Overview
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News
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07 May 2021 1 min read
QuotedData’s weekly news show 7 May 2021
QuotedData’s weekly news show 7 May 2021 Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on Youtube. In this week’s show, James Carthew covered the week’s top stories: Biotech & Biden Sherbone Investors selling its’ stake in Barclays John Laing in talks with KKR about a […]
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21 Aug 2019 1 min read
Sherborne C investors nursing 50% loss
Sherborne C investors nursing 50% loss – Investors who stumped up a pound a share to fund Sherborne Investors C now find that it is trading at a new low of 50p per share. That’s a meaningful discount to its asset value, prompting the question – why doesn’t an activist look to wind it up? […]
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18 Apr 2018 1 min read
Sherborne continues its investment strategy through Electra
Sherborne continues its investment strategy through Electra – Sherborne Investors (SIGB), which owns 29.9% of the shares of Electra Private Equity (ELTA) as its only investment, has released its annual report for the year ended 31 December 2017. The NAV of Sherborne delivered a total return of 9.5% and the share price rose by 25.7% on the same basis. […]
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19 Mar 2018 1 min read
Sherborne ends speculation, takes Barclays stake
Sherborne ends speculation, takes Barclays stake – this morning, Barclays PLC has announced that Sherborne controlled entities (notably Sherborne Investors (Guernsey) C Limited) have acquired voting rights over 5.16% of its issued share capital. Barclays says that it will continue to engage with Sherborne, and welcomes them as a shareholder. Sherbone has released an announcement […]
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21 Nov 2017 1 min read
Investment Trust Insider on Sherborne
Investment Trust Insider on Sherborne James Carthew: the trusts that could be Sherborne’s next takeover target At the beginning of July 2017, Sherborne Investors C (SIGC) raised £700 million to ‘realise capital growth from investment in a target company identified by the investment manager with the aim of generating a significant capital return for shareholders.’ […]
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09 Dec 2016 1 min read
Electra delivers impressive NAV performance
Over the year to the end of September 2016, Electra‘s NAV rose by 35% to 5,149p. The share price ended the period at 4,310p, a total return of 36% for the year. The largest individual gains were generated by: Parkdean Resorts (GBP188 million), AXIO (GBP130 million), Hollywood Bowl (GBP94 million), Elian (GBP79 million) and Allflex (GBP53 […]
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05 Nov 2015 1 min read
Sherborne wins!
Shareholders in British private equity firm Electra voted in favour of activist investor Edward Bramson and Sherborne’s Chairman, Ian Brindle being appointed to the board at a general meeting today. Shareholders voted 53.5 percent in favour of the resolution by Bramson’s investment vehicle Sherborne to appoint Bramson to the board. Sherborne Investors, which owns 30 per […]
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02 Oct 2015 1 min read
Keeping it in the family can benefit investment trusts
Recent attempts by Sherborne Investors (SIGB) to take over the board of Electra Private Equity investment trust (ELTA) is an example of where a large shareholder can exert a great deal of control and influence over an investment trust – whether the small private shareholders want it to or not. However, some instances where having […]
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07 Aug 2015 1 min read
Sherborne Investors reiterates pledge not to bid for Electra
Sherborne’s net asset value fell by 1.5% over the six months ended 30 June 2015 to a level of 104.47p. The shares were trading at a discount of 3.3% to this NAV at the end of the period but the share price had climbed by 6.3% over the first half. By contrast Electra‘s shares rose by 4.9% […]
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26 Feb 2015 1 min read
Sherborne reports disappointing results
Sherborne Investors results for the year ended 31 December 2014 show the fund generating a return of 11.16% on net assets over the year. This is a lot better than the return on the FTSE All-Share Index but Sherborne Investors has just one investment – Electra Private Equity. Electra’s share price rose by 27% over […]
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25 Feb 2015 1 min read
Sherborne threatens new requisition for Electra
Sherborne Investors has written to the Board of Electra proposing a resumption of discussions about board representation and participation in an expanded review of options to increase Electra’s shareholder value and threatening to requisition a meeting of shareholders if Ian Brindle, Edward Bramson and a new independent director aren’t appointed to the board of Electra. Given the resounding rejection […]
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23 Dec 2014 1 min read
Electra – more deals, Sherborne still buying
Electra Private Equity has announced that Axio Data Group, one of the companies it owns, has sold a specialist logistics intelligence business, Breakbulk, to ITE, the exhibitions group, for £10m. With this deal Electra has taken £76m in cash out of Axio, a business it paid £91m for in 2013, yet Axio still owns five other […]
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06 Oct 2014 1 min read
Electra defeats Sherborne
ELTA : Electra defeats Sherborne Electra Private Equity has announced that at the meeting held today all the resolutions put forward by Sherborne were rejected by shareholders – the full results of the voting are shown below. 1. That Mr. Edward Bramson be and is hereby appointed as a director of the Company. Votes for 11,008,318 (38.22%), Votes against 17,796,709 (61.78%) 2. That […]
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22 Sep 2014 9 min read
Electra responds to Sherborne
ELTA : Electra responds to Sherborne Electra Private Equity has responded to Sherborne’s letter to Electra shareholders. The response is so detailed that we have taken the unusual step of reproducing it in full below. Electra Private Equity PLC (“Electra” or the “Company”) notes the letter from Sherborne Investors Management (Guernsey) LLC (together with its […]
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17 Sep 2014 1 min read
Sherborne discloses why it targeted Electra
ELTA : Sherborne discloses why it targeted Electra Sherborne has today published a long letter that it is asking Electra to send to its shareholders that sets out its reasons for targeting Electra. Sherborne has compared Electra’s performance to the FTSE 250 index from 2004 and, from 2009, unlisted “private equity funds of similar size” and […]
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11 Sep 2014 1 min read
Sherborne silent on need for change at Electra
ELTA : Sherborne silent on need for change at Electra Electra has published the circular convening the meeting requested by Sherborne at which it seeks to remove one of Electra’s existing directors and appoint two of its own. It then hopes to lead a strategic review of the company. Incredibly, Sherborne are asking shareholders to […]
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22 Aug 2014 1 min read
Electra Private Equity sees advances from Sherborne move up a gear
ELTA : Electra Private Equity sees advances from Sherborne move up a gear Electra Private Equity has announced that it has received a requisition request from Sherborne Investors GP, LLC requiring Electra’s directors to call a general meeting of the Company’s shareholders. The objective is to consider resolutions that 1) Mr. Edward Bramson (of Sherborne Investment Management) […]
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29 Jul 2014 1 min read
Electra : ELTA – update on Sherborne Investors
Electra has announced that, at the request of Sherborne (which holds 19% of the company), its Chairman met Edward Bramson of Sherborne Investors Management (pictured) on 24 July. At the meeting Mr Bramson suggested that Electra appoint three new directors, including Edward Bramson, and that he be given a mandate to conduct a strategic review […]
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28 Feb 2014 1 min read
Electra Private Equity : ELTA – Sherborne
Sherborne Investors (Guernsey) B Limited has an interest of 10.2% in Electra – about half in ordinary shares and the rest through total return swaps. Although Sherborne, run by Edward Bramson (pictured) and known as activists, have acknowledged the stake they haven’t said what their agenda is in taking the stake.
