AGT have much material on their website from early last year when they launched a public campaign to sort it out. It clearly hasn't got that far as most of the status quo still remains.
Essentially, it was alleged that the manager was profiting from questionable incentive schemes at the expense of shareholders (although now spending it on buying shares in the market) and reporting long term NAV returns that were more creative than objective. |
Can anyone tell me what the story is with this share - why has it been so underpriced in relation to assets for so long? Is it just captured by the directors and shareholders get nothing or is there some other story here? Thank you |
rizwan hussain is well known to the courts:
let's hope SIHL don't bankrupt themselves defending themselves against his advances |
Bizarre RNS:
"Mr Rizwan Hussain and linked entities
Symphony International Holdings Limited (LSE: SIHL) has become aware that a Mr Rizwan Hussain and persons or entities that appear to be associated with him (including Annabel Watson, Godfrey Hicks, Peter Morrow, Clifden Group, FVS Investments Limited, Highbury Investments Limited, Saret Holdings Corp, Beyat Holdings Limited, Blue Side Services S.A., Keycards Holdings Inc, Corelli Capital AG and United Technology Holdings Limited (together, the "Linked Persons")) are holding themselves out as entitled to act as directors of or otherwise represent SIHL and/or its subsidiaries.
Neither Mr Hussain nor any of the Linked Persons have authority to act on behalf of SIHL or its subsidiaries. Mr Hussain and the Linked Persons are not associated in any way with SIHL." |
"..The Tetragon scale..", lol. But fair. |
I have to say, what a poor letter. Extremely vague and making the usual pointers to gross performance rather than the much lower returns shareholders have actually 'enjoyed'. Yes, the discount is a major part of that, although it appears to me that this ranks pretty high up on the Tetragon scale of lining management and board pockets at the expense of shareholders. |
2.5c div declared and letter published: |
hTTps://quoteddata.com/2021/04/avi-plans-unseat-symphony-board/ |
An update on portfolio companies today - The focus on consumer is a negative but the Asian focus is mitigating factor. |
Very undervalued and a proxy on MINT, a SE Asia hotel and leisure group. Not the greatest stock to be in during 2020 but today's RNS saw them raised $300ml at 3.1% so not a basket case either. |
I have not come across this before but just had a "heads up" from this article. You may be interested |
agreed most bizarre. Looks good for income though. |
15 months since I had s look and despite the progress on nav, the share price is still languishing.40% plus discount now. It seems very unloved, i am intrigued but don’t really know where to go to get a view on it. Anyone got any ideas/ research? |
You are right I didn't take into account of the extraordinary div which brings it up to about 14%
The dividend, payable to shareholders and option holders, will be 12.00 cents per share comprised of an ordinary dividend of 2.50 cents per share and an extraordinary dividend of 9.50 cent per share, which amounts to approximately US$14.9 million and US$56.6 million, respectively. |
Surely a 12 cent dividend is more than 6%. Share price of 86 cents and a divi of 12 is just over double that quoted by Macolm. |
Indeed, i need to take another look at this.
R2 |
Very nice 6% extraordinary div declared |
Bought a large chunk today after having a look on Stockopedia |
I have owned but price action is all wrong. I was expecting the share buy back to work wonders but it didn't. My conclusion is that if there was a genuine valuation anomaly someone with more on the ground investigative capability than me would have been buying steadily. They haven't. Difficult to deny the reality of the dividends and buybacks though - this isn't like one of the listed china frauds paying the dividend from the float. |
Hello All
I am having a sniff around SIHL and am wondering what the problem is ....
The Bull points are many;
Good area to invest in , the right sectors, some decent assets,a good dividend,large discount that is being narrowed,London listing, senior directors etc have skin in the game ,(personnnel, philosophy, team , objectives, board of directors, website etc all look pretty good to me on the face of it).
The Bear Points
BVI listing, , I don't see much performance....
Any thoughts welcome. It looks good but maybe I am missing something obvious......
Best
R2 |
Still at an estimated discount to NAV of c.30% |
Some huge buys of this today |
That's a hefty special dividend. 10 cents |
Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.
Hot Features
Premium
