Acencia Share Discussion Threads

[ursus] 22/9/2014 16:34

Or put another way, a tender enables you to sell without discount to NAV on 31 Dec. You cd decide to rebuy before then at what is likely to be a lower discounted price.

[tiltonboy] 22/9/2014 14:48

There are three options:

1) Tender your shares
2) Retain your holding
3) Sell in the market

As I will not be reatining my holding, I have to decide between selling in the market, or tendering and waiting until the NAV on 31st December.

As the current NAV is comfortably above the SP, I have decided to Tender.

[asmodeus] 22/9/2014 14:19

Not sure why you're not sure, Tilton ? :)

[redhill9] 22/9/2014 12:57

In the end I decided to sell 40%, tender 40% and let the other 20% run to see what happens. The follow-on vehicle could be interesting although on the face of it rather riskier than the current ACD.

[tiltonboy] 22/9/2014 12:55

asmo,

Not certain what you are alluding to!

[asmodeus] 22/9/2014 12:25

Have you Lads tendered your shares in the belief that the NAV will be higher (and no lower) in December? Or are there any other advantages?

[tiltonboy] 22/9/2014 10:25

I think they have enough support for a follow-on vehicle.

[ursus] 22/9/2014 10:18

Same here - what are the chances that the tender will be large enough to trigger liquidation?

[tiltonboy] 22/9/2014 09:47

Tendered all mine.

[ursus] 22/9/2014 09:25

Have any of you decided whether to tender?

[skyship] 20/9/2014 19:26

17 September 2014

Estimated Net Asset Value as at end August 2014

As at the close of business on 31 August 2014 the Company's Estimated Net Asset Value per share ex-dividend was as follows:

Ordinary shares - 109.82p

This reflects an increase of 0.1% versus the Net Asset Value per share (ex-dividend) on 31 July 2014

[cousin jack] 18/9/2014 23:11

Thanks Jlo & Papy02. I feel 7 days to respond is unreasonable, particularly if other brokers gave earlier notification and later deadlines. I'll ask them to execute on best efforts basis but will be very irritated if unsuccessful.

[papy02] 18/9/2014 22:28

I also hold in Selftrade nominee a/c. I submitted yesterday - got a reply that they would execute on a best-efforts basis only as I had missed the deadline. Fingers crossed!

[jlo10] 18/9/2014 21:53

HL is Monday noon 22nd

[cousin jack] 18/9/2014 19:45

Is anyone holding ACD im a Selftrade nominee account ? I've just returned from holiday to find a message from them about the tender (sent to me on 9th Sept) saying they must receive my instruction by 16th Sept. Consequently it would appear I'm too late to tender. This seems a very short time period - is it in line with timetable of other nominee brokers?

[nk104] 17/9/2014 16:05

Well I've sent the form off tendering all my shares. I presume that more than 68 per cent of the shares will be tendered leading to a wind-up situation?

[wirralowl] 10/9/2014 09:33

Cheers madmix, for some reason I'd missed it, but thanks for bringing to my attention! My tender instructions have to be received on the 22/9 with idealing.

[madmix] 10/9/2014 09:31

WirralOwl,

Did you read the last RNS (5th September) "AcenciA Debt Strategies Limited Notice of EGM"?

[wirralowl] 10/9/2014 09:29

Edit - missed the circular on the 5th, but now received my tender offer...! :-)

[corbeta] 05/9/2014 20:34

Thanks for that, I think I may well do the same.

[tiltonboy] 05/9/2014 19:15

corbeta,

Absolutely, but the managers track records have been excellent, so it could still be a good one to back.

On balance I will be taking the cash, and re-investing in something with a bit more yield.

[corbeta] 05/9/2014 17:37

Do you think that: "The continuing vehicle will amend its investment policy and strategy to allow the Manager to run a more high-conviction and concentrated portfolio" means more risky in future?

[envirovision] 05/9/2014 17:30

I suspect i'll elect to take my shares at NAV thank very much

[envirovision] 29/8/2014 10:57

So nav is now 109.72p

[skyship] 27/8/2014 08:09

XD today...