Marlin

[tim23]

I think with the premium so large could be significant downside, I mean imagine if they went back to a discount situation- sub 80c

[alokdhir]

Retail capitulation if happens then going back to discount is a distinct possibility

[777]

Just for accuracy, the NTA announced on Thursday last was 87.49c as at 14/6/22. So at 1.03 the premium is 17.73%.

The markets did move of course. Up on Wednesday and down again on Thursday and down again on Friday.

Not a holder at present.

[teabag]

I must confess I have never understood how the three fishes could trade at such a high premium to market. If they keep up their 8% "dividend", this must surely eat further into their NTA over time

[alokdhir]

I must confess I have never understood how the three fishes could trade at such a high premium to market. If they keep up their 8% "dividend", this must surely eat further into their NTA over time

Only if market keeps going down or remains subdued for 2-4 quarters more ....

[Sideshow Bob]

Will be interesting to see how this works out.....


https://www.nzx.com/announcements/400773

he directors of Marlin Global Limited (Marlin) are pleased to announce that the company will undertake a pro rata offer of warrants to shareholders.

The purpose of the offer is to raise capital as part of Marlin’s ongoing capital management programme and provide investors the ability to purchase additional shares in Marlin at a pre-determined Exercise Price. The offer also aims to increase the size of the portfolio and improve operational efficiency. The net proceeds of the offer are expected to be used for further investment in the Marlin portfolio.

On the record date, Marlin shareholders will be issued one warrant for every four shares held. The record date for the issue is 2 November 2022 and the warrants are expected to be allotted on 3 November 2022.

Each warrant gives shareholders the right, but not the obligation, to subscribe for one additional ordinary share in Marlin on the exercise date. The exercise date is 10 November 2023.

The exercise price will be $0.99 less any dividends declared with a record date during the period commencing on the date of allotment of the warrants and up to the announcement of the final exercise price. The final exercise price will be calculated and advised to warrant holders at least six weeks before the exercise date.
The warrants are expected to be quoted on the NZX Main Board from 4 November 2022 under the issuer code MLNWF.

[Rawz]

META is down 20% in aftermarket trading after missing earnings estimates.

META is in the top 5 holdings for MLN at 7%

[SPC]

20% off the value of 7% of the portfolio isn't going to do much harm.

[Rawz]

20% off the value of 7% of the portfolio isn't going to do much harm.

Yeah i guess.

META is down 80% from its peak. Wow. Something like $300b in value gone.

MLN true believers. Held all the way down. Respect

[SPC]

Yes, brave to say the least.
I've said before that at times they remain totally in love with self proclaimed high conviction stocks long after the divorce papers should have been filled.
I would expect bottoms to be smacked at the appropriate times by the board, if they're doing their job of course..