2017 Performance c+37%, Not bad, but never enough….

Just done my final performance numbers for 2017 – I recon the figure will come out at +c37%.

This isnt bad compared to FTSE AS Total return in GBP of 12%.  Volatility has been minimal – maximum monthly drawdown was 3.8%.

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Tejoori #TJI – Vote FOR delisting, potential 20% quick gain

Good news on Tejoori – they are delisting and returning cash.

There is something of a hurdle to be reached as they need 75% of shareholders to vote in favour of delisting in order to get the cash back.  Cash is worth about $0.63 a share – less delisting / liquidation costs.

Though the spread is quoted as $0.47-0.52 you can actually buy at 0.5 in reasonable size.

Tejoori 37c tender offer – don’t accept, its worth almost double…

Just got a notice from my broker – Hargreaves Lansdown that there has been a 0.37c tender offer for all of Tejoori from Southey Capital Ltd.

There havent been any RNS’s about this so many in the market may not yet know.

I have had a think about this and I won’t be accepting.

Selling DCI – Delay in returning cash / Portfolio update

Changed my mind on DCI.  This is not to say I wont get back in if the price falls more.

I am getting out more or less flat. Announcement that they are going to use Pearl Island cash for working capital and that:

“ The Board will re-evaluate the Company’s distribution potential when there is more clarity on the pace of additional disposals.”

Makes me think selling these assets may take a while longer than I initially expected… I’m also more concerned about the price… I always was a bit concerned about the quality of this one…

Review of 2016 + 33%

2016 is almost over so I thought I would go through what worked, what didnt and my plans for 2017.

+33% is OK – FTSE100 is up 14%, 250 up 3% AIM all share 14%.  Peak to trough draw-downs across these are about 10% where as my portfolio (OK measured monthly) was only down 5% from peak at its worst.

My review of 2015 is interesting putting this in context.  I anticipated that TRB and SIHL would do well but not that I would come up with other good ideas or that TJI would do well.

Tejoori – Anyone interested in some activism ?

 

I may be interested in engaging with management in a more forceful manner.

In particular i am concerned with management’s statement in their last RNS that they will use funds raised:

“for Tejoori to investigate further investment opportunities in line with its investing policy”

If you guys could contact me via the website with your holdings (in shares) I can have some idea how many people would support action on this and how many votes I may or may not have.

Every little helps – I believe according to the articles that 10% is needed to propose a resolution.

RHM – potential delisting

Very unhappy to read latest RNS from RHM.  Already feeling ill and this has made me worse!

Tejoori – Halved in price so lets buy more

Received a few questions on Tejoori.

Basically along the line of its halved in price on no news for no reason – whats going on ?

Its fallen from 9.5p when I bought it to about 3.5p now – a cool 60% fall.

(Original post here)

This is purely down to illiquidity there have been a few big sales – pushing the price down. A big sale in this stock is $50k – not a large ammount in the context of assets of $28m – many of which are cash…

Tejoori – Potential 5/10 bagger and Sharia Compliant!

Tejoori is an AIM listed investment company. Its current market cap is $2.6m. It has a a book value of $26.8m USD.

It has little debt, reasonably low fees and cash and Wakala deposits of $3.6m USD – far in excess of the current market cap.