MIR - Mirrabooka Investments

[Bellcose]

Although allocation advices will not be sent until tomorrow, the allocations under the 1 for 7 officer are available now on the share registry.

 

[Dona Ferentes]

Although allocation advices will not be sent until tomorrow, the allocations under the 1 for 7 officer are available now on the share registry.

thanks belli.

I just logged in, and notice I received all of the extra applied for, on top of the 1 for 7 allocation .

 

[monkton]

I just logged in, and notice I received all of the extra applied for, on top of the 1 for 7 allocation .

Same here, so a nice little paper profit today withn MIR trading around $3.22, happy!

 

[Ferret]

Thanks Belli. I can see mine logging into my broker too.

The scale back was much less severe than I expected. I got about 67% of the top up I applied for. Greed is good.

 

[Dona Ferentes]

and another investor dealing in round numbers

 

[Bellcose]

and another investor dealing in round numbers

View attachment 201331

What the...?. That seems way over the 1 for 7 entitlement. How can MIR justify that allocation when it scaled back other - and likely smaller - applicants? Not impressed.

 

[Dona Ferentes]

What the...?. That seems way over the 1 for 7 entitlement. How can MIR justify that allocation when it scaled back other - and likely smaller - applicants? Not impressed.

AFI from under 9 million to 15.2 million.

is the top up formula out yet? I suspect the Directors' discretion will include a calculation with recognition of long term holdings.

I agree it appears excessive; as a shareholder since 2005, in the top up, I got all I asked for (but not of that magnitude)

 

[Bellcose]

AFI from under 9 million to 15.2 million.

is the top up formula out yet? I suspect the Directors' discretion will include a calculation with recognition of long term holdings.

I agree it appears excessive; as a shareholder since 2005, in the top up, I got all I asked for (but not of that magnitude)

Well, based on 9m that would calculate as approx 1.2m under the 1 for 7 entitlement which means AFI were allocated some 5m from the top-up. That appears excessive to me.

That is way more as a percentage compared with the oversubscribed percentage of 119%

 

[Dona Ferentes]

Well, based on 9m that would calculate as approx 1.2m under the 1 for 7 entitlement which means AFI were allocated some 5m from the top-up. That appears excessive to me.

there may have been an ex officio agreement to take up any shortfall. You gave mentioned previous rights issues only attracting minority participation by a minority of shareholders

 

[Ferret]

I wonder what AFI's plan is for all these additional shares.

Did they just look at the $3.06 price and decide to grab a bundle that they will start offloading for a profit? If so, it doesn't seem fair that they could do this at such scale.

Or do they want to hold long term? I'm not a fan of LICs holding other LICs. It just seems like compounding of management expenses. Especially in the case of AFI/MIR where the research is already shared.

 

[Bellcose]

there may have been an ex officio agreement to take up any shortfall.

MIR advised the offer was oversubscribed by 19% and will scale back some shareholders and return application money.

AFI got around 400% more than its 1 for 7 entitlement so where was the shortfall if a scale back was applied? Could have easily filled all other applications and reduced AFI's allotment, especially if those applications came from individual shareholders as opposed to an affiliate company.

I'm not a fan of LICs holding other LICs. It just seems like compounding of management expenses. Especially in the case of AFI/MIR where the research is already shared.

For what I understand AFI/DJW/MIR and AMH all have the same executive/investment team and proportionally share those employment costs rather than each employing their own. A much less expensive way to function.

 

[Captain_Chaza]

Crikey! FWIW
2 cents above its 4 YEAR Moving Average and 4 cents Under its 200 DAY Moving Average is not a Good Investment in My Books

Salute and always Beware of all Loyalty Programmes that appeals to your GREED

 

[Captain_Chaza]

Ahoy Brave and Loyal Crew---

View attachment 201371

All Hands on Deck at Dawn-----------
Wet Weather Gear is in order-----------

NB:HOLD ON TIGHT to Each and Every one of our URANIUM sails

US Industry ETFs---Thu 12 Jun 25, 8:28am (AEST)​

Name	Value	% Chg
Commodities
Uranium	35.87	+5.35%
Gold Miners	51.94	+0.99%
Lithium & Battery Tech	37.97	+0.58%
Strategic Metals	39.87	-0.60%
Copper Miners	43.18	-0.62%
Silver	32.95	-0.84%
Steel	64.96	-1.52%
Industrials
Aerospace & Defense	180.69	+0.87%
Agriculture	27.05	-0.07%
Construction	78.2233	-0.26%
Global Jets	22.67	-3.28%
Healthcare
Biotechnology	127.86	-0.72%

Name	Value	% Chg
Cryptocurrency
Bitcoin	21.8	-0.77%
Renewables
Hydrogen	22.54	+2.71%
CleanTech	7.09	+1.72%
Solar	34.54	+0.64%
Technology
Sports Betting/Gaming	21.9004	+0.46%
Cybersecurity	35.86	+0.39%
Electric Vehicles	23.09	+0.13%
E-commerce	30.89	+0.03%
FinTech	32.34	-0.22%
Robotics & AI	31.53	-0.22%
Semiconductor	226.56	-0.33%
Video Games/eSports	104.33	-0.62%
Cloud Computing	23.18	-1.07%

Salute and Gods' Speed
View attachment 201370

 

[Captain_Chaza]

My Apologies for above post --
Wrong thread!

 

[Ferret]

I thought it might be interesting to look at the movement of the MIR share price from the week the rights issue was announced until the end of the week in which the new shares were allotted.

I've compared MIR against the all-ords, AFI and OPH (another fund manager in the mid and small cap area).

It seems the rights issue has been a brake on the MIR share price. To be expected, I suppose.

 

[monkton]

I thought it might be interesting to look at the movement of the MIR share price from the week the rights issue was announced until the end of the week in which the new shares were allotted.

I've compared MIR against the all-ords, AFI and OPH (another fund manager in the mid and small cap area).

It seems the rights issue has been a brake on the MIR share price. To be expected, I suppose.

View attachment 201550

At least it didn't get pushed down to around the issue price as has happened with some spp's.

 

[Captain_Chaza]

Good luck for Tomorrow etc etc

 

[Dona Ferentes]

I thought it might be interesting to look at the movement of the MIR share price from the week the rights issue was announced until the end of the week in which the new shares were allotted.

I've compared MIR against the all-ords, AFI and OPH (another fund manager in the mid and small cap area).

the Mirrabooka Benchmark: Combined

• S&P/ASX Mid 50 and
• Small Ordinaries Accumulation Indices.

hard to get a comparison going with my low tech skills

.. I guess it's bounced along. No increased selling, Fridays NTA of $3.29 just showing a bit of slippage...

It seems the rights issue has been a brake on the MIR share price. To be expected, I suppose.

usually the case.

 

[Dona Ferentes]

the Mirrabooka Benchmark: Combined

• S&P/ASX Mid 50 and
• Small Ordinaries Accumulation Indices.

.. I guess it's bounced along. No increased selling, Fridays NTA of $3.29 just showing a bit of slippage...

MIR have just corrected the Friday NTA down to $3.27.

Would this be the first time the rights issue cash is included?

 

[Dona Ferentes]

for CY24, some portfolio movements have been noted.
Full EXIT : CPU .. Trimmed : FPH , REH - both now out of the top 20 as per end Sept.
New :
ARX - Aroa Biosurgery .. SDR - Siteminder .. 360 - Life360
Added . IEL - IDP Education .. in top 20..CBO - Cobram Estates

In last year's annual ( FY not CY ) by Sept 24, a few portfolio changes were noted. I'm not sure any gains outweigh losses, (all charts are for 3 years)
CPU >> out completely ... too soon

FPH ... jury is out

REH >> sold down ... superb timing

Life 360 >> add ... strength to strength