Premium Trust Share Discussion Threads

[leading] 29/9/2006 09:32

Hello Glynne F

Well I suppose I am an optimist! You make a good point and investing in capital shares with a few months to run is inherently risky. Do not invest money you are not prepared to lose in these.

However, I think the potential rewards outweigh the risks because:
The seasonally weak summer period is behind us.
The market is recovering from the June drop and I think this process will continue.
Looked at on a long term basis, the FTAS P/E ratio has been falling basically since 1999 and is now around 13. This is the lowest since I started tracking it in 1992. I just don't see it getting much cheaper.

Having said all that, there is always the risk of some unexpected shock upsetting the market.

I agree PTTI has been a good investment, but I am not sure that there is enough potential return to make it a worthwhile purchase at this time. By the way, the winding up costs will be borne by the income shares, according to the accounts.

[glynnef] 29/9/2006 05:26

leading,

It is a risky punt on the FTSE100 growing from present levels. The company currently has sufficient assets (£2m) to pay the PTTC shareholders at 10.5p, after paying out PTTZ and PTTI in full, and that ignores any windup costs. A 2.5% fall in the £26M equity portfolio in the next 3 months leaves you with a nasty loss if you buy PTTC today at 10p. But the upside is geared as well.

I hold PTTI. Finals out today suggest a windup payout to PTTI of about 51p, and there is a 1.5p divi at the end of October. These accounts were prepared on a breakup basis. Perhaps the daily NAV statements will also be prepared on this basis for the rest of the year ?

regards,
GF.

[leading] 28/9/2006 16:18

Signs of life here again today.

Offer price of 10p is still a 21% discount to the most recent NAV with just three months to run.

I would love to buy some more, but I am up to my limit on these.

[praipus] 05/7/2006 11:23

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 03 July 2006

With debt valued at par: 12.94p per capital share
(going concern basis): 47.88p per income share (excluding undistributed revenue reserve)
100.70p per zero dividend preference share
_________
161.52p per shares (unit)
3.29p undistributed revenue reserve
_________
164.81p per shares (company)


With debt valued at market: 12.79p per capital share
(going concern basis): 47.88p per income share (excluding undistributed revenue reserve)
100.70p per zero dividend preference share
_________
161.37p per shares (unit)
3.29p undistributed revenue reserve
_________
164.66p per shares (company)

Capital NAV creeping up again.

[praipus] 02/6/2006 15:13

NAV creeping up....

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 01 June 2006

With debt valued at par: 10.77p per capital share
(going concern basis): 47.91p per income share (excluding undistributed revenue reserve)
99.95p per zero dividend preference share
_________
158.63p per shares (unit)
3.29p undistributed revenue reserve
_________
161.92p per shares (company)


With debt valued at market: 10.59p per capital share
(going concern basis): 47.91p per income share (excluding undistributed revenue reserve)
99.95p per zero dividend preference share
_________
158.45p per shares (unit)
3.29p undistributed revenue reserve
_________
161.74p per shares (company)

[praipus] 24/5/2006 14:38

Someone's gone bezerk and bought 520,000 now could be the time to top up...or is it?

[praipus] 23/5/2006 10:15

Sorry seem to have posted the same thing over and over again!...amazing

[praipus] 23/5/2006 10:06

PTTC looking a bit naughty now NAV 4.5p and share price 8p and rising such is life on the roller coaster.

[praipus] 23/5/2006 10:06

PTTC looking a bit naughty now NAV 4.5p and share price 8p and rising such is life on the roller coaster.

[praipus] 23/5/2006 10:06

PTTC looking a bit naughty now NAV 4.5p and share price 8p and rising such is life on the roller coaster.

[praipus] 19/5/2006 09:39

Though difficult to ignore trading instincts I'm gradually adopting the value/safety investor stance which you seem to have mastered thanks for sharing your port.
Regards
Praipus

[glynnef] 18/5/2006 14:40

Praipus,

If I knew that I would be a rich man !!

My portfolio has always been quite conservative, lots being in zeros, ECW, ECWC, and some incs such as BSOI, PTTI where the capital shares have taken the hit so far, but investments in BCV, AMN have fallen quite sharply. AMN announced a great NAV today of about 103p up from 95p yesterday, so I expect they will recover strongly. DYOR!

regards,
GF.

[praipus] 18/5/2006 14:12

You are and should be justifiably pleased with yourself GF, well done. How is the rest of your portfolio bearing under the markets flutcuations?

My purchases range from 6.75p, 10p, 11p, and lately 17.35p so feeling a little unhappy. Though I purposely didnt buy too many less than 3% of the portfolio so am also pleased with myself for not buying too many....which I would have done in my earlier speculating phase.

The question is will the market recover and or challenge its recent highs before the windup date?

[glynnef] 18/5/2006 13:51

PTTC was always a very risky share. Looking ay posts numbered 1 and 18, I changed my mind within a fortnight. Since then, have regretted not staying in, but am now happier with my decision. A share to sell when you are happy with any profit achieved, and not being too greedy.

GF.

[praipus] 18/5/2006 12:14

When I headed this thread "liquidation opportunity" I mean't the trust winding up not the decimation of ones capital....25% premium now!!!!! I'm holding just.

[praipus] 16/5/2006 15:37

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 15 May 2006

With debt valued at par: 14.08p per capital share
(going concern basis): 47.93p per income share (excluding undistributed revenue reserve)
99.56p per zero dividend preference share
_________
161.57p per shares (unit)
3.29p undistributed revenue reserve
_________
164.86p per shares (company)


With debt valued at market: 13.85p per capital share
(going concern basis): 47.93p per income share (excluding undistributed revenue reserve)
99.56p per zero dividend preference share
_________
161.34p per shares (unit)
3.29p undistributed revenue reserve
_________
164.63p per shares (company)
The pain continues...

[praipus] 15/5/2006 14:39

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 12 May 2006

With debt valued at par: 16.91p per capital share
(going concern basis): 47.93p per income share (excluding undistributed revenue reserve)
99.49p per zero dividend preference share
_________
164.33p per shares (unit)
3.29p undistributed revenue reserve
_________
167.62p per shares (company)


With debt valued at market: 16.68p per capital share
(going concern basis): 47.93p per income share (excluding undistributed revenue reserve)
99.49p per zero dividend preference share
_________
164.10p per shares (unit)
3.29p undistributed revenue reserve
_________
167.39p per shares (company)

Oh dear luckily do not have too many so will hold fast till the bitter end.

[praipus] 27/4/2006 12:22

As a reminder

Gearing 935

NRY - 2.5% = -58.86
NRY 0 = -33.95
NRY + 5% = 25.27
NRY +10% = 94.39

So Mr Market could be ruinous or bountiful.

[praipus] 27/4/2006 09:46

What do you see as the risks?

Gearing,
market
prior classes of share

anything I've missed?

The bid hasnt moved much so I sense these are quite tightly held. The last statement said that NAV had been calulated on a wind-up basis so other than "Mr Market" the risks seem quite reasonable.

[leading] 27/4/2006 08:42

NAV 22p, offer price 17.5p, discount 24%, and only 8 months to run. Very tempting again.

DYOR & make sure you understand the risks though.

[praipus] 12/4/2006 17:37

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 11 April 2006

With debt valued at par: 20.39p per capital share
(going concern basis): 47.96p per income share (excluding undistributed revenue reserve)
98.77p per zero dividend preference share
_________
167.12p per shares (unit)
3.29p undistributed revenue reserve
_________
170.41p per shares (company)


With debt valued at market: 20.15p per capital share
(going concern basis): 47.96p per income share (excluding undistributed revenue reserve)
98.77p per zero dividend preference share
_________
166.88p per shares (unit)
3.29p undistributed revenue reserve
_________
170.17p per shares (company)

[praipus] 07/4/2006 16:13

Company Premium Trust PLC
TIDM PTTI
Headline Net Asset Value(s)
Released 15:54 07-Apr-06
Number 2292




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 6 April 2006

With debt valued at par: 22.22p per capital share
(going concern basis): 47.97p per income share (excluding undistributed revenue reserve)
98.65p per zero dividend preference share
_________
168.84p per shares (unit)
3.29p undistributed revenue reserve
_________
172.13p per shares (company)


With debt valued at market: 21.98p per capital share
(going concern basis): 47.97p per income share (excluding undistributed revenue reserve)
98.65p per zero dividend preference share
_________
168.60p per shares (unit)
3.29p undistributed revenue reserve
________
171.89p shares (company)

[praipus] 22/3/2006 15:21

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 21 March 2006

With debt valued at par: 20.85p per capital share
(going concern basis): 47.98p per income share (excluding undistributed revenue reserve)
98.28p per zero dividend preference share
_________
167.11p per shares (unit)
3.29p undistributed revenue reserve
_________
170.40p per shares (company)


With debt valued at market: 20.56p per capital share
(going concern basis): 47.98p per income share (excluding undistributed revenue reserve)
98.28p per zero dividend preference share
_________
166.82p per shares (unit)
3.29p undistributed revenue reserve
_________
170.11p shares (company)

[Abuse team] 21/3/2006 16:48

Post removed by ADVFN