Signet Gbl GBP Share Discussion Threads

[skyship] 06/3/2012 15:16

Reduced correlation - yes, that's a good point

[praipus] 06/3/2012 14:33

Ah ok have heard you mention that with regard to emerging markets too sorry to have troubled you:) SA reduces correlation to rest of the market IMHO.

[skyship] 06/3/2012 14:26

Yes - following yr post on WAM. Unfortunately seems to be 100% invested in S. Africa - so not for me; even at a 30% NAV discount.

[praipus] 06/3/2012 14:22

Amazing well predicted Skyship. O/T Have you looked at BLCK?

[skyship] 06/3/2012 14:07

Praipus - thnx for that. No RNS on ADVFN yet; just a strange one re Seven Inv. Management holding

Seems as though they anticipate a pretty rapid liquidation - just over a year. I was working to end Aug'13.

Makes them very good value @ 76p.

Incidentally - the text also reveals that the 3m trade the other day was indeed another BUY by WEISS.

-----------------------------------------------------------


Portfolio Liquidity
As at 31 January 2012, based on the Portfolio and its estimated valuation as at 31 January 2012 and the assumptions set out in the table immediately below, the Investment Manager's current expectation is that investments in the Portfolio could be realised and the proceeds paid to the Company in accordance with the following indicative timetable (which should not be relied upon for any purpose).

By 31 July 2012. 6%
By 31 October 2012 38%
By 31 January 2013 46%
By 30 April 2013 62%
After 30 April 2013 100%

Shareholder % of issued Share capital
Weiss Asset Management 29.96
Brewin Dolphin 17.96
Laxey Partners 11.61
Seven Investment Management 9.08
-------------------------------------------------------

[praipus] 06/3/2012 12:13

SIGNET GLOBAL FIXED INCOME STRATEGIES LIMITED

RECOMMENDED PROPOSALS FOR A MANAGED WINDING DOWN

6 MARCH 2012

[praipus] 29/2/2012 17:59

I wonder. Look at the way the MM worked 100,00 sells then moved the stock in the PM crafty beggers.

[skyship] 29/2/2012 17:54

Another 3m bought @ 76.12p - £ to a p that was WEISS as that would take them up to 29.96%...

[skyship] 28/2/2012 08:53

Looks as though they'll try for 29.9% and then wait for liquidation. Frankly can't see why that should take more than a year to complete. Allowing for a 5% discount to 86p (surely a conservative guess) then the upside from 77.5p = 11%.

By no means dramatic, but surely well worth a 5% asset allocation - which is now what I hold.

Sits well alongside ACD & RECP in the "Defined Returns" corner of my SIPP.

[praipus] 27/2/2012 16:52

Weiss (post_3) buying more SIGG now holding 26.83%

[skyship] 20/2/2012 16:07

A 7.93m top-up! Looks as though Weiss got themselves a bargain there...

[praipus] 20/2/2012 15:27

Weiss buying

[praipus] 18/2/2012 21:53

O/T Yep just a few CW. in part to balance VOD holding. Convs did'nt look attractive for conv arbitrage (i.e. short stock long conv's) so not doing that.

CW. too cheap and big Newton holding VOD takeover would be good news too. If t/o falls through cant see price bombing too far and to some extent hdged by VOD holding.

[badtime] 18/2/2012 00:27

O/t Praps did u do anything on CW...I saw u wer asking about the conv's

[skyship] 17/2/2012 17:42

Also large trades @ 77p. They are matched Buy/Sells of 5.17m. They look like a buyback which if so would increase the NAV from 90.69p to 91.48p - a 0.87% increase. But would they do buybacks at the moment?

[praipus] 17/2/2012 17:22

Well spotted...

"The notice was served by Credit Suisse Client Nominees (UK) Limited, the registered holder of 11,126,384 ordinary shares in the Company (11.6% of the issued share capital) beneficially owned by certain funds managed by Laxey Partners Ltd."

Laxey Partners!

Check out the rest of their holding here:

[badtime] 17/2/2012 16:51

I c Credit Suisse hav put forward there own request for a meeting...hmm

[praipus] 17/2/2012 16:13

have u seen msg on TRMA BB?

[badtime] 17/2/2012 16:04

ye with u there praps....not much on this one personally

[praipus] 17/2/2012 15:40

lol....I think he's addicted...shares anonymous next 12 step process

--------------------------

Seriously though you guys take a careful look at your allocations here Weiss have only allocated between 1.2 and 1.4% or their portfolio.

It might mean nothing but if this doesnt behave for some reason trying to off load a lot more than NMS could be awkward and your ports are going to have a nasty dent..ok if it works out better no problem port's going to look fab...be careful out there. P.

[badtime] 17/2/2012 15:21

praps...sky keeps rest under the floorboards :)

yep sky happy days...musnt get too greedy though..market gets higher i might start hedging a bit

[skyship] 17/2/2012 15:14

I wish - no, seriously though, only 12k as I only had that spare cash in my SIPP!! Annoying, but didn't want to sell anything.

Thnx to you both for the intro here.

These SL & PE companies are doing really well now - popping all over the place. APEF up another 4% and MTH 7% today. Even LMS may at last be gaining traction.

ACD also look to be bouncing off that 80p low.

[praipus] 17/2/2012 11:18

lol Skyships got it all

[badtime] 17/2/2012 11:11

not much stock around?/