|M&g Equity Inv Tst
||CAP SHS 1P
||EPS - Basic
||Market Cap (m)
M&G Equity Share Discussion Threads
Showing 151 to 174 of 175 messages
|And the definite result is .... Capital shareholders get 0p!
OK I made a loss, but I sold out about 4 or 5 weeks ago at 0.4p. Something was better than nothing.
Details in :-
|Robizm, yes I agree the caps will most likely be wiped out.
Did you notice that incs' NAV was 0.1p yesterday but 0p today?
Is this because the zeros' liabililty of yesterday was fully covered & the residue was assigned to the incs?
I too have been investing in splits for years but still can't understand why there is such a big difference (£2m) between the two published NAVs.|
|it is income and costs etc but 2 million seems high. these caps need a miricale to be honest|
|NAV keeps creeping up despite the markets falling! Interesting to see that they have included the portfolio breakdown in the NAV announcement today. With only two weeks to go, the u/l is still 65% in equities. At least that gives the portfolio a chance to perform should the markets rise.
Robizm, since you are an expert on splits you may be able throw some light on why there is a difference between the two NAVs published daily.
eg Today's NAV is £171.5m and the NAV of zeros is 98.25p(£169.43m).
So, how does one account for the difference of £2m? Surely, that can't all be management expenses? Is there still a loan outstanding?|
|I have been investing in splits for years and trust me the current nav is 98.15p which is why capital shares are currently worthless. read the rules and you will know i am right|
|The current NAV of zeros is NOT relevant; it is only their final liability, 172.45m, that is relevant when working out how much growth is needed.
c post 142.|
|of course nav of zeros is relevant as stated in my post they sill need more growth|
|The zeros' NAV of 98.19p is irrelevant, I think, as that is based on their value "From 31.00 GBp on 08 Mar 1996 increasing at 8.19% p.a., 12 times p.a. to 100.00 GBp on 08 Mar 2011". The relevant figure for current assets is the "net asset value at 12:00 noon today", ie £171.4m.
Apprx required rise in Footsie = 0.82% of 6087 = ~50 points
If the current market trend continues then the ~50 points rise might just be possible but for the caps that might not be enough as the u/l assets need to be fully invested, which I don't think they are.|
|todaysp rns say zeros nav is 98.19p so they still need 1.8p x 172.5 million = £3 million to break even and another 1.725 million for caps to be worth 1p. you are missing out fund manager costs etc so more than 1.4 mill is needed. we need 100 points on the footsie imho to make it, i hope they do but i dont think it will happen.|
|Assets assuming all revenue_reserves have been paid out = £171.4m
Zeros = £172.45m
Incs = £0.172m
wind_up_costs = £0.2m say
Total liabilties = £172.8
deficit now= 171.4 - 172.8 = £1.4m
% rise to clear the deficit= 1.4/171.4 * 100 = 0.82%
Can the assets rise £1.4m(0.8%) within the next couple of weeks?|
|Nav of zeros (yesterday) was 97.5 approx. multiply 172,500,000 = 4.25 million approx and need another 1.72 million for caps to be worth 1p|
|RIBIZM, how did u get the figure of £5m?|
|this still needs £5 million increse in assets for the capital shares to be worth anything though|
|So the revenue_reserve(0.46p) will be paid out soon(ex-date today).
|Well, nothing wrong with punting as long as u don't mind getting soaked occasionally.|
|Whoever bought in this morning must think we both have.|
|c post 132. have I missed anything?|
|I get :
Assets 170.8 million
Reveune Reserve -1.2
Show me what I've missed|
|Assets = £171.3 - 0.8 = 170.5m
%rise required ~1.1%|
|Is revenue_reserve = 0.47p * 172,000,000 = £0.8m ?
So, assets = 170.8 - 0.8 = £170m
Zeros = £172m
Incs = £0.172m
wind_up_costs = £0.2m say
Total liabilties = £172.4
So % rise required = 172.4/170-1 * 100 = ~1.4%
Is that possible within 2-3 weeks if most of the portfolio has been liquidated?|
|Isn't the answer to that in the latest daily RNS? As per :-
|NAv down by £1m yesterday; probably the div payment. Wonder how much revenue reserve is left now.|
|NAV keeps creeping up; now £171.8m
For caps to finish positive, assets need to rise by:
£0.37m + revenue_reserve + wind_up_costs|
|OK, point taken. does anyone know what the current revenue reserves are?|