Chrysalis - still value here ?

[BusyBumbleBee]

Oh Dear UncleE - either you or I have the wrong end of the stick here.

The announcement was made on 13th May BUT they referred to the valuation on 31st October thus:

At 31 October 2019, the investment in Coolabi represented approximately 27% of Chrysalis VCT's net assets and comprises mainly of loan stock.

[Kidman]

It appears to me that the market-makers have dropped the CYS price by 5p on Friday but I can't see any announcement or trade which may have been the cause.

[Kidman]

Today's announcement:-

"Further to the introduction by the FCA of temporary relief from the requirements of DTR 4.2.2R, which normally requires the Company to publish its half yearly financial reports within 3 months of the period end, the Board of Chrysalis VCT plc announces that the Company’s half yearly report will be published later than usual this year.

The finalisation of the Company’s half yearly report has been slightly delayed by the impact of the coronavirus pandemic. The Board wishes to provide a full and complete update to shareholders and confirms that report will be published in August."

https://www.londonstockexchange.com/news-article/CYS/statement-re-publication-of-half-yearly-report/14635889

[BusyBumbleBee]

Slightly disingenuous statement from them, Kidman. "Will be" indeed - they are already. They usually (for the last 10 years anyway) publish this in June. So what's the reason? Disaster has struck or a windfall has dropped our way? Intriguing.

[UncleEbenezer]

Slightly disingenuous statement from them, Kidman. "Will be" indeed - they are already. They usually (for the last 10 years anyway) publish this in June. So what's the reason? Disaster has struck or a windfall has dropped our way? Intriguing.

Um ...

The words quoted were will be published late. Maybe they've had to rearrange processes disrupted by lockdown restrictions?

They are already[1] late, but are they already published late?

[1] Just based on the words quoted - I haven't checked. Nor have I reviewed the entire thread for context, so I could have the wrong end of the stick.

[yorkshirelad1]

Chrysalis VCT considering winding up (H1 results):
https://lemonfool.co.uk/viewtopic.php?f=25&t=24916

[BusyBumbleBee]

Frankly a bit disappointed by the results - in particular the fact that there was no uplift in the Coolabi valuation during the period.

Coolabi Group Limited
Cost : 3,456
Valuation : 5,144
Uplift in period : -
Percentage of Portfolio : 31.6%

Now of course they said on 13th May

At 31 October 2019, the investment in Coolabi represented approximately
27% of Chrysalis VCT's net assets and comprises mainly of loan stock

Presumably the loan stock has not increased in value so, the £1.688 million uplift since investment all came from shares in Coolabi.

See they bought back 106,307 shares at 42.75p each just before the close today which, considering the bid price yesterday was 25 pence, means a nasty loss for some shareholders.

[yorkshirelad1]

Chrysalis VCT considering winding up (H1 results):
https://lemonfool.co.uk/viewtopic.php?f=25&t=24916

Closing price tonight (Fri 21 Aug): Chrysalis VCT 42.50p +10.00p (+30.77%)

[BusyBumbleBee]

Closing price tonight (Fri 21 Aug): Chrysalis VCT 42.50p +10.00p (+30.77%)

That's a mid price. Most of the rise was due to the narrowing of the bid-offer spread

[BusyBumbleBee]

See they bought back 106,307 shares at 42.75p each just before the close today which, considering the bid price yesterday was 25 pence, means a nasty loss for some shareholders.

Oh No they didn't - see RNS below

Chrysalis VCT plc

LEI: 2138009FVDWULSIOX404

Transaction in Own Shares (Correction)

24 August 2020

The transaction for the purchase of 106,307 of its own shares by
Chrysalis VCT plc ("Company") announced by the Company on 21 August 2020
at 16:29 has been cancelled as it was booked in error. The announcement
released by the Company at 16:29 on 21 August 2020 should therefore be
disregarded in full

an inexplicable mistake which does street cred no good: