M&G Equity Share Discussion Threads

[robizm] 07/2/2011 20:27

i think it needs more than that as some is income and wind up costs as well

[mangal] 07/2/2011 16:30

NAV today £170.4m; liability £172m; ~1% rise in assets required.

Despite the portfolio in process of being liquidated, the NAV is tracking the FT100 quite closely. Strange, unless a large portion of assets is still in equities.

[mangal] 04/2/2011 10:13

NAV yesterday £168.5m
Liability £172m

~2.1% rise required for Caps to finish positive.

[robizm] 28/1/2011 15:58

these are worthless unless there is a big market rally which is why i sold out as too much uncertaintyin the world. i reckon you need the ftse 100 to be at 6300 for these to be worth money

[whyme] 25/1/2011 01:13

So basically one looks at the pruchase prices of the holdings and trading (if any) try to judge the uplift, and hope that there maybe something left for a sandwich, but one has until 8th March 2011 before its sell by date expires, anyone holding at that point may have a sandwich, crumb or nothing ?

Depending on the risk you wish to take you may step off at any time but make sure you have some gaviscon just in case.

Is this correct ?

[zutalors] 24/1/2011 15:07

The risk is that on winding up the price of MEQC will be 0.00p. No one knows if there is any upside because no one knows the future.

[whyme] 24/1/2011 14:45

So the start of the winding up was the debenture, but the drop was so sharp is it likely to retrace its only going to be 2% of my portfolio.

What are the risk's apart from it dissapearing is there any up side ?

[zutalors] 24/1/2011 14:18

whyme,

Only if you fully understand the share structure of splits and who gets what and in what order on a winding-up (and what wind-up costs of this trust are likely to be)should you even contemplate dabbling here, imo. Unless of course you are into gambling.

[whyme] 24/1/2011 11:09

I see it has a cancellation date of March 2011, but the stock has hit rock bottom is this normal nearing a cancellation, winding up ?

As the stocks shown may have gained quite a lot and the revenues from them too, with such a small market cap.

If this was a normal stock then it could maybe hit at least twice if not more the current price, or am I missing a bit of grey matter here ?

[mangal] 24/1/2011 10:59

Couple of sites that may help:

[whyme] 24/1/2011 10:03

Hmmm it has some good holdings, now I am new to this type of stock whats the game here any ideas and guidance ?

[mangal] 24/1/2011 09:55

Have a look here:

[whyme] 24/1/2011 09:36

Anyone know what this trust has in its portfolio ?

[zutalors] 20/1/2011 12:08

Splitsonline showing est nav. of 4.55 as I'm sure you know. How much reliance may be placed on this figure ?

[lizzie ii] 19/1/2011 16:44

The asset value of the Zeros is now up to 97.4p ..... closer and closer to 100p ... which is where the Capital Shares start to kick in.

[robizm] 10/1/2011 12:26

I sold out on Friday as £3500 profit had to be taken

[chrisgail] 06/1/2011 20:13

We've gained 1.3p in asset value today so we are getting there. The Gilts are of course yielding a known income.

As you say we wait.

[robizm] 05/1/2011 20:34

I bought 600000 at 0.004 and i have kept half and also made a profit. i am more worried about the 10% in gilts, will wait and see as not long to go now

[chrisgail] 04/1/2011 22:33

Robizm. The do clearly have a fair amount of cash in preparation to pay off the Debenture £40M next month. But this will be earning some interest. The equities they still hold certainly moved in the right direction today and as a result the overall value of the company went up £1M. Not the greatest result when the market has gone up 2% But I think they are working fairly hard to pay something out to the Capital Share holders. They are an Investment Company who earns their own living by making money for the investors and paying out to all is very good publicity.

If you overlay the BP share price graph you can see a close correlation. BP remains a sizeable holding so a little more of the ongoing recovery will help.

As a result of the above I'm holding I think in about a months time it could be getting very interesting.

[robizm] 04/1/2011 20:11

i am selling as many as they will take as cant see them makin money. too much of the portfolio in cash already

[robizm] 27/12/2010 20:34

the zeros are on £169.1 million assets according to the aitc website. one big rise is all they need.

[robizm] 23/12/2010 19:12

they need a good jan 2011 as M & G WILL be selling shares already. the capital shares are not their priority w hich is just paying off zerosw

[mangal] 23/12/2010 13:16

Yes, getting close to tipping point ie the liabilities are almost covered. Once past that, this should rocket. It's going to be touch & go though as, besides the zeros, the loan of £40m has to be repaid & the winding up costs have to be taken into consideration too. Almost there but a lot depends on how the markets behave over the next couple of months.
BTW, about a quarter of the portfolio is in fixed interest & so most of the asset growth has to come from the remaining equity portfolio.

[robizm] 23/12/2010 12:29

It is the Net Asset Value that counts. Once the Zeros have there £1 you then have £210 million of assets adding value to the capital shares, so if the assets grew by £10 million your capital shares are worth 5p. The ZEROS must be about 96.5p net asset value today so getting close.

[wearehere] 23/12/2010 09:38

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