Prospect EP. Share Discussion Threads

[joan of arc] 01/5/2008 19:04

It was Nick Greenwood's recommendation in Money Week. Remember him - he was clearly not remembering to give the full story.

[wolstencroft] 01/5/2008 15:28

An announcement was made that they would raise funds at NAV. NAV was published. Anyone can work out the discount/premium to NAV. So what is the surprise?

Stuart14: The fund invests in REITs. The average discount on the REITs they invest in is about 40%. The fund over the past few months has traded around NAV (being the market value of the funds holdings not the value of the funds holdings' assets) until the money week write up.

[stuart14] 01/5/2008 14:33

They don't often get it that wrong. Still would think this is a good buy, but buying in on Monday after it had rising 6-10% wasn't a good move. I'd only buy a REIT at or below NAV, may well get a chance here soon.

[isa23] 01/5/2008 14:30

I hope those subscribing to shares at NAV tomorrow will be in a lock-up period, otherwise they can sell in the market for a healthy profit at the expense of existing holders (assuming of course share price remains at current level tomorrow)

[stuart14] 01/5/2008 13:30

For some reason I thought this was trading at a discount to NAV

[isa23] 01/5/2008 12:37

So new shares will be issued at 44.31 tomorrow!! Almost 21% below todays' offer price! Hugely dilutive to existing shareholders, but then that's the NAV. Seems Japanese investors are less bullish about their REITS than us UK shareholders!!!

[joan of arc] 29/4/2008 14:29

Thanks ISA. Looks like I missed the divi this time but at least the share has been going up for me.

[isa23] 29/4/2008 13:20

found the relavant section on divi. It was announced on 17/03/08
Dividend

At the time of the Company's interim results in October 2007, the Directors paid
an interim dividend in respect of the period ended 30 June 2007 of 3 pence per
share. In the absence of unforeseen circumstances, it is the Directors
intention to declare a final dividend of 3.5 pence per share on the date of
announcement of the Company's results for the period ended 31 December 2007,
which is expected to be late March 2008. The record date for the intended final
dividend is 28 March 2008 and it is expected to be paid in late April 2008.

[scrod] 28/4/2008 13:40

I would think so. The intention of the Trust is to pay a good income.
The underlying assets are seriously undervalued.

[stuart14] 28/4/2008 12:31

So the next interim will be June 2008 paid in Oct?

[isa23] 28/4/2008 12:29

Dividend

At the time of the Company's interim results in October 2007, the Directors paid
an interim dividend in respect of the period ended 30 June 2007 of 3 pence per
share. In the absence of unforeseen circumstances, it is the Directors
intention to declare a final dividend of 3.5 pence per share on the date of
announcement of the Company's results for the period ended 31 December 2007,
which is expected to be late March 2008. The record date for the intended final
dividend is 28 March 2008 and it is expected to be paid in late April 2008.

[isa23] 28/4/2008 12:13

The share is already Ex div. It went ex-divi quite a while ago (mid or late March I guess). It was all announced by the company.

[stuart14] 28/4/2008 11:18

I'd assume so. They'll have to get it cleared at the AGM.

Thanks Scrod. I guess the 7p is planned for next year then.

[joan of arc] 28/4/2008 11:13

So will the XD date be announced at the AGM or what? No one any idea?

[scrod] 28/4/2008 10:31

The interim dividend was 3p, making 6.5p for the year.

[scrod] 28/4/2008 10:30

The information is free.
If you don't take advantage of the free information it will cost you (especially if you're buying these shares for the dividend).

[stuart14] 28/4/2008 10:28

The target dividend yield is seven percent and the target
IRR is in excess of twenty per cent per annum.



Dividend of 3.5 pence per share to be paid subsequent to approval at the Annual
General Meeting to be held on 2nd May 2008).

I'd assume this is a half-yearly dividend. Moneyweek said the Div was 7p

[stuart14] 28/4/2008 10:23

scrod, lol! Yep!! Looks like we'll have to though with the lack of answers!

[scrod] 28/4/2008 10:22

In view of all the questions, I'm suspecting that no one can be bothered to read the RNSs and reports.

[stuart14] 28/4/2008 09:50

Can anyone confirm the Dividend amount?

[pip_uk] 28/4/2008 08:57

Some nice positive moves this morning.
I understand that the Japanese inflation rate has advanced to I think about 1.5% which the experts say is very positive, and moves the economy away from the persistent deflation fears.
Will also be good for Japanese property prices, and of course this share.
Bought a stake this morning and hoping for a rewarding ride.
Regards.

[stuart14] 28/4/2008 07:15

Is the moneyweek article right? 14% Div? Nice.

[joan of arc] 27/4/2008 12:18

When do/did these go XD?