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Acencia Share Chat - ACD

Share Name Share Symbol Market Type Share ISIN Share Description
Acencia LSE:ACD London Ordinary Share GB00B0MSB420 ORD NPV
  Price Change Price Change % Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -1.50 -1.40% 106.00 106.00 109.00 106.00 106.00 106.00 1 16:35:24
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 0.0 6.0 5.2 20.5 59.01

Acencia Bulletin Board

DateSubjectDiscuss
30/4/2015
12:20
The Annual Report - HTTP://www.rns-pdf.londonstockexchange.com/rns/5903L_-2015-4-28.pdf It's rather hard going beyond page 9 (= page 11 of the pdf file). However, there are interesting charts on page 8 (=pdf page 10) showing asset types (there are both long and short positions) and geographic allocation. The explanation of the relative volatility of the sterling asset values (and consequently the sp) becomes clear from the hedging statement on page 4 (= pdf page 6) when considered in relation to the geographic asset distribution, i.e. sterling asset values bob along on the fx value of the pound, mainly against the dollar. So from the holders viewpoint it is something of a hedge against a declining pound. The company's approach to risk and its management are outlined briefly on page 12 (= pdf page 14).
by boadicea on Acencia - Good yield from liquidation of distressed debt portfolio
20/4/2015
12:06
jeez, that's a big number! Looks like I should have held on.
by tiltonboy on Acencia - Good yield from liquidation of distressed debt portfolio
17/3/2015
16:30
It's taking off today, trying to catch up with NAV suddenly.
by deadly on Acencia - Good yield from liquidation of distressed debt portfolio
16/3/2015
15:16
However, the sterling figure translates as a fall from the revised January value of £1.1438. Then again, translated at today's cable (£=$1.4771), sterling comes out as £1.1896. What happened to the 5% max discount target which would raise current sp to 113p? It appears that either the assets are denominated in US$ or any that are not so denominated are hedged to the US$. Consequently the sterling equivalent floats on cable.
by boadicea on Acencia - Good yield from liquidation of distressed debt portfolio
16/3/2015
12:05
Pretty impressive NAV performance: ================================== 16 March 2015 As at the close of business on 27 February 2015 the Company's Estimated USD Net Asset Value per share was as follows: USD 1.7571 (GBP 113.82p) This reflects an increase of 2.01% versus the USD Net Asset Value per share on 30 January 2015 (USD 1.7225).
by skyship on Acencia - Good yield from liquidation of distressed debt portfolio
10/3/2015
00:27
The discount window is produced by these funds are they expecting a tender?
by envirovision on Acencia - Good yield from liquidation of distressed debt portfolio
26/2/2015
09:40
The questions I raised above are partially answered, viz. about currency hedging and quotation of nav in US$, in the continuation proposal letter of 5th Sept. I reproduce an extract as a reminder of current policies. "The continuing vehicle will have an amended fee structure, with the performance fee calculated (i) on the basis of a US Dollar per Share NAV rather than a Sterling per Share NAV, (ii) by reference to the lower of NAV and market capitalisation (rather than solely by reference to NAV as at present) and (iii) by reference to a five per cent. compounding hurdle (rather than the current hurdle of three per cent. over the immediately preceding accounting period) - The continuing vehicle will implement a new discount control policy, adopting a maximum discount target of 5 per cent.; undertaking share buybacks to support this target; and putting forward a continuation vote at each annual general meeting..."
by boadicea on Acencia - Good yield from liquidation of distressed debt portfolio
25/2/2015
14:51
Par value is a truly historic and irrelevant definition. SBP - yes, if I had cash I would be looking to buy at around the current price. Had an offer of 105.25p on my screen yesterday morning; but nothing to sell; so having to bide my time...
by skyship on Acencia - Good yield from liquidation of distressed debt portfolio
25/2/2015
13:22
I liked the price and so bought some this morning, though I was slightly disconcerted to see that the shares are described as 'of no par value'...
by westcountryboy on Acencia - Good yield from liquidation of distressed debt portfolio
25/2/2015
09:10
Sky, Thanks for the pointer. I obviously need to go back through last years monthly results and see to what extent my gains up to tender stage were purely derived from incidental currency speculation and which may be reversed in the future. I had relied on the company report - without back checking - to assume that I was not overtly exposed to currency fluctuations.:- The Board of Directors considers Sterling as the currency in which the Company measures its performance and reports its results, as well as the currency in which capital is raised, dividends are declared and paid and capital returned. Further the Company hedges, although not fully, against US dollar exchange rate movements. The financial information is presented in Sterling, which is the functional and presentation currency.
by mushypeas on Acencia - Good yield from liquidation of distressed debt portfolio
25/2/2015
08:53
anyone else thinking this is a reasonable home for some safe cash again? Best regards SBP
by stupidboypike on Acencia - Good yield from liquidation of distressed debt portfolio
25/2/2015
08:38
mp - "As at the close of business on 31 January 2015 the Company's Final USD Net Asset Value per share was as follows:" At the risk of being flippant - The clue is in the date!
by skyship on Acencia - Good yield from liquidation of distressed debt portfolio
25/2/2015
08:35
Except that yesterdays announcement says 114.38 pence.
by mushypeas on Acencia - Good yield from liquidation of distressed debt portfolio
25/2/2015
08:10
Actually the NAV is now at 111.1p as the $/£ rate is at 155.0 versus 150.5 at the time of the valuation...
by skyship on Acencia - Good yield from liquidation of distressed debt portfolio
24/2/2015
17:41
so the nab is now <£1.14 just weeks after the tender ?
by envirovision on Acencia - Good yield from liquidation of distressed debt portfolio
18/2/2015
16:45
smarm - what was the default option when selftrade sent you notice of the tender and asked for yr instructions? was it to tender? (unlikely i know but selftrade are a pretty odd lot.)
by ursus on Acencia - Good yield from liquidation of distressed debt portfolio
18/2/2015
14:15
Agreed - rather bizarre; but a lucky outcome. Am I right in thinking you held JPEL at one stage, possibly still do... Anyway, they reported a 2.5% portfolio gain last month, taking their NAV up to $1.21. 0.5c better on the news; but still offered at 87.5c for a 27.7% NAV discount, this compares with the average of 19% for their peers. Bearing in mind the Shareholder Repayment Scheme coming into operation next year, they look destined to continue their climb.
by skyship on Acencia - Good yield from liquidation of distressed debt portfolio
18/2/2015
13:56
I'm a little shocked. I did not tender my Selftrade shares. And yet...the shares went from my account and I now have exactly the money in cash that I should have if they were sold at the tender price. A good result for me given I but surely they can't just tender my shares....! S
by smarm on Acencia - Good yield from liquidation of distressed debt portfolio
16/2/2015
13:45
Volta price www.google.co.uk/finance?q=vta.as&ei=C_PhVODRBJHDwAOluYAo
by davebowler on Acencia - Good yield from liquidation of distressed debt portfolio
16/2/2015
13:23
Well Ive added to my phnx holding. Added to enq1 , rusp, took some highlandgold and pspi and rm2 and sdv seem to have gone on a bit of a shopping spree.
by envirovision on Acencia - Good yield from liquidation of distressed debt portfolio
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