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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Eur.Residual | LSE:ERII | London | Ordinary Share | GG00BNZB0D17 | ORD NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 4.625 | - | 0.00 | 00:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Date | Subject | Author | Discuss |
---|---|---|---|
11/6/2013 19:46 | Market down, ERII up. What's up? Ah,,, I see, another dividend coming soon, 3 pence per cell share. ERII so far is the jewel of the three crowns. | zastas | |
08/3/2013 15:00 | That was selftrades method | holts | |
08/3/2013 14:58 | interesting way of stating it holts | insipiens | |
07/3/2013 18:29 | HL informed me of the following rate for Euro/£ redemption You have received 0.8022388 for Share each that has been redeemed. This cash was converting into Pound Sterling using an exchange rate of 1.00 being equivalent to 84.55519 pence. As a result you received a cash payment of 67.833460 pence per Share | insipiens | |
05/3/2013 19:11 | Have to work out what the base figure is for cgt , originally bought as qwil , then we had the preference issue and I think some fund raising followed by the split of Erii , so how that all works together will be interesting. | holts | |
05/3/2013 18:44 | Same here re ST; didn't check exchange rate.. | spectoacc | |
05/3/2013 16:42 | same, thanks | insipiens | |
05/3/2013 16:29 | money in TDW account this morning. | martincc | |
05/3/2013 16:10 | although i am not impressed with their exchange rate of 1.1879 | holts | |
05/3/2013 16:04 | having slagged off selftrade previously re the dividend i must commend them for coughing up the redemption today . | holts | |
27/2/2013 23:46 | post when you get the redemption through.... I'm with TDW so am expecting it to be slow..... | insipiens | |
19/2/2013 15:37 | That's ofcourse also partially the reason for RECI's NAV performance; the EUR/GBP winds are blowing in its/our favour. | zastas | |
19/2/2013 15:35 | And thankfully in Euros; should get another 15% FX return in Sterling terms to come next months. Since July it's already an extra 10% FX return. | zastas | |
19/2/2013 15:22 | No news and up with big trade at 73 | jaws6 | |
19/2/2013 15:21 | What's the news this time? Can't just be the imminent pay-out only. | zastas | |
19/2/2013 14:37 | No one looking now some big trades again at .73 | jaws6 | |
08/2/2013 15:32 | some big trades going at .63 | jaws6 | |
08/2/2013 13:20 | The question is , I think, will they be a better buy after redemption and reduction in issue , or as they are now. | holts | |
08/2/2013 11:29 | insipiens Thanks for info, | jaws6 | |
08/2/2013 11:27 | jaws, 25th Feb is redemption date | insipiens | |
08/2/2013 10:43 | spectoAcc I thought same but his post says still 50 % discount ? and .43 c money back . I can not work out properly ,need time later to read fully. | jaws6 | |
08/2/2013 10:36 | @daveb - I got burnt on EET too, what a fiasco that one was. A lot happier with ERII but does feel like much of the move has happened now. | spectoacc | |
08/2/2013 10:30 | dave Thanks. you can remove note above if you want . seen note but can not understand this line 17.2m of cash proceeds to shareholders by way of a compulsory pro-rata redemption of shares. or I can not find x date for this .43 p back Tks for your help. Do you hold AGOL ?pl see Lib note if you can . | jaws6 | |
08/2/2013 10:21 | jaws6 here's the Liberum note; I got burnt on EET so have avoided ERII in the past but still watch due to my RECI holdings. European Residual Income Investments (ERII / BUY / 0.577) 75% return of capital plus further upside n Our full comment can be accessed by the following link: n 17.2m distribution: ERII will distribute 17.2m of cash proceeds to shareholders by way of a compulsory pro-rata redemption of shares. The distribution equates to 0.43 per share or 74% of the current share price and follows a recent significant realisation (c12m) which we estimate relates to the Newgate 2006-1 Notes. n Remaining Portfolio valued at 62% discount: The current price implies a pro-forma discount of 62% on the remaining portfolio following the distribution. We think this is too wide given the recent strong cashflows generated from the portfolio (c4m in 2012) and guidance for 2013 of 2.6m. n 2.6m cash flow in 2013: Separately, management have given guidance of expected gross cash flows of 2.6m from the portfolio in 2013. This looks achievable given the c1.7m of cashflows (excluding the c12m realisation) generated in Q4 2012. Assuming 90% of these proceeds are distributed to shareholders, this would imply a gross cashflow yield of 44% on the remaining portfolio and a pro-forma dividend yield of 40%. Liberum View: n The shares have risen by 171% since the realisation announcement in December but we think ERII remains undervalued. ERII is always likely to trade at a wide discount given the nature of the portfolio. If we assume an arbitrary discount of 50% on the portfolio, the potential pro-forma return over the next year is 66% (including the 40% dividend yield). We reiterate our BUY rating. | davebowler |
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