Yesterday there was much excitement when FAST:Fastnet Equity suspended its shares from the market after announcing talks for a reverse takeover of Amryt Pharmaceuticals. I only purchased a small stakeholding in Fastnet. 14,695 shares costing £405, but it's exciting to imagine how they might perform.
The new company will be chaired by Harry Stratford who founded Shire Pharmaceuticals. They trade at 3,810p a share. I'm not saying there's any chance the new company will trade for that even in the next 20 years, but it's fun to note that if they did, my £405 would be worth £559,450. It's nice to dream.
When the shares re-list, I'm hoping they will at least start off at more than the 2.7p I paid.
Amryt will use the funds to buy existing Pharma companies that specialise in treating rare skin diseases. Not exactly a mass market, but hopefully they will look at treating common skin diseases too.
Meanwhile I can do another "Woohoo!" as I spent my tax rebate this morning and ticked the total portfolio cost over £43,000.
I decided not to buy any new shares, but instead to top up one of my existing shares, but which one? I wanted to buy one that's good value, so that pushed me towards the ones that are making a loss from when I first purchased them. LLOY:Lloyds were an option, but banks are a little precarious at the moment so I decided to pass. AA:Alcoa are almost back to profit, but you don't get many shares for £1,000 so I decided against that. ASHM:Ashmore Group were a possibility. They pay a great dividend and are 8% down on when I bought them.
However, in the end I went for CAML:Central Asia Metals. These also pay a great dividend and have a cheap way of producing copper from mine waste. They are making a profit, are about to increase production and get involved in a new project in Chile, and have enough cash to buy something else, but are waiting for a project that fits their low cost model. I bought 693 shares at 145.4449p costing £1,019.88. They sneaked up 0.2% today so altogether I'm 5% down and losing £118.27 on my total of 1351 shares. I should get over £100 dividend in June which will be nice.
Meanwhile I won't be able to open my bottle of beer tonight, as GLEN:Glencore slipped 2.2% today and extended the loss to £97 rather than going into profit. Maybe tomorrow...
No comments:
Post a Comment