As it happens I have decided to ease back on MPAC (LON:MPAC) since Family Cawkwell has got quite enough – several hundred thousand at, now, 182p. Although there is no dividend, today’s results are really very encouraging.
Not highlighted was the fact that the pension fund surplus has increased from negligible to something of the order of £15 million. Given that there are only 20 million shares, this is money.
TNAV is £43 million before notional upward adjustment for pensions fund surpluses (UK and USA) and capitalisation is £36 million. There is c. £30 million cash and it is all systems go.
Elektron (LON:EKT) has a division called Checkit. I do not understand it but somebody thinks he does. The shares are now 28.5p. One could not dare sell a chart like this.
I went on buying Clear Leisure (LON:CLP) last week. I might be wrong (it’s really too early to be remotely confident) but if tnav is 3.5p, anything under 1.5p is a steal. More news follows from the Italian Courts very shortly.
I got the Personal Assets Trust (LON:PNL) quarterly newsletter yesterday. Apparently, a shareholder complained that there were hardly any dealings and that the management fee was not therefore justifiable. Sebastian Lyon (Jeremy’s son), the manager, declared that he worries for his money.
Finally, I like a bit of drama with my football. In Argentina a few days ago, the ref issued 36 red cards in one game. That is all 22 players and 14 substitutes. It must be the Latin American temperament.