Premium Trust Share Discussion Threads

[praipus] 21/3/2006 16:45

Net Asset Value(s)

Martin Currie Investment Management Limited, as company secretary, announces the unaudited net asset values (on the
AITC
basis) of the company as at the close of business on 20 March 2006

With debt valued at par: 21.24p per capital share
(going concern basis): 47.98p per income share (excluding undistributed revenue reserve)
98.26p per zero dividend preference share
_________
167.48p per shares (unit)
3.29p undistributed revenue reserve
_________
170.77p per shares (company)


With debt valued at market: 20.95p per capital share
(going concern basis): 47.98p per income share (excluding undistributed revenue reserve)
98.26p per zero dividend preference share
_________
167.19p per shares (unit)
3.29p undistributed revenue reserve
_________
170.48p per shares (company)

[praipus] 24/2/2006 21:33

This is going well anyone watching?

[praipus] 21/2/2006 09:26

Net Asset Value(s)

Martin Currie Investment Management Limited, as company secretary, announces the unaudited net asset values (with
investments valued at bid-price, and excluding current period revenue) of the company as at the close of business on 17
February 2006

With debt valued at par: 18.57p per capital share
(going concern basis): 48.01p per income share (excluding undistributed revenue reserve)
97.55p per zero dividend preference share
_________
164.13p per shares (unit)
3.29p undistributed revenue reserve
_________
167.42p per shares (company)


With debt valued at market: 18.22p per capital share
(going concern basis): 48.01p per income share (excluding undistributed revenue reserve)
97.55p per zero dividend preference share
_________
163.78p per shares (unit)
3.29p undistributed revenue reserve
_________
167.07p per shares (company)

[praipus] 10/2/2006 16:18

Net Asset Value(s)

Martin Currie Investment Management Limited, as company secretary, announces the unaudited net asset values (with
investments valued at bid-price, and excluding current period revenue) of the company as at the close of business on 09
February 2006

With debt valued at par: 17.03p per capital share
(going concern basis): 48.02p per income share (excluding undistributed revenue reserve)
97.37p per zero dividend preference share
_________
162.42p per shares (unit)
3.29p undistributed revenue reserve
_________
165.71p per shares (company)


With debt valued at market: 16.69p per capital share
(going concern basis): 48.02p per income share (excluding undistributed revenue reserve)
97.37p per zero dividend preference share
_________
162.08p per shares (unit)
3.29p undistributed revenue reserve
_________
165.37p per shares (company)

[praipus] 07/2/2006 16:19

Major shareholder slimming down......wonder if the company will buy to cancel or another institution will take a liking. Allways worried when bigger investors are leaving the scene though not always bad news.

Holding(s) in Company

NOTIFICATION OF MAJOR INTERESTS IN SHARES


All relevant boxes should be completed in block capital letters.

1. Name of listed company 2. Name of shareholder with a
major interest


PREMIUM TRUST PLC RENSBURG SHEPPARDS PLC


3. Please state whether notification 4. Name of the registered
indicates that it is regarding the holder(s) and, if more than
holding of the shareholder named in 2 one holder, the number of
above; in respect of a non-beneficial shares held by each of them
interest; or in respect of An
individual holder if it is a holding of
that persons spouse or children under
the age of 18.


AS IN 2. AS IN 2.



5. Number of 6. Percentage of 7. Number of 8. Percentage of
shares/amount issued class (any shares/amount of issued class
of stock treasury shares stock disposed (any treasury
acquired held by the shares held by
listed company the listed
should not be company should
taken into not be taken into
account when NOT DISCLOSED account when
NOT DISCLOSED calculating calculating
percentage) percentage)


NOT DISCLOSED NOT DISCLOSED

9. Class of security 10. Date of 11. Date listed
transaction company informed

CAPITAL SHARES 5p 6 FEBRUARY 2006
NOT DISCLOSED

12. Total holding following 13. Total percentage holding of issued
this notification class following this notification
(any treasury shares held by the listed
company should not be taken into account
2,963,620 when calculating percentage)

14.97%


14. Any additional 15. Name of contact and telephone
information number for queries

FOLLOWING RECENT DISPOSALS,
RENSBURG SHEPPARDS PLC HAS JAN WILSON 0131 479 4774
A CONSOLIDATED HOLDING ON
BEHALF OF NOMINEE AND
DISCRETIONARY NON-NOMINEE
CLIENTS OF 2,963,620
CAPITAL SHARES




16. Name and signature of duly authorised officer of the listed company
responsible for making this notification


MARTIN CURRIE INVESTMENT MANAGEMENT LIMITED


Date of notification 7 FEBRUARY 2006

[praipus] 07/2/2006 16:07

Net Asset Value(s)

Martin Currie Investment Management Limited, as company secretary, announces the unaudited net asset values (with
investments valued at bid-price, and excluding current period revenue) of the company as at the close of business on 06
February 2006

With debt valued at par: 15.73p per capital share
(going concern basis): 48.02p per income share (excluding undistributed revenue reserve)
97.30p per zero dividend preference share
_________
161.05p per shares (unit)
3.29p undistributed revenue reserve
_________
164.34p per shares (company)


With debt valued at market: 15.39p per capital share
(going concern basis): 48.02p per income share (excluding undistributed revenue reserve)
97.30p per zero dividend preference share
_________
160.71p per shares (unit)
3.29p undistributed revenue reserve
_________
164.00p per shares (company)

[praipus] 01/2/2006 15:35

Net Asset Value(s)

Martin Currie Investment Management Limited, as company secretary, announces the unaudited net asset values (with
investments valued at bid-price, and excluding current period revenue) of the company as at the close of business on 31
January 2006

With debt valued at par: 14.55p per capital share
(going concern basis): 48.03p per income share (excluding undistributed revenue reserve)
97.17p per zero dividend preference share
_________
159.75p per shares (unit)
3.29p undistributed revenue reserve
_________
163.04p per shares (company)


With debt valued at market: 14.21p per capital share
(going concern basis): 48.03p per income share (excluding undistributed revenue reserve)
97.17p per zero dividend preference share
_________
159.41p per shares (unit)
3.29p undistributed revenue reserve
_________
162.70p per shares (company)

[praipus] 30/1/2006 15:14

Net Asset Value(s)

Martin Currie Investment Management Limited, as company secretary, announces the unaudited net asset values (with
investments valued at bid-price, and excluding current period revenue) of the company as at the close of business on 27
January 2006

With debt valued at par: 15.23p per capital share
(going concern basis): 48.03p per income share (excluding undistributed revenue reserve)
97.08p per zero dividend preference share
_________
160.34p per shares (unit)
3.29p undistributed revenue reserve
_________
163.63p per shares (company)


With debt valued at market: 14.89p per capital share
(going concern basis): 48.03p per income share (excluding undistributed revenue reserve)
97.08p per zero dividend preference share
_________
160.00p per shares (unit)
3.29p undistributed revenue reserve
_________
163.29p per shares (company)

[leading] 27/1/2006 16:07

Well there we are. A boring old Investment Trust, up 25% in one day.

[praipus] 27/1/2006 14:46

Your vindication....

Net Asset Value(s)

Martin Currie Investment Management Limited, as company secretary, announces the unaudited net asset values (with
investments valued at bid-price, and excluding current period revenue) of the company as at the close of business on 26
January 2006

With debt valued at par: 13.49p per capital share
(going concern basis): 48.03p per income share (excluding undistributed revenue reserve)
97.05p per zero dividend preference share
_________
158.57p per shares (unit)
3.29p undistributed revenue reserve
_________
161.86p per shares (company)


With debt valued at market: 13.16p per capital share
(going concern basis): 48.03p per income share (excluding undistributed revenue reserve)
97.05p per zero dividend preference share
_________
158.24p per shares (unit)
3.29p undistributed revenue reserve
_________
161.53p per shares (company)

[leading] 27/1/2006 14:20

Ha! Well I talked myself into buying a few more of these.

I have done well from Income Shares in various Trusts over the past couple of years e.g. COGI, but I am not sure if there are any compelling ones around at the moment. If you get the timing right you buy these on high yields and with capital appreciation too.

On a different theme, have a look at DNIZ. These wind up 31/05/07 with a maximum value of 174.47p currently NAV 114p and offer price 101p. The zeroes are well out of the money, so they are getting the full benefit of any increase in the trust's value.

Basically all of these things are heavily geared to a rising market. Do you feel lucky?

[praipus] 27/1/2006 12:09

Are you a salesman? If not you should be.

Are you recommending any other undervalued investments you would care to share with the BB?

[leading] 27/1/2006 10:51

Yes, a discount of 44% based on the offer price, with just eleven months to run. And the market has been solidly up since the 25/1/06 NAV used in these calcs.

And yet the volume of trading is stunningly low. Surely its worth a punt? Yes its risky, so just try a small stake.

Long may investment trusts remain unfashionable, because they do throw up some stunning opportunities.

[praipus] 27/1/2006 10:16

NAV over 13p and share price at a 47% discount according to splitsonline.

[praipus] 26/1/2006 18:01

Undiluted NAV (SP at 43% discount) back up over 12p according to splitsonline perhaps the bull's flag remains intact....

[praipus] 20/1/2006 10:56

Offer at 8p ....the graphs says bull flag forming.

[praipus] 18/1/2006 16:50

Cant see anything wrong with your calcs ....depressing and explain the discount perhaps....it is always wise to be more cautious than optimistic is such circumstances.

The only thing I'm not certain of is the likelyhood of a roll over option and its impact.

Interesting that the only IT's I have been involved with to date have had much larger market caps and the interest and management charges have not been an issue at rollover or windup......note to diary do not buy low market cap split caps in future.

That said my holding here is less than .25% of the total portfolio so I'm not intending or feeling any need to sell even if the FTSE dives and these wipe out....i'll put it down to experience. At 40% discount and linked to one of the strongest economies in the world I think PTTC has a better than 50-50 chance of making a 20% gain before windup IMHO.

[glynnef] 18/1/2006 16:05

Let me know if you disagree with my calcs but:

from today's NAV statement, total NAV = £31.07M.

At 31st Dec 06, the zeros will get £20.8M and the incs get £9.44M. If the NAV stays unchanged to windup, this leaves £830K for the caps.
But it gets worse. The management fee for the year will increase from last year, but last year was £235K allocated 60% to capital = £141K. The interest payable on the bank loan last year was £421K allocated 60% to capital = £253K. So the £830K shrinks to £436K between 19.8M PTTC shares = 2.2p per share. So if the capital value of the portfolio remains unchanged, the PTTC shares are worth 2.2p each.

But of course if they can grow total assets by, say, 5% you are looking at another 10p a share ! The NAV will be down tomorrow. I sold my PTTC today at a small profit and will seek something more certain.
regards,
GF.

[praipus] 18/1/2006 09:20

Amazed it hasnt been marked down a bit more. Ownership of this share is going to be fun......

[glynnef] 17/1/2006 19:51

virtually no trading in this share for the last few days. NAV up today, but will be back down tomorrow as the FTSE 100 oscillates day to day.
Could go either way, but should rise if the NAV stays above 12p.
GF.

[praipus] 12/1/2006 15:25

Company Premium Trust PLC
TIDM PTTI
Headline Net Asset Value(s)
Released 15:01 12-Jan-06
Number 2149



Martin Currie Investment Management Limited, as company secretary, announces the unaudited net asset values (with
investments valued at bid-price, and excluding current period revenue) of the company as at the close of business on 11
January 2006

With debt valued at par: 12.88p per capital share
(going concern basis): 48.05p per income share (excluding undistributed revenue reserve)
96.71p per zero dividend preference share
_________
157.64p per shares (unit)
3.29p undistributed revenue reserve
_________
160.93p per shares (company)


With debt valued at market: 12.55p per capital share
(going concern basis): 48.05p per income share (excluding undistributed revenue reserve)
96.71p per zero dividend preference share
_________
157.31p per shares (unit)
3.29p undistributed revenue reserve
_________
160.60p per shares (company)

[glynnef] 11/1/2006 23:44

Nice rise today despite the NAV dropping off a bit and only 1 trade reported as a 200K share sell. NAV will be up again tomorrow.

I also hold the income shares - PTTI - which still look attractive. As I see it, they will get the 47.7p on redemption plus about 5p in divis (1st interim of 1.25p for the year ended 31/8/06 went ex-div on 6th Jan) plus the undistributed revenue reserve of 3.29p = 55p by the end of 2006.

Anyone disagree ?

regards,
GF.

[praipus] 11/1/2006 17:05

Net Asset Value(s)

Martin Currie Investment Management Limited, as company secretary, announces the unaudited net asset values (with
investments valued at bid-price, and excluding current period revenue) of the company as at the close of business on 10
January 2006

With debt valued at par: 11.64p per capital share
(going concern basis): 48.05p per income share (excluding undistributed revenue reserve)
96.69p per zero dividend preference share
_________
156.38p per shares (unit)
3.29p undistributed revenue reserve
_________
159.67p per shares (company)


With debt valued at market: 11.30p per capital share
(going concern basis): 48.05p per income share (excluding undistributed revenue reserve)
96.69p per zero dividend preference share
_________
156.04p per shares (unit)
3.29p undistributed revenue reserve
_________
159.33p per shares (company)

[praipus] 10/1/2006 15:54

Net Asset Value(s)

Martin Currie Investment Management Limited, as company secretary, announces the unaudited net asset values (with
investments valued at bid-price, and excluding current period revenue) of the company as at the close of business on 09
January 2006

With debt valued at par: 12.64p per capital share
(going concern basis): 48.05p per income share (excluding undistributed revenue reserve)
96.67p per zero dividend preference share
_________
157.36p per shares (unit)
3.29p undistributed revenue reserve
_________
160.65p per shares (company)


With debt valued at market: 12.30p per capital share
(going concern basis): 48.05p per income share (excluding undistributed revenue reserve)
96.67p per zero dividend preference share
_________
157.02p per shares (unit)
3.29p undistributed revenue reserve
_________
160.31p per shares (company)

[praipus] 10/1/2006 14:33

Have traded options before but not index options and not a happy experience. Not unlike the Marconi debacle. That said I have been considering buying out of the money FTSE Index PUTS...or having a short CFD set up....all that said experience using Barclays and iii's CFD simulator taught me that I'm not an Index trader.

Have only committed funds I'm prepared to loose in their entirety. Plan is to hold till maturity adding as appropriate (i.e. while the discount is above 20%). On wind up shareholders usually get the opportuniy to take cash equivalent to NAV or roll into a new vehicle so will make a decision subject to terms and prevailing market.

Impressed that the market has been off 40 points and the share price has remained firm!