New City Energy Share Discussion Threads

[spectoacc] 31/1/2017 13:30

NAV crept over 18p.

[pherrom] 30/1/2017 09:06

The investment advisor's report is quite bullish.

[spectoacc] 27/1/2017 19:51

Thanks, missed that. Still feels like they're giving up just as recovery is in sight, but I'd take the cash.

[pickledcabbage] 27/1/2017 19:29

Look at the news tab. Details about EGM and proposed winding up.

[spectoacc] 22/12/2016 10:17

@pherrom - if we get 16.5p back (latest NAV 17.07p, 15p might be more realistic), the shares got down to 9p, so that's almost doubling the share price from low, if not the NAV. :)

[pherrom] 22/12/2016 09:37

tiltonboy, you're right, it hasn't; I misread the figures from Morningstar.

[tiltonboy] 22/12/2016 09:09

pherrom,

I can't see that the NAV has doubled this year!

[spectoacc] 22/12/2016 08:51

@coolen - a rollover into say CYN perhaps should be on offer, I agree.

[riskvsreward] 22/12/2016 07:55

The cap is too small, fund performance too poor to justify the management fee and the directors pays. Winding up is perhaps the best option.

[pherrom] 22/12/2016 06:41

The net asset value has doubled this year, so you never know.

[coolen] 22/12/2016 00:42

Were the majority of long-term holders facing a CGT liability on liquidation, there may have been the additional possibility of a roll-over Offer.

Sadly, I doubt if this is the case with New City, but there's always a chance.

[spectoacc] 21/12/2016 08:56

Fair point @coolen - and frankly, if they get anywhere near NAV then I shan't be complaining. I'll be voting with the directors.

[coolen] 14/12/2016 22:48

I agree with Pherrom, but I suspect this reflects the dis-proportionate red tape required to run a small investment trust these days.

[pherrom] 14/12/2016 09:18

This seems to be exactly the wrong time to wind up the company. Oil prices have started to rise and fracking will become more profitable. I will vote against the winding up.

[spectoacc] 14/12/2016 09:11

Can't say I was expecting this - proposing to wind up & return funds. Was quite happy seeing the qtly divi roll in, & some of the holdings aren't going to be easy to sell.

[coolen] 25/10/2016 22:06

Have not looked at this particular case, but investment trusts are now allowed to pay dividends out of both income revenue and capital profits.

[kev0856153] 25/10/2016 20:43

Investment income for 6 months = £289,000

How can they pay out over £250,000 in dividends for the 6 months and then pay all the company expenses and investment management fee?

[spectoacc] 14/10/2016 15:12

For divi & NAV, am going to be getting near to buying again soon. Bid dropped so 12.5/14.5 but online is 13.3/13.6, amusingly tighter. Yesterday's NAV 17.57p, so about a 22% discount & 7.3% yield. Weak £ will have been helping the NAV - see nothing in the Top 10 holdings that's in Sterling.
Edit - UK 1.78%

[spectoacc] 11/10/2016 14:14

17.67p (must-stop-checking-daily)

[spectoacc] 11/10/2016 13:02

17.4p, can argue how realisable that is, but whilst the divi rolls in, can't say too fussed.

[spectoacc] 06/10/2016 15:45

Yesterday's NAV just reported - 17.13p XD. A NiCE little earner.

[412069] 15/8/2016 10:12

I did say HNL will be good for this one.

[spectoacc] 11/8/2016 15:08

Anyone seen John Baron's write-up? Am guessing it came out today on his website, but I've no longer got access.

[8w] 11/8/2016 15:03

Bought some today, all things being equal divi looks safe with funds in reserve to cover any temporary shortfall. Other than that it's a question of an improving oil price ?