St Peter Port Capital Share Discussion Threads

[merrick2] 01/7/2009 11:47

I wrote and posted this article last week regarding SPPC (see below) and thought I would post this again after the performance of the Off-Plan Fund yesterday, which was the best performing company on the whole of the LSE up +55%.

The reason for Off Plan's outperformance was simply on the back of the metrics involved where cash more than covered the market cap meaning the rest of the business was heavily discounted. This coupled with yesterday's more positive outlook and retrurning confidence bodes well for Off Plan's future.

Although SPPC and Off Plan bear no relation to each other in their respective businesses, the metrics are very similar and I believe it is only a matter of time before the market wakes up to the fact that SPPC's cash covers market cap meaning that the company's investments are heavily discounted.

The management at SPPC have an excellent track record and the company announced a strong set of interim results last December, in particular, the company made realisations of c£21m from its investments, generating gains of c£6.8m during a time of turbulent financial markets. The management's continued ability to realise investments and achieve attractive returns from non-IPO exists also bodes well for the future with the hope that market conditions will inevitably improve in the IPO market.

STRONG BUY!

St Peter Port Capital

St Peter Port Capital Limited ("the Company" or "St Peter Port"), is a listed investment company whose aim is to generate value by investing in growth companies shortly before an initial public offering ("IPO") ("pre-IPO companies").

The company was set up by 3 well known UK investors all worth more than £100m personally being Howard Shore, Tim Childs and Bob Morton.

The company is capitalised at £32m.

It has investments worth £50m worth - 66p per share.
It has cash of £25m worth – 34p per share.

So in total its Nav per share is 102.5p.

So lets assume the nav is as follows:

100% of the cash being – 34p
plus 50% of investments being – 33p
then this should be worth 67p.

Please see highlights from last set of figures:-

DJ St Peter Port Capital 1H Net Profit GBP2.3M Vs GBP3.7M

St Peter Port Capital Tuesday announces its interim results for the six months ended Sep. 30.

Highlights

* Invested in 41 pre-IPO companies at period end

* 5 pre-IPO investments wholly realised, some others partly

* NAV of 105.6 pence per share, up 8.2% since flotation

[merrick2] 22/6/2009 13:21

St Peter Port Capital

St Peter Port Capital Limited ("the Company" or "St Peter Port"), is a listed investment company whose aim is to generate value by investing in growth companies shortly before an initial public offering ("IPO") ("pre-IPO companies").

The company was set up by 3 well known UK investors all worth more than £100m personally being Howard Shore, Tim Childs and Bob Morton.

The company is capitalised at £32m.

It has investments worth £50m worth - 66p per share.
It has cash of £25m worth – 34p per share.

So in total its Nav per share is 102.5p.

So lets assume the nav is as follows:

100% of the cash being – 34p
plus 50% of investments being – 33p
then this should be worth 67p.

Please see highlights from last set of figures:-

DJ St Peter Port Capital 1H Net Profit GBP2.3M Vs GBP3.7M

St Peter Port Capital Tuesday announces its interim results for the six months ended Sep. 30.

Highlights

* Invested in 41 pre-IPO companies at period end

* 5 pre-IPO investments wholly realised, some others partly

* NAV of 105.6 pence per share, up 8.2% since flotation