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
IDEX vil nok straks reprises mot peers... Da snakker vi et fall på 85% til 43øre
Redigert 21.01.2021 kl 09:37
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Du har virkelig STORE problemer med å slutte med personfokuseringen: "må ha truffet en nerve?"
Hva med heller å imøtegå/diskutere mine synspunkter på at «Bloomberg» ikke tar noen leveranser fra IDEX, og at IDEX heller ikke får andre ordre, før finansiering for flere år fremover er sikret?
Hva med heller å imøtegå/diskutere mine synspunkter på at «Bloomberg» ikke tar noen leveranser fra IDEX, og at IDEX heller ikke får andre ordre, før finansiering for flere år fremover er sikret?
Redigert 21.01.2021 kl 07:02
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Fornøyelig å få så mye oppmerksomhet, må ha truffet en nerve? Spillet er binært og høy risiko. Selvsagt. God natt, så snakkes vi til uka.
PS: synd du ikke var/er short. Det hadde jo vært svært lønnsomt.
PS: synd du ikke var/er short. Det hadde jo vært svært lønnsomt.
Redigert 21.01.2021 kl 07:02
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Back in Black: "Reserven: så hvorfor skriver du om en aksje du ikke har interesse av verken long eller short?"
Forklarte jeg i dette innlegget:
https://finansavisen.no/forum/thread/46049/view/862097
Problemet ditt er at du ønsker at andre ukritisk skal tro på alt du skriver, mens du selv nekter å tro på det andre skriver, spesielt det som ikke passer deg.
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Back in Black: "Nei, forresten denne galeien med personfokusering får du meg ikke inn på."
Men du bedriver jo personfokusering i nesten hvert eneste innlegg du skriver, ved å fokusere på personene bak kritiske innlegg. Senest ved i neste setning å spørre: "Håper du har det bra på en lørdagskveld?"
Istedenfor å skrive noe dokumentarbart positivt om IDEX.
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Back in Black: "Håper du har det bra på en lørdagskveld?"
Takk, aldeles utmerket.
Som pensjonist skiller lørdag og søndag seg ikke nevneverdig ut fra andre ukedager, bortsett ifra at jeg ikke sjekker aksjekurser.
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Back in Black:
"Ordren er på noen mill målt i USD, og det er den største noensinne. Ikke det vi venter på, men fortsatt et signal om at noe mer er på gang."
At ordren på noen millioner USD er "et signal om at noe mer er på gang" vet du ingen ting om.
IDEX har ALLTID børsmeldt hver minste leveranse av sensorer. Så hadde IDEX startet å levere sensorer til "major global information and technology company", så hadde de børsmeldt det. Når IDEX ikke har gjort det, har de ennå ikke levert noen sensorer iht avtalen børsmeldt i
https://newsweb.oslobors.no/message/475500
Børsmeldingen sier at sensorene skal leveres over de neste 3 årene, og at leveransene starter i 2019-H2 som det fortsatt er 4 måneder igjen av.
IDEX-haussere spekulerer i at kunden er Bloomberg. Isåfall har «Bloomberg» mer enn nok data til enkelt og hurtig å regne ut at IDEX er konkurs om 4 måneder, mm de klarer å hente ytterligere finansiering, og da finansiering for minimum 3 år, slik at «Bloomberg» er sikker på at de får levert alle sensorene, samt kan få oppfølging, support, kundestøtte, og byttet ut evt feilvare. Med 1-2 års garantitid må IDEX egentlig kunne garantere at de er finansiert ut 2024.
At IDEX klarer å hente NOK 750 millioner, for med dagens burnrate å kunne garantere at de lever ut 2022, eller sågar over 1 milliard kroner for å kunne leve ut 2024, har jeg null tro på. Videre er jeg overbevist om at «Bloomberg» ikke tar noen leveranser fra IDEX og betaler før de er 100% trygge på at IDEX minst lever ut 2022.
Og med mulig konkurs om 4 måneder, samt nær null track-record, er det heller ingen andre som bestiller noe fra IDEX før finansiering for flere år fremover er sikret. Det er noe enhver som har jobbet i seriøse firmaer i privat næringsliv/industri, vet.
Redigert 21.01.2021 kl 07:02
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Reserven: så hvorfor skriver du om en aksje du ikke har interesse av verken long eller short? Nei, forresten denne galeien med personfokusering får du meg ikke inn på. Håper du har det bra på en lørdagskveld?
Ordren er på noen mill målt i USD, og det er den største noensinne. Ikke det vi venter på, men fortsatt et signal om at noe mer er på gang. Enten skjer det nå, ellers så aldri...
Ordren er på noen mill målt i USD, og det er den største noensinne. Ikke det vi venter på, men fortsatt et signal om at noe mer er på gang. Enten skjer det nå, ellers så aldri...
Redigert 21.01.2021 kl 07:02
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Takk for rådet som jeg ignorer. Mest fordi jeg IKKE er short, men tro gjerne noe annet hvis du ønsker, kunne ikke interessert meg mindre.
Redigert 21.01.2021 kl 07:02
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nerfherder
07.09.2019 kl 18:11
4400
Hvor mye bidrar den store de har fått til kassen?
Redigert 21.01.2021 kl 07:02
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Så har de fått en større ordre i det siste, det vitner om at mer kan komme? Vi venter på to konkrete. En Kina og en Mexico med MC. I Q3.
Edit: UK er også på overtid?
Edit: UK er også på overtid?
Redigert 21.01.2021 kl 07:02
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nerfherder
07.09.2019 kl 16:13
4416
Blir vel litt som å sitte med 2 og 6 i poker og satse penger på at man kanskje kan få street. Funker som regel ikke.
Redigert 21.01.2021 kl 07:02
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Problemet er at melding om gjennombrudd som få tror på kan komme først...
Redigert 21.01.2021 kl 07:02
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nerfherder
07.09.2019 kl 15:10
4480
Ingen vits å dekke inn short enda. Er jo nå krisen begynner. Dette er jo deep shit for Woodford...og da for Idex-kursen.
Redigert 21.01.2021 kl 07:02
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Går an å dekke inn shorten nå?.. Kan fort bli brent ved positiv nyhetsstrøm nå i september som antydet i børsmeldinger og rapporter.
Redigert 21.01.2021 kl 07:02
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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.
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.»
----- ----- ----- ----- ----- -----
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 21.01.2021 kl 07:02
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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
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
Redigert 21.01.2021 kl 07:02
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H-Capital
16.08.2019 kl 14:48
4904
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?
Redigert 21.01.2021 kl 07:02
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AlexEri
09.08.2019 kl 08:30
5058
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.
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.
Redigert 21.01.2021 kl 07:02
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Kursmål = 0,0000 før 01.04.2020 pga konkurs.
Redigert 21.01.2021 kl 07:02
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Møyfrid
01.08.2019 kl 12:15
5371
Billyjojimbob skrev Fint med posetive strokes dag etter dag.hvor går veien videre?
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.
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.
Redigert 21.01.2021 kl 07:02
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Billyjojimbob
01.08.2019 kl 12:04
5381
Fint med posetive strokes dag etter dag.hvor går veien videre?
Redigert 21.01.2021 kl 07:02
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Verdensledende på off chip teknologi er kanskje ikke så vanskelig?
Eneste konkurrent vel NEXT? Som har solgt ca dobbelt så mange sensorer som IDEX.
Eneste konkurrent vel NEXT? Som har solgt ca dobbelt så mange sensorer som IDEX.
Redigert 21.01.2021 kl 07:02
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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 ???
Skulle likt å sett avtaletekstene i avtalene til IDEX. Lite mer enn en middagsinvitasjon for å snakke om ???
Redigert 21.01.2021 kl 07:02
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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.
Redigert 21.01.2021 kl 07:02
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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
Hvor mange av avtalene som IDEX de siste 20 årene har inngått med kinesiske firmaer/partnere, har resultert i volum salg? INGEN
Redigert 21.01.2021 kl 07:02
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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.
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 21.01.2021 kl 07:02
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Sente
01.08.2019 kl 11:08
5428
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"
:)
"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 21.01.2021 kl 07:02
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Møyfrid
01.08.2019 kl 10:33
5471
Nei, det må være noe helt nytt...:-)
Redigert 21.01.2021 kl 07:02
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MaxMekker skrev Hva sier Norske Bull i dag ?
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....
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 21.01.2021 kl 07:02
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MaxMekker
01.08.2019 kl 09:50
5560
Hva sier Norske Bull i dag ?
Redigert 21.01.2021 kl 07:02
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AlexEri
01.08.2019 kl 07:49
5684
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
https://www.norskbulls.com/SignalPage.aspx?lang=en&Ticker=IDEX.OL
Redigert 21.01.2021 kl 07:02
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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.
Redigert 21.01.2021 kl 07:02
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Noni skrev Ikke fått noe fra Sente.
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?
Slutt å spamme ned tråder på HO med tull. Eller å ønsker du å fremstå som et NettTroll?
Redigert 21.01.2021 kl 07:02
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Noni
31.07.2019 kl 16:05
5876
Ikke fått noe fra Sente.
Redigert 21.01.2021 kl 07:02
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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.»
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.»
Redigert 21.01.2021 kl 07:02
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AlexInvest
31.07.2019 kl 07:43
6015
Er det noen her som fortsatt har troen? 😂
Redigert 21.01.2021 kl 07:02
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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.»
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.»
Redigert 21.01.2021 kl 07:02
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Sente
30.07.2019 kl 13:33
6172
Noni skrev Sr ut som jeg ikke får noe fra Sente.
Hva er det du lurer på Noni?
Redigert 21.01.2021 kl 07:02
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Noni
30.07.2019 kl 11:23
6245
Sr ut som jeg ikke får noe fra Sente.
Redigert 21.01.2021 kl 07:02
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Noni
30.07.2019 kl 11:20
6245
Ikke sett noe nå heller.
Redigert 21.01.2021 kl 07:02
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Noni
30.07.2019 kl 11:17
6250
Sendte; Har ikke sett noe.
Redigert 21.01.2021 kl 07:02
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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.»
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 21.01.2021 kl 07:02
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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.
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 21.01.2021 kl 07:02
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