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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Sqn Asset Finance Income Fund Limited | 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 | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 25.50 | 25.50 | 28.00 | - | 0.00 | 00:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Date | Subject | Author | Discuss |
---|---|---|---|
06/8/2020 19:10 | Started a KKVX There's already a KKVL running: | spectoacc | |
06/8/2020 16:12 | This is becoming an interesting mess. 20p is a low price for a credit portfolio, notwithstanding the serial mishaps (or worse) to befall it (or the Ords, at least). The recent portfolio update might lead you to believe just about anything were possible, but the disparity between the assets under review for the Ords and just the (for now) £4mn on the Cs would seem to rule out fraud. Does anyone care? | chucko1 | |
22/7/2020 15:36 | Iweb allowed me to buy KKVL just now. | apollocreed1 | |
22/7/2020 12:28 | OK with Equiniti, buy or sell, tho wasn't recognised on Day 1 (KKVX). | spectoacc | |
22/7/2020 10:57 | Try ii. No problem there. | lord gnome | |
22/7/2020 10:52 | I’ve tried buying KKVL shares this morning with three brokers including Barclays and IG. None have set it up for purchase yet and are only allowing sales. No wonder the share price is falling. No buyers, only sellers. Crazy. Same goes for KKVX. Can’t buy at all. | wilwak | |
21/7/2020 13:12 | assume the instituations still holdings C's whilst most of the Ord's have been dumped on PI's? | cc2014 | |
21/7/2020 12:48 | Nothing new, tho comes to the conclusion the Ords should have voted for wind-up, the C's for continuation, which surely misses the longer duration in the Ords. Firesale of the Suniva claim, anyone? | spectoacc | |
17/7/2020 14:00 | Name change: "Further to the announcement on 16 July 2020, the Board of SQN Asset Finance Income Fund Limited (the "Company") announces that its change of name to KKV Not All That Secure After All Loan Fund Limited is now effective. The Company's Ordinary Share ticker will change to 'OHFUK' and the C Share ticker will change to 'KKVX' with effect from 8:00am on Monday 20 July 2020. | spectoacc | |
15/7/2020 15:02 | It seems that every day recently someone buys up loads of Ords at 27.9p. They seem to mop up all the days sales. Interesting that a big buy is confident at 27.9p. | wilwak | |
10/7/2020 08:24 | Agreed which us why I put ‘new’ in quotes. They’re not new... more like a fresh start. KPMG did a thorough valuation audit a few months ago and arrived at a NAV of 69p which is reassuring. Yes Covid is certain to have an impact on that. I still feel that there’s plenty of room for profit in the current 26p share price provided the directors aren’t complete crooks! | wilwak | |
09/7/2020 22:56 | Just checked all the investment team members of "KKV" hxxps://kkvim.com/#t 3/4 of them worked at SQN before! whoever calls KKV a 'new' management is totally naive to fall for this scam | george stobbart | |
09/7/2020 20:04 | Not really a new manager in any meaningful sense. Just the same manager (rebranded) reporting on the poor investments they have made. | scburbs | |
09/7/2020 19:12 | It’s customary for ‘new’ managers to writedown hard so that they can claim the credit for any subsequent recovery. I feel KKV would be making very prudent provisions at this stage and the Ords look a promising buy at the current price. The Ords look cheaper than the safer C’s as is to be expected given the risk profiles. Hoping that in 6 months time the ord’s can return to some sort of dividend. Even 2.5p would be 10% at the current price. | wilwak | |
09/7/2020 17:02 | Only extra point to make is around dividends It is possible to envisage the C shares returning to the dividend list less so the ordinaries. In which case a different valuation metric comes into play. | gopher | |
08/7/2020 11:25 | Agree with much of what has been written here. The Cs look fine to me and I would want to extend life by a year before making a decision, impairments are in line with what property cos have reported on Covid-19, shorter duration leases and limited US exposure. Judged on this report then team should be given a vote of confidence The ordinaries ??? | gopher | |
08/7/2020 10:30 | Inclined to disagree for reasons above, but still a fan/holder of the C's. | spectoacc | |
08/7/2020 10:19 | Covid writedown of this scale was to be expected. NAV still 55p+ and accounting guidance is usually very prudent. They were good value at 32p and today’s drop to 26p is a good buying opportunity for those willing to wait. Whether the fund winds up or carries on there’s money to be made at this price. | wilwak | |
08/7/2020 08:47 | there is no such thing a 'new management' KKV employees are the exact same persons running the fund since IPO, but moved from SQN and formed KKV Effectively the whole thing is a scam | george stobbart | |
08/7/2020 08:41 | The ords NAV were impaired by about 9.6% (£24m of £249m market cap) but the share price fell by 27% so I think the fall has been overdone and there is good value at this price. | apollocreed1 | |
08/7/2020 08:26 | @CC2014 - agree with that analysis. The Ords have always been a shocker (Suniva; AD) but the part about being able to meet obligations only thanks to suspending the divi takes the biscuit. Last month - a nice 1%+ rise in NAV across both portfolios This month - oops, 60% of portfolio of Ords is impaired (yes, we knew some of that already, but basically the same manager). C's provision is small - £8-10m - but 30% "stressed or distressed". That's a lot to work through, tho c.98p NAV vs c.56p share price at least. Shorter duration of C's v important, tho they'll also have commitments. Just that they can meet them a little more readily. Will take some persuading not to vote for wind-up on the C's, tho suspect it'll be one year extension and they can take a running jump for the extra 3 years after that. This was meant to be asset-backed lending. Agree that plenty of problems, at least in the Ords, predates Covid (eg Snoozebox). Edit - and just to prove the C's aren't immune, these made me laugh ("Parts have proved to be of limited use" and "reliant on one key memeber of staff...currently unable to work full-time"): " Auto parts manufacturer (FR): Carrying value: £6.4m The facility financed key operational equipment to supply Renault/ PSA with engine parts. However, these parts have proved to be of limited use. There is uncertainty around the ability to recover assets given the domicile and actions are constrained by the French legal system. Debt service has remained unpaid since September 2019.... Energy (UK): Carrying value: £3.4m This power cell hirer to building sites has an uncertain credit outlook as it had already a history of late payment and has been affected by Covid-19. It is also reliant on one key member of staff to facilitate operations and payments, and they are currently unable to work full-time." | spectoacc |
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