Scotgems Share Discussion Threads

[essentialinvestor] 25/7/2022 13:54

Spec, fair comment.

[spectoacc] 25/7/2022 13:52

"Since 13 July 2022 the investment manager has continued to realise the Company's portfolio, and has now realised approximately 83% of the Company's portfolio. The majority of the proceeds of these sales are being held in Sterling. The timing of the realisation of the remainder of the Company's portfolio will be dependent upon prevailing market conditions."


Surprised it's 83% in cash now - they've been reporting a consistent c.3p/share income NAV differential, which made me think they were waiting for a bounce to sell into.

Still - if there's something to be got wrong, SGEM will do it.

Rather than hold it in Sterling, they should be expediting it back to shareholders.

[chrisdgb] 08/7/2022 09:53

Anyone have any experience of the likely costs in a trust wind up..?

[spectoacc] 08/7/2022 08:52

Up on little trade, with 100k sat at 74.5p on the OB. Not a lot in it at 79p offer (86p last NAV, less wind-up costs).

[chrisdgb] 07/7/2022 09:27

Hopefully a bit of stability in the markets will help the NAV in the liquidation phase.....

[spectoacc] 01/7/2022 12:46

I contacted them yesterday after posting above, I'd like to think it gave them a nudge to RNS, but in truth they give absolutely not one sh*t about small shareholders.

But don't worry, they've been consulting the major shareholders.

[chrisdgb] 01/7/2022 12:12

Liquidation.............

[spectoacc] 30/6/2022 15:26

"A further update will be provided in the next few weeks."


12th of May. Tomorrow is July.

Unbelievable.

We're paying their wages.

[spectoacc] 16/6/2022 09:05

Peel Hunt via Citywire:

"While the board has not given its official recommendation, Peel Hunt notes that up to about 19% of ScotGems shares are held by value investors and a further 20% roughly by Stewart Investors insiders ‘who would have little incentive to vote in favour of continuation.’"


Might add all the ones held by ADVFN'ers who can't wait to vote against continuation.

But farcical how it's taking so long - markets hardly helping us in the meantime. Keeping the fees rolling in a while longer?

[chrisdgb] 16/6/2022 09:02

Tum te tum..............

[spectoacc] 30/5/2022 13:02

" Accordingly, it will shortly convene a general meeting to consider an ordinary resolution on whether the Company should continue. The Board intends to continue consulting with shareholders and will give its recommendation on the future of the Company prior to the continuation vote. The Board has been considering all options for the future of the Company, including a straightforward winding up.

A further update will be provided in the next few weeks."


That was 18 days ago - whilst "..Shortly.." is vague, "..Next few weeks" means now-ish IMO. With the Jubilee holidays, they've got tomorrow & Weds.

[spectoacc] 26/5/2022 18:43

NAV been drifting down a little - would hope they'd be cautious with existing holdings, knowing they might/should be realising them all pretty soon.

[chrisdgb] 24/5/2022 13:34

Wonder how long now..........?

[spectoacc] 13/5/2022 10:12

The manager holdings are going to be influential - we need the other large shareholders to want out, and surely, after the Russian investment, they will.

Compared to eg the winding-up JEFI, there's decent upside in SGEM if the vote goes the way it should.

[chrisdgb] 13/5/2022 10:10

On the home straight.......

[spectoacc] 12/5/2022 13:09

Finally - I know which way I'll be voting.

The Board never did respond to messages, and this is presumably why.

Added more after the announcement.

[chrisdgb] 12/5/2022 12:40

Cheers, good timing.......

[epistrophy] 12/5/2022 12:23

Looks increasingly likely - see today's update.

[chrisdgb] 12/5/2022 11:45

NAV cash back please........or someone buy it

[chrisdgb] 29/4/2022 10:53

You would hope they are going to say something sensible at the AGM.......

[epistrophy] 26/4/2022 18:32

Agree, the problem is the pound is dropping almost as fast as the US markets at the moment!

[spectoacc] 26/4/2022 16:21

Got to think markets are due a correction - no shortages of excuses for one.

[essentialinvestor] 26/4/2022 15:57

Spec, thanks, appreciated.


I'm hoping we may see some wider market weakness as I have been far too cautiously
positioned over the last month. It's been a frustrating few weeks, hopefully
some opportunities thrown up IF some volatility continues.