|Tapestry Investment Company Pcc
||RED PTG PREF SHS NPV
||EPS - Basic
||Market Cap (m)
|Equity Investment Instruments
Tapestry Investment Share Discussion Threads
Showing 26 to 50 of 50 messages
|And another payment through:)|
|Another payment through.|
|Shares finally no longer showing in nominee account, now the brave wait for liquidation proceeds. Anyone else in the same situation?|
|Last NAV £1.13, shares now cancelled.|
|Hi Skyship thank you for your contributions over time always useful and interesting.
For the record why should this share do any worse than any other investment?
Also with the NAV being £1.12 why sell at a 20% discount?|
|Only had a very small holding; decided to take the 86p now rather than the 50p soonish and the balance of 50p-55p sometime in an uncertain future! Perhaps wrong, but I've been selling quite a few things too early recently...|
|Not showing on the ADVFN news flow for some unknown reason, circular re proposed voluntary liquidation of the Company
|From the NAV statement:
As at the close of business on 31st December 2010 the final Net Asset Value per
|112p and some. Also the share price has "tic"ed up a fraction, now 80p Bid
Tapestry - NAV Estimate
As at the close of business on 7th January 2011 the Company's estimated Net Asset Value per Share was 112.9682|
|NAV up £1.12.|
|22% discount now!|
|TIC cash arrived via Selftrade.|
|Anyone got their cash yet?|
|Skyship thank you for your analysis.|
|That £2m-£3m repayment in Feb'11 will be conducted in the same way as this week's redemption. So, let's for instance postulate:
# A 2.5m share repayment @ an NAV of 107p
# Repayment = a 22.1% redemption
# Cost = £2.675m
# If you buy 10,000 today @ 84p:- cost = £8410 (no stamp duty)
# You receive 2210 x 107p, ie £2365
# You are left with 7790 shares costing net £6045, ie 77.6p
# Continuing NAV = 107p....
So, you are left in with 78% of yr holding in a delisted rump running at a 27.5% discount.
Question is - Is that VALUE?
If I'm reading this right - then my answer is YES.
Views on the back of an envelope.....|
|11,300,830 from todays RNS
Because of the way they've returned capital the NAV per share remains £1.08 ish.|
|Hi so right away the un hedged currency risk and the illiquid holdings may prove hard to sell, particulary if current market turbulence continues through 2011.
They say: At the end of February 2011 the remaining assets of the Company are expected to be less than �GBP10m and receipt of cash thereafter from the realisations of the remaining portfolio is expected to slow down
To work out return, how many shares are now left?
Also they also say: The Company also expects to be in a position to return a further GBP 2-3m to shareholders in February 2011, following the anticipated receipt of cash from further redemptions early in the New Year.
Now is that 2-3M included in what they expect to be left end of February, or is it seperate and in addition to?|
|Cash 7-10 days from redemption date which was yesterday.|
|I appreciate the unhedged currency risk, but of course the US$ has been strengthening recently. Up c.3% v. GBP over the past month.|
|So we should have had the cash yesterday? (should we)|
|I'm confused too to some extent.
Re-reading the announcement I think its just the ISIN number thats changing perhaps due to the way the capital is being returned and restructured.
(Edit: ok withdrawn from crest not related to ISIN change)
£1.08+per share, 43 redeemed for every 100 shares held.
Edit: I agree does look cheap.
Also cant see when we get paid.|
|Praipus. Help pls.....
The way I read this 43% of the equity was redeemed on Monday @ 108.48p (the historic NAV). This leaves 11.299m shares o/s and trading @ 78p-84p versus an NAV of c.106.5p. The NAV now various US holdings, but no longer a tranche of CASH.
Still, they are in the course of effective liquidation which over time will deliver what looks like something North of 100p.
On that basis the 86p-90p of earlier this week may have looked up with events; but the offer @ c.83p/84p now looks rather good value IMO. Incidentally, I'm aware of the imminent loss of the quote - but have cleared that with my SIPP provider.
Any views, clarification etc?|
|the Company today announces that it will
return �GBP9,247,146 (equivalent to approximately 46.65p per Share) to holders of
Shares on 30 November 2010 (the "Redemption Date") by way of a compulsory
partial redemption of Shares (the "Redemption").|
|Tapestry - NAV Estimate
As at the close of business on 5th November 2010 the Company's estimated Net
Asset Value per Share was 106.4910|
|NAV now £1.08+|