Guest Dazel Posted May 23, 2014 Share Posted May 23, 2014 Agreed. Link to comment Share on other sites More sharing options...
EliG Posted May 23, 2014 Share Posted May 23, 2014 Corporate presentation, May 2014 http://www.clarkeinc.com/documents/Clarke%20Inc%20Corporate%20Presentation-May%202014.pdf Slide 7, Clarke Today Focus on: Identifying new investment opportunities Simplifying corporate structure Returning capital to shareholders through regular dividends, share repurchases and opportunistic debt reduction Increasing liquidity and public float Increasing transparency and making financial statements more user friendly Public float is less than 50% of the outstanding share count. NCIB and potential tender offer would further decrease it. Yet they say they want to increase liquidity and public float? I'm puzzled. With SP around $9, share split is hardly an option. What else can they do to increase liquidity? I suspect that bullet point is just a throwaway statement without any substance to it. Link to comment Share on other sites More sharing options...
Guest Dazel Posted May 24, 2014 Share Posted May 24, 2014 Agreed. They mean liquidity for investors to not move the stock in large increments in each direction....for a while they will be on the other side of trades daily As it is an automatic purchase plan. Link to comment Share on other sites More sharing options...
Guest Dazel Posted May 28, 2014 Share Posted May 28, 2014 Hopefully we do not get to book "too" quickly! Like to see Clarke pick up more shares. Link to comment Share on other sites More sharing options...
Guest Dazel Posted May 29, 2014 Share Posted May 29, 2014 It will be tough for you guys who plan to sell at book value...At $12 you are still looking at the safest 3.3% yield I see anywhere...I know some members do not like dividends for tax reasons but if we get to book value to quick you will likely see dividend increases instead of a large buy back we are hoping for. After todays close with the dividend at 4.2% this much below book (when book value is marketable securities) feels like an old Peter Cundill investment that he would talk about that I did not believe were possible. Link to comment Share on other sites More sharing options...
original mungerville Posted May 29, 2014 Share Posted May 29, 2014 This is a big no brainer. Link to comment Share on other sites More sharing options...
Myth465 Posted May 29, 2014 Share Posted May 29, 2014 It will be tough for you guys who plan to sell at book value...At $12 you are still looking at the safest 3.3% yield I see anywhere...I know some members do not like dividends for tax reasons but if we get to book value to quick you will likely see dividend increases instead of a large buy back we are hoping for. After todays close with the dividend at 4.2% this much below book (when book value is marketable securities) feels like an old Peter Cundill investment that he would talk about that I did not believe were possible. I am not a huge fan of the Sherritt position (its undervalued but I havent significantly looked into it). I am hoping they havent boxed themselves into a corner by saying they wont sale a share. At book value it will become more of a play on Sherritt and I will have to get really comfortable with that position to hold. I like most of the other holdings. 1/3rd of my holdings are in Clarke though. Mainly for what you said. The O&G and Canadian market could pull back 25% and we would be fine. I like the prospects and limited downside. I like GA style and own quite alot of Holloway, and want to buy more. I wish we were buying much more of that at Clarke. Hopefully they do something on the convertible debentures. The convert feature needs to be lowered, which I think may be the plan. I dont think Clarke should be a lender at 7%, there are equities yielding 5% in Canada with growth... GA is liquidity alot of the holdings in his private company and putting it all in Holloway. http://www.newswire.ca/en/story/1361435/geosam-capital-inc-increases-its-investment-in-holloway-lodging-corporation Combining Royal Host and Holloway will be extremely profitable in my opinion. Very interesting to watch it all. Clarke needs an operating business to maximize NOLs. Wonder what George will do. Link to comment Share on other sites More sharing options...
sbalsam Posted May 29, 2014 Share Posted May 29, 2014 Myth, Where did you see Clarke say they wouldn't sell any of their Sherritt shares? A block of 6.5M shares was sold at $4.75 on Tuesday, and I was thinking it could be Clarke. Personally, GA convinced me about the low quality of management and I would be comfortable seeing the shares sold now that the proxy has been lost. This despite the CEO's newfound commitment to the company (a "colossal" purchase of $30,000 worth of shares). Thanks. Link to comment Share on other sites More sharing options...
EliG Posted May 30, 2014 Share Posted May 30, 2014 Where did you see Clarke say they wouldn't sell any of their Sherritt shares? Armoyan made some noises about upping Sherritt stake, so he can carry a bigger stick and push for more changes. See this message: http://www.cornerofberkshireandfairfax.ca/forum/investment-ideas/cki-clarke-inc/msg170506/#msg170506 Granted, he said that on the day he lost the proxy fight. He's had some time to cool off. Who knows, maybe he changed his mind. Link to comment Share on other sites More sharing options...
Myth465 Posted May 30, 2014 Share Posted May 30, 2014 Yep hopefully it just posturing. Link to comment Share on other sites More sharing options...
Guest Dazel Posted June 3, 2014 Share Posted June 3, 2014 http://www.miningweekly.com/article/sherritt-international-consolidates-strategy-extends-cuban-psc-2014-06-02 Link to comment Share on other sites More sharing options...
Guest Quebec Posted June 11, 2014 Share Posted June 11, 2014 Looks like Clarke sold about half its Sherritt position ( latest presentation.) Holding lots of cash. I submit them an idea: take a look into Colabor! You did great with Versacold back in the days.. Link to comment Share on other sites More sharing options...
Guest Dazel Posted June 12, 2014 Share Posted June 12, 2014 http://finance.yahoo.com/news/clarke-inc-announces-2014-second-210900975.html Link to comment Share on other sites More sharing options...
original mungerville Posted June 12, 2014 Share Posted June 12, 2014 http://finance.yahoo.com/news/clarke-inc-announces-2014-second-210900975.html I sold at 10.65 over the past week or two. Anybody sell or was it just me? Link to comment Share on other sites More sharing options...
investor-man Posted June 12, 2014 Share Posted June 12, 2014 http://finance.yahoo.com/news/clarke-inc-announces-2014-second-210900975.html I sold at 10.65 over the past week or two. Anybody sell or was it just me? I haven't sold and it looks like Ill hang on into July Link to comment Share on other sites More sharing options...
Andy Dufresne Posted June 12, 2014 Share Posted June 12, 2014 Still holding on to my shares ... likely until August. With respect to their updated report, I still do not understand why they insist on showing the BV as 11.72 when this is obviously incorrect, more so now that they sold some of the holdings in Sherritt... I hope the next Q report will show a clearer BV that takes into account the increase in the value of the public holdings of Clarke as well as the share buybacks and that the gap to BV is narrowed somewhat ... Link to comment Share on other sites More sharing options...
Guest Dazel Posted June 12, 2014 Share Posted June 12, 2014 My dividend yield is well over 5%...anywhere else I can get that relatively risk free? Link to comment Share on other sites More sharing options...
Guest Quebec Posted June 12, 2014 Share Posted June 12, 2014 I am not contemplating selling. I feel great about the potential over the next year and like the dividend. The book value is disclosed with quarterly result. In between, its uncommon to have pro forma disclosed. We have to estimate. Right now, we sure know its improved! Link to comment Share on other sites More sharing options...
original mungerville Posted June 12, 2014 Share Posted June 12, 2014 I think the stock should continue to outperform as reported book value continues to grow - I would say I sold a little early given the continuing discount to book. Book should be around $13 or so a share I would imagine by end of Q2. Link to comment Share on other sites More sharing options...
Andy Dufresne Posted June 12, 2014 Share Posted June 12, 2014 I admit to thinking exactly the same way as you originalmungerville - even if shares get to 90% of actual BV its another 12-13% upside (including dividend) for a 2- month period - not bad ... plus if GA is able to deploy the 51m cash wisely until then, it would be an added bonus - I doubt he would have sold half the holdings in Sherritt without having some idea of where to deploy the funds given he already had 20m + in cash Link to comment Share on other sites More sharing options...
plato1976 Posted June 12, 2014 Share Posted June 12, 2014 any idea why it's crashing today? I think all the results are pretty good... I admit to thinking exactly the same way as you originalmungerville - even if shares get to 90% of actual BV its another 12-13% upside (including dividend) for a 2- month period - not bad ... plus if GA is able to deploy the 51m cash wisely until then, it would be an added bonus - I doubt he would have sold half the holdings in Sherritt without having some idea of where to deploy the funds given he already had 20m + in cash Link to comment Share on other sites More sharing options...
craigatk Posted June 12, 2014 Share Posted June 12, 2014 My dividend yield is well over 5%...anywhere else I can get that relatively risk free? Acadian Timber is yielding 6.1%... As for risk free, it is not, however I believe the asset value of their bare-land/freehold timberlands is worth equal to, or slightly more than the market cap. This gives no value to the management of the crown land leases (it brings a little revenue), the tree nursery (they sell excess seedlings for revenue), or even any valuation really to their earnings. Link to comment Share on other sites More sharing options...
investor-man Posted June 12, 2014 Share Posted June 12, 2014 My dividend yield is well over 5%...anywhere else I can get that relatively risk free? Acadian Timber is yielding 6.1%... As for risk free, it is not, however I believe the asset value of their bare-land/freehold timberlands is worth equal to, or slightly more than the market cap. This gives no value to the management of the crown land leases (it brings a little revenue), the tree nursery (they sell excess seedlings for revenue), or even any valuation really to their earnings. I suspect this is Dazel's roundabout way of suggesting that a high yield, low risk stock in an environment with extremely low interest rates is likely to trade at a premium, as yield seeking investors may flock to the stock. Link to comment Share on other sites More sharing options...
zuokk Posted June 13, 2014 Share Posted June 13, 2014 http://www.newswire.ca/en/story/1372169/clarke-inc-expands-management-team HALIFAX, June 12, 2014 /CNW/ - Clarke Inc. ("Clarke" or the "Company") (TSX: CKI) today announced that George Armoyan will step down as President and Chief Executive Officer and will remain actively engaged in the Company's growing business as Executive Chairman of Clarke. Michael Rapps, a current director of Clarke, has been appointed President and Chief Executive Officer of Clarke. These changes, effective July 2, 2014, have been made in order to build on the Company's positive operating and financial performance in recent years. Link to comment Share on other sites More sharing options...
investor-man Posted June 13, 2014 Share Posted June 13, 2014 His election to the board makes quite a bit more sense now. Link to comment Share on other sites More sharing options...
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