European Equity Tranche Income Share Discussion Threads

[stemis] 21/1/2008 13:58

Big sale gone through. Investec down from 23,350,000 to 13,850,000. That's 9.7% of the company changing hands. Clearly there is a big buyer(s) to take this sort of stock. Hopefully once Investec are done the price can bounce.

[stemis] 17/1/2008 17:35

Looks like HBOS are the buyer

[stemis] 17/1/2008 16:37

Well, looks like Investec have sold another 550,000. So of course the share price goes up!!

[stemis] 17/1/2008 12:49

I guess we'll get the usual financial data.

The interesting thing will be how much cash has built up on EET's balance sheet. They are clearly struggling to reinvest repayments of existing mortgages so the obvious thing to do is buyback their own shares. Not only will this increase nav per share but also improve dividend cover as they get effectively a 13% return on any buy backs through saving dividends. This is better than the return they get from new mortgages so seems a no brainer.

[cnx] 16/1/2008 16:39

stemis and tilton boy

do you think we can expect a trading/situation update at/about interim time?


allen

[tiltonboy] 16/1/2008 14:29

SteMiS,

Correct. With the £ weakening against the Euro, the yield keeps on growing as well.

tiltonboy

[stemis] 16/1/2008 14:27

Last year the shares when ex div for the 2nd interim dividend on 24 January. If this years dividend is Eur 0.02 then its a 3.3% yield just on that dividend alone.

[tiltonboy] 04/1/2008 18:24

cnx,

Weak £ against the Euro certainly helps.

tiltonboy

[cnx] 04/1/2008 17:55

if pound continues to weaken against euro, the dividend is better covered? am i correct?

is this a sound play on pound weakness? i assume assets are financed by euros.

[ilancas] 18/12/2007 15:49

Whatever. It's good to see so many shares changing hands after a long decline.

p.s. -> respect if the buys were yours.

[tiltonboy] 18/12/2007 15:47

ilancas,

I think you will find that the 5.5m and 500K at 45.6p are buys.

tiltonboy

[davebowler] 18/12/2007 15:35

Hopefully that cleared the (back)log!

[ilancas] 18/12/2007 15:29

Unnnnnnngggggghhhh!

Ah, feels much better after that massive dump (12m shares).

[ilancas] 13/12/2007 12:43

Looks to me like it's going lower for now. However to be fair ARBT are on the bid at the moment. I guess one or two of their clients have bought in to their rec.

[tiltonboy] 13/12/2007 10:36

Ian,

(answering for Dave)... Arbuthnot Securities.

Despite their protestations of how cheap EET are, Arbuthnot have constantly been offering stock over the past few months.

Like many, I started buying this stock at far higher prices than this, on the back of the Arbuthnot recommendations. I have been buying a few more in the last few days, but even at these lower levels there is stock in abundance.

tiltonboy

[ianbrewster] 12/12/2007 14:40

Dave - can you say who issued the above??

I already hold in my SIPP and ISA (both well underwater), but am tempted by some more!!

[isa23] 04/12/2007 14:28

thanks Dave.

[isa23] 03/12/2007 17:54

I'm enjoying the divi (up this quarter because of a stronger euro), but certainly not the share price As I am a longe term investor though, share price doesn't really bother me. I've had a good look at the Prospectus, and short of a full blown recession in europe, things should be ok. There is plenty of scope for residential properties in europe (ex-UK) to fall before we are hurt. If the fund had a greater exposure to the UK than it currently has though, I would have been worried.

[ilancas] 03/12/2007 09:22

anyone else out there not enjoying the share price decline?

[cnx] 03/12/2007 02:52

anyone else out there enjoying the dividend yield?

[isa23] 24/8/2007 15:31

Good to see the rise for a change. Tipped today in IC as a Hidden Value share

[isa23] 21/8/2007 17:17

Spain accounts for 16% of portfolio & LTV is between 61 - 67%, so plently of margin of safty.
My guess is that most of those who wanted to sell eet have already done so. With not many sellers left I think share price should be supported at current levels.