Scrivener Capital

Independent research with an owner's view.

Price matters.

[Scrivener Capital @ScrivCapital]

In order to contact other shareholders, I have obtained a copy of Oceania's share register under s218 of the Companies Act 1993. Today, I wrote to the register's largest holders asking for their support as well as enclosing the Open Letter to the Chair.

Vote FOR Resolution 4.

[Scrivener Capital @ScrivCapital]

@MorenoValue @InvestSpecial Not the cleanest odd lot at all - just huge spread. But huge risk as well... Worked out well though.

[Scrivener Capital @ScrivCapital]

I've sent an open letter to Oceania $OCA following their recommendation to vote against my resolution.

The shares trade at less than half of NTA.

If you want the board to consider all options, including ones that don't keep the lights on at Quay Street, vote FOR Resolution 4.

[Scrivener Capital @ScrivCapital]

@dirty_harrrry @saylor Why would he buy them back when he can simply stop paying the dividend forever.

[Scrivener Capital @ScrivCapital]

@BTC2TMOON @UltraEgoDon @d_1awrence Collect 18% annually.. until Saylor turns off the tap at will in a couple months time

[Scrivener Capital @ScrivCapital]

@leevalueroach Why can't reddit ever go after a company with solid fundamentals... Deeply negative equity business excluding intangibles and just barely profitable.

Was thinking if it was a stock I'd want to own at that price anyway then the reddit pump is free optionality... but nope!

[Scrivener Capital @ScrivCapital]

@Tangible_Bruce In itself those things mean nothing.

[Scrivener Capital @ScrivCapital]

@ILikeBasil_ It's a good point. The fact that shareholders were not invited to that investor day says a fair bit itself.

RYM/OCA have stopped building for the most part, but SUM are full steam ahead.

[Scrivener Capital @ScrivCapital]

I've filed a resolution for the $OCA AGM.

The shares are trading at $0.775. Net tangible assets are $1.62/share.

It recommends the Board commission an independent strategic review of the options to close the discount.

Vote FOR at the 30 July AGM.

[Scrivener Capital @ScrivCapital]

@puppyeh1 Some shareholder activism in NZ markets, might be up your alley.

[Andrew Kuhn @FocusedCompound]

SpaceX will IPO tomorrow

Here's the bull case:

Target valuation is $1.75 trillion

But that's just on Earth

There are 8 planets in our solar system

That's $14 trillion in potential value

But when you factor in the other 100 billion planets in our galaxy?

$1.4 septillion.

Woah.

[Scrivener Capital @ScrivCapital]

@leveragedbets @yenoms No proration on the A pref shares and large proration on the B shares, except for odd lot holders.

[Scrivener Capital @ScrivCapital]

@yenoms @rhunterh @CalgaryLeveen I ended up writing NHPBP up. Have another couple odd lots to write up soon ish too. Check it out. https://t.co/kvrb5V7O6j

[Hunter 🌆 @rhunterh]

If you're over 30 and your friend group isn't texting you about an odd lot tender to make $143, you need to find a new friend group.

[Scrivener Capital @ScrivCapital]

@Rogaza_Capital https://t.co/FJgQPEcCQZ

CTRL + F "Private Placement Transaction"

[Scrivener Capital @ScrivCapital]

@El0ns15ThChild Some more beer money hidden in those offer terms eh.

[Scrivener Capital @ScrivCapital]

@BrettKPG @KiwiiRob @WingsORC I would suggest you should at a certain price. I am not saying it is there now but when $100 bills go on sale for $20, you aggressively purchase every one you can and put other projects on hold to do it.

[Scrivener Capital @ScrivCapital]

@yenoms When you are gaming the system you don't call investor relations to let them know you are doing it...

That's how odd lot priorities get removed.

[Scrivener Capital @ScrivCapital]

@Tangible_Bruce Shit I actually see you wrote it up today! Crack up.

[Scrivener Capital @ScrivCapital]

@Tangible_Bruce Looks like an approx 30% decline in shares outstanding over 15 years? Very nice.

How about this...

$EXFY is tendering for ~30% of shares in one go trading at net cash.