Største aksjonær i IDEX i kjempetrøbbel


STORFOND STANSER INNLØSING: Woodford stanser nå innløsninger fra sitt drøye NOK 40 milliarder store aksjefond etter svake resultater og innløsninger over flere år. En frys på innløsning ble innført når en større aktør ba om tilbakebetaling av nærmere NOK 2,7 milliarder. Woodford eier nærmere 25 prosent av Thin Film som er på kapitaljakt og 28 prosent av Idex – tunge posisjoner som det synes svært vanskelig å komme seg ut av med tanke på likviditeten. Idex steg raskt 16 prosent på fredag – siste noteringsdag i mai – på en måte som fikk flere aktører inne på Xtrainvestor til å spekulere i en «pump» for at noen ville vise bedre forvaltningsresultater for måneden. Kursen falt da også kraftig tilbake på mandag. Her finner du vår Idex-kanal https://www.xtrainvestor.com/channel/idex

IDEX vil nok straks reprises mot peers... Da snakker vi et fall på 85% til 43øre
Reserven
04.07.2019 kl 01:36 2909

Et utdrag fra:
03.07.2019:   https://www.ft.com/content/8b526046-9dac-11e9-b8ce-8b459ed04726

Woodford informs staff their jobs are under threat

«Neil Woodford’s crumbling investment business has informed staff their jobs are threatened a month on from the decision to suspend trading in his £3.5bn flagship fund.

It is understood that a “handful” of support staff roles are under review. The company’s most recent annual report showed it had 45 staff at the end of March 2018.

“We have reluctantly entered into redundancy consultations with a number of staff to advise them that their roles are at risk,” said a spokesperson for Woodford IM.

In a video statement to investors on Monday, Mr Woodford said he had structured his business to allow for periods of fewer staff and resources.»


https://www.hl.co.uk/news/articles/woodford-equity-income-suspension-extended

Woodford jobber nok hardt med å finne kjøpere av de illikvide aksjene. Finner ikke noe regelverk på hvor lenge fondet kan være suspended, så antar at et salg fra woodford kan strekke ut i tid... uansett får vi bare vente å se hvor kommende emisjon blir plassert. Jeg mener fremdeles 43øre er en rettferdig kurs, på veien mot konkurs når aksjemarkedet innser at FPC tar det potensielle markedet.
Reserven
05.07.2019 kl 18:06 2708

Et utdrag fra:
05.07.2019:   https://www.ft.com/content/4b672f72-9e77-11e9-b8ce-8b459ed04726

Q&A: What next for investors in Woodford Equity Income?

«Hundreds of thousands of retail investors with money trapped in the Woodford Equity Income fund will have to wait at least another month until trading resumes, it was announced this week, as the stricken £3.7bn fund entered its fifth week of suspension.

Anger is growing among investors, many of whom feel they were not sufficiently warned about the fund’s liquidity risk, and fear heavy losses when the fund eventually reopens its doors.

How much longer will the suspension last?
The short answer is that nobody knows, but for at least another 28 days. The Financial Conduct Authority was informed on Monday that the fund was not ready to be reopened. The decision has to be reviewed at least every 28 days.

“Of course, we understand that people want access to their money, they are very frustrated by not being able to deal in the fund. But we are using the time . . . to ensure we get the right outcomes for our investors,” said Mr Woodford in a video statement to investors on Monday.
https://www.youtube.com/watch?v=Gm0KGhza5Ew

The ongoing suspension reflects the fund’s inability to meet a wave of redemption requests from investors while staying below a regulatory cap on hard-to-sell illiquid assets in the fund.

Mr Woodford promised this week that when the fund reopened there would be more liquid stocks from the FTSE 100 and 250 indices.

How are the asset sales progressing?
On Monday, it was announced that the fund manager had reduced his holdings in Raven Property and Horizon Discovery, two long-term investments. Mr Woodford has also sold down stakes in other listed companies over the past month, including BCA Marketplace, New River Reit and Oakley Capital Investments.

However, investment commentators feel sales of the fund’s non-listed assets will be more challenging, saying it is too early to speculate how far the value of units in the fund may fall at such a time when it is ready to reopen.

Why won’t Woodford waive management fees?
Woodford Investment Management confirmed this week that it is receiving £65,000 per day in fee income from the Equity Income fund, even though it remains suspended.

The fund management group has resisted calls to cut fees from Nicky Morgan MP, the head of the influential Treasury select committee. Andrew Bailey, head of the Financial Conduct Authority, has also said there are “good arguments for waiving fees” although there is no regulatory requirement to do so.

The group has said it believes the charges are justified, as the portfolio is still being managed.

What about Woodford’s other funds?
Mr Woodford’s other investment funds have also suffered. His open-ended vehicle, Income Focus, has seen its size drop by more than 40 per cent in the past month to £296m due to heavy withdrawals.

The company’s closed-ended Patient Capital Trust has shed 25 per cent of its share price over the same period.

Investors are angry — but what are regulators doing?
The FCA has launched an investigation into the events that led to the gating of Mr Woodford’s fund to investor redemptions, and Mr Bailey has already raised questions about how fund liquidity should be defined.

The Equity Income fund had managed to keep within the liquidity limits by listing stakes in some previously unlisted assets on Guernsey’s stock exchange. Mr Bailey told the Commons Treasury select committee that this was “sailing close to the wind”, adding: “Listing something on an exchange where trading does not actually happen, as far as I can see, does not actually count as liquidity.”

However, Mr Bailey also stressed how rare it was for funds to breach the EU’s 10 per cent cap on illiquid assets. Of around 3,000 open-ended UK funds, Mr Woodford’s fund and one other small fund were the only two to report a breach in the past year.

Bank of England governor Mark Carney was far more punchy in his assessment, telling MPs that funds that invested in illiquid assets but allowed investors instant access to their money were “built on a lie”, calling for changes to regulations.»


Redigert 05.07.2019 kl 18:22 Du må logge inn for å svare
Møyfrid
05.07.2019 kl 20:09 2681

"verdenslederen" skal få så på trynet at hausserne her ikke forstår hva som traff dem.
Reserven
05.07.2019 kl 21:24 2646

Sluttkursen i dag, 1.626, er "bare" ned -60% siden siste emi i januar.
Elite-Papegøyene har IGJEN bevist sin ekstremt totale overlegenhet når det gjelder kunnskap om og innsikt i aksjemarkedet, særlig lurendreier-selskaper.
Møyfrid
05.07.2019 kl 21:29 2653

Var det 7,40 jeg hang meg på?

Ene og alene pga ekstremhausserne her på siden. Tok meg ca 240 sek å lese meg opp på vrøvlet.

Lykke til!

Sente
19.07.2019 kl 16:44 2451

http://citywire.co.uk/funds-insider/news/woodford-lifts-cash-pile-to-657m-with-newriver-exit/a1249879
Woodford har solgt mye, men har fortsatt ikke rørt Idex i følge aksjonærlistene.
Blir fondet åpnet for handel uten at Idex selges ville jeg påstå det er positivt for Idex. Det eneorme fallet kom når WF låste fondet. Spørsmålet er om kursen vil komme seg opp igjen på en slik god nyhet eller om det trengs noe bedre.

Tipper fondet blir tappet for penger rimelig raskt. Idex utgjør bare 0,6% av fondets verdi 1. Juni(litt mindre nå da). Ikke sikkert woodford selger, men poenget er at idex ikke har noen å suge penger ut av lengre og prisingen vil styres av nye investorer..
Reserven
30.07.2019 kl 11:00 2221

Et utdrag fra:
29.07.2019:   https://www.ft.com/content/ab026c6c-b1c8-11e9-8cb2-799a3a8cf37b

Woodford under more fire after £1m trust share sale

«Neil Woodford’s relationship with the London Stock Exchange-listed investment trust that bears his name has blown apart after he dumped a £1m shareholding but failed to notify the company of the share sale for three weeks.

Britain’s best-known stockpicker has also informed investors in his flagship Equity Income fund that they face the prospect of being locked in the £3.5bn vehicle until December.

Ian Hunter, a shareholder in WPCT, said investors in the trust would find it “disgraceful” that Mr Woodford had sold such a large parcel of shares without making that sale public. “The market has been kept in the dark,” he said. “Neil Woodford should be made to stand in front of the Treasury select committee to explain himself as soon as possible.”

WPCT said Mr Woodford was a “reluctant seller” of the 1.75m WPCT shares but was forced to seek funds after deciding not to take any income or dividends from the equity income fund. He retains 1.25m shares in the trust, a 0.14 per cent stake.

“The sole reason that he did so was in order to meet personal financial obligations, including a tax liability,” Woodford Investment Management said.

WPCT’s shares dropped 5 per cent to a fresh all-time low of 50.6p on Monday, down by half from their 52-week high. The shares have fallen a third since the equity income fund blocked investors from withdrawing their capital last month.

Taking on a new manager could have serious implications for WPCT, including higher fees.»


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Woodford har solgt personlig eide andeler i WPCT.

Redigert 30.07.2019 kl 17:25 Du må logge inn for å svare
Reserven
30.07.2019 kl 11:08 2217

Et utdrag fra:
29.07.2019:   https://www.ft.com/content/2ee91896-b1f1-11e9-8cb2-799a3a8cf37b

Patient buyers see difference between Woodford funds

«It may be called the Woodford Patient Capital Trust, but its board members’ patience seems to have run out. With manager Neil Woodford still unable to let investors withdraw cash from the supposedly “open-ended” Woodford Equity Income fund — its suspension is now likely to last until December — the listed WPCT has announced it is considering “a change in the company’s management arrangements” and that Mr Woodford only just told them he has “sold 1.75m of his shares”. Timings would suggest the two cannot be connected, and circumstances would suggest a sale of still-traded WPCT shares was the only way Mr Woodford could raise money to pay his bills. Still, it is possible to see why WPCT’s board could be patient no more.

In the 56 days WEIF has been frozen, WPCT has lost 33 per cent of its value. Hence the board had to act on three very real shareholder concerns.

First, WPCT portfolio valuations cannot be relied upon as so many holdings are common with those of WEIF, which has become a forced seller to meet withdrawal requests. If WEIF is forced to take a lower price for holdings — especially the unlisted ones — WPCT by definition also takes a hit.

However, the WCPT board already seems to have addressed two of these problems. Debt is now down to £117m, or 16 per cent of NAV, and new non-executive directors are being hired. It would appear, then, that the board’s only worry is a reputational link to WEIF. But to see one is arguably wrong, given the funds’ differences.

WPCT, as a listed closed-ended fund that can always be traded, is exactly the right structure to hold Mr Woodford’s small illiquid investments — unlike WEIF. He himself has just proved it, cashing in on the liquidity it offers despite its illiquid stocks.»


Redigert 30.07.2019 kl 17:30 Du må logge inn for å svare
Sente
30.07.2019 kl 13:33 2132

Hva er det du lurer på Noni?
Reserven
30.07.2019 kl 17:28 2064

Et utdrag fra:
29.07.2019:   https://www.ft.com/content/ab026c6c-b1c8-11e9-8cb2-799a3a8cf37b

Woodford under more fire after £1m trust share sale

«Neil Woodford’s relationship with the London Stock Exchange-listed investment trust that bears his name has blown apart after he dumped a £1m shareholding but failed to notify the company of the share sale for three weeks.

Earlier on Monday, the independent board of Woodford Patient Capital Trust, Mr Woodford’s listed investment trust, decided to make the share sale public after it was notified by Mr Woodford on Saturday that he had sold 1.75m shares between July 3 and July 8.

Working with house broker Winterflood Securities, WPCT is now soliciting interest in the contract from an even “broader range of third-party managers” as it assesses its options. This “may or may not lead to a change in the company’s management arrangements”, WPCT said.

WPCT’s shares dropped 5 per cent to a fresh all-time low of 50.6p on Monday, down by half from their 52-week high. The shares have fallen a third since the equity income fund blocked investors from withdrawing their capital last month.

Iain Scouller, an analyst at Stifel, said a new manager could do a precautionary “kitchen-sink” writedown of WPCT’s unlisted portfolio, which makes up three-quarters of the trust’s net asset value.

“We think any new manager taking on the contract should make some assessment via the board and shareholders as to whether this would be on a normal long-term continuing basis, or whether shareholders will look for WPCT to go into ‘run-off’ with disposals of investments and returns of capital to investors,” Mr Scouller said.

The Financial Times reported last month that Mr Woodford was at risk of being kicked off the trust, and that the board had held discussions with Winterflood about terminating its contract with Mr Woodford.

Christopher Brown and Adam Kelly, analysts at JPMorgan, pointed to the long gap between the date the WPTC shares sales took place and the date the board was informed, saying: “Neil Woodford’s sale of a majority of his own WPCT shares, whatever the reason, is clearly not a positive signal to other shareholders, in our view, particularly given the timing.”

They added: “It is not inconceivable that [Woodford Investment Management] could experience such severe outflows on its open-ended funds that it is no longer a viable business and has to wind down.”

WPCT’s board previously announced it was clamping down on its trading activity and debt reduction was a priority. It has also drafted in more independent directors, following criticism that its members were too close to Mr Woodford.»


Er det noen her som fortsatt har troen? 😂
Reserven
31.07.2019 kl 13:48 1893

Et utdrag fra:
31.07.2019:   https://www.ft.com/content/940d6bfe-b364-11e9-8cb2-799a3a8cf37b

Woodford fund breaches unquoted limit after Guernsey delistings

«Neil Woodford’s stricken investment fund has smashed through a regulatory limit on unquoted stocks after the Guernsey stock exchange demanded the cancellation of two of its largest holdings.

The UK stockpicker’s move to list his stakes in Benevolent AI and Industrial Heat on The International Stock Exchange, known as TISE, to skirt rules on unquoted holdings were among his most controversial in the run-up to the suspension of his £3.5bn Equity Income fund last month.

The TISE listings allowed Mr Woodford to keep the weighting of the fund in “unquoted securities” below the 10 per cent hard cap required under European fund rules known as Ucits.

“The decision by Benevolent AI and Industrial Heat to delist from TISE will have no impact in how the assets are managed within the fund,” Mr Woodford’s spokesman said.

On Monday investors in the Equity Income fund were told they should not expect to gain access to their savings until December at the earliest. Mr Woodford has attracted criticism for continuing to charge investors £65,000 a day while they are locked in the fund.

Adrian Lowcock, head of personal investing at Willis Owen, an advisory group, said investors “will pay around £13m in fees in total” to Woodford Investment Management if the fund remained closed until December.

“It is a shame that Woodford hasn’t responded to requests to cut his fees until this sorry affair is resolved,” he said.»
Reserven
31.07.2019 kl 16:58 1807

I innlegget  https://forum.hegnar.no/thread/29571/view/708416  litt over, spurte Sente deg pent hva du lurer på, men du har ikke engang høflighet, folkeskikk og god nok oppdragelse til å svare!

Slutt å spamme ned tråder på HO med tull. Eller å ønsker du å fremstå som et NettTroll?

Redigert 31.07.2019 kl 16:59 Du må logge inn for å svare
Gi_Fan
01.08.2019 kl 06:06 1688

Kan vel være en (eneste?) grunn til at Woodford fortsatt sitter i Idex. Idex har vært en liten katastrofe for fondet og fondet trenger penger til folk som vil løse inn andelene sine, men fondet trenger også få kontroll på forholdet mellom noterte og unoterte. Og idex er notert selv om det i praksis ikke gjør aksjen mer likvid for Woodford som sitter på så stor andel i forhold til normal omsetning.
AlexEri
01.08.2019 kl 07:49 1648

Inte nog med att storägaren har enorma problem. Teknisk analys enligt norskbulls rekommenderar sälj i Idex Biometrics.
https://www.norskbulls.com/SignalPage.aspx?lang=en&Ticker=IDEX.OL

Hva sier Norske Bull i dag ?
Gi_Fan
01.08.2019 kl 10:05 1485

P&D slik vi så når Woodford startet nedsalget i thin?

Eller kanskje det er meldingen om et samarbeid uten tidsangivelser eller penger, kun samarbeidspartneres suksess (300M kort per år). Slikt har vi ikke sett fra idex før....
Redigert 01.08.2019 kl 10:06 Du må logge inn for å svare
Møyfrid
01.08.2019 kl 10:33 1435

Nei, det må være noe helt nytt...:-)
Sente
01.08.2019 kl 11:08 1393

Oppgangen kan ha sammenheng med at Zwipe+FPC har eller hadde avtale med Silone fra August 2018. Har Silone droppet Zwipe eller trenger Silone ekspertise?
"High volume manufacturing of biometric smart cards requires considerable expertise and this partnership with IDEX, the leader in off-chip sensing technology, will help us to meet our customers’ needs"
:)
Redigert 01.08.2019 kl 11:08 Du må logge inn for å svare
Reserven
01.08.2019 kl 11:26 1372

De som helt sikkert selger på hver melding er Abu Dhabi (BNP Paribas Securities Services), ned over 4 millioner aksjer siden begynnelsen av mai:
https://web.archive.org/web/20190513094434/https://www.idexbiometrics.com/investors/share-information/shareholders-2
https://www.idexbiometrics.com/investors/share-information/shareholders-2/


Sannsynligvis også Invesco, og muligens også Woodford Patient Capital Trust.
Redigert 01.08.2019 kl 11:29 Du må logge inn for å svare
Reserven
01.08.2019 kl 11:28 1374

Dette er diktaturet Kina. Der får "hvem som helst" en avtale mot bestikkelse.

Hvor mange av avtalene som IDEX de siste 20 årene har inngått med kinesiske firmaer/partnere, har resultert i volum salg?  INGEN

Redigert 01.08.2019 kl 11:32 Du må logge inn for å svare
Gi_Fan
01.08.2019 kl 11:40 1363

Nå er vel ikke det med null resultat unikt for idex sine Kina samarbeid/avtaler. Det gjelder nesten alle idex sine samarbeid/avtaler uavhengig av land. Idex har kun i et tilfelle levert mer enn "sample quantities" og det var til LG med et produkt de fikk "på kjøpet" når de kjøpte picofield, dvs ikke den fantastiske verdensledende off chip teknologien.
Reserven
01.08.2019 kl 11:40 1379

Eller for å si det på en annen måte, så har INGEN av de langt over 100 avtalene IDEX har inngått i løpet av sin 23 årige eksistens, resultert i volum salg. En prestasjon i seg selv å inngå avtale etter avtale uten resultater.

Skulle likt å sett avtaletekstene i avtalene til IDEX. Lite mer enn en middagsinvitasjon for å snakke om ???

Redigert 01.08.2019 kl 11:41 Du må logge inn for å svare
Reserven
01.08.2019 kl 11:43 1376

Verdensledende på off chip teknologi er kanskje ikke så vanskelig?
Eneste konkurrent vel NEXT?  Som har solgt ca dobbelt så mange sensorer som IDEX.

Fint med posetive strokes dag etter dag.hvor går veien videre?
Møyfrid
01.08.2019 kl 12:15 1339

Vanskelig å si.

Selv spådde jeg at vi ville se 1,50 ila 2019, og det fikk jeg rett i mye raskere enn jeg trodde.

Nå har jeg et kursmål på 0,40, men vil nok ta 8-24 mnd.

Deretter er det salg, eller konkurs.
Reserven
01.08.2019 kl 13:00 1306

Kursmål = 0,0000 før 01.04.2020 pga konkurs.
AlexEri
09.08.2019 kl 08:30 1027

Näst största innehavet i Woodford-fonden heter Burford Capital. Den aktien har rasat efter en blankarattack från Muddy Waters.
https://www.theguardian.com/business/2019/aug/07/burford-capital-shares-down-in-further-blow-to-neil-woodford?CMP=share_btn_tw

Aktien föll 65% men har dock återhämtat sig en del. Fortfarande rejält ner.

Er det bekreftet at det er "LF Woodford Equity Income Fund"(det terminerte fondet) som er på aksjonærlisten i IDEX? De har splittet posisjonen på to kontoer. Kan WF være representert med noen andre fond, enn det som er sperret?
Gi_Fan
16.08.2019 kl 14:56 867

Den største posten er Equity Income, den andre er Patient Capital. Det kan du få bekreftet ved å se på månedsrapportene fra WF fondene.
Jeg tror WF sitter stille i Idex fordi fondene i tillegg til store tap og mange uttak sliter med krav til andelen av unoterte i forhold til noterte. Idex er tross alt notert så for regulerende myndighet er den på "den rette" siden for WF

Et utdrag fra:
07.09.2019:   https://www.ft.com/content/63e2c334-d0f6-11e9-99a4-b5ded7a7fe3f

Northern Trust takes the reins on Woodford decisions
US bank to have final say on investment choices under new terms of £150m overdraft


«US bank Northern Trust will have final say over any further investments Neil Woodford makes in his namesake trust, in a fresh blow to the embattled UK stock picker.

The Woodford Patient Capital Trust said on Friday it had agreed to new terms with Northern Trust on a £150m overdraft facility provided by the Chicago-based bank.

In exchange, WPCT, which Mr Woodford has managed since it was launched with great fanfare in 2015, will have “greater flexibility around certain obligations” tied to its borrowing from the US bank as the trust seeks to sell some of its illiquid holdings.

The trust added that it had “agreed to make no further investments during this time without the prior consent of the lender”.

Late last month, the trust was forced to write down the value of its holdings in Industrial Heat, a US company attempting to harness cold fusion technology. That, in turn, left the trust’s overall borrowing higher as a percentage of its net asset value.

The new agreement caps another testing week for Mr Woodford, who on Monday saw a key ally step down from WPCT’s board. Steven Harris, the chief executive of Circassia Pharmaceuticals, in which Mr Woodford had a large holding, is leaving the board after four years.

The board, which has the power to dismiss Woodford Investment Management as manager of WPCT, came under fire earlier this year for being too close to the former UK star investor.
His poor performance led to the suspension in June of his flagship £3.1bn Equity Income fund.

Earlier this week Patient Capital, whose shares have fallen more than 40 per cent this year, was ejected from the mid-cap FTSE 250.»


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Det mest interessante i artikkelen er at Woodford kan bli fratatt forvaltningen av "Woodford Patient Capital Trust", største IDEX aksjonær med 28,36% av aksjene.

Da Woodford tidligere i år ble fratatt forvaltningen av "Old Mutual Woodford Equity Income Fund", valgte den nye forvalteren Artemis å selge IDEX aksjene så hurtig som mulig.

Redigert 07.09.2019 kl 13:52 Du må logge inn for å svare

Går an å dekke inn shorten nå?.. Kan fort bli brent ved positiv nyhetsstrøm nå i september som antydet i børsmeldinger og rapporter.

Ingen vits å dekke inn short enda. Er jo nå krisen begynner. Dette er jo deep shit for Woodford...og da for Idex-kursen.

Problemet er at melding om gjennombrudd som få tror på kan komme først...