Scotgems Investors - SGEM

Scotgems Investors - SGEM

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Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
Scotgems Plc SGEM London Ordinary Share GB00BYT25542 ORD 1P
  Price Change Price Change % Stock Price Last Trade
0.00 0.0% 78.00 01:00:00
Open Price Low Price High Price Close Price Previous Close
78.00 78.00 78.00 78.00 78.00
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Top Investor Posts

steve3sandal: It’s just too small to be of interest to anyone but retail investors sadly. Not a bad place to hide out IMO but we are probably just waiting for the discount to get so large that the Board have to throw in the towel. It must in time, and one of a few similar opportunities for the patient. Not at all unhappy.
steve3sandal: I don't doubt they are careful stewards but in current markets there is very little interest in small companies in frontier markets. Despite their careful stewardship, NAV is flat after costs, who are the marginal buyers of the Trust and what is the liquidity of their holdings? (rhetorical). Would you agree that if it got to 25% the Board would have to think about doing something. At such a large discount I can't think that buybacks would work, a tender at NAV - 2%, or regular redemption option are sometimes proposed but this is too small to continue on that basis. Regrettable but the pool they are fishing in is not currently interesting investors.
steve3sandal: This just hasn’t worked out, .....yet. Though I suspect it’s one of those that Keynes ? suggested can stay ‘ not worked out ‘ longer than one can stay solvent, or something like that. Great team here, Stewart Ivory who’ve made investors money with Pacific Assets Trust. I hold PAC. On the back of that record I did buy at IPO but they are investing cautiously in a falling market so whilst they’ve done quite well at NAV after charges the discount has killed shareholder returns. I moved on some time ago when I realised. They need to deliver shareholder returns and until they do that the discount will prevail as you say. Too small to do buybacks. I think this might just quietly liquidate in time and regrettably that’s the opportunity I see.
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