Share Name Share Symbol Market Type Share ISIN Share Description
Jup Ord. LSE:JDT London Ordinary Share GB00B0M3FZ66 ORD INC SHS 8.98274742P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 3.00p 2.25p 3.75p 3.00p 3.00p 3.00p 0 05:00:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 2.2 1.2 3.7 0.8 2.75

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Date Time Title Posts
10/10/201612:37SPLITs Followers' Thoughts for 201683
04/1/201615:39SPLITs Followers’ Thoughts for 201554
01/6/201507:51SPLITs Followers’ Thoughts for 201479
25/1/201418:07SPLITs Followers’ Thoughts for 2013169
31/12/201214:39SPLITs Followers’ Thoughts for 2012193

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Jup Ord. Daily Update: Jup Ord. is listed in the Equity Investment Instruments sector of the London Stock Exchange with ticker JDT. The last closing price for Jup Ord. was 3p.
Jup Ord. has a 4 week average price of 3.07p and a 12 week average price of 3.03p.
The 1 year high share price is 4.75p while the 1 year low share price is currently 2.50p.
There are currently 91,675,333 shares in issue and the average daily traded volume is 39,107 shares. The market capitalisation of Jup Ord. is £2,750,259.99.
gary1966: TMMG good results yesterday to confirm what was expected. Second half off to a good start and meeting expectations. Pleasant surprise about the dividend hike and so looking like 2p for the year now. Share price up 12% yesterday but the message seems to be getting out there, probably as a result of a couple of positive broker notes yesterday that are posted below, as they are up another 7% today. Edison view from this morning: "The mission continues to flesh out its offer, scaling up and adding to its capabilities through small acquisitions and start-ups. H116 figures show double-digit growth in operating income, with adjusted EPS ahead 15% y-o-y, solid cash flow and a good step-up in the dividend. A number of high-quality names are added to the client roster, including O2 and Halfords. Greater emphasis is being placed on collaboration between the networked agencies, which should maintain the new business momentum and enable the group to win a greater share of spend from existing clients. The deep valuation discount to sector looks increasingly incongruous." finnCap view this morning: "Once again, the group has produced a good set of interim results in line with our growth expectations. The results confirm that recent acquisitions are continuing to trade well and that global capabilities have been further strengthened. Profit and earnings forecasts remain unchanged, although the 67% increase in the interim DPS results in DPS upgrades. The stock is now yielding 4.1% and sits at an EV/EBITDA of 4.3x, reflecting a significant market discount. Our 60p target price implies 64% upside." both taken from Research Tree
gary1966: Picked up a few Talktalk below £2 at the beginning of the week. Not convinced that things are as bad as the share price has suggested. Company has re-affirmed dividend for this year will be at least at the same level as last year and so yielding nearly 8%. Only a small position but would drip feed more in as funds permit and if share price continues to weaken. Hopefully interim results and a trading update on TMMG will get the share price moving again this week as currently trading on a forecast P/E of a smidge over 5 and currently trading near 52 week lows.
gary1966: Sold TECH this morning on the spike up for a three week 39% profit. Will be back in if they drop back. Should have sold TRD on their recent spike with a 50% gain available in a week. TRD have gone down a bit as I didn't sell. TECH will carry on rising probably because I did sell. Fantastic announcement on PCA today but not really done much for the share price except widen the spread again. :-(
skyship: After the bizarre happening last Summer when the LMS Capital (LMS) BoD tried and failed to usurp shareholders wishes for liquidation, many continue to harbour doubts as to the Board’s probity. However, there is no escaping the 4 principal facts: 1. Their past performance with the liquidation process has been impeccable, with 63% of the NAV at the start of the process having already been returned – a figure equal to the MCap at the start of the process 2. The liquidation process is again on track with a 28.7% tender at NAV in Dec’15 3. At the AGM last month the BoD again reaffirmed the liquidation process and the continuing return of capital through Tenders; and for the first time they put a timescale to completion of the process – essentially by Dec’17 4. The current NAV = 88p; versus the offer price of 63p; ie the shares are trading at a full 28.4% discount, even though in liquidation mode These are the basic facts which should justify an element of research. That research will quickly uncover last month’s AGM statement which revealed that already the Company is refilling the cash coffers – now up to £15m, so likely halfway to what will be needed for the next Tender. So, now one needs to practice a little conjecture. Say the next Tender will be declared again for 28.7% - that would translate to 29.7m shares @, well let’s be conservative and predict an NAV fall from 88p to 85p, so @ 85p would cost £25.25m. Note – we already have £15m in the kitty! So, buy @ 63p…..sell a minimum of 28.7% @ 85p…..yes, that’s a profit of 35% on that part. But wait, it gets better. First, there is the official Tender overage – that was an additional 3.4% in the last Tender, the 4th Tender providing these profitable trading opportunities. Add to that the unofficial overage which arises from having your stock held in a Joint Stock Nominee Account. I got another 7% from Selftrade last time around – a total of 39.4% redeemed at NAV. Many posters on the LMS thread did even better than that. The Nominees overage is a fickle friend paying out better for some than for others – but always more! This aspect will only make sense to the professional investor; but the few who visit here are just that, so I won't dwell on that. The final soupcon of information for the time-being. The well-respected IC tipster Simon Thompson has just revisited LMS. He wrote a piece on LMS yesterday. I won’t post his entire article as the IC Online is a subscription site; however, I will post his closing remarks: ======================= “Of course, the fall in LMS's net asset value from 96p last autumn, to 92p at end of December 2015, and to around 88p now will make some investors cautious even though the aforementioned one-off hit on an unlisted investment and the fall in Weatherford's share price account for the vast majority of the decline. However, I believe the discount is simply too deep given the impressive track record of the company in successfully divesting its interests. I also believe that given the surge in the cash pile, and the fact that LMS's uncalled commitments to funds it has invested in is only £4.1m, then it's only reasonable to expect LMS to make another hefty cash return later this year through a tender offer pitched at net asset value, a factor that is simply not being reflected in the share price. The company is due to report results at the end of July and I would anticipate further news on likely capital distributions then. I would point out too that every time the company has announced a tender offer the share price has bounced back strongly. Needless to say, I rate LMS Capital's shares a buy on a bid-offer spread of 62p to 63p.” ==================== So, in a difficult year VALUE is hard to find. LMS certainly represents VALUE. And if you are still looking for a hedge against a plunge in CABLE following an unlikely BREXIT vote, the LMS portfolio is 66% $-denominated.
gary1966: Down heavily on RTN but bottom possibly in now and starting a turn up. For all you TA investors there are some tasty gaps well above current levels. Takeover speculation beginning with the share price at current levels.
sleepy: Can I ask if anyone can point me to a website which shows the relationship between share price and NAV (or premium/discount) in recent years for established property investment trusts such as Standard Life Investment Property and Picton?
skyship: Time to return to my successful 2014 tip (see Header) - Tertiary property investment company Local Shopping REIT (“LSR”) has proved a helter-skelter ride over the past 21months. From a start in Sept’13 at 25p, the shares have traded: 25p/32p/25p/40p/32p/37p…and now back to 28p. Great for swing-traders; not so good for those that BUY & HOLD! Over that time the new managers Internos, brought in to implement the new liquidation policy approved in Jul’13, successfully sold 50% of the portfolio (Aug’14), so relieving the pressure on the Balance Sheet from the excessively high 82% LTV pertaining at the time. In Q4’14 they confirmed the marketing of the 50% balance, attempting to make another single block sale rather than liquidating via piecemeal sales. A buyer has been in the wings for some time; and with the Commercial Property sector still buoyant, interest rates still low and the General Election providing a positive result for business, it might well be that a single block sale could still provide an early, profitable exit for shareholders. There has to come a time however that Internos should call time on negotiations and enter into a more active asset management and disposal programme. The lack of news has caused the shares to drift back to an enticing level; such that just this week activist fund Damille Investments 2 has announced the £4.6m purchase of a 19.9% stake from long term holder New Solera – an investment company about which frankly nothing is known! Being a listed company one can more readily find out about DIL2. Their investment performance has been pretty dull since their 2011 launch; and they now run a very cautious ship, with 50% of their portfolio in CASH. Plainly they see LSR as a mis-priced opportunity – see Extracts below: Extracts from Chairman’s Statement in the Annual Report to 30th Nov’14: ========================================================= “At the date of this report the Company is cautiously positioned, with weightings of 49.25% in equities and 50.75% in cash (including net working capital) at the Year end. Since launch the Company has invested over £93 million and realised over £61 million, generating a realised gain of approximately 14.4% on its investments. Our view remains that near term the outlook is challenging for the risk averse investor. Our investment philosophy is that the price paid for an investment is the most important factor in mitigating the risk of permanent capital loss…………………. ……………….. In this environment – where the risk of permanent capital loss is high – we believe it is prudent to maintain a healthy cash balance. Fortunately, periods of extreme complacency such as the present do not last forever and we continue to monitor markets for the mispriced opportunities we seek and have traditionally exploited. In short, we believe that market volatility will increase and that the Company is very well placed when it does so.” They go on to say under the OUTLOOK heading: “There are a number of issues influencing market sentiment. The most obvious of these is the long-running support to markets provided by central banks through their ultra-loose monetary policy. It is clear to us that without such support, markets would likely not be trading at such elevated levels. What is less clear, and what concerns the investment community, is what will happen as stimulus is withdrawn and policy tightens. The Company is positioned with this probable headwind in mind. The Company is cautiously positioned and we have every expectation of being able to deploy further significant capital in a variety of existing and new holdings subject only to securing those investments at a sufficient discount to our opinion of the realisable value of those investments. The key is to apply patience and discipline in pursuing our investment strategy. In strongly rising markets and extremely benign market conditions this can be difficult but we are confident that this is the correct course to take. The Company’s aim remains to invest in situations where we believe the share price represents a significant discount to the realisable net asset value and then to realise that value in the medium term. We are confident that our investment strategy and processes will continue to provide attractive returns in the medium and longer term. Whilst we do not make macro judgements, we believe quantitative easing (“QE”) has distorted markets and added downside risk. It seems logical to us that if QE has inflated the prices of many risk assets, then its removal may at least lead to some volatility. The Company is well positioned to take advantage of any such volatility in the prices of the securities we track and analyse.” ======================================================= These words in particular seem relevant to LSR: “…we continue to monitor markets for the mispriced opportunities……… to invest in situations where we believe the share price represents a significant discount to the realisable net asset value and then to realise that value in the medium term.” So what of that VALUE? Well, the NAV has remained pretty constant over the past 2 years. As the Company itself admits, the secondary/tertiary High Street retail sector hasn’t really shared in the value uplifts prevalent elsewhere – see this extract from the LSR Interims in May’15: “Whilst other sectors have experienced a surge in demand from overseas and domestic institutional capital, local shopping has been largely ignored. Good quality shopping assets continue to sell well at auction, particularly when located in attractive towns or larger cities, but there is little investor appetite for lesser quality stock.” In those same Interims the NAV was stated at a static 42p; or an adjusted 47p stripping out the reducing debt swaps liability. The debt is dated to end Apr’18, but fortunately, as stated at the end of the Chairman’s statement accompanying the Interims, the hedges expire in just 12months time: “Since the change of investment strategy adopted by shareholders in July 2013 we have sold GBP84.2 million of property, representing 49% of the Group's portfolio at that time. The remaining assets have been marketed and ongoing discussions are taking place with an interested party. In the event that those discussions prove fruitless then we will continue with a sales programme of individual assets or small portfolio sales. The majority of the interest rate hedges attached to the Group's debt expire in June of next year. This should result in a significant reduction in the Group's financing costs, with a corresponding improvement in cash flow, enabling us to accelerate the pace of disposals unfettered. To that end we will seek, subject to market conditions and capacity, to complete the disposal process by the end of 2017 and return cash to shareholders as soon as possible thereafter.” So, one might assume that if Internos are successful in flushing out a single buyer, shareholders might expect a c40p pay-out in perhaps just 6months time. If instead they have to work for their fees and go the longer route, then shareholders might expect a higher net figure, perhaps nearer 44p, but will have to wait almost 3 years to get that figure. Either way, LSR surely represents great VALUE, as the GRY on the former would be 90%pa (a 40% gain in just under 6months); whereas the latter would provide a GRY of 16.9%pa to 31 Mar’18. An outlier view might be that power rests with the Buyer in this case, so an offer resulting in just 38p for shareholders might still gain acceptance, especially as that would still result in a 33.3% gain from the current oversold 28p. LSR is a classic, out-of-favour and oversold asset play, which benefits from the one simple positive – it is in liquidation mode, so that discount WILL narrow and the value WILL be returned – perhaps sooner; perhaps later. They represent a great value buy at Friday’s offer price of 28.5p.
gary1966: I hadn't previously made the connection between MVI, Skyship's pick for 2015, Haversham and Cenkos Securities and so apologies for returning to them so soon after my original mention. Cenkos dealt with financing the transaction and have already announced that it will have a significant impact on revenues this year. Along with the 9% tender offer in January, business YTD and the encouraging pipeline of new business I cannot see the dividend being any less than 19p, in fact I could see it being quite a bit more, which means the shares currently yield 10%. Strip out cash and shares are trading on a historic P/E of less than 4. Share price performance historically has been good over the summer months and so on any metric the shares currently look very cheap.
gary1966: Oh well doesn't look like I will be getting divi's in years to come on Plus500. £4 offer on the table from Playtech. Seems low and so will be interesting to see if there is a counter or increased offer. Odey hedge fund own just over 20% and so I guess it will decide the co's fete. Underpins the share price for the forseeable future. After averaging up, my holding price is £2.35 and so good result in just over a week but was looking forward to those future dividends.
gary1966: Skyship, That article really only outlines the half of it. EME is almost an investment company now. It is clinging onto the coat tails of MRO who are the major party and operator of their acreage. MRO are selling other assets to concentrate on the Eagle Ford shale plays and are ramping up massively the drilling campaign. They are also developing other zones within the acreage which is looking equally good and will increase recoverable reserves massively. They are also down spacing drills from 80 to 30-40 acre spacing. There is talk ultimately of the field being developed at 20 acres. Once again this will greatly increase recoverable reserves. Drilling costs have tumbled and new drilling techniques are boosting recoverability and there are few better than MRO at this. If the company doesn't get taken out this time around then it will be a cash cow for years to come with hopefully some very juicy dividends. Finance is already in place to keep up with MRO drilling plans. If it gets taken out this time around then recent takeovers, ie Baytex takeover of Aurora Oil & Gas, involving their acreage would value EME at north of 30p per share. Cenkos who are involved in the sale have stated that there has been lots of interest. I accept that if interest doesn't translate into a sale then the share price will in all likelihood fall back a little. However fundamentals will kick in again at some point and they can support a share price well north of where it is now. With regards to the share price not reacting once the data room was open, I can only refer you to Cove Energy that went down the same route. Data room opened and the share price stayed around 80p the whole time. Taken out at around 225-230p from memory. Same multiples will not happen this time but just illustrating that nothing can be read into the lack of share price movement. Yes I am well in profit as you suggest but recently added another 100K in my SIPP at 16.95p. AXA have been picking them up steadily since the data room was opened. A number of respected ADVFN posters hold notifiable positions, namely Lazarus2010 and thetoonarmy2. Crosseyed and Jamsiebabie have also done sterling work and so it is worth looking at all their posts. I do appreciate that they won't float a lot of peoples boat but I do think they are worth a little research.
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