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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Sherborne Investors (guernsey) C Limited | SIGC | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -0.10 | -0.21% | 47.90 | 16:35:09 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 47.90 | 48.00 |
| Industry Sector |
|---|
| EQUITY INVESTMENT INSTRUMENTS |
| Top Posts |
|---|
Posted at 04/7/2023 12:31 by extrader SIGC is the largest shareholder @ 23.1% per stocko, so it might need to await some corporate activity...or evidence of 'turnaround/re-invenIf anyone is in a position to bring either of those about, it'll be Yowan , newly-appointed Pres and CEO, who I believe is Bramson's man. Most of the assets are ex SallieMae, AIUI, so should be Govt-guaranteed, no? As you say, NAVI is the administrator. Discl.: as a learning process, I'm gradually building up my exposure to US stocks and the US market, but prefer to do this via a UK vehicle and following a successful US investor. I'm not particularly wedded to NAVI, per se. |
Posted at 15/6/2023 15:20 by extrader Although Bramson made a loss on his BARC tilt, he appears to have been successful elsewhere :.."In a letter to investors on Friday, Sherborne said it was taking advantage of the rise in Barclays’ share price to exit its position, having seen the stock rise to more than 180p from 73p a year earlier. However, the share price is currently 15% lower than when the fund’s position became public. Sherborne Investors told investors it had joined the boards of five other companies since taking a stake in Barclays, and launched “successful turnarounds at all of them”. It said: “Each of these investments returned 100% or more , so it is a pity that the opportunity did not arise to join the board of Barclays to assist in a turnaround with a similar result." Let's see what happens with NAVI. |
Posted at 15/6/2023 14:58 by extrader As I understand it, NAVI had a standstill agreement with Bramson, he/SIGC being its largest shareholder, that prevented a Bramson concert party from going over 20%.hxxps://delawarebusi Per the article, that expired at the recent AGM (Q? either May 25 or June 1st, stockopedia isn't clear). Separately, David Yowan (believed to be Bramson's man-or, at least- 'a man Bramson can do business with') was appointed Pres and CEO on 15th May 2023. He's been a NED on NAVI for abt 5 years. Yowan appointment was based, inter alia - per the press release - on his "proven track record in transformational change.." His predecessor, Remondi, "according to a U.S. SEC filing, was terminated without cause, meaning that he was laid off but not because of any misconduct." See hxxps://delawarebusi Meanwhile, over at SIGC, they issued an atypical RNS on 18th May 2023 that says : .."The board of Sherborne Investors (Guernsey) C Limited (the “Company” I read the italicised bit as SIGC may be expecting some kind of corporate activity or rerating that warrants exiting the investment; and the bold bit that, in either case, SIGC will in due course be wound up and proceeds returned to shareholders ie the discount will pull to par. Activist Bramson didn't get his way at BARC, but maybe he has at NAVI ? All IMO, AFAICS, NAI, DYOR etc etc. |
Posted at 06/4/2023 15:34 by danny500 yes fair point but original investors well under water here and when there has been so many good opportunities out there. I dont see this progressing at all and nobody least of all management has tried to convince me. Im only here last couple of years so a wind up and return of cash would be welcome and walk away in front. This fund is down 100's of millions, need to call it a day |
Posted at 22/8/2022 16:36 by makinbuks Comment on Citywire today, much as this board has been saying:Activist fund Sherborne Investors (Guernsey) C (SIGC) only holds one underlying stock – US student loan company Navient Corporation – but this comes via a stake in a limited partnership vehicle run by an affiliate of its investment manager. SIGC’s shares trade on a 34.5% discount to the last published net asset value (NAV), which has probably risen since. Investors may be becoming a little impatient for results, given they are sitting on a 50% loss after five years while the manager has been raking in substantial fees. Edward Bramson, a partner in Sherborne Investors, has made it onto Navient’s board. However, there is no clarity over what happens next. |
Posted at 26/1/2022 19:38 by danny500 The new target company having a bad few days, missing its earnings target. There must be some large shareholders here not to pleased, watching their money shrink when there’s been so many opportunities.As a small investor here I look forward to their cunning plan we certainly deserve their thinking behind this. |
Posted at 20/12/2021 14:44 by riverman77 After the best part of a year we finally have the target. Never heard of the company, which is based in the US and NASDAQ listed. Would have been helpful if they'd given a brief overview and rationale,but as investor unfriendly as ever. Will have to take a look myself when I get time. |
Posted at 23/8/2021 08:16 by makinbuks Thanks Danny, I read the article I think you refer to in the business section. Mainly a report of the RNS but with a human angle thrown in of the 71 year old active investor. Unfortunately no great insights and certainly no hint of what the new target might be or even the sector or size of the company |
Posted at 21/8/2021 17:37 by danny500 Get todays Times, apparently a good article on Sherborne Investors. Haven't read it myself, will try to buy one later if not too late |
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