St Peter Port Capital Share Discussion Threads

[zcaprd7] 12/6/2020 17:26

We're OPP the distressed seller I wonder?

[zcaprd7] 12/6/2020 17:26

Could be worth a few quid, because OPP bought theirs in 2011, and wrote them down in 2017, when SPPC stepped in to invest?

[zcaprd7] 12/6/2020 13:32

Hard to tell how much they'd get from Celadon, but as they've written the value down to nil, it must be NAV positive!

[zcaprd7] 12/6/2020 13:28

In the 2017 results they said this: £3.7 million subscription for ordinary shares in two tranches. Further £660,000 purchased from a distressed seller.

[zcaprd7] 12/6/2020 13:21

Looks like Mr Blackford did know something about the coal mines of China?

[russman] 12/6/2020 10:06

No trades. No news.
Give the Directors a bigger bonus.

[flyfisher] 12/6/2020 06:26

From OPP today.

Update re Celadon Transaction

The Company has been informed by the controlling shareholder of Celadon Mining Ltd. ("Celadon") that Celadon has entered into an agreement with a third party to sell Celadon's assets for approximately RMB 330 million net to Celadon or approximately $47 million ("the net sale proceeds") with closing scheduled for the earlier of (i) the lifting of certain restrictions on travel in connection with the global pandemic or (ii) 31 December 2020. The controlling shareholder then expects to return the net sale proceeds to Celadon's shareholders through a share buyback. If this occurs the Company would receive approximately USD 4.2 million. The Company invested approximately USD 13.1 million in Celadon in 2011. In the Company's last published accounts dated 30 June 2019, the Celadon investment was carried at a "fair value" of $1.129 million. The Company has not been involved in the negotiations for the sale of the Celadon assets and has no direct insight into whether closing will occur as planned. Further announcements will be made in due course.

[russman] 03/6/2020 16:37

Another trade; seller got half inched
Quelle surprise

[russman] 31/5/2020 07:49

I presume Shore only maintains the listing for its preferential clients.
Not sure their tax breaks offset the losses to date.
Minorities have not got a free and fair market for their shares.

[flyfisher] 30/5/2020 08:43

Did you expect any trades, there is no kid.

[hedgehunter2] 29/5/2020 16:51

These illiquid holdings, have been kicked around the market, and there are no bidders, for SPPC stakes being held, they keep saying not realistic offers, but do they have any offers?

The realistic disposal of holdings maybe 3-5 years, once Covid, blows over, and companies,can start to trade, mean while the cash holding which is only real tangible asset is decreasing to run a zombie company.

Accept losses, and write off as a punt, that went wrong, oh hope a pray.

Market Cap, is a value, for a private wealthy individual who may play at taking time to unlock longer term punt, Mr Shore step forward.

[russman] 29/5/2020 16:31

Final Results and not 1 trade.
Which bit do you not understand.

[flyfisher] 29/5/2020 10:25

I am not reading the same report as other commentators.

Governmental agreement between turkmenistan and azerbaijan for the Buried Hill asset. Brazil Potash fund raising, which at $4, is a 60% premium to book.

Whilst the rest of the assets are dross, these two have some potential, a little unfortunate that the potential for the oil asset comes at a time of oil demand being depressed, but still encouraging.

Sell these 2 holdings, auction off the dross to highest bidder and wind this up.

Still the big question is what final value will it realise.

[russman] 29/5/2020 10:01

With no K.I.D there is no market in SPPC shares now.
No point being listed.
Just be a matched bargain basis with the directors.

[pete_bane] 29/5/2020 08:36

"we'll see a decent return" will we, SpectoAcc? Isn't it a bit moronic hanging on to a share that has dropped from 100p+ to just 3p? And that is added on to your two dozen or so other heavy losers...

[hedgehunter2] 29/5/2020 07:30

Bottom line, is in 6 months, there will be no more progress, and all companies, holdings are illiquid, and same request to roll over another year in hope and pray mode.The remaining cash will be absorbed over 6 months, running zombie companies.

The NAV, is wate of time, of you can not actually turn it into cash.

This is now a write off, Barclays stockbrokers, dont even give you a quote for sell.

Expensive lessson, hoping to buy, into deep discount NAV on an investment trust that is frankly too small, running cots of being a PLC, is not cost effective.

[spangle93] 29/5/2020 06:56

I must have misread the financial report



I can't find any mention of the directors taking shares in lieu of salary to preserve company cash in these challenging times, like so many other companies' managers have done.

[russman] 21/5/2020 18:08

Crikey a trade on SPPC.

[zcaprd7] 20/5/2020 13:12

Your man Blackford has just taken a position over at OPP today...

[russman] 12/5/2020 09:29

Unlisted; have to rely on Directors unless comparable transactions.
Shore used to get a % of valuation so I would expect valuations to be optimistic; not fire sale prices.

[zcaprd7] 11/5/2020 22:55

Is the Nav really 18p... Been burnt by made up NAVs before!

[russman] 03/5/2020 07:47

I will; nothing to lose.

[flyfisher] 02/5/2020 15:56

Good point, perhaps you should point that out to the CEO.