he? He thought it was a lubricant for his willy on his morning spaff, (usually in the Tesco toilet, LOL)!

So far from 0p-20p eh?

[solonic] 13/1/2021 22:43

People have not twigged that the Woodford regime finished long ago. SUPP is being run by a completely different bunch of people who seem already to be gaining a lot of traction.

[dr biotech] 13/1/2021 15:33

Fwiw I was at Oxford Nanopore recently and whilst I am only a “lab visitor” it was really busy there compared to my previous visits. Can’t always get the whole picture but I’d be buying if they were openly quoted

Nice to see some of the portfolio getting a boost for those unfortunates who got locked in/deceived by Woodford.

[trollwatch] 13/1/2021 15:08

Hmm. Looks like SUPP is having a little bit of a breakout!

Spectoacc must be sick as a dog. He's been trolling SUPP repeatedly nearly every day for two years. He's been repetitively predicting that SUPP would be in the range 0p- 20p for all that time. (It's never been in that range.) jonwig must be feeling very queasy, too, because he has protected spectoacc repeatedly by banning anybody who pointed out spectoacc's stupidity and lying. He also personally dishonestly and impotently trolled this trust.

It's all very Trumpish isn't it?

[scrapheap] 12/1/2021 22:03

Big buy of circa 2m at well above market price reported late

[skyship] 12/1/2021 14:00

Specto - thnx for that - good and interesting response.

[spectoacc] 12/1/2021 13:53

@Sky - I'm cynical of SUPP, as I was of WPCT, which I called from above 80p to below 20p (where it went in March).

SUPP is a mish-mash of mainly legacy cr*p, which is now paying some young guns from Schroders to run it (at least Neil was free - ish).

But the existential threat of the OD getting called in in a year's time should be gone with the Kymab deal. What's the rest worth? Not Link's NAV, you'd only need to look at eg IH still being in.

But in some ways, what it's worth doesn't matter, if there's people buying and some tosher tipping it.

If it's going up - I believe it is - happy to be long, regardless of the underlying.

(ON, the one really good one, should hopefully float this year. I'll be out in the spike ahead of it).

Bear points - SUPP is only really ON, RUTH, and ATOM. Benevolent a further 8%. Everything else is small (Kymab proceeds will mostly go against OD). And whilst ON is good, RUTH needs money & isn't investable IMO; ATOM needs £100m this qtr, which I'm sure it'll get, but not without dilution to SUPP. Benevolent is at least supported by Temasek, albeit at half the original SUPP valuation.

Repeating myself, but SUPP is cr*p that I want to be long of when I believe it's going up.

You'll also know I'm a realist if not outright cynical on most of what I hold ;)

[skyship] 12/1/2021 13:44

Specto - on this occasion rather confused by your posts as you keep seeking bearish interpretations; but keep buying! Are you doing so on purely VALUE grounds?

If so, I agree. I bought on the back of the MW coverage; then added on the RNS. I also take comfort from a bullish chart which suggests life hereon in the 30s:


free stock charts from uk.advfn.com

[oiltakeyouhomeagaincaitlin] 12/1/2021 08:31

Well said, pete. Stick it up 'em. It might cure their 'old-man-in-a-den' halitosis. Farting away all day.

[spectoacc] 11/1/2021 13:01

Ah not so simple. Yes, +5p Kymab in H1, but to NAV, not to s/p. So 3/4rs of it, which coincidentally is about what it's up.

But then consider the OD halving, & it gets more interesting.

They still need ON in 2021, agreed.

[18bt] 11/1/2021 12:18

909m shares in issue. So initial uplift would appear to be: £65m-£18m = £47m = 5.2p /share

[chucko1] 11/1/2021 12:13

Yes, first big success in 6 years or so and worth around 5p on the NAV. Don't fool yourself - they need another one in a lot less than 6 years!

The fact that the share price has risen less than 5p suggests a continuing tough journey. The one home run so far only serves to reduce debt by around a half (or less, given they need to inject funds into other investee cos) - they still need to pay off the other half.

You are better off with alternatives, although a step in the right direction.

[spectoacc] 11/1/2021 12:09

Agreed, all about removing the existential threat from the OD, due to be rolled in 4 days I believe, but was surely going to be at risk a year from now.

They'll only get the money "H1 2021" but I read it as £65m, £5m more over 24 months but not guaranteed, and £20m over 7 years depending on milestones. So £65m, really.

Kymab was a 3% holding but I don't think that can include what they bought from WEIF. Hence they'll be going from £18m NAV value to something over £65m. If they're lucky, about +9%, less currency move since last NAV, less £10m devaluation on Ombus, less as you say one or two others - ATOM, RUTH may both slip to subsequent qtr.

So net up a few p, but OD going to be halved is the key thing. And ON still to come this year.

[scrapheap] 11/1/2021 12:03

Any guess what this uplift is worth to the NAV in per share? Probably will allow them to write down some more of the duffers against this gain BUT the liquidity injection is the key short term win in my book...

[spectoacc] 11/1/2021 11:54

Agreed, can't think they've had any successes at all since April 2015 start. That's pretty "patient" :)

OSI was a good co - they sold out when things started to get rocky at WPCT.

ALM and PURP both 10-baggers, before falling 95%. Sold & no longer held.

First genuine success, and ironically it's happened for SUPP in part because they got hold of the former-WEIF stake (I assume) at a price they couldn't refuse! Almost couldn't make that up :) Has turned Kymab success from a few tens of millions for SUPP, into something OD-altering.

Still bearish on SUPP's prospects (since the majority of the holdings won't have a Kymab outcome), but happy to be long for the bounce. Wondering if CLIG may be selling into it.

[scrapheap] 11/1/2021 11:45

Fantastic news - proper liquidity injection, confidence builder and able to pay down the OD too by a big chunk.

£65m is the initial proceeds might well be a good few £m more to come too.

First proper 'win' for SUPP that I can think of since launch...