Unbound Investors - ELTA

Unbound Investors - ELTA

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Stock Name Stock Symbol Market Stock Type
Unbound Group Plc ELTA London Ordinary Share
  Price Change Price Change % Stock Price Last Trade
0.00 0.0% 63.80 00:00:00
Open Price Low Price High Price Close Price Previous Close
63.80 63.80
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Posted at 10/11/2021 06:29 by brummy_git
Professional investor Paul Scott of Stockopedia discussed Electra Private Equity & Hostmore (starts 57:40)

https://www.youtube.com/watch?v=godOhIecGk4

Posted at 18/4/2018 20:00 by rambutan2
Am very much not a fan, but for the record:

Chairman's Statement

During the period the Company continued to pursue its investment strategy through its shareholding in Electra Private Equity PLC ("Electra").

At 31 December 2017, the net asset value attributable to shareholders of the Company was GBP82.4 million (2016: GBP487.5 million) or 26.20 pence per share (2016: 154.99 pence per share) (see note 12). The Company's net asset value was based on the closing price of 935.5 pence as at 31 December 2017 for the shares of Electra. As at the year-end SIGB, LP held approximately 29.90% of Electra through ordinary shares. The ownership level remains the same as at the date of this letter.

Electra has realised a significant number of its investments during the past 24 months, resulting in the accumulation of excess cash balances. Electra distributed GBP1.7 billion of this excess to shareholders through dividends in May, July, and December 2017. Following receipt of the distributions from Electra, the Company paid three dividends to its shareholders totalling 143.5 pence per share. I am pleased to report that these three dividends returned GBP451 million to shareholders during 2017.

On 1 June 2017, Electra's internal executive management assumed responsibilities from the former outsourced investment manager. Phase II of Electra's Strategic Review commenced at this date and was announced in October 2017. Electra announced that it would no longer participate in private equity. Going forward, the company would institute an optimised capital allocation policy measuring prospective returns on shareholders' capital versus returns of capital to shareholders.

On 7 December 2017, Electra announced its fiscal 2017 results noting that its 30 September 2017 net asset value per share was 1,074 pence per share, after the payment of the dividend on 1 December. Cash and assets sold but not yet closed represented 30% of net asset value. Electra also noted that, before the deduction of marketability discounts, the comparable net asset value was 1,683 pence per share.

During the year the Company repaid the remaining GBP20 million outstanding principal balance on the revolving loan facility with HSBC Bank plc (the "Facility"). Subsequently the Company cancelled the Facility and as a result has no borrowings.

Pursuant to its existing authority, the Investment Manager may sell, short or otherwise dispose of all or a part of such shares held in Electra or purchase additional securities at any time.

Details of Related Party Transactions are contained in Note 15 of the Notes to the Condensed Consolidated Financial Statements.

We are grateful for your continued support and will keep you informed of the status of our investment as it develops.

http://uk.advfn.com/stock-market/london/sherborne-investors-SIGB/share-news/Sherborne-Investors-GuernseyB-Ltd-Final-Results/77200992

Posted at 14/7/2017 11:13 by stewart64
Mega Dividend hit share accounts this morning, thought some of this might be reinvested forcing up the price...apparently not.

This is one of the few investment trusts trading at below NAV, the reason is that paying back capital in dividends is playing havoc with personal tax and new investors are giving it a miss lest they keep this up.

Share had been punished by about 8% this summer dividend adjusted.

Posted at 24/3/2017 21:33 by topvest
I see that Citywire has published an article stating that private investors are really unhappy. The company is run by a short-term bunch of greedy individuals in my view. Electra were paid very handsomely, but they were bloody good. I have zero confidence that the new Board can return anything like the 12% per annum over 20 years secured by Electra. No chance! Must be one of the few shares to announce such a capital return and the share price go down. The Board does not have private investors in mind at all.
Posted at 18/9/2014 06:39 by a1samu
£60 per share valued by Sherborne! Investors would be stupid to vote against the proposed changes!

At least Sherborne show vision, worthwhile to go along with!

Posted at 28/2/2014 15:05 by 18bt
Activist investors always good to put the burners under a share price short term, though whether good long term is another matter
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