Media And Income Share Discussion Threads

[redsonning] 27/11/2001 14:35

The zero preference shares (zps) have capital entitlement and predetermined growth (if enough assets are there) but receive no income.
The income shares receive dividends as detailed in the original listing.
The Ords get dividends and the capital growth if there is any after all other classes of share have been paid their prior entitlements on wind-up of the trust.

[bsg] 27/11/2001 13:03

What are the three types of shares in this fund, i.e what are zps - thanks.

[redsonning] 27/11/2001 13:01

bpoole - Congratulations on buying bravely, and yes you will be looking good if everything goes OK on the divs. However you are making some mistakes with the relevance of the numbers you quote. The Prefs currently are quoted as having an NAV of around 69p, but you have presumably bought the Ords and they have no NAV at all. In fact they are theoretically negative since at present increases in the assets will continue to enhance the Prefs until they are back where they should be. So far as the Net Tangible Assets which you are quoting, I know where you have seen the number, but I'm afraid that in practice some of the numbers which are to be found around the various sites are very dangerous indeed.
However with luck you will get rescued by a general firming in the market.

[bpoole] 27/11/2001 10:50

Novision,
You are quite correct what you say.
This is a punt that the share price bottomed at 4p.
I bought at 4p. The company has said there is no plan
to pass the next divi paid in January of 2.25. That will
be 56% of my investment back. Net Asset per share is 62.42p
Net Tangible Asset per share is 44.81p. Of course we
are gambling that the market will recover. The big funds are
already moving out of Bonds and safe stocks and back into TMT.

[redsonning] 27/11/2001 10:29

Novision - You are to some extent making my point for me here (although I have no wish to upset emmanuelclave by putting anyone down - my comments were more intended to be a taken a little tongue in cheek for the sake of stirring up some debate).
It is a P&L which is far more backward looking than a balance sheet. The significant balance sheet info on investment trusts is pretty much available to anyone daily if you care to research it, and tells you a huge amount the trusts potential future.
The balance sheet, like the Tesco receipt, tells you how much you have paid for something, but investment trust balance sheets also tell you what your purchased goods are worth now in the market at sell-on price. They also tell you how much you owe your bank.
It is worth getting some understanding of all this unless you want to rely on using a pin. When an investment trust share stands at under ten pence the price is trying to tell you something about the balance of risk and reward. There is very little trading at present on something like MEI and a little bit of speculative buying has allowed the market makers to move up the price a bit and offload some stock - but this is a trust with some difficulties to solve.
I leave you to work out the details.

[novision] 27/11/2001 09:05

redsonning - a balance sheet is a backward looking, out of date, subjective piece of accounting information and a Tesco receipt tells you what you paid for your shopping - come to think of it there are a few similarities - have you got anything useful to say?

[emmanuelclave] 23/11/2001 08:31

redsonning
thank you for your comment.
However, if you have something to say beside putting people down, I will glad to hear it, otherwise thank you and have a good day

[redsonning] 22/11/2001 22:03

It's interesting to see you guys talking - although I suspect that most of you wouldn't know the difference between a balance sheet and a Tesco receipt!

Whilst you're not wrong that there are some useful situations around at the moment you need to understand how to tell the difference between a dog and a pony - and I certainly don't intend to give you any free lessons on how to do that!

You punters help to make trading such a lovely intellectual game.....

[bpoole] 21/11/2001 10:28

Nav for Pref Inc up 57% on week!

[bpoole] 16/11/2001 13:03

There are a lot of Investment Trusts that are worth a look at.
Most of them have large spreads but they still have high yields.
These are long term shares ideal to stick in a ISA and watch them
grow.
I keep topping up with JPT they yield 16% at 55p. Sometime the
economy will recover and these will be nice little earners.
Also take a look a look at Invesco Recovery (IVT). Only 7.5% yield
but very high growth potential.

[spikkymikky] 16/11/2001 12:41

And so will I. Good comments everyone.

[bpoole] 16/11/2001 00:18

Novision, did you get in.
Do you still go to the meetings in Cambridge?

[novision] 16/11/2001 00:01

Emmanuel - Looks like someone did - up 50% !!!!

[bsg] 15/11/2001 19:28

So will I.

[wigsyboy] 15/11/2001 17:16

emmanuel.

Here's a comment from nothing-ventured.com

"Retail punters are diving back into the investment trust in the hope that it has done well out of the recent recovery in media shares. Hopes have been high that an economic recovery is not that far away and with Christmas speeding its way into view media stocks are seen benefiting from the expected advertising glut."

I'll tell you what, I'll be up first thing tomorrow to dip my speculative toes in too:-)

Wig$

[emmanuelclave] 15/11/2001 16:08

bpoole
The only thing of concern is that is has been continually going down for the past 12 month, and everytime a rise cam, it was followed by a sharp fall.
Any target price in your opinion ?

[bpoole] 15/11/2001 16:01

emmanuelclave
The Nav almost doubled in the last report.
These splits looked in trouble a while ago.
But with a rising market these shars will be
high geared. Look at the chart there is no
reason why these shares should not go back up to a
pound.
Also check out JPT. These are money for old rope.

[emmanuelclave] 15/11/2001 15:43

Does any of you gentlemen knows why the sudden rise ?Barely no trade ?
Likely to go on, down ?

[bpoole] 15/11/2001 15:19

Novision

There are several of these bombed out Investment trusts
that are paying stupid dividends.
Take Jersey Pheonix, even at 55p they are yielding 16.3%.
They have just announced a dividend payment thus.

RNS Number:1222N
Jersey Phoenix Trust Ld
14 November 2001


The Board of Jersey Phoenix Trust Limited today declares the payment of the
first interim dividend for the year ended 30 June 2002 of 2.25p per share
payable on 28 December 2001 to shareholders on the register at 23 November 2001.

For those shareholders who have elected to receive their dividends in Ordinary
shares the basis of allocation will be announced during the week commencing 10
December 2001.

In the absence of unforeseen circumstances the Board expects to pay two further
interim dividends of 2.25p each and a final dividend of not less than 2.25p in
respect of the year ended 30 June 2002.

The Board also announces its intention to empower the Company to buy back its
own Ordinary shares and Zero Dividend Preference shares and it is hoped that the
Company will have received the necessary shareholder consents by 31 December
2001.

[novision] 15/11/2001 14:45

there you go 100%, knew it could do it !

I'd settle for 30p Brian.... :-)

[novision] 15/11/2001 14:43

only up 90% - pah ! I know it can do better than that !

[bpoole] 15/11/2001 14:37

Could be ten bagger by March (40p). If you got in at 4p that is.

[novision] 15/11/2001 13:30

Hi Brian - yes I got in - small punt in view of the spread but a satisfactory 20% up now plus the div which will be another 30% I think. So very pleased ! We still hold the Cambridge meetings - come along and I'll buy you a drink. I owe you one if this keeps up !

[emmanuelclave] 14/11/2001 20:19

Novision
Try to ask it twice, never know....

[novision] 14/11/2001 18:39

Up 0.5p luvverly - I'll ask the same question tomorrow if that's all it takes!