Share Name Share Symbol Market Type Share ISIN Share Description
SQN Asset Finance Income Fund LSE:SQN London Ordinary Share GG00BN56JF17 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.125p +0.13% 98.125p 97.75p 98.50p 98.00p 98.00p 98.00p 4,375,176 16:35:11
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 17.7 -2.5 6.6 14.8 175.63

SQN Share Discussion Threads

Showing 51 to 74 of 75 messages
Chat Pages: 3  2  1
@Makinbuks - I was surprised to read how far the parent co had fallen - makes me wonder about the guarantee. And the anti-trust seems to rely on Trump - never a good place to be! The other worry is what the rest of SQN's loan book looks like.. I'd be a buyer around 92p mind.
Getting closer to NAV, but can't help feeling this & similar should be trading on discounts - we're in boom times, what will happen in a recession? And not forgetting the NAV is umimpaired - no write-down taken on solar fiasco (which may yet turn out OK of course).
Agreed, can't see it as a long above NAV when there's SSIF instead. Also wondering how any of these will fare in a downturn - none been around long enough to have been tested.
Don't know why it bounced but it didn't last. I'm still waiting for it to dip below the NAV
Any reason for today's decent-volume bounce? Tipped, or something on solar?
Have a look at SSIF, same manager but trading at a small discount
I see my inverse Midas touch again, oh well I'll hold
joy division still
This share gone all volatile after last weeks news - happy to have sold at 110+ - going to be curious where it bottoms
No problem. Incidentally, SQN still trading on a decent premium even to unimpaired NAV (of c.99p). It's a curious market where income valued so highly - can think of several in similar boat, some I hold but most I just can't buy at the premium once they've sailed. Eg: SLI JLEN All the infrastructure ITs - INPP, HICL etc BSIF SMIF And plenty more. SQN far from alone - but still.
Thanks. Sorry not to have spotted that before I posted. Apologies for wasting your time!
Yes - see RNS of 19th, solar cell manufacturer they lent to is in trouble. Interestingly, they've decided not to impair the NAV.
Has anyone any idea why the price has fallen heavily in the last couple of day?
A little concerned that there has been no update on deployment of thee latest C raise, admitted on 12.12.16. The previous year's C raise was admitted on 9.11.15, followed by the first dividend announcement on 22.2.16. Comparing timescales, we're lagging by over a month.
@8w - nearly 4 months into the year I guess, so they must have lent more - or does it include the extra they're putting in? Either way - I've never understood why SQN trades at such a premium to NAV (& continues to do so). Fortunately it's now at a decent size, so matters less if the market has lost its appetite for more C-share issues.
I bailed out once the price started to drop - it doesn't cost much to get back in and who knows where it will bottom as sentiment could be hit for a while
Solar Manufacturing lines quoted at £21.3m. 4.01% of portfolio on latest factsheet (31/12/16). How does that square with figures in RNS (£24.1m.)6.8% of assets ? Time to cut and run ?
Interesting rns. I expect the share price to fall a lot more especially as the next NAV should be lower. Yep the company can keep the divi going but this company just looks too good to be true, something just doesn't smell right.
Several things interest me greatly about the RNS below: 1. The complications of recovering so-called "secured" monies 2. The timescales 3. That we're not even in a recession - and interest rates are at historic lows 4. That NAV of 99p (& arguably now lower) is still resulting in an share price of £1.12 5. That SQN is a decent player with a long record - wonder how the many other similar co's will fare if/when recession strikes, as it always does eventually. 6. Whether premiums - in some cases, big premiums - are justified for concentrated bank-like stocks 7. Whether the sector should enjoy such easy financing/fundraising RNS Number : 7131C SQN Asset Finance Income Fund Ltd 19 April 2017 This announcement contains inside information 19 April 2017 SQN Asset Finance Income Fund Limited Portfolio Update SQN Asset Finance Income Fund Limited (the "Company" or "SQN"), the leading diversified equipment leasing fund listed in the UK provides the following portfolio update. In August 2015, SQN agreed a 5 year financing arrangement with a US solar cell manufacturing company that was secured against its manufacturing and production equipment and supported by a parental guarantee from a public company. In the NAV as at 28 February 2017, being the last published NAV, the amount outstanding to the Company was $29.9m (GBP24.1m), which represents approximately 6.8 per cent. of the net assets of the ordinary share class. At the time of the investment, the manufacturer had been producing and selling solar cells at attractive price levels and was positioned to improve its margins even in an environment of predictably decreasing sale prices. However, there has been a rapid decline in the market price for solar cells driven by imports flooding the US markets in contravention of established international trade agreements and in circumvention of tariffs put in place to protect the US solar industry. The scheduled payment on this investment due to the Company on 31 March 2017 has not been made and SQN was recently notified that, as a result of the impact of the falling solar cell prices and a temporary increase in the cost of production, the manufacturer has suspended production while it seeks redress from the United States International Trade Commission under the Trade Act of 1974, Import Relief for Domestic Industries (the "US Trade Act"). A resolution has been put forward to SQN, pursuant to which, a petition would be made under Section 201 of the US Trade Act which would provide specific relief for a period of four years which, if granted, would enable the investee business to return to trading profitably and make it an attractive acquisition target. In such a scenario, it is expected that SQN would make a full recovery of its principal plus all current and future interest, as well as have an interest in the on-going enterprise. The Company has reached an agreement with the manufacturer to enter into protective bankruptcy under Chapter 11 of the United States Bankruptcy Code in which SQN will provide an agreed amount of additional financing to the manufacturer under a 'debtor-in-possession' motion and have oversight of the manufacturer while the trade case is being pursued. There is a prescribed timeframe for action under a Section 201 petition which dictates that a resolution should be reached by the end of 2017. At the same time, the Company has made demand for payment under the guarantee from the parent company of the manufacturer. While there can be no certainty that a favourable decision on the trade case will be reached, the Manager, the Company, the manufacturer, its advisors, its counsel, and certain members of the US government in relevant trade capacities all believe that there is a legitimate case and, as such, the Company believes this presents a more attractive option to pursue than seeking to enforce its security at this time. If a favourable decision is not reached, the Company could experience a principal loss in the event that the amount recovered through the parental guarantee and the proceeds received from the sale of the equipment are less than the outstanding exposure. The Manager and the Board will continue to monitor the situation closely and review the need for any impairment as the trade case progresses. It is expected that the Company will not receive income from this investment, which is exclusively part of the ordinary shares portfolio, for 9 to 12 months as this matter is resolved. However, in the absence of unforeseen circumstances, the Company should have sufficient excess income from other investments in the ordinary shares portfolio to maintain its dividend at the current level.
Joined the party here - somewhere to park my cash from some high risk assets sold this week...... i'll wait here ready for the crash / realisation Trump's a bloody political idiot. And if it doesn't happen, i'm Very happy with yield.
joy division still
New shares begin trading today. Sqnx is ticker.
Looking back through the data on ShareScope I reckon that from the issue of the C shares in November 2015 till when they converted to SQN the C shares outperformed SQN by 2%. They didn’t receive all the income that SQN received but this was more than compensated for by them acquiring their premium to NAV. I intend to apply for more than my entitlement of C shares, however I only became a shareholder a few months ago so I wasn’t around for the last issue of C shares. I would be grateful if anybody can remember what sort of scaling back was applied to the Excess Application Facility and the Offer for Subscription back in the last fundraising in November 2015.
Latest C Share Issue: 150M C shares at 100p each (option for 180M). We have an open offer on basis of 1 C share for every 4 ordinary shares.
Just been going through the latest set of accounts and come up with this bit of news. " In light of the Group's consistent performance and healthy pipeline coupled with strong investor demand recently pushing the share price to an all-time high, I am pleased to say that your Board anticipates raising additional capital before the end of 2016." So it looks like we will either get a rights issue or the issuing of new shares like the C Share issue. KT.
Still not recieved either. I have another stock that was due to pay out yesterday which i hold with Barclays and AJ Bell.It was payed into the latter on time.Still waiting for Barclays. Generally happy with Barclays but have had dividend issues in the past with them. Makes a mockery of the monthly payment though. Ps did i really put a D in pigeon?
Chat Pages: 3  2  1
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