Evil Diaries: Asset cover

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Evil Diaries: Asset cover

For investors who fancy a small lockaway for a very patient account I mention Scholium (SCHO). This dealer in rare books was floated in 2014 at 100p and has disappointed ever since, now standing at 50p offer. However the business has turned round and is heading into dividend payment land. Tangible net asset value is 69p.

Bernard Shapero has at last gone on the board. This is a desirable development since he is not a fool and has got online marketing licked. At a guess there is only 10,000 shares available at 50p.

At the back of my mind rare books might prove to be a terrific inflation hedge.


Logistics Development Group (LDG) reported this morning and confirmed that tnav is now 19.5p. Overheads are well under £1m a year and tnav, largely cash and certainly no debt, is c. £110m. As against that the capitalisation is, at 13.5p, about £75m. Patience is required but there is no downside. Over a week one could easily buy 1m shares. I do not know why the sellers are intellectually so obdurate.

Comments (1)

  • Bill Moore says:

    Now nudging .12 pence, It seems they are no longer committed to reducing the wide discount between the quote and NAV.
    Last weeks confirmation of stake building in FIF muddies the waters.

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