KFL - discount to diluted NAV

[mike2020]

http://nzx-prod-s7fsd7f98s.s3-websit...873/333416.pdf

Summerset their star performer in the Sept quarter. KFLWF warrants are still trading well below their fair value in my opinion, see above.

This is the first time in a long time I have not held the warrants and what a mistake that has proven to be. From 7 cents this has to be a one of the top performers of 2020. No one listened to you did they Mr Beagle.

[Beagle]

Huge jump in NTA of just on 9 cents per share announced today to just nudging on $1.79 which I think is a new all time high. https://www.nzx.com/announcements/361563
I expect the exercise price of the Kingfish warrants KFLWF on 12 March 2021 to be $1.51 and on an adjusted and fully diluted basis I assess fair value of the warrants today at 22.4 cps.
(Opportunity knocks ! Quite an opportunity there with the last trade at 15.7 cps and plenty of offer at 16.5 cps).

Disc: I hold quite a few and intent to exercise my warrants and convert to shares on 12/03/21.
Big stakes in MFT, IFT, FPH, ATM SUM and others I don't own so this fills a lot of portfolio gaps for me and provides excellent diversification and moderates my risk while still enjoying awesome returns.

A reminder that Kingfish pay 2% per quarter (8% per annum) in PIE dividends based on asset value and this represents a ~ 12% gross return for 33% taxpayers.

This is the first time in a long time I have not held the warrants and what a mistake that has proven to be. From 7 cents this has to be a one of the top performers of 2020. No one listened to you did they Mr Beagle.

No and its very rare I leave a feed on the table and highlight the fact, Above is from 15 October, up 68% in just over a month. I have heaps already

[mikeybycrikey]

What is going on with KFL at the moment with the SP ($1.94) running about 11 cents ahead of the most recent NTA ($1.8257 on Wed)?

Given that it's often running at a 2% or 3% discount, what has got it to a 4% or 5% premium?

[alokdhir]

What is going on with KFL at the moment with the SP ($1.94) running about 11 cents ahead of the most recent NTA ($1.8257 on Wed)?

Given that it's often running at a 2% or 3% discount, what has got it to a 4% or 5% premium?

Its called demand / supply mismatch ....better to stay away . Real NAV after dilution on 17th march is extra 6 cents less then being reported . So almost 9% premium ...funny stuff .

Holders happy to hold ...buyers desperate to buy

[Beagle]

People are prepared to pay for top performing funds. Is it really that surprising that people are chasing a reliable tax free PIE yield of 2% per quarter in this zero interest rate environment ?

[Beagle]

Huge jump in NTA of just on 9 cents per share announced today to just nudging on $1.79 which I think is a new all time high. https://www.nzx.com/announcements/361563
I expect the exercise price of the Kingfish warrants KFLWF on 12 March 2021 to be $1.51 and on an adjusted and fully diluted basis I assess fair value of the warrants today at 22.4 cps.
(Opportunity knocks ! Quite an opportunity there with the last trade at 15.7 cps and plenty of offer at 16.5 cps).

Disc: I hold quite a few and intent to exercise my warrants and convert to shares on 12/03/21.
Big stakes in MFT, IFT, FPH, ATM SUM and others I don't own so this fills a lot of portfolio gaps for me and provides excellent diversification and moderates my risk while still enjoying awesome returns.

A reminder that Kingfish pay 2% per quarter (8% per annum) in PIE dividends based on asset value and this represents a ~ 12% gross return for 33% taxpayers.

From last month. KFLWF now bid 30 cents, nearly doubled in a month. I could very, very easily have bought all the warrants on offer at 16.5 cents but I chose to magnanimously highlight this extremely lucrative opportunity for others. Going off some recent comments in the ATM thread I'd be easily forgiven for thinking I have a large number of haters.

I like to think I make a positive difference for people and try too but I think I am often misunderstood. Above is one of countless times over more than a decade and 17,000 posts I have tried to highlight opportunities for others benefit and to point out risks. Sadly...I think its well and truly overdue that I reassess how much time I spend on this forum.

[keerti]

Hi Beagle,

I am extremely grateful for your advise and take all your suggestions very very seriously. I have missed this because of lack of understanding of the Warrants.
Please continue posting in the forum, you and other old members are invaluable to the group.

Thanks,
Keerti

[Bev73]

[QUOTE=keerti;859265]Hi Beagle,

I am extremely grateful for your advise and take all your suggestions very very seriously. I have missed this because of lack of understanding of the Warrants.
Please continue posting in the forum, you and other old members are invaluable to the group.


Yes, I agree wholeheartedly. Very grateful for Beagle's input

[FatTed]

Hi Beagle,

I am extremely grateful for your advise and take all your suggestions very very seriously. I have missed this because of lack of understanding of the Warrants.
Please continue posting in the forum, you and other old members are invaluable to the group.

Thanks,
Keerti

Same here, Look forward to your posts.

[exwesty]

From last month. KFLWF now bid 30 cents, nearly doubled in a month. I could very, very easily have bought all the warrants on offer at 16.5 cents but I chose to magnanimously highlight this extremely lucrative opportunity for others. Going off some recent comments in the ATM thread I'd be easily forgiven for thinking I have a large number of haters.

I like to think I make a positive difference for people and try too but I think I am often misunderstood. Above is one of countless times over more than a decade and 17,000 posts I have tried to highlight opportunities for others benefit and to point out risks. Sadly...I think its well and truly overdue that I reassess how much time I spend on this forum.

March will be expensive, but hopefully lucrative. I'm sitting on 100K KFLWF.