||EPS - Basic
||Market Cap (m)
|Polar Capital Daily Update: Polar Capitel is listed in the sector of the London Stock Exchange with ticker PCFS. The last closing price for Polar Capital was 13.38p.|
Polar Capitel has a 4 week average price of 12.85p and a 12 week average price of 11.73p.
The 1 year high share price is 17.38p while the 1 year low share price is currently 2.25p.
There are currently 0 shares in issue and the average daily traded volume is 102,934 shares. The market capitalisation of Polar Capitel is £0.
Yes. A trustee has been appointed. So investors not wanting to or can't afford to exercise can just let the subs lapse.
Yes again. There are risks leaving it to the trustee. For starters because the trustee will have a lot of lapsed subs to exercise it's likely he/they will have to sell the shares lower than the sell price at the time.
But even then, as has just happened with recently expired SLES, the trustee price return after their expenses can be a lot better than the final sub share sell price.
E.g Final SLES sell price was 50p but trustee got just over 70p. But share sell price was about 403p so at 320p exercise price you can see 70p is no better than OK.
Another risk using the trustee is if the share price falls after sub share final expiry date but before trustee has exercised. Then if share is not much above exercise price you could end up with nothing.
So best advice is sell the sub in the market if the price is OK but to leave it to trustee if PCFS is at a big discount at expiry.
Btw. PCFS is unlikely to attract arbitrage buyers as the subs can only be exercised at expiry. If PCFS could be exercised at any time THEN the current big discount would attract arbitrage buyers.|
|kenmitch: Have also posted this on PCFT and "the warrant thread" bb. Probably very few readers on any of them to benefit if bank rally continues!
PCFS are now exceptionally cheap and that's despite a 250000 buy at just 12.2p today.
Share is currently 130.25p to sell, so PCFS is worth 15.25p. So 12.2p is a real bargain.
Guess that PCFS will now stay at a discount but until close to expiry it surely won't get much wider?
150p for the share looks a reasonable target if banks continue to rally on Trump infrastructure and other spending hopes and the increased chance of higher interest rates as a result, which are good for bank margins.
Even if the sub goes to an even bigger discount.. say only 25p with the share at 150p compared with the 35p it would then be worth,, that 25p still double the current price for a target 12% or so on the share price.
And if the discount is wide at expiry and not wishing to exercise, then with such a big discount, it could pay off for once just leaving it to the trustee.
SLES are about to be exercised. Share is over £4 so surely Trustee will get better price than the 50p final sell price, when the share was also a lot lower than it is now. We'll know within a few days.|
|topvest: Yes, this is looking very attractive for further upward movement with the re-rating of banks as interest rates go up. 7 months to go. Double discount. 12p versus 15p - then the ordinary shares are on a 10p discount to the 140p NAV. If the share price continues to climb and the discount goes to a premium then we are going to get some explosive movement here. Fingers crossed! So, at the moment they are on a 50% discount to Net Asset Value. Bought mine at 5p and they have been down to about 2p before the sharp upward moves of late. Certainly not a low risk investment, but on balance will stick with it until at least 15p.|
|kenmitch: Posted this on "the warrant thread" and also PCFT bb just now in case anyone here is interested.
Posted here (post 3919) on Dec 8th with PCFS AT 8.75p to buy when share was 123.75p to sell.
Set 130p share price target which would mean PCFS worth 15p.
Share almost got there today, but despite several buys, PCFS is now at a discount and only 12p to buy and 11.25p to sell.
NAV has been rising steadily and was up another 2p today to 140p and 137 if allowing for the now strong likelihood of all the subs being exercised.
Bank share rally is continuing.
Target another 10p on the share price in the next couple of months to 140p and PCFS would be worth 25p. Assuming the PCFS price goes to a bigger discount and so "only" 20p, that still gives nearly 70% upside on 7% share price rise.
Hope a few bought earlier but if not high chance it is still not too late to buy, especially bearing in mind PCFS is 3p below what it is actually worth."|
Polar Capital share price data is direct from the London Stock Exchange