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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Principle Cap. | PCX | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
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|---|---|---|---|---|
| 0.00 | 0.00% | 15.50 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 15.50 |
| Top Posts |
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Posted at 21/12/2009 16:03 by chrisdgb We like that announcement, QVT activist investor themselves on board for more than 10% of company, going higher...... |
Posted at 14/12/2009 13:49 by mike_f D1 Oils shareholder Principle Capital will refuse to support any plans to raise further equity capital until the company stops 'fruitless spending'.Principle says its funds have incurred substantial losses on their 18m investment in the biodiesel company. With 27.55% of the issued share capital, it says it has the ability to block all special resolutions of the company and intends to do so until the board agress to discuss its requests. These are that D1 ceases all but essential cash expenditure immediately and begins talks for the acquisition of Principle Energy Limited and an associated fundraising. Principle is resolved 'to fulfil its duties to its underlying investors by ensuring that what it considers to be fruitless expenditure is halted'. Story provided by Business Financial Newswire |
Posted at 07/10/2009 13:41 by jab118 looks like a few of shrewd investors are realising over the last few days, that this is a bargain despite the spread.:@) |
Posted at 10/6/2009 00:32 by unglove From Times Online March 13, 2009...."The three rebel funds first emerged with their break-up plan at the end of January. They called on shareholders to dismiss Principle Capital, Mr Myerson's fund manager, and dump the four directors. They plan to appoint a new manager, Crystal Amber, which will charge a fee of 3 per cent of the value of the assets recovered from any sale. The directors of PCIT said today that, if investors backed their proposal at a subsequent vote, they would return not less than £15 million in cash." DYOR |
Posted at 04/4/2009 10:34 by masurenguy Hmm..........looks like the 'experts', Nick Greenwood and Andrew McHattie, did not make a good call here - the share price has dropped almost 90%, from 169p to 17.5p since my last post on August 23rd. .................... Citywire Financial Publishers Limited. Fri 27 Mar 2009 Myerson's woes mount as Principle Capital faces liquidation Shareholders in Principle Capital Investment trust have voted by an overwhelming margin to eject directors which include activist investor Brian Myerson. Myerson, along with Alan Clifton, Brian Padgett and James Roe, have been replaced by John Chapman Patrick McCann, who have a brief to start winding up the £48.6 million trust and return capital to investors. He has now called a second extraordinary meeting of shareholders on 16 April in an attempt to rescind the decision. Investment management has been passed to Crystal Amber Asset Management in a two year deal with management fees structured as 3% of capital realised and returned. Myerson is one of the UK's leading activist investors. The South African has targetted a number of UK firms over the years including, jeweller Signet and glassmaker Pilkington. Last year the South African teamed up with hedge fund manager Cycladic Capital to force the exit of the chief executive and chairman at Photo-Me International. The winding up the trust adds to the mounting lists of problems at Principle. Earlier this month he told the courts he could no longer pay the £9.5 million due to his ex wife followng their divorce in 2008 because the value of his estate had been wiped out in the recession. Performance of the trust, which launched in October 2005, has been a long-term concern which has come to a head in the market downturn. It is down 52.7% over three years versus a peer average of -27.3%. In the last 12 months it has lost -35.2% over the last year against a peer group average of -24.4% and is trading at a -31.4% discount. Shareholders voted 56,362,418 to 38,130,951 to remove the previous managers and by 71,077,432 to 23,415,937 to begin the process of winding up the company. While not subject to a public vote, Wilfrid Caldwell has also stepped down as a director. |
Posted at 28/5/2005 13:13 by rambutan2 First day of trading on AIMPrinciple Capital Holdings S.A. ('PCH' or 'the Company') today announces the first day of dealings of its ordinary shares on AIM (ticker PCX). Numis Securities Limited ('Numis') is acting as both nominated adviser and broker. KEY STATISTICS Placing price 200p Shares in issue after the Retail Stores Acquisition 2,749,806 Number of ordinary shares placed 6,250,000 Total proceeds from the Placing (before expenses) £12.5 million Number of ordinary shares in issue immediately following Admission 8,999,806 Market capitalisation of PCH on Admission at the Placing Price £18 million KEY INFORMATION * PCH is a newly-incorporated Luxembourg holding company of a fund management and investment group established to raise and manage funds for activist investment in the UK and Continental Europe * The chief executive officer of the Company is Brian Myerson, joint founder of Active Value Advisors Limited. * The track record of Brian Myerson, principally through Active Value Advisors but also (prior to the establishment of Active Value Advisors) on an individual basis and/or through Euro Suisse, shows a gross annual IRR on realised investments (excluding human capital investments) of approximately 22 per cent. over the last 15 years. Brian Myerson, CEO of PCH, comments: 'We have been pleased by the support from leading institutional investors for our share placing. We believe that it demonstrates that activist investment has 'come of age' and is now regarded as a valid method of unlocking the value within under-performing companies. We believe that the flotation will enable us to demonstrate the superior returns which our methodology can deliver.' ukwire: investment trust: SA property fund: retail stores rns: quote etc: their retail site: mwb rns: quote etc: |
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