Share Name Share Symbol Market Type Share ISIN Share Description
Strategic Equity Capital Plc LSE:SEC London Ordinary Share GB00B0BDCB21 ORD 10P
  Price Change % Change Share Price Shares Traded Last Trade
  6.50 2.21% 300.50 87,835 16:35:22
Bid Price Offer Price High Price Low Price Open Price
293.00 308.00 298.00 298.00 298.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 2.31 0.24 0.38 790.8 191
Last Trade Time Trade Type Trade Size Trade Price Currency
15:33:24 O 55,000 298.00 GBX

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Date Time Title Posts
29/8/202113:07Strategic Equity Capital200
26/2/201014:42Sector Charts3
17/3/200413:25Sectors & Charts8
25/5/200311:27Securicor; bouncing around like a one year old1
21/2/200318:58Any Secondary Teachers out there ?3

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Strategic Equity Capital Daily Update: Strategic Equity Capital Plc is listed in the Equity Investment Instruments sector of the London Stock Exchange with ticker SEC. The last closing price for Strategic Equity Capital was 294p.
Strategic Equity Capital Plc has a 4 week average price of 293p and a 12 week average price of 282p.
The 1 year high share price is 321p while the 1 year low share price is currently 171p.
There are currently 63,456,844 shares in issue and the average daily traded volume is 51,087 shares. The market capitalisation of Strategic Equity Capital Plc is £190,687,816.22.
topvest: I've taken a small holding in this trust and Odyssean Investment Trust PLC today. The last two small company trusts that I didn't have in my portfolio. Interestingly the founders of Odyssean have lodged a general meeting at SEC. Probably quite a bit of logic in the two combining as they have a similar approach. Its a difficult one as Gresham House are good. I am a shareholder in them back from the days when Gresham House was an investment trust. Odyssean is backed by Christopher Mills and Armitage; if Odyssean doesn't deliver then Harwood will step in. Harwood are equally good. It will be interesting to see what happens.
p1nkfish: So who made decisions? Team, House or SEC?
rambutan2: Annual report published: hTtps://www.strategicequitycapital.com/sites/default/files/SEC%20Annual%20Report%202019.pdf htTps://www.strategicequitycapital.com
mad foetus: Well, interesting RNS. As I suggested before, SW is likely to want meaningful stakes in some of SECs underlying investments. It is no surprise Harwood are talking to SECs shareholders.I personally think that SEC now needs to be wound up, and part of the winding up process could involve a sale of assets to Harwood new fund at close to NAV. If it wasn't for the fact that Lord Rothschild owns GVQ then I am sure this would be under discussion. As far as I see it, there is little reason to stick with the current manager.
bottomfisher: don't know about 'hand of god" but Ian armitage, widdowsons ex boss at Hg capital, was a steady acquirer of SEC shares at sametime as he ran down his very sizeabe holding in HG. I think he owns circ a 5% of SEC. He is now ba king widdowsons new venture somake sense if he sells downhis SEC stake to fund widdowson.
mad foetus: Isn't the big issue here the fact that SEC takes a PE style approach: taking large stakes in companies you know intimately and working with the management to get big returns. Now, I understand SW is going to do something similar at his new business. Isn't it very likely that he will look at companies he already knows? And if he wants to acquire a stake in them, wouldn't it make much more sense to buy the stake SEC holds? Though if he doesn't it will drive the price up in the market.But in every way I can think it would be best for everyone (other than GVQ) to move management of SEC to SW/Harwood.
mad foetus: The plot thickens. Sir Clive Thompson, one of the directors of SEC, also owns over £4m in SEC shares and sits on an advisory board of GVQ. GVQ can be given 12 months notice at any time, but there is nothing about key persons mentioned in the reports.However, the board of SEC are top notch (it is the best board I've ever seen on an IT) and Clive T and Lord Rothschild have a lot of skin in the game. I am interested to see how this plays out.
mad foetus: And the answer: he is setting up a new small cap fund with Armitage. I wonder whether SEC will buy their stakes in SEC off them and cancel the shares? Would make sense given SEC have cash and these guys presumably want to seed their new fund. hxxps://www.ftadviser.com/investment-trusts/2017/02/07/top-performing-uk-small-cap-manager-exits-gvq/
mad foetus: At last count, SEC had 8.1% of its assets in E2V, and the so if E2V at that time was around 180p. Let's say that equates to roughly 16p of NAV. The bid today adds around 8p to SECs NAV, and also vindicates the SEC board investment process. With the share price only up 4p ATM, I would say now is a good entry point.
silverpete: edwardt - the premium on the new shares issued is to cover the cost of the share issue - placing fees etc. The 'real' price of the new shares is 'estimated' NAV. Whilst SEC share price remains at a premium to the NAV any new shares issued will tend to depress the share price Reading between the lines of the circular to shareholders the BOD view this as a desirable outcome. This is only of concern to those who bought shares at a premium to the NAV as they face a loss, hopfully only short term. Of more concern is the proposed 2nd resolution to disapply statutory pre-emption rights to the new shares so that they do not have to be offered to existing shareholders first, as there is no obvious reason why this is necessary and none is given in the circular. I know I'm a suspicious so and so but this does look peculiar to me, so unless a clear reason is given I'll be voting no to resolution 2.
Strategic Equity Capital share price data is direct from the London Stock Exchange
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