Third Point Investors Share Discussion Threads

[rambutan2] 17/12/2020 20:45

The estimated NAV of the under mentioned class of shares of no par value in the Company, as at the close of business on 15th December 2020 is: CLASS NAV MTD Performance YTD Performance USD Shares USD 25.20 3.4% 19.1%

[rambutan2] 20/11/2020 22:10

Having a very good month, so far: The following figures are estimated net returns of Third Point Offshore Fund, Ltd. for the month of November and for the year 2020 as of November 18, 2020: November YTD 2020 +8.1% +11.3%

[rambutan2] 24/10/2020 21:20

Bought a few in April as remembered how well Mr Leob had performed coming out of the GFC. In particular, his success in distressed credit. This time, thanks to the Fed, the credit opp hasn't really come about, but TPOU has done ok and the shares better as the discount has come in. I'm happy to hold for the time being. hTtps://thirdpointlimited.com/wp-content/uploads/2020/10/2020.09-September-Monthly-Report-TPIL.pdf htTps://thirdpointlimited.com/wp-content/uploads/2020/10/Third-Point-Q3-2020-Investor-Letter-TPOI.pdf

[rambutan2] 05/12/2018 18:05

Had rubbish performance and currently at big discount. Will continue to watch.

[rambutan2] 30/7/2018 18:30

Trading in sterling of the U.S. Dollar Shares is expected to take effect from 8:00 am on 27 July 2018. http://uk.advfn.com/p.php?pid=quote&symbol=LSE:TPOs

[rambutan2] 30/7/2018 18:24

Worth noting: 25th July 2018 Completion of 30th June 2018 Share Conversion and Additional Sterling Quote (Classified Regulated Information, under DTR 6 Annex 1 section 2.3) Following the publication on 25th July 2018 of final month-end net asset values for 30th June 2018 the following share conversion ratios have been determined in accordance with the Articles of Incorporation of the Company for the purposes of the 30th June 2018 share conversion date: 1.241194 US Dollar shares for each Sterling share 0.8056798 Sterling shares for each US Dollar share On the basis of aggregate applications received and using the conversion ratios listed above, the following shares will be converted: USD 0 shares of no par value into 0 GBP shares GBP 1,553,767 shares of no par value into 1,928,433 USD shares The Company’s Articles of Incorporation provide that whenever a number of shares is converted from one currency class to another, a corresponding number of unlisted B shares shall be converted so as to maintain the set ratio of B shares to ordinary shares. On this basis, the following B shares will be converted: 1,035,860 Sterling B shares of no par value into 1,285,703 US Dollar shares 0 US Dollar B shares of no par value into 0 Sterling B shares Following conversion of the relevant shares, the total number of shares in issue in each class will be as follows: 50,004,787 US Dollar shares; and 0 Sterling shares 33,336,625 Dollar B shares; and 0 Sterling B shares Application has been made to the Financial Conduct Authority (“FCA”) for the 1,928,433 new US Dollar shares to be admitted to the Official List of the UK Listing Authority and admitted to trading on the London Stock Exchange’s main market for listed securities on or around 27th July 2018 The Share conversion took place on 23rd July 2018 The Company announced on 20 June 2018 that in order to simplify its share capital structure, the Company’s ordinary shares denominated in sterling are to be converted into ordinary shares denominated in U.S. dollars to create a share class with a single denomination (“U.S. Dollar Shares”). The Company today announces that is has made an application to the London Stock Exchange for a dual quote structure to be adopted allowing the U.S. Dollar Shares to be quoted in both sterling (the “Sterling Quote”) and US dollars (the “U.S. Dollar Quote”). Trading in sterling of the U.S. Dollar Shares is expected to take effect from 8:00 am on 27 July 2018. As set out in the table below: The existing TPOU ISIN will apply for the U.S. Dollar Quote and the Sterling Quote; The existing SEDOL and TIDM will continue to apply for the U.S. Dollar Quote; A new SEDOL and TIDM will be introduced for the Sterling Quote: U.S. Dollar Quote Sterling Quote ISIN GG00B1YQ7219 GG00B1YQ7219 SEDOL B1YQ721 BD2Z0L4 TIDM TPOU TPOS

[atholl91] 31/8/2017 13:08

Picked up a few today as 14.7% disc to NAV too wide for Daniel Loeb's quality.

[jonwig] 28/2/2014 06:20

Loeb pushes for board seats at Sotheby's: http://www.ft.com/cms/s/0/3e203e30-9fd6-11e3-9c65-00144feab7de.html?siteedition=uk#axzz2uVy7jnBa

[jonwig] 14/11/2013 07:22

Right on time: 84c, xd 20/11 pay 05/12.

[jonwig] 13/11/2013 12:13

Yup - 500 only.

[praipus] 13/11/2013 11:58

Have you got any shares here jonwig?

[jonwig] 13/11/2013 11:46

FT: Loeb's Third Point takes stake in FedEx By Stephen Foley in New York Dan Loeb, the activist hedge fund manager known for his coruscating attacks on company managers, has taken a stake in FedEx, the $42bn US parcel delivery group. Mr Loeb – whose recent targets have included Sotheby's, Sony and Nokia – disclosed on Tuesday that he had met FedEx's chief executive, Fred Smith, to discuss ways to improve the company's performance. More: Http://www.ft.com/cms/s/0/f198f8cc-4bc5-11e3-8203-00144feabdc0.html#ixzz2kWcTee4h I was expecting a dividend announcement by now - around 80c - 5% of NAV.

[jonwig] 23/10/2013 06:19

Q3 letter - activist stake in Nokia and return of capital to investors. Further details by month end, I think: Http://www.thirdpointpublic.com/wp-content/uploads/2013/10/Third-Point-Q3-2013-TPOI-Letter.pdf

[jonwig] 03/10/2013 06:30

Third Point urges Sotheby's chief William Ruprecht to quit: http://www.ft.com/cms/s/0/89a3a788-2b74-11e3-a1b7-00144feab7de.html#axzz2gGfRiA7q

[jonwig] 29/8/2013 06:18

H1 results this morning, very positive. Includes: I am pleased that the strategic initiatives, introduced by the Board last year to narrow the ongoing discount to NAV, have made a significant impact across each of the share classes and we remain committed to reducing the discount further. As previously announced, given the strong year-to-date performance by the Investment Manager, the Board expects that a dividend of 5% of NAV will be paid to investors in the fourth quarter of 2013, barring any significant adverse changes to NAV Latest NAV was $16.27 suggesting dividend of around $0.80 and yield of 5.4%. Don't know whether dividend will be "standard Guernsey", ie. include a 10% tax credit and no hidden elements. Can't find a prospectus. http://www.investegate.co.uk/third-point-offshore--tpou-/rns/half-yearly-report/201308290700146907M/

[praipus] 28/8/2013 07:04

Thanks jonwig, I'm also attempting to track Loeb and others (to some extent) on the HFT thread http://uk.advfn.com/cmn/fbb/thread.php3?id=24404128&from=114

[jonwig] 27/8/2013 17:57

TPOU = USD denomination, TPOG = GBP, TPOE = EUR. You can convert between at certain intervals, and there are also 'B' shares in each class (unlisted). About 95% of shares are USD. There are also 'B' shares in each class. I'll put details into header tomorrow if time. Performs very well when market is flat or rising (eg. up 3.2% this month to date) but could be suspect in a falling market, despite long/short strategy.

[praipus] 27/8/2013 16:15

Pardon my ignorance but whats the difference between TPOG and TPOU?

[jonwig] 27/8/2013 15:38

Today: Investor activism has made its way to the art world, with billionaire hedge fund manager Dan Loeb aiming his guns at legendary auction house Sotheby's. The head of Third Point bought more than 5% of the company, disclosing with the SEC on Monday that he plans to go activist and engage management and the board. hxxp://www.forbes.com/sites/afontevecchia/2013/08/26/billionaire-dan-loeb-gets-artsy-third-point-goes-activist-on-sothebys/

[jonwig] 25/8/2013 08:07

15 August: Activist investor Daniel Loeb's hedge fund, Third Point, has acquired $113.7 million of Disney stock, regulatory filings indicate. Loeb's company, which this summer pressed Sony Corp. to make a public offering of up to 20% of its entertainment arm, owned 1.8 million shares of Disney stock as of June. hxxp://www.latimes.com/entertainment/envelope/cotown/la-et-dan-loeb-buys-disney-stock-20130815,0,5427697.story

[jonwig] 25/8/2013 08:05

hTTp://www.thirdpointpublic.com/ Third Point Offshore Investors Limited (the "Company") is a closed-ended limited liability investment company, registered and incorporated in Guernsey. Listed on the London Stock Exchange, the Company is a feeder fund and invests all of its capital (net of expenses and short term working capital requirements) in Class E Shares of Third Point Offshore Fund Ltd (the "Master Fund"). The Master Fund's investment objective is to achieve attractive returns by using an event-driven, bottom-up, fundamental approach to evaluate various types of securities throughout companies' capital structures. The Master Fund, Third Point Offshore Fund Ltd, is an exempt company with limited liability incorporated under the laws of the Cayman Islands. The Investment Manager of the Master Fund pursues a research-driven strategy based on fundamental value. The primary focus of the investment effort is to identify "event driven" situations in which a potential event should lead to a significant revaluation, up or down, in a company's securities. Positive potential events could include operational restructurings, recapitalizations, or change in management or sale of a company. Negative potential events could include a liquidity crisis, adverse litigation outcome, or the exposure of accounting or other irregularities. The funds managed by the Investment Manager have the capacity to assume large positions in particular companies, and to influence the affairs of those companies, thereby increasing the likelihood that the envisioned catalyzing event will in fact occur. This investment process has successfully been applied across strategies, industries and geographic regions.