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Cheers,
SB
Thanks to Anonymous,bruncher,niord,gvonge,Shelford, for Donating to support the site
Snowbadger wrote:I recently sold off the two Baronsmeades to fund new purchases as they were no longer performing. Top of my list were the Mobeus VCTs. Imagine my surprise to receive the prospectus from Wealth Club to find that Gresham House who manage Baronsmeade have taken over Mobeus in Sept 21. Should I reconsider an investment?
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Cheers,
SB
sinterklaas wrote:Baronsmead has a lot of AIM, Mobeus doesn’t. Mobeus VCTs still have Trevor Hope and Clive Austin at the helm
Mainwaring wrote:I hope not. I can understand with a single team managing Baronsmead and Mobeus there will be more joint investments but a change of name usually follows pi$$ poor performance
james188 wrote:Industry consolidation and scaling up is inevitable, but new entrants are unlikely under the current rules and the reduction in choice that looms is a concern.
Kidman wrote:Could the plan be to merge the Baronsmead and Mobeus VCTs?
As they have differing portfolios there should be no problem merging one or possibly two Mobeus VCTs into one of the Baronsmead VCTs and then at the same time take the opportunity to rename them Gresham House VCT 1, 2, etc.
Mike4 wrote:Being totally wet behind the ears regarding share ownership, does this mean I get to lose my handful of Gresham House shares held in my ISA?
How will that work? Do I have to do something?
Thanks...
UncleEbenezer wrote:Mike4 wrote:Being totally wet behind the ears regarding share ownership, does this mean I get to lose my handful of Gresham House shares held in my ISA?
How will that work? Do I have to do something?
Thanks...
Sounds like you get a nice instant boost to your ISA when the deal goes through.
Pretty sure you don't have to do anything. If there are any choices for you, your ISA provider will tell you. Otherwise you just wait for the money to appear as cash in the ISA, and decide what to do with it!
Mike4 wrote:UncleEbenezer wrote:Sounds like you get a nice instant boost to your ISA when the deal goes through.
Pretty sure you don't have to do anything. If there are any choices for you, your ISA provider will tell you. Otherwise you just wait for the money to appear as cash in the ISA, and decide what to do with it!
Ok thanks. But this is VERY annoying. I wanted to keep my GH shares as I thought they have a LONG and very bright future. That's why I bought them, but obviously Searchlight thought the same and snatched the rug from under me.
Such is life. I still think grid-scale energy storage as a sector is set for massive expansion. Who does the team suggest I look at to replace my GH shareholding?!
Thanks...
BullDog wrote:Mike4 wrote:
Ok thanks. But this is VERY annoying. I wanted to keep my GH shares as I thought they have a LONG and very bright future. That's why I bought them, but obviously Searchlight thought the same and snatched the rug from under me.
Such is life. I still think grid-scale energy storage as a sector is set for massive expansion. Who does the team suggest I look at to replace my GH shareholding?!
Thanks...
Aha. Do you hold GRID, Gresham House Energy Storage shares? If you do, that's GRID, then it's business as usual. The company being taken private is Gresham House the asset manager, not GRID. HTH.
As an aside, if you wish to double down on energy storage then take a look at Harmony Energy Income Trust, HEIT. Presently a bargain.
Kidman wrote:So Gresham House returns to being an unlisted company, this time owned by a private equity firm.
Hence there should be no changes to personnel or products in the near term but I note the following from the announcement:-
"Searchlight's intention to support Gresham House by leveraging its industry experience to accelerate Gresham House's strategy. This includes the provision of capital and support to identify and execute successful acquisitions in the UK and internationally, which the Gresham House Board believes can be effectively delivered through access to flexible and long-term capital under private ownership."
Maybe more VCT management company acquisitions are in their sights?
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