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Guin.Flght Vct Share Discussion Threads
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|Oh dear, looks as though they might have to start actually doing something!|
|Not exactly a great start to their tenure then! The old trick of coming out with news worse than reality, so that they can look good when the value goes back up just shows them in their true light - this method actually allows them to do nothing and still look good. IMHO|
it is the new management that have written down the valuations on several investments...
Guinness Flight Venture Cap Tst PLC
29 March 2007
Guinness Flight Venture Capital Trust PLC
The Directors expect to issue the preliminary announcement of results for the
year ended 28 February 2007 according to the usual pattern at the end of May.
Following a thorough and ongoing review with the recently-appointed manager,
Aberdeen Asset Managers Limited, the Directors have become aware of specific
adverse material developments concerning three portfolio companies, which are
likely to result in a write-down in asset value of approximately 19p.
A full revaluation of the portfolio has not yet been completed; however the
Directors believe that other portfolio companies are performing in line with
expectations or better. Taking the performance of these companies and other
factors into consideration, the Directors believe that the overall effect of the
developments mentioned above is likely to be a reduction in net asset value per
share as at 28 February 2007 to not less than 48p.
By Order of the Board
Aberdeen Asset Management PLC
29 March 2007|
|Looks like its time to have some new management as they appear to be fumbling idiots to loose some much value.IMHO|
|I am going up to the AGM of Downing Healthcare next week - have been talking to the chairman - one other underperformer but the real dogs are probably the Murray ones. I think there is scope for shareholder activism here - they have probably been having things too much their own way. Plus the fact that shareholders are dying like flies.|
Worse? best part of 70% loss over 7 years is moderately poor. I suppose he could have recommended a nag in the 2.45 at haydock, but at least it would all have been over quickly one way or the other.
I'm afraid I have been hopelessly hands off on this. The vote for continuation completely pased me by. I have moved house since getting these, and wrote to let them know, but have just been passed the interims on from my old address, so goodness knows what might have happened to other post.
Sounds like a sensible plan. Cheers.|
|dayjob - just thank your lucky stars that your ifa didn't put you into something worse. Wind up - no hope - we just had the chance to vote for continuation.
Have you ever seen an IFA driving a small car?
I have been buying these recently as they seem to have considerable upside. What is needed is not wind up BUT some good sales and then capital distribution which are tax free. Keep in touch and we will all go to the AGM.|
Sorry for not replying - I tend to look at this donkey annually (unlike the hour by hour that hrn warrants).
I was put into this by an independent financial advisor, now retired, when it started in 1996. He also managed to lose my mum about 70% of her investments.
I just wish we could petition to get this wound up - I would happily take the NAV of 77p and a 23% loss over 8 years. Reading their interim report, I just can't see any way this will ever perform, we're just keeping these clowns employed.|
|CR - will keep you in touch if anything happens : good hunting|
|dayjob - were you put into this by an Allied Dunbar or Rothschild salesman?
I believe they pushed this one hard.
Thanks for getting me here A0002577 - had my bit out of Prelude Trust, not really my sort of stock tho I can see the interest.
|Still dropping - topped up with more yesterday. Don't think they can buy back at the moment (close period) so any more sells could produce another buying opportunity. Have a look at NAV and then see that actually this is one of the better performing VCTs and they haven't realised anything yet - could be in for some in the very short term and they can then give nice tax free dividends|
|It would seem that they may sometime soon now realise one of their holdings - which may mean a significant capital distribution. Theie portfolio is actually doing quite well compared to other VCTs|
|If the Guinness Flight VCT shareholder has not got rid of them yet - did you know that you can try and sell them back to the Manager. I am a fellow shareholder and can assure you that it because of the illiquidity of VCTs in the secondary market rather than poor performance of the Fund Manager that pushed the share price down. I have noticed recently that someone has been quietly buying stock over the last few weeks....|
|yep bought these at 40p few weeks ago .pleased with rise so far seems buy back is pulling them back .|
|just on the offchance....|
|I was put into this dog by my (ex) financial advisor when it started in early 1996. Issue price £1.00
It's been a one way journey since then, even though as a VCT might have been expected to have been weighted to the sort of .com's which could have led to a very interesting ride thru 1999-2001. At least I was spared the roller coaster ride. This is more like being pushed round Broadstairs in a wheelchair.
The most exciting aspect of the portfolio is a 1/3 share in Sooty...
Anyway, last published NAV was in excess of 83p, yet the bid is 33p. The question is, is there anything shareholders can do? Ideally, can we make them give up and give us our NAV back?
Any constructive ideas please?|
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