Vpc Specialty Lending In... Share Discussion Threads

[waterloo01] 22/12/2022 07:10

Well that's a definitive approach.

[chucko1] 16/12/2022 18:06

No, Bloomberg saw a first auction price of below 80 and cited the close at 80.00/80.40. All this on moderately low closing volume.

Hopefully still there or thereabouts first thing Monday! But I rather doubt it - RECI fell 6p on the close.

[waterloo01] 16/12/2022 18:06

Someone off for an early Xmas maybe and clearing their book?

[cwa1] 16/12/2022 18:04

UT was 80p

[redhill9] 16/12/2022 18:01

Odd. HL are showing close share price as 83.0p/83.4p, which is only slightly down on where day started, but is also showing day movement of 4.4p.

HL quirk in day movement calc maybe?

[scrwal] 16/12/2022 17:14

The UT has given the price a right kicking at the close.

[chucko1] 08/12/2022 23:25

Note the pick up in the rate of monthly gross return. Entirely consistent with new loan pricing. Such is the power of short duration, and partly why this has not fallen too far (apart from a bad week or two) in comparison with other fixed income-like ITs.

Recent strength owing to new HF agitation, I suppose. The 2p dividend saw almost no softening of price today. That is a healthy freebie.

[waterloo01] 07/12/2022 16:37

If the board come up with a sensible way to achieve the distribution, which should include the manager (as suggested by Staude) then I'm not sure the action is needed, but I'd like to better understand the merits of what Staude are suggesting over what the BOD will come back with.

[cwa1] 07/12/2022 16:33

Receipt of Requisition Notice

The board of directors (the "Board") of VPC Specialty Lending Investments PLC (the "Company") confirm they have received a request dated 6 December 2022, seeking to requisition a General Meeting of the Company, to consider certain changes to the Company's investment policy and share capital structure (the "Requisition").

The Requisition was signed by Global Value Fund Limited, Staude Capital Value Fund LP and Metage Funds Limited, being holders of registered legal title to, in aggregate, more than 5% of such of the capital of the Company as carries the right of voting (excluding any capital held as treasury shares).

The Board is in the process of reviewing the content and legality of the request with its advisers and a further announcement will be made in due course. The Board welcomes input and views from all stakeholders.

[badtime] 07/12/2022 16:25

RNS at 4.01 looks interesting

[waterloo01] 07/12/2022 15:02

Not sure. Ex divi date tomorrow (8th)

[cwa1] 07/12/2022 14:06

What would be the downsides in holding realisation shares? Cheers

[scrwal] 07/12/2022 13:16

A new class of share will be created and presumably can be traded. This could create a two tier pricing structure with the normal shares trading at the current discount and the realisation ones at a much smaller one presumably since they will be redeemed at nav at times as yet unspecified.

The realisation shares should still receive the 2p quarterly dividends so if you hold them the income flow is decent and the nav uplift could be 15p so over a 3 year period it looks like almost a no brainer to have 25% of your holding held as realisation shares.

[waterloo01] 06/12/2022 18:43

Interesting. Last time the board moved position. Either way shareholders should benefit. I look forward to any debate on it, as it has technical implications with a new class of share (as suggested)

They still have time to explain the mechanism for the return

On 10 June 2020, in the update to the Notice of Annual General Meeting, the Board stated the following:
…If shareholders approve the continuation of the Company, the Board has resolved to apply the following
conditions… (iii) Discount to NAV: If the average discount to NAV at which the shares trade over the 3 month period ending on 31 March 2023 is greater than 5%…the Board will now offer shareholders an exit opportunity for up to 25% of the shares in issue immediately following the Company's AGM in 2023…

[jeff h] 06/12/2022 18:32

Trouble At Mill....Staude agitating for change again:-

[neilyb675] 05/12/2022 09:39

83.80 - 85.80 (GBX) at 08:05:22
on Market (LSE)

[cwa1] 30/11/2022 07:24

And, as if by magic...:-)

DIVIDEND DECLARATION

The Board of Directors of the Company has declared an interim dividend of 2.00 pence per share for the three-month period to 30 June 2022. The dividend will be paid on 29 December 2022 to shareholders on the register as at 9 December 2022. The ex-dividend date is 8 December 2022.

[cwa1] 29/11/2022 14:51

Announcement a touch later than previously, but nothing worrying yet I reckon

[badtime] 29/11/2022 14:06

Nope ..just would like confirmation of existing amount and date

[chucko1] 28/11/2022 23:20

Are you expecting anything other than 2p? If so, that would be a big call!

[badtime] 28/11/2022 19:46

Should hear about the div soon

[rambutan2] 08/11/2022 22:08

Sept nav 101p, details here:

[rambutan2] 06/11/2022 21:40

As the asset class evolves, more opportunities are opening up for new approaches, say Victory Park Capital founding CEO Richard Levy and senior partner and co-founder Brendan Carroll...

[rambutan2] 28/10/2022 12:27

It’s worth pointing out that Straude came from the Metage stable and that they often hunt together.