Tufton Oceanic Assets Share Discussion Threads

[lord gnome] 18/7/2024 19:23

Share price is responding as the wind-down proposals gain traction. Nice.

[ntv] 10/6/2024 19:36

Maybe some news/update tomorrow from the EGM

[lord gnome] 22/5/2024 10:18

Moving up steadily. No spike so this should be sustainable. If we get close to nav at 1.40 I might be tempted to bail out. With the tender, it might be profitable to buy back whatever they take off me and pocket the difference.

[rimau1] 21/3/2024 17:15

Results yesterday made good reading and covered today by ST in the IC so we could get a decent move up tomorrow

[lord gnome] 08/2/2024 15:48

Thanks for the link.

[zho] 08/2/2024 15:16

>>although i don’t have access>>

You should be able to access

[rimau1] 08/2/2024 14:14

Tipped in the IC Alpha today although i don't have access, this was off my radar so i have bought some, the economics for shareholder returns seem compelling! 9% dividend, a possible capital return (based on the recently announced ship disposals i guess) and a 25% discount to BV in a structural growth market.

[valhamos] 17/1/2024 11:20

Yes - an excellent update, the company has performed and managed risks well over the years. Very pleased with the increase in dividend and the strong investment outlook with realisation then starting in 2028.

[lord gnome] 17/1/2024 08:55

Humdinger of an update this morning. Dividends increased to 10cents per share, nav up to $1.45 and a very possible substantial special dividend to return some capital. Just had to buy some more. RNS reads as though they are already planning to wind up the trust in 2027, in which case we could see substantial capital returns in due course. Lovely.

[valhamos] 08/1/2024 07:55

Hindsight - the fair values of the Company's investments in the SPVs will be net of any debt. So how useful would information on a consolidated debt position - gearing, fixed/floating proportion etc - be when the Company is not liable for the debt in the SPV?

[hindsight] 07/1/2024 18:44

Thank you for the replies Valhamos
The debt situation being so opaque is not useful and contributes to the discount level as no one knows the terms, ie size, floating, fixed, covenant levels, etc

[valhamos] 05/1/2024 21:29

Hindsight - The Company fair values its investments in the SPVs and is classed as an investment entity so does not produce consolidated accounts. There is information in the IPO Prospectus (page 5) on borrowing and gearing policy. Any borrowing at SPV level is without recourse to the Company or other SPVs.

[valhamos] 05/1/2024 19:02

The company is registered in Guernsey so no US withholding tax, dividends are paid gross.

[hindsight] 05/1/2024 18:41

I presume $ dividends are paid gross, no US withholding tax ?

[valhamos] 05/7/2023 11:22

We haven't quite dropped to the levels of 2020 when I last bought some of these but have decided it's time to add more, especially as the investment managers and various staff and directors bought more recently along with the sizeable 4.1m share buyback announced today. 8.5% yield looks attractive if you expect inflation to fall back later this year.

[lord gnome] 22/6/2023 20:11

Looks like a forced seller being cleared today at any price the market will bid. 95 cents? WTF!

[lord gnome] 12/5/2023 12:31

The GBP is strong and the share price is weak - so I've added a few more. Paid slightly less than 1.11 at USD1.23 to the GBP. That's a touch under 90p in real money.

[2wild] 13/4/2023 08:06

I brought some Friday at 1.145 USD a good place to park some cash if you want to get exposure to US dollar with a high quarterly safe yield

[lord gnome] 13/4/2023 07:24

Share buyback programme continuing at a steady pace - too steady, perhaps. They are buying back at an even rate of 100,000 shares per day. My best guess is that they are helping out a shareholder who needs to sell a large quantity but without dumping them on the market in one go and trashing the share price. The shares will not make any progress whatsoever until the seller is cleared. What we are seeing is the agreed price. Could be a good time to add / buy.

[lord gnome] 20/1/2023 11:00

Back in with a few today. Looking to diversify sources of income in an uncertain market and this looks as good as any. Appears to have good asset cover and a slowly increasing dividend. Will look to add but don't want to go in too deep.

[loss-leader] 22/2/2022 08:43

Might be time to buy a LNG tanker? LL