BRM - New Warrant Issue for Barramundi

[Basil]

Interesting...buying back their own shares at 73 cents.  https://www.nzx.com/announcements/426885

[winner (n)]

Interesting...buying back their own shares at 73 cents.  https://www.nzx.com/announcements/426885

Wouldnt they be better off buying more carsales.com or something

[Basil]

Wouldnt they be better off buying more carsales.com or something

It would seem I am not the only one updating NAV almost every day because they have worked out that at 73 cents it's at a greater than 6% discount to NAV.  Shame BRM can't buy Turners eh 

[sideline]

It is an easy choice - in 30 days BRM are dishing out quite a few shares on the DRP.
Last time it was around 2.2m shares.
If they can buy them now at 6% discount and hand them back to shareholders at 3% discount
in 30 days the 3% saving is annualised about 43% return!
Better than having the money sitting on some bank account.
Now, where can they find another 2.2m discounted shares......

[Toddy]

Good news. This sets a clear bottom price for BRM where it can expect support.

Dump a few underperforming stocks and buy back your own shares.

Warren Buffet 101 in action.

[Toddy]

Wise Tech has been a good investment.

[Basil]

NAV @ ASX close today by my spreadsheet calculation after adjusting for performance fee accrual = 78.49 cps

Wise Tech up very nicely today.

[Basil]

Flat day on the ASX, down 0.03%, but BRM NAV up very nicely to 79.06 cps by my estimate. 

[Toddy]

With the head share at 73 cents the disconnect with NAV is more of a reflection on the NZX being out of step.

[Basil]

Flat day on the ASX, down 0.03%, but BRM NAV up very nicely to 79.06 cps by my estimate. 

Actual NAV 79.60 cents, more than half a cent above what my spreadsheet suggested.  I'm not complaining!
Probably exchange rate related because I'm not accounting for that in my model.
http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/BRM/427127/413962.pdf

[Basil]

BINGO !  ASX close today at end of month by my spreadsheet calculation after adjusting for performance fee accrual NAV = 80.00 cps !
Disc: Bought a few more today at 74 cents.

[Toddy]

It's a great portfolio.

I was slightly distracted today with my NZ oil and gas shares that came to life.

Some people will get a shock when they see 80 cents nav for month end BRM.

[Sideshow Bob]

BINGO !  ASX close today at end of month by my spreadsheet calculation after adjusting for performance fee accrual NAV = 80.00 cps !
Disc: Bought a few more today at 74 cents.

And going ex-div in under a week....... 

[Basil]

Hope it is 80.  Exchange rates from even one day to another can make a difference.  We'll know later today when they report month end NAV.
If it is, that would cap a very good month for the BRM portfolio up 4.7%, (compared to the ASX200 up 0.6% in February), backing up after a good month in January and not forgetting very strong months in Nov and Dec 2023.  Annual inflation data the other day in Australia also very encouraging, was 3.2 or 3.1, sorry, can't remember which, compared to 4.7% here.  Chances are, interest rates ease over there a lot earlier than N.Z. and an economic recovery starting much sooner.

[Toddy]

Your spreadsheet is working fine. I'm picking with the renewed confidence that the fund managers have dumped a few of the underperforming positions. Like Wow for example.