St Peter Port Capital Share Discussion Threads

[spectoacc] 09/11/2017 09:30

And retaining enough cash to make sure they still get paid. And no takeover. And NAV shrunk yet again.

On the plus side - NAV still a lot higher than s/p, and must be at least a prospect of some strong exits at some point. But again - long term we're all dead.

[russman] 09/11/2017 09:15

4 illiquid investments left; Shore still getting paid a big chunk.

[spectoacc] 09/11/2017 07:21

Same old same old. One day we'll be rewarded, but long term we're all dead.

"Lynn Bruce, Chairman of St Peter Port, said:
"On 21 June 2017, shareholders approved a resolution to carry on the life of the Company for at least one more year. As promised, we have implemented a cost reduction programme which is expected to reduce existing costs by approximately GBP200,000 per annum. We continue to seek exit opportunities for our portfolio with the belief that some of the investments are capable of making returns which are higher than those at which they are currently held on the Company's books. However, as previously advised, it will take time to realise given their illiquid status." "

And:

"Over the period since the Strategic Review began a few very early stage discussions took place which did not lead to any viable offers being received. The Company is not now in active discussions with any third party in relation to a corporate transaction, such as a merger with or a sale of the Company.
As such the Formal Sale Process has now been terminated. The Company has concluded the Strategic Review and expects that the best route to achieve maximum shareholder value is through continuing to seek opportunities to realise its investments in its remaining assets in an orderly manner. The Company is therefore no longer in an offer period for the purposes of the Takeover Code and, accordingly, the requirement to make disclosures under Rule 8 of the Code has now ceased.
The Board remains committed to trying to deliver value to shareholders through disposals of the investments within the Company's portfolio which it hopes will secure potential gains, but remains open to alternatives should they arise. "

[zcaprd7] 19/10/2017 10:51

What happened to the takeover?

[russman] 13/10/2017 09:52

High risk & high reward.
Anything is possible.

[zcaprd7] 12/10/2017 13:27

I thought a few of the holdings had some merit...

[russman] 12/10/2017 09:35

If I was been paid such an excessive fee for doing zilch.
That's what I would do.
It is not much of a liquidation or takeover candidate.

[zcaprd7] 11/10/2017 11:05

Sorry £1m. Hard to tell, but at least there is some activity form 1 of the 5?Not sure what the end game is here now, will they keep rolling over the 1 year extension until they fritter away the NAV on management fees?

[russman] 11/10/2017 09:23

what do you value them at.

[zcaprd7] 10/10/2017 23:23

Hmm, all five of the portfolio mining companies have been assigned a book value of $1m...

[flyfisher] 04/10/2017 14:57

Portfolio company global atomic announced a merger agreement with listed company silvermet on 18th august. It has received silvermet shareholder approval in recent days and has been well received by the market with silvermet up 60% since the announcement.

[russman] 08/9/2017 09:44

Cukic if only for the divorce gossip.

[zcaprd7] 07/9/2017 15:55

Oh, one of the director companies? They loaded up at this level a while back?

[russman] 01/9/2017 10:23

You must have heard of Ana.
Looks like Brett is giving up.

[zcaprd7] 31/8/2017 23:58

Who are Armstrong? Pardon my ignorance...

[russman] 21/8/2017 11:33

I suggested 0.75.It is a liquidation.

[zcaprd7] 20/8/2017 18:52

At least a cost reduction on fees...

[zcaprd7] 17/7/2017 11:27

Still in play I suppose. Does it have a deadline?

[russman] 12/7/2017 12:08

Can anyone tell me why sppc is still subject to the takeover code.

[russman] 22/6/2017 15:09

No surprises.Another year of sacrifice.

[zcaprd7] 21/6/2017 19:01

I guess that's something... Anyone get their divi yet?

[spectoacc] 21/6/2017 14:48

Of sorts!

"Result of AGM and EGM

The Company announces that, at the annual general meeting of the Company
held earlier today, all resolutions were duly passed.

At the extraordinary general meeting also held earlier today, the
resolution to continue the life of the Company for at least one more
year was duly passed. "

[russman] 21/6/2017 13:07

I presume there will be an AGM statement,

[russman] 13/6/2017 13:19

Divi paid today.AGM on 21st.