Weiss Korea Opportunity Fund Ltd (WKOF)

Sector:

Investment Firms

Index:

FTSE AIM All-Share

 176.50p
   
  • Change Today:
      0.000p
  • 52 Week High: 192.00p
  • 52 Week Low: 149.00p
  • Currency: UK Pounds
  • Shares Issued: 69.27m
  • Volume: 978
  • Market Cap: £122.25m

Weiss Korea Opportunity Fund grows in first half, but still underperforms

By Josh White

Date: Wednesday 07 Sep 2016

LONDON (ShareCast) - (ShareCast News) - Weiss Korea Opportunity Fund posted its half-yearly financial report for the six months to 30 June on Wednesday, with total net assets growing to £141.38m, from £131.14m at the beginning of the period.
The AIM-traded firm reported a net asset value per share of £1.4514, up from £1.3449, while basic and diluted earnings per share dropped 12.87p, compared with 15.61p six months prior.

Its mid-market share price was £1.335 during the period, representing a discount of 8% to the net asset value, compared with £1.28 at a 4.8% discount on 31 December.

"During the period, the company's NAV ... underperformed the reference MSCI Korea 25/50 Capped Index, which returned 14.81% in pounds sterling," said chairman Norman Crighton.

Weiss paid a dividend of 2.2416p per share on 28 June.

"As stated in the Admission Document, the directors intend to return to shareholders all dividends received, net of withholding tax, on an annual basis," Crighton explained.

"The board has decided to schedule payment of the company's annual dividend distributions in the early summer.

"This timing helps ensure that dividends are paid out as soon as reasonably practical after the company receives them," he said.

Crighton added that the board remained "committed" to adding value for shareholders, as well as enhancing the liquidity of the company's shares, through the exercise of its authority to repurchase up to 40% of the shares at a discount to NAV.

"In this regard, during the period, the company repurchased and cancelled 100,000 shares on instructions from the board.

"Also, the board has in place standing instructions with the company's broker for the repurchase of shares during closed periods when the board is not permitted to give individual instructions, typically around the preparation of the annual and half-yearly financial reports," he said.

Crighton also said shareholders will have an opportunity to realise all or part of their shareholding in the first half of 2017.

"The board will contact shareholders early in 2017 with the appropriate documentation."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

WKOF Market Data

Currency UK Pounds
Share Price 176.50p
Change Today 0.000p
% Change 0.00 %
52 Week High 192.00p
52 Week Low 149.00p
Volume 978
Shares Issued 69.27m
Market Cap £122.25m

WKOF Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
Market averageMarket averageMarket averageMarket averageMarket average
23.91% below the sector average23.91% below the sector average23.91% below the sector average23.91% below the sector average23.91% below the sector average
Price Trend
Market averageMarket averageMarket averageMarket averageMarket average
20.12% above the sector average20.12% above the sector average20.12% above the sector average20.12% above the sector average20.12% above the sector average
Income Not Available
Growth
Market averageMarket averageMarket averageMarket averageMarket average
45.39% below the sector average45.39% below the sector average45.39% below the sector average45.39% below the sector average45.39% below the sector average

WKOF Dividends

  Latest Previous
  Interim Final
Ex-Div 09-May-23 19-May-22
Paid 09-Jun-23 10-Jun-22
Amount 5.35p 6.37p

Trades for 28-Mar-2024

Time Volume / Share Price
11:44 278 @ 175.00p
11:00 700 @ 180.00p
11:00 700 @ 180.00p

WKOF Key Personnel

Chair Krishna Shanmuganathan

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