bigfoot12
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Post by bigfoot12 on Mar 2, 2020 21:36:24 GMT
Any thoughts on Pollen Street Secured Lending (PSSL)? Background - See, for example Morningstar- PSSL has traded in 820p-850p range for a while.
- PSSL think that the NAV is closer to 965p.
- Last week Waterfall suggested that they might make a 900p cash offer, but asked for more information.
- Pollen Street Capital (PSC) says that Waterfall is a competitor and the information that they ask for is unreasonable and refuse.
- PSSL serves PSC notice.
- Share price in the meantime spikes to about 895p and then falls back to about 845p.
I have held shares in PSSL for a while. Any thoughts?
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SteveT
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Post by SteveT on Mar 3, 2020 8:42:18 GMT
I bought in at 740p in late 2016 (something like 25% discount to NAV at the time) so the effective yield has been >6% over the last 3+ years. I'm happy to go with the flow and hold for now. 900p would be fine by me (or 850p, for that matter).
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bigfoot12
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Post by bigfoot12 on Mar 3, 2020 8:48:39 GMT
I think that you can sell at 856p now in the open market.
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SteveT
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Post by SteveT on Mar 3, 2020 9:12:35 GMT
I think that you can sell at 856p now in the open market. Indeed. I meant that I wouldn't grumble if the end result were a sale to Waterfall (or whoever) for 850-900p. Happy to hold for the divs otherwise.
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Mike
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Post by Mike on Mar 10, 2020 10:31:07 GMT
sub-800p now, following interesting public developments. t/o appears unlikely to happen (without more fighting, at least)
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