NICHOLAS FINANCIAL IS CONSIDERING VARIOUS FINANCIAL INITIATIVES
October 21, 2014 – Clearwater, Florida – Nicholas Financial, Inc., today announced that the Board of Directors of the Company is considering various strategic financial initiatives to increase return on shareholder investment, including (but not limited to) undertaking a share repurchase program or self-tender offer, initiating a cash dividend program, increase its existing credit facility and/or exploring potential expansion opportunities. No assurances can be given, however, as to whether the Board of Directors will determine to implement any such initiatives.
Given that Peter recently dumped 30k shares, I wonder if he wants out ?
Mark A. Sellers III, Managing Partner
October 21, 2014
Below is an excerpt from my letter dated May 31, 2013:
The saga of the Fund’s investment in Premier Exhibitions has been a long and interesting, and sometimes arduous, journey. The road has turned out to be longer than I thought it would be when we began the journey almost five years ago. I hope many of you will continue traveling with me until I can see things to a close. I want to thank all of you for your patience and support.
“Almost five years ago” has turned into “almost seven years ago.” But today I’m happy to announce that finally, we have entered into a deal to sell our entire position in Premier for $1.05 a share to the Armada Group, a company based in Florida. This represents a 42% premium to the stock price on the day of signing.
While I still believe in the underlying premise of our investment in Premier, the company continues to have significant unmet capital and operational needs to become successful. Unfortunately, the Fund and Sellers Capital are unable to fulfill those needs for Premier. In fact, the continued holding of our position may be an impediment to the company’s growth. The potential distribution of our shares (representing more than a year’s total trading volume) and the insufficiency of capital necessary to stabilize and grow the business may be holding back the stock price. As a result, the realization of greater value for the Fund’s investment is unlikely in any reasonably foreseeable time frame for the Fund. That is why I’ve decided to sell our block to Armada, as it is both willing and capable of purchasing the Fund’s investment outright on superior terms relative to current market conditions and Premier’s current status. In short, I believe that this is a prudent time to sell, and a fair and reasonable opportunity to do so.
We hope to close this sale by the end of October and will provide a distribution shortly thereafter. Over the next two weeks,
Would have thought the new valuation would have gotten it back to $1 but apparently those selling no longer believe. And its hard to blame them.
Nah, not enough sellers and too much hype for it to fall that far.
Its a worthless stock but there isn't enough volume to drive it that low.
tomterrificsjn has an account with MS. Perhaps he could see what his report said or maybe even talk to the guy that downgraded it.
I don't pay much attention, by the time the rest of us find out its too late, even when they are right and often they are just wrong.
Well, come march, we wont be at $7.38, more like at least $10.
But, we need the board to add some new directors with some skin in the game
This is one of the top 15 most hated stocks for a reason and the board needs to make changes because the old way clearly isn't working or we wouldn't be below $15.
I saw it about $9.50 this morning and placed my $7.51 buy order never thinking it would go that far down today.
But, Ive learned over the last 30 years that tax loss selling can take stocks far below what you would think.
These same kind of stocks can have killer Bounces in the first quarter.
With any highly shorted stock you're likely to have posters trying to influence one way or another. I don't pay close enough attention to look at when any poster became a member.
Just look at the content of their message & go on.
I only post when I have something to say. Im not "new" and I suspect there are many like me.
a 10% holder is a big deal and will get people talking.
Apparently they go home at noon on Friday.
4 and a half day work weeks.
10-4 4 days a week with a 2 hour lunch and 9-11 on Friday.
My avg cost is $9.85 which is not bad considering I started buying at $13.
50% UPSIDE if we only get back to $15. Well for me. 100% upside for anyone who buys now.
Funny letter to Berkshires board a few years ago.
So he has a sense of humor.
is apparently Russian and young.
I added more just now because of their buying.
But, I started buying before them. Not sure of my avg cost. Will figure it up later.