Thalassa Share Discussion Threads

[kooba] 19/11/2020 14:23

Interesting another investment in FinTech https://www.cornerstonefs.com/Fingers in a lot of hot areas here.

[kooba] 19/11/2020 12:41

Unclear on Anemoi ..on a standard list and two way price albeit very wide!I had put a limit order in at 2p successfully through Hargreaves in my SIPP but not dealt , but not indicating there is any issue and I think I have seen some trade go through.Tiny market cap and trade so maybe nobody making a price through RSP. You might be better trying limit or fill or kill order , but personally wouldn't be selling near a penny as big discount to nav and I'm sure one won't have to wait that long to find out which direction this is going in..a reverse transaction can add significant value with the right deal . No advise intended.

[tiswas] 19/11/2020 11:16

Thanks again kooba It is not like me not to understand my investments but this is one where I quite frankly gave up trying some time ago in the hope that THAL would revert to nav. What I had not anticipated was the manner in which it would be done! Not had an answer back from my broker yet as to why I can not trade Anemoi within my ISA. The company has a nice new website and I see that it states: Following the publication of its prospectus on 19 October 2020, Anemoi International Limited is pleased to ‎announce the admission of its entire issued share capital to the Official List (by way of a Standard Listing under Chapter 14 of the Listing Rules) and to trading on the London Stock Exchange's Main Market for listed securities I wonder then why there is a problem?

[kooba] 19/11/2020 10:55

In the breakdown with the demerger details Anemoi had 4c book per share about 3p cash LSR had 38c book I believe so 28p, LSR carry chunk of cash and some residual retail assets retained to maintain REIT status. Difficult to know on write downs to be fair many tenants still paying rent and with ultra low interest rates those that are quality probably are up in value. There wasn't a revaluation done this year but the rental income appears high relative to yields at auction I guess.But property is not LSRs focus now so I would imagine these assets will be liquidate in due course. New focus travel and leisure, an area where there could be some exceptional value just now. It's all going to be about the deals that go into the vehicles...most SPAC/ shells out there trade at huge premiums to their book value so these two interesting at discounts.Holding on to all three, and adding to LSR today. THAL trading at 1/3 of book value the other two nearer half all pretty liquid , with opportunities like Tappit out there it's a once in several decades opportunity buyers market.

[tiswas] 19/11/2020 10:17

On 24/6 they said of LSR The Net Asset Value at 31 March 2020 was £6.933 million or 30.55p per share (September 2019: £6.992 million or 30.81p per share). So presumably writedowns needed because of covid but what is it really worth now?

[tiswas] 19/11/2020 09:25

And I can not sell my AMOI within my ISA without contacting the dealer?

[tiswas] 19/11/2020 09:19

So I can sell my new LSR holding at 13.6p! Please discuss! 😶😔

[varies] 09/11/2020 12:01

Having re-read the Report & Accounts for 2019, I find (which I should have realised before) that THAL shares are now quoted on the main market rather than AIM. For various reasons this makes them less attractive to me and, for the time being at least, I will not be buying any. Another deterrent is the high salary that Mr Soukup receives.

[varies] 09/11/2020 10:50

tiswas I hold no shares in any of these 3 companies but have held THAL shares in the past. AMOI and LSR do not attract me but THAL's discount to assets is very tempting. Mr Soukup does whatever he wants at THAL. His recent transactions seem uninspired but he may strike lucky next time and I think that spinning off AMOI and LSR enhances the remaining company although the exercise must have incurred some large expenses. Small shareholders in a small company are always at the mercy of the large shareholders who control it. This is unavoidable.

[tiswas] 09/11/2020 09:15

Well instead of one small position I now have three very small positions!!!! Anyone tried to trade AMOI? Getting message from idealing that it can not be traded even though it is showing in my ISA. Have queried it with them and awaiting reply. Are we better or worse off after all these shenanigans? Which of the three companies is the best investment going forwards? Regards Confused from Watford

[kooba] 02/11/2020 07:59

Year ago but some background on Tappit.https://www.telegraph.co.uk/technology/2019/11/03/england-rugby-star-austin-healy-ex-bt-chief-gavin-patterson/

[kooba] 28/10/2020 15:04

Likely Mr Soukup will be enjoying these markets! Judging from tone of recent update."Small hedge positions fortuitously re-instated end August beginning Sept that have benefitted from TSLA US, SFTBY US led tech rout."

[tanneg] 28/10/2020 09:34

LSR trading due to resume 19th November https://www.investegate.co.uk/local-shopping-reit--lsr-/rns/result-of-general-meeting/202010211119457990C/

[tiswas] 28/10/2020 09:15

Thanks as well kooba. Now showing in my nominee account. AMOI trading 2/4.5p and LSR suspended! Do we know when LSR recommences trading or is it just a wind down now as not up to speed with them. What a mess!

[kooba] 22/10/2020 15:18

Well I'll give it a go.If you had 10000 THAL you will now have6635 THAL and you will get 15000 LSR20000 AnemoiBoth listing shortly, Anemoi announced first day dealing 26th Oct.The book value per share pre corporate action was 150p (inc 92p cash)The book value of the distribution holdings equates to about 45p , bit under 1/3 of assets but since your holding has shrunk by a 1/3 there should be no real adjustment in THAL price or the per share book value..unsure at the cash per share post distribution ,might have gone up I guess.That's how I read it.As to whether this ends up enhancing shareholder value one will need to look at the new holdings value and what happens there. But move today not a great start.Will ultimately depend on the acquisitions these vehicles make which if well received should add value. Might also prompt rerate of THAL itself nearer to book.If I have this wrong can someone let me know please!

[cockerhoop] 22/10/2020 15:11

You're welcome

[cockerhoop] 22/10/2020 14:57

Not sure about Lombard Odier actions but my understanding is 2 new companies formed with $7.8m of assets being transferred from THAL to LSR and $900k to Anemoi. Assets obviously reduced in THAL by a similar amount. No of shares in THAL reduced by 33.65% for all holders so NAV per share not changed too much but holding value will be less but with the offset of additional holdings in LSR and Anemoi.

[tiswas] 22/10/2020 12:27

Would someone smarter than me care to explain where we are on this and the Lombard Odier reduction of holding by 90% today?

[janeann] 02/10/2020 06:38

surprised how quiet this board is given Lord soukups activities; perhaps everyone has sold up and left?

[kooba] 30/9/2020 03:49

On checking buyback the correct figure was in June rns so I was out on the high side.The average purchase price of the total number of shares held in treasury, 11,554,505 shares, is 67.10 pence per share for a cost of £7,753,339.11.

[kooba] 29/9/2020 14:20

I always thought the idea was getting in while they are cheap and before they are winners! Points taken though..average buybacks around mid 70s I reckon..but the idea of buying back shares at 50% discount to assets is hat it value accretive of NAV I guess.The share-price is the markets responsibility and the asset value the boards.

[tiswas] 29/9/2020 13:37

baner What was the average price of buy backs, I am pretty sure it is well above the recent share price. That is not creating value, as yet. Then look at the historic share price graph to see how the value of your investment has done over the last few years. Then look at how the market values the shares v nav. He may well end up a winner but not just yet!

[gfrae] 29/9/2020 13:27

Yes, I agree that this might be a good time to have cash, there may be some interesting assets available at good prices, especially in travel and leisure. The shares are currently at a massive discount to cash now, and shareholders are about to receive new shares which will also have some value.