|Stocks Convertible Trust
||EPS - Basic
||Market Cap (m)
Stocks Convertible Trust Share Discussion Threads
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|thanks rambutan2, I'm getting questions from Linhur I cant answer any help greatly appreciated.|
|hi praipus, will see you over there then.|
|Hi rambutan2, I've started at ECIT thread
changed name and new broader investment remit, now called eclectic (ECIT) with fund raising t/c...
|slightly underwhelming interims out today. as always with this trust, a lack of details. however, found this (halfway through a bigger piece) on the big court case mentioned...
But others have not been so fortunate.
In 1998, a group of sophisticated investors paid $80 million for notes convertible into shares in a company listed on the Australian Stock Exchange called New Cap Reinsurance. Two months later, New Cap collapsed and they lost the lot.
The investors are trying to recover their money in a NSW Supreme Court action, which will be heard in August.
The liquidator, John Gibbons from accounting firm Ernst & Young, has alleged that there was a "dishonest and fraudulent design" to falsify the accounts included in the prospectus for the notes.
The culprit was a contract which New Cap bought from General Re.
Gibbons has settled a civil case against General Re on confidential terms.
In a judgement last year, Justice Peter Young said Gibbons alleged that there were two "legs" to the contract, but only one was disclosed in the accounts.
The balance sheet "included as an asset the monies that would flow through to the company under Leg One whilst [under Leg Two] there were repayment offsets which were certain to arise which would eliminate it."
Gibbons claimed that if the true position had been described in the accounts, New Cap would have been unable to write new business and would "inevitably" have gone into an orderly wind-down before the new capital was raised.
|Indeed , I have become quite interested in several that seem to be able to weather the storm , RIIC, RCP , BTEM , Personal assets , RICA ... I am just waiting for the opportunity.|
|Wise words rambutan.|
|this one has been down to skill and also macro trends - oz has been a great mkt and currency to be in for the last few years - and also the discount coming in from the teens.
the beauty of investment trusts is that most of them have their own unique characteristics and the more you learn about them the more you will be able to benefit.|
|This is an IT that took my eye as its 5 year performance seemed to be pretty good , showing a deal of strength during the post 2000 market weakness. However these trusts are small and seem to have aweful spreads.
I had wondered if some of these small trusts have such a steady shareholder following that when markets are weak they are simply not sold unlike some of the very liquid shares or is it just great skill ?|
|Hi rambutan2 fancy finding you here you may also like to look up gpg http://www.gpgplc.com when your next researching. regards P|
|is essentially an investment vehicle of top manager (and more) duncan saville/ingot capital. its been a good performer over recent times.
its got 46% (yes 46%) of port in this co...
In accordance with Listing Rule 21.20 (l)(ii), Stocks Convertible Trust PLC announces that at 30 November 2004 the ten largest investments were as follows:
Company Market Value (#) Percentage of portfolio
Trust Company of Australia 10,840,194 46.06
ERG Ltd Ordinary NPV 2,954,024 12.55
The Taverners Trust plc Ordinary 25p 1,584,188 6.73
PD Ports Plc 6% Convertible 2009 1,515,000 6.44
Global Equity Market Securities 0% 18/01/2008 1,125,457 4.78
Utilico IT 3.75% CULS 30/11/2009 965,120 4.10
Invesco Inc Trust 4.75% CULS 01/10/2009 851,250 3.62
e-Bet Ltd 10% Red Conv Notes 29/11/2006 726,985 3.09
e-Bet Ltd Ordinary NPV 604,789 2.57
Real Estate Opportunities 7.5% CULS 465,750 1.98
Total 21,632,757 91.91
There were no additional investments with a value greater than 5% of the Company's portfolio.
The Company further announces that as at 30 November 2005 its ten largest
investments were as follows:
Company Market Value (£) Percentage of gross
Trust Company of Australia 13,129,920 50.79
Global Equity Market Securities 0% 18/01/2008 2,828,126 10.94
Law Debenture Corp plc Ord 25p 1,977,350 7.65
ERG Limited Ordinary NPV 1,197,250 4.63
Utilico IT 3.75% CULS 30/11/2009 1,117,800 4.32
PD Ports plc 6% Convertible 30/06/2009 1,072,500 4.15
Invesco Inc Trust 4.75% CULS 01/10/2009 993,125 3.84
e-Bet Ltd 10% Red Conv Notes 29/11/2006 893,965 3.46
Intellect Holdings Ltd 4% Conv Notes 855,469 3.31
Intellect Holdings Deferred NPV 689,850 2.67
Total 24,755,355 95.76|
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