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ERII Eur.Residual

4.625
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
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

Eur.Residual Share Discussion Threads

Showing 51 to 74 of 125 messages
Chat Pages: 5  4  3  2  1
DateSubjectAuthorDiscuss
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 (c€12m) 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 (c€4m 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 c€1.7m of cashflows (excluding the c€12m 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
Chat Pages: 5  4  3  2  1

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