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Andy JR
Posted: 03 March 2023 13:16:05(UTC)
#939

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Mr GL;259334 wrote:
npf;259247 wrote:
Looks like they're doing the same again today. Two big blocks of 25,000 shares so far.

RIT CAPITAL PARTNERS PLC (LEI: P31Q1NLTW35JJGHA4667)
TRANSACTION IN OWN SHARES

RIT Capital Partners plc (the "Company") announces that it has purchased the following number of its ordinary shares of £1 each on the London Stock Exchange. The purchased shares will be held in treasury.
Ordinary Shares

Date of purchase:
2 March 2023

Number of ordinary shares purchased:
115,000

Price paid per share:
£20.01


Following the share buyback the Company's issued ordinary share capital consists of 156,848,065 ordinary shares, 1,004,863 of which shares (being 0.64% of the Company's total issued share capital) are held in treasury.
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Big boy on 06/03/2023(UTC)
Mr GL
Posted: 06 March 2023 07:07:59(UTC)
#940

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Ordinary Shares
Date of purchase:
3 March 2023

Number of ordinary shares purchased:
50,000

Price paid per share:
£20.13

***This is a 17.5% discount to their end of Jan NAV of 2440p
In their annual results last week they wrote "Where not precluded by being in a closed period or approaching an imminent publication of NAV, we have continued seeking to capture value for shareholders by buying back shares as we approached a high single-digit discount."....
I wonder if they will continue this policy this year... implies a target for RCP of 2198p which is a 9.9% discount... (and 2198p is 9.2% higher than most recent buyback)
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Big boy on 06/03/2023(UTC), bill xxxx on 06/03/2023(UTC), Rocca Billy on 06/03/2023(UTC), William P on 06/03/2023(UTC), Auric on 07/03/2023(UTC)
Big boy
Posted: 06 March 2023 07:44:56(UTC)
#945

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Mr GL;259591 wrote:
Ordinary Shares
Date of purchase:
3 March 2023

Number of ordinary shares purchased:
50,000

Price paid per share:
£20.13

***This is a 17.5% discount to their end of Jan NAV of 2440p
In their annual results last week they wrote "Where not precluded by being in a closed period or approaching an imminent publication of NAV, we have continued seeking to capture value for shareholders by buying back shares as we approached a high single-digit discount."....
I wonder if they will continue this policy this year... implies a target for RCP of 2198p which is a 9.9% discount... (and 2198p is 9.2% higher than most recent buyback)


The issue is how much stock will they have to buy back to reach the target. I am happy with 15% discount and will be out as before.
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William P on 06/03/2023(UTC)
Mostly Rational
Posted: 06 March 2023 09:44:18(UTC)
#941

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Mr GL;259591 wrote:
In their annual results last week they wrote "Where not precluded by being in a closed period or approaching an imminent publication of NAV, we have continued seeking to capture value for shareholders by buying back shares as we approached a high single-digit discount."....
I wonder if they will continue this policy this year... implies a target for RCP of 2198p which is a 9.9% discount... (and 2198p is 9.2% higher than most recent buyback)


I expect that they will at least in the short term, and if they stop buying shares in the coming days the reason would be the Feb NAV release. There isn't sufficient data to be sure this is their policy, but I could find no past buybacks conducted in a one week period preceeding a NAV release.
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William P on 06/03/2023(UTC), bill xxxx on 07/03/2023(UTC), Auric on 07/03/2023(UTC)
Mostly Rational
Posted: 08 March 2023 22:59:36(UTC)
#942

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Mostly Rational;259603 wrote:
There isn't sufficient data to be sure this is their policy, but I could find no past buybacks conducted in a one week period preceeding a NAV release.


I didn't particularly want to be right about this, but it looks like they probably bought no shares today and this would be about a week before they normally announce the previous month's NAV. I guess prices are probably heading south for the next week.
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Mr GL
Posted: 09 March 2023 07:55:05(UTC)
#943

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Mostly Rational;259877 wrote:
Mostly Rational;259603 wrote:
There isn't sufficient data to be sure this is their policy, but I could find no past buybacks conducted in a one week period preceeding a NAV release.


I didn't particularly want to be right about this, but it looks like they probably bought no shares today and this would be about a week before they normally announce the previous month's NAV. I guess prices are probably heading south for the next week.


did you see the director purchase of £420k worth...

RBC Trustees (Guernsey) Limited as trustees of Nisaki Family Trust
2
Reason for the notification
a)
Position/status
PCA to a Director, Philippe Costeletos, who is a beneficiary of the Nisaki Family Trust

Price
Volume
2,005p
20,860
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bill xxxx on 09/03/2023(UTC), Rocca Billy on 09/03/2023(UTC), dlp6666 on 09/03/2023(UTC), Phil 2 on 09/03/2023(UTC), Auric on 18/03/2023(UTC)
Logic Prophets
Posted: 10 March 2023 10:47:33(UTC)
#944

Joined: 23/07/2018(UTC)
Posts: 1,636
Mr GL;259892 wrote:
Mostly Rational;259877 wrote:
Mostly Rational;259603 wrote:
There isn't sufficient data to be sure this is their policy, but I could find no past buybacks conducted in a one week period preceeding a NAV release.


I didn't particularly want to be right about this, but it looks like they probably bought no shares today and this would be about a week before they normally announce the previous month's NAV. I guess prices are probably heading south for the next week.


did you see the director purchase of £420k worth...

RBC Trustees (Guernsey) Limited as trustees of Nisaki Family Trust
2
Reason for the notification
a)
Position/status
PCA to a Director, Philippe Costeletos, who is a beneficiary of the Nisaki Family Trust

Price
Volume
2,005p
20,860


£420k might seem a lot of money to us but what percentage is it of the family trust?
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Logic Prophets
Posted: 13 March 2023 11:28:11(UTC)
#946

Joined: 23/07/2018(UTC)
Posts: 1,636
I did say somewhere in here that I’d probably consider buying at £18.00-£18.50.

Still convinced that something is definitely amiss with PE valuations! Maybe the SVB debacle will unearth other general PE/VCP structural weaknesses in the coming weeks. The speed at which the government moved this weekend with HSBC buying SVB for a pound tells me there is (or was) a serious risk of contagion. Was this a favour from HSBC to the government?
Looks like we learned a lot from 2008.

Will follow this closely now. Covid crash saw RCP hitting £15.00 but I doubt very much we are going anywhere near there…. or are we ?

Edit.. or maybe generally, ‘the bear market rally’’ is over and we are at the start of the next leg down. Might explain why the so called ‘wealth preservers’ (not RCP) have dropped recently… could be general liquidity raising ready for a drop. If anyone knows the answers…
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Mr GL on 13/03/2023(UTC), SF100 on 13/03/2023(UTC), dlp6666 on 13/03/2023(UTC), Low Returns on 13/03/2023(UTC)
Jimbo69
Posted: 13 March 2023 11:41:58(UTC)
#948

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I'm watching this too - personally i think that £18- £18.50 is reasonable entrypoint as it hits a 2% yield. The SP dropped to £15ish in the immediate aftermath of covid but seem to hover in the £18 range for the remainder of 2020.
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Logic Prophets on 13/03/2023(UTC), Auric on 18/03/2023(UTC)
Thrugelmir
Posted: 13 March 2023 11:51:58(UTC)
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Logic Prophets;260514 wrote:

The speed at which the government moved this weekend with HSBC buying SVB for a pound tells me there is (or was) a serious risk of contagion.


That's the function of the BOE to maintain financial stability. No time for due diligence. The £1 consideration reflects the fact that that HSBC are taking on all the risk. Remember LLoyds came a cropper buying HBOS. Five months after the acquisition they had determined that around the quality of around 35% the loan book was poor. Business they themselves would never have written.

SVB only has around £100 million of assets. When the RBS Group went under in October 2008. The balance sheet size was £2.2 trillion. The largest bank in the world. For perspective of this figure the annual UK GDP was some £1.6 trillion at the time.
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4 users thanked Thrugelmir for this post.
Logic Prophets on 13/03/2023(UTC), dlp6666 on 13/03/2023(UTC), Low Returns on 13/03/2023(UTC), Auric on 18/03/2023(UTC)
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