Slf Realisation Share Discussion Threads

[2wild] 18/7/2024 07:33

Totally missed yesterday's announcement. Just seen SLFx as my largest % game. Suppose we will get cash return announcement for both classes soon. Also during market hours.

[chucko1] 17/7/2024 14:19

I bought more, but could have got them cheaper if I had not been likewise distracted.

Even at 4p it's an OK buy (I got them around 3.5p) but 3.1p was there for the swifter of foot.

[cousinit] 17/7/2024 14:12

Agree.

Although seems to be 4p on the offer now.

Was out and about at the wrong time! Clearly being on an errand buying plants should be outside market hours...

Had been nibbling away at both share classes outside of my ISAs given the likely delisting.

[chucko1] 17/7/2024 14:04

At 3.5p (to buy) if they repay 3p capital in a month, then the ex value of the share is 0.5p, but still with about 2p of NAV (albeit it in three loans, of which one dominates). 75% discount, but with the risk of de-listing and higher costs. But at a fraction of the capital at risk, as 100% of the prior carrying value (3pps) gets repaid.

Just added more!!

[chucko1] 17/7/2024 13:51

Just landed!! Share is now very, very cheap again.

Paid full amount.

[spectoacc] 27/6/2024 06:41

Perhaps waiting for it to land.

[chucko1] 26/6/2024 17:59

A loss of only 0.05pps. Given the discount on the Ords, a non-event so far as the share is concerned.

Still all quiet on the helicopter front.

[spectoacc] 26/6/2024 15:31

Not such a rosy one for the Ords:

"The Board of the Company announce that within the Ordinary Share Class portfolio, Borrower 23* has settled their facility. The position repaid a negotiated £96,700. It had a carrying value of £258,000 as at 31 March 2024. No Income was received from the Borrower between quarter end and the settlement date, the difference in value represents a loss."

[scburbs] 01/4/2024 17:12

Assuming the helicopter in the C class refi’s then both classes will probably make a further return of capital prior to delisting. The ords must have c. 1.5p per share in cash so well below 0.5p seems unlikely (other than ex- a further return of capital).

[wilwak] 28/3/2024 12:32

I agree. A total punt.

Prior to delisting I can see the shares collapsing to well below 0.5p.

Could be worth a dabble depending what’s happened in the meantime.

Very few investors want to be stuck with a delisted share.

[cousinit] 21/3/2024 18:42

I suspect it will be a punt as both share classes at that point will be predominantly a single loan exposure

[wilwak] 21/3/2024 18:32

The big problem here is that if they delist they can’t be held in an ISA so holders in ISA’s may be forced to sell to keep the value within an isa.

Anybody fancying a punt on this should look to buy in the days leading up to the delisting when the share price is likely to plummet.

Depending how low they go I could be tempted.

[cousinit] 21/3/2024 17:04

Sounds like a last capital repayment as a listed structure once the refinances of the helicopter loan completes for the Xs and one of the small AD plants for the ords, with the residual being worked out in one way or another over the next 18 months

[cousinit] 13/2/2024 09:35

I was thinking exactly the same!

The other question is, who has been paying up for shares since that? Sold a chunk yesterday at a similar price to the one he managed to get.

If someone thinks they know more than one of the Board? Well, after the mess this has been maybe that's a silly question...

[steve36] 13/2/2024 09:29

How could a director sell 170,000 shares on 8th Feb when the company made an announcement on the 9th re expected downward adjustment to nav of £4m? Not price sensitive info?

[wilwak] 29/12/2023 12:03

There’s certainly a big buyer of Ords at the moment. Liquidity is amazing. Probably an insider that knows something we don’t?

In the past I’d not even been able to sell 10,000 shares!

I’ve done incredibly well on these shares and have grabbed the opportunity to sell all my 2m shares at 2.4p this morning. So I’m done.

Knowing the history of SLFR there could be a big surprise coming for shareholders either one way or the other. They still have the AD assets that could be sold as a block to another fund or investor. They could give a bumper return.

I hope it’s a profitable ride ahead for remaining investors.

Feeling a little relieved to obtain a total exit. No regrets on this one.

[chucko1] 20/12/2023 17:22

2wild, that's about the size of it! However, as the number of credits diminishes, the risk increases and that helps to explain (if anything ever really does) the increasing value in the shares. Yes, 33% discount on the realisation at the same time as a 50-60% discount on the share price is always a good thing, but seldom shows up immediately.

[2wild] 20/12/2023 12:39

Last Thursday following Ex return sold 35,000 and received 1,185.94 after costs. This morning purchased 50,000 with two traits at 2.02p, paying £1,018 after commission.

Another realisation announced today receiving 800,000, 33% discount to book. As SLFR was trading on around 60% discount yesterday, this is actually positive news. The Madness continues.

[cousinit] 14/12/2023 08:29

Yup. Did similar but didn't quite get your 3.4p this time

[2wild] 14/12/2023 08:25

Aren't they supposed to be ex return? Sold thirty five thousand with 2 trades at 3.411p.

[cousinit] 12/12/2023 11:53

There's clearly a wide range still on the outcome (and that's pretty binary) so I definitely 'hear' you Chucko, just don't have much exposure left with recent sales and the capital repayments (across both classes and with 1.5p more underwritten).

Maybe I'm placing too much weight on the buyer being rational!

[chucko1] 12/12/2023 11:17

Personally, I think a price on the Ords of 3.5p and higher is really good (to sell).

[cousinit] 12/12/2023 10:52

I don't really have any intention of letting more ords go but may have to relent if the current active buyer continues,,,

[2wild] 08/12/2023 16:04

Yes used voice input on my phone. And very happy with those trays. Maybe it will take a couple of months to drift down to 1.5p.