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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| M&G High Cap | MGHC | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 0.04 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.04 | 0.04 |
| Top Posts |
|---|
Posted at 07/5/2013 18:04 by aleman Here's last time the capital shares were in the money, with no separate ex-income NAV:18 June 2008 M&G High Income Investment Trust P.L.C. The Board of M&G High Income Investment Trust P.L.C. announce that the net asset value at 12:00 noon today was £70.3 million. Income Shares 75.32p Capital Shares 0.43p Zero Dividend Preference Shares 55.52p Income & Growth Units 75.75p Package Units 131.27p The net asset values have been calculated on a cum-income basis, with dividends payable deducted from net assets on the ex-dividend date. Financial assets are valued on a mid-market price basis. END |
Posted at 06/5/2013 08:15 by timbo003 coolenThe quoted NAVs for all classes of M&G shares, except for the package units (MGHP), are fairly irrelevant until we get close to wind up (March 2017). I think the best way to look at it is to consider the Zeros to be worth their redemption value at all times (i.e. 122.83p/share) and then consider what the other shares would be worth now, if the company was wound up now and the zeros were paid out in full. If you do that using Fridays NAV value for the package units NAV (including income): 157.44p NAV (excluding income): 155.31p Then: MGHI (income shares) would be entitled to 32.48p (plus 2.13p income)/share. Therefore real NAV (now) = 34.61p/share MGHU (one income share plus one capital share) would be entitled to 32.48p (plus 2.13p income)/share Therefore real NAV (now) = 34.61p/share MGHC (Capital shares) would be entitled to nothing and it would require growth of 37.52p in the value of the package units in order to qualify for any payout Therefore real NAV (now) = -37.52p/share Obviously there are option values you can add to the value of both MGHC and MGHU (and indeed MGHI), but you cannot work those out from the published NAVs, you need to apply appropriate mathematical models, such as Black-Scholes, to obtain fair value for that element, as I have tried to do here: |
Posted at 15/4/2013 13:28 by aleman -2.46p then subtract the 37p that is still to accrue to the prefs over 4 year. (You might learn more on the MGHI thread.) 12 April 2013 M&G High Income Investment Trust P.L.C. The Board of M&G High Income Investment Trust P.L.C. announce that the net asset value (NAV) at 12:00 noon today was £390.6 million. Income Shares * 70.48p Capital Shares 0.00p Zero Dividend Preference Shares 85.44p Income & Growth Units 70.48p Package Units 155.92p The net asset values have been calculated on a cum-income basis, with dividends payable deducted from net assets on the ex-dividend date. Financial assets are valued on a mid-market price basis. * The ex-income NAV of each Income Shares is 67.56p. |
Posted at 29/9/2006 10:53 by cityfarmer Hi Crisp007,Agree with your post above and topped up earlier in week with MEQC which in line with MGHC are both looking good for further rises. If the FTSE is preparing for a good run then both of these shares will be little gems in a couple of years. |
Posted at 11/1/2006 10:34 by cityfarmer Hi tiltonboy, that's about right 4.5% per year, how much has the FTSE gone up so far in January 06? Not for every one but a bloody good geared play on the FTSE. A FTSE of 9000 by 2017 doesn't sound too optimistic to me. MGHC do actually have a considerable amount in the 250 which is rising even faster, you pay your money and takes your chances to me this looks a good bet. Also worth noting the package units trading at about 1.37 when their NAV is 1.46 so at wind up (2017) the NAV is the figure that matters Opthalmist, I managed to retrieve my laptop from the water so any chance of replacing the pretty picture with MGHC graph? |
Posted at 22/8/2005 17:32 by cityfarmer Cheers Rambutan, just visited the JDT thread and you have lots of friends there perhaps when that fund winds up they will come and play with MGHC. I think MGHC are as cheep as chips wouldn't you agree? The gearing is quite incredible for the price and on a long term play on FTSE 250 and NAV of 21p well worth 10p and as you point out no dedt. In the past when they start to move they move so lets hope for more tomorrow although am out of the office so will leave you in charge my new friend. Happy investing.......... |
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