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 Shares Traded Last Trade
  0.00 0.0% 25.50 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
25.50 28.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 39.70 14.48 4.06 6.3 91
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 25.50 GBX

Sqn Asset Finance Income (SQN) Latest News (2)

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Date Time Title Posts
06/8/202020:17SQN Asset Finance Income Fund - Eqpt Leasing Finance540
19/10/201417:00Great Growth & Income Share-
24/7/201413:22SQN Asset Finance-
07/3/200618:28Squaregain problems?7

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Sqn Asset Finance Income Daily Update: Sqn Asset Finance Income Fund Limited is listed in the Equity Investment Instruments sector of the London Stock Exchange with ticker SQN. The last closing price for Sqn Asset Finance Income was 25.50p.
Sqn Asset Finance Income Fund Limited has a 4 week average price of 0p and a 12 week average price of 0p.
The 1 year high share price is 35.90p while the 1 year low share price is currently 22.90p.
There are currently 356,760,141 shares in issue and the average daily traded volume is 0 shares. The market capitalisation of Sqn Asset Finance Income Fund Limited is £90,973,835.96.
wilwak: 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.
spectoacc: 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.
wilwak: 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!
apollocreed1: 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.
wilwak: I really see value here. Both with the Ords and the C’s. It’s great to see that the ‘new’ manager is happy to publish the May NAV’s consistent with the previous month with no evidence over Covid write down concerns. The C’s are probably safer and steadier but the Ords are for the more adventurous. If the AD plants can be brought online then their NAV valuation and yield could prove very positive over the next couple of years. I still feel from my workings that 50p share price and a 4p annual dividend could be a fair position in the near term. I’d rather be buying these at 50% discount to assets that the overhyped general stock market as a whole which is being propped up by central bank stimulus. I see very little value in the markets at present and am struggling to find anything to buy besides both classes of SQN.
chucko1: So an uplift of 1.30% on the ords and 1.48% on the Cs. They may not be paying a dividend for the moment, but they appear to be keeping it in their bank for you. Safely, I hope. But this is how I see it. 25.4% of the portfolio of the Ords (21.5% for the Cs) are USD and for EUR, the numbers are 11.5% and 9.7% respectively. From April 30th to May 29th, the USD rallied by 2.03% against the GBP and the EUR rallied by 3.38%. This would have the effect of adding 0.90% NAV to the Ords and 0.76% for the Cs. So, the accrual from net income would appear to be 0.40% for the Ords and 0.72% for the Cs. This strikes me as being pretty consistent with the rate of accrual in each case given what we know about the composition and update on the respective portfolios. What is more, these accrual rates are for May 2020 which was not the best of times! So, for the Ords, 0.40% x 12 = 4.80% and so this implies a running rate of about 15% on the current price. For the Cs, the same calculation gives 15.4%. Well, I know which one I would like to be earning 15% on! (both, actually, but the Cs appear really cheap here). The portfolio relating to the Cs has always seemingly been in good shape, but the significant unlocking that is occurring will further help up to 25% of its assets whose cashflows were being impeded (and stopped in a few cases). But the accrual calculation does appear to support the notion that the portfolio is paying its way well, despite present uncertainty. On the Ords, where the portfolio is clearly of greater concern (though overdone in the long run), a further NAV uplift such as this will start tongues wagging. It might indicate the cashflows being received were still significant and with a greater understanding of the extent of Covid-19, could lead to a resumption of dividends. This likely puts 8-10p on the current price, or 30%. And even then, a halving of the dividend leads to a 9% yield. The problem with SQN is that the Ords have had a tough (really tough) last 2 years, but are liquid. The Cs are fine, but the liquidity is pretty poor. Makes it all pretty messy to play around in which helps explain the lack of correlation with the larger market. I think this is a stock (both of them) that will pay well to really understand. Each and every line item in the portfolio. Both in absolute and relative terms. Thoughts??
wilwak: I bought these at 90p, 19p and today quite a lot more at 34p. Hoping that the 31st March NAV of 69p that was audited thoroughLy by KPMG and already during the Covid crisis won’t have fallen too much. Even at 60p NAV the shares look a great buy at 34p. The new manager will be keen to get a dividend going again even if only 3-4p pa to start. I think 50p share price with a 6-8% dividend on that would be the target. The AD assets could prove to be the basis of a NAV uplift going forward once they’re operational.
cc2014: Hi Caternia, I don't own SQN so may be out of date with my information. Long story short but SQN spent cash on margin calls on their FX hedge until such point as they decided the hedge was costing too much so they binned it. After that in order to preserve cash they binned the dividend. I don't think there will be a dividend on SQN for some time. The C's I believe is different.
damp seaweed: I’ve just picked up and copied the article below from Citywire, which apart from trashing my BSIF & JLEN shares has implications for Bio generation. So in summary we have feedstock prices up and wholesale electricity prices down.....a bit of a perfect storm.! ———;——̵2;——R12;— “nvestors in London’s expensive listed renewable energy funds are at a risk of a 43% share price fall and a 33% drop in asset values due to the slide in long-term power forecasts, JPMorgan Cazenove has warned. Strong investor demand for their reliable dividends and environmentally friendliness has pushed shares in London’s six wind and solar power investment companies to an average 16% premium above their underlying net asset values (NAV). But UK investment companies analyst Christopher Brown said the double-digit premiums of companies in the £9bn renewables sector were unsustainable in face of mounting evidence that growth in carbon-free energy would slash the cost of electricity in the next 20-30 years. While that's good news for consumers and the planet, it is bad news for funds generating most of their revenues from selling electricity into the wholesale market, said Brown and fellow analyst Adam Kelly. Using the latest figures from Bloomberg New Energy Finance, an independent forecaster owned by financial media giant Bloomberg, the analysts believed the NAVs of Bluefield Solar Income (BSIF), Foresight Solar (FSFL), Greencoat UK Wind (UKW), JLEN Environmental Assets (JLEN), NextEnergy Solar (NESF) and Renewables Infrastructure Group (TRIG) could drop by a third on average. And because of their elevated share prices – trading at premiums of between 12% and 23% - that could translate into a 43% fall in their stocks, they said.”
andyj: Let us have a look at the scenarios and potential outcomes.1. The AD situation is less serious than feared. Very positive.2. The AD situation removes 13p or more from NAV. The share price declines, stagnates and the continuation vote is lost. The share price moves closer to NAV. Positive. 3. Driven by the need for income, funds back the continuation, buy more and the share price recovers. They win the continuation vote. Very positive. 4. The share price continues to collapse as investors rush for the exit yet they win the continuation vote. Negative. But close to impossible.Thus the continuation vote acts as a safety net in every scenario except a continued decline in NAV. But there is a significant gap to close now. I see an opportunity.
Sqn Asset Finance Income share price data is direct from the London Stock Exchange
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