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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| P2P Global C | P2P2 | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 905.50 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 905.50 |
| Top Posts |
|---|
Posted at 24/2/2016 10:01 by davebowler Liberum;P2P Global Investments (BUY) C share conversion to take place in March Event P2PGI yesterday announced that over 90% of the net proceeds raised in the C share issue in July 2015 will shortly be invested. Conversion of the C shares into ordinary shares will take place during March following the announcement of the February NAV for both share classes. Once the share classes have merged, P2PGI expects to resume a regular quarterly dividend with the dividend for Q1 2016 to be declared in April. Separately, P2PGI also announced the NAV for January with the portfolio delivered NAV growth of 0.41% and 0.48% respectively for the ordinary shares and C shares during the month. Liberum view The merging of the C shares is in line with the 6-9 month target set at the time of issue. The majority of the portfolio metrics have remained broadly unchanged in the month with the weighted average coupon on the ordinary shares stable at 10.0%. The coupon on the C share portfolio was 11.3% (vs. 11.5% at December 2015) and we believe this is mainly due to a change in the portfolio mix (slightly higher allocation to A grade and lower weighting in D grade). The gearing on the ordinary shares rose to 78% by the end of January (69% at December 2015). The ordinary and C shares are currently trading on discounts to NAV of 17.1% and 16.5% respectively. |
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