Share Name Share Symbol Market Type Share ISIN Share Description
UIL Limited LSE:UTL London Ordinary Share BMG917071026 ORD 10P (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +1.50p +0.91% 166.00p 162.00p 170.00p 166.00p 165.00p 165.00p 0.00 08:48:57
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 10.5 5.9 6.2 26.6 149.89

UIL Limited Share Discussion Threads

Showing 676 to 699 of 700 messages
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DateSubjectAuthorDiscuss
21/2/2017
10:09
Two half-year reports out today, one for UIL Ltd and the other for UIL Finance Ltd. I have a few pennies in zeroes too, so I have read the boring bit (UIL Finance) too. :) Http://www.investegate.co.uk/uil-finance-ltd/utl/half-year-report/201702210700073514X/ Http://www.investegate.co.uk/uil-limited/utl/half-year-report/201702210700073505X/ The PDFs will appear later on the website. Paper copies will be sent early March. [UIL Finance] In the report for UIL Finance by December 31st 2016, the covers were 2018: 3.09x requiring a fall of between 67.6% (loss starting) and 84.3% (full wipeout) of UIL Ltd gross assets. 2020: 2.22x requiring a fall of between 55.0% (loss starting) and 67.6% (full wipeout) of UIL Ltd gross assets. 2022: 1.66x requiring a fall of between 39.6% (loss starting) and 55.0% (full wipeout) of UIL Ltd gross assets. According to the latest factsheet (January), the cover values were 3.21x, 2.31x and 1.72x. So no sweat here. On the February 2016 factsheet, which stated a share price of 100p (the nadir having been 96p during that month), the cover values (2016, 2018 and 2020 at the time) were 2.81x, 1.78x and 1.51x. So even then, the money was pretty safe. Good news: The UIL Finance Directors do not receive any remuneration. Sure, they do not have much to do apart from asking themselves (as PDMRs of UIL Ltd) about the monies owed by UIL Ltd to UIL Finance Ltd; but still, we tend to moan about the fees... [UIL Ltd] End of December was not the most flattering time for the company to give its half-year report. Mentions are made of the good old days of end of September 2016 when the NAV peaked at 352.50p. Interesting bit from the Chairman's Statement on buybacks: "On 31 October 2016, UIL redeemed all the outstanding 2016 ZDP shares. UIL has continued to sell the remaining 2020 and 2022 ZDP shares it holds in the market. Over the six months UIL bought back 0.4m shares. However, UIL will not buy back any further shares until the Scotiabank bridge facility is repaid." So in other words, the company shall not borrow to do buybacks, which is the sane thing to do in my humble opinion. The hiccups at the end of last year were due to foreign exchange hedges going sour. "The year end position on 30 June 2016 saw a negative derivative position of £13.6m which needed further cash investment on rolling. Over the past 18 months to 31 December 2016, the currency gains of £2.0m were partially offset by the FX hedges. Largely as a result of the FX demands, UIL drew down the Scotiabank bridge facility of £25.0m as cash reserved for the ZDP redemption was utilised to fund the FX hedges." So now we get the explanation of the cliff hedge drop we had in October. If the factsheets were more of the newsletter variety that just "facts", they could have told us earlier. I love when the sister companies "owe" money to UIL Ltd, even though they are run by the same mafia. :) "One of Zeta Resources Limited's ("Zeta") investments, New Zealand Oil and Gas ("NZOG"), disposed of its investment in Kupe for NZ$168m in cash and today is estimated to have over NZ$220m in cash, thus enabling it to return significant cash to shareholders, including to Zeta. As a result, UIL is anticipating that Zeta will repay its loans in full before 30 June 2017." [Gearing/Debt/ZDPs] As discussed before by Morton, they seem to apply one method for the factsheets and another one for the reports. The December 2016 factsheet says 88.2%. This half-year report says that over six months the gearing went down from 157.7% (82.7% on the June factsheet) to 103.5%. Their aim is 100%. The factsheets use "the AIC definition (based on net assets)" By the end of June, the ZDP debt should be fully issued, i.e. no more holding the IOUs as a loan to oneself basis. "The average yield to maturity on the placings were 4.0% for the 2020 ZDP shares and 5.1% for the 2022 ZDP shares. UIL expects to place the remaining 2020 and 2022 ZDP shares held before its current year end." Potential good news for the discount if £25m get repaid before June 2017 (year end). "UIL drew down the Scotiabank bridging facility of £25.0m to fund the 2016 ZDP redemption. UIL expects to repay the facility in full before its financial year end." Fees are up (since the end of the voluntary reduction) but % cost down. "The ongoing charges figure, excluding performance fees, reduced to 2.0% from 2.6%, mainly as a result of the average increase in shareholders' funds." No small prints at the end of the report, so no snarky remarks about shell companies this time. :)
vacendak
20/2/2017
10:18
@Morton Thanks. One learns every day. :) I should have read those boxes refering to "sections 608(1)(b) and (c) of the Corporations Act". I have noticed that if one uses Google/Bing on the following "Level 1, Lot 7, Block F, Saguking Commercial Building, Labuan, Malaysia", which is the address of GPLPF, they get links to a various "notice of substantial holder" and other RNS like documents involving the UIL Ltd family. This one is the reverse of that mentioned by Zeta, from the Bligh Resources side: Http://www.aspecthuntley.com.au/asxdata/20170201/pdf/01824637.pdf Note that Zeta now has 6.58% of it, so we are not yet talking absolute control. Fun news: That address is linked to the so called "Panama Papers" from last year. They turned out to be a damp squid and not exactly Watergate for David Cameron and his dad. Odd though that GPLPF shares the same P.O. box. Https://offshoreleaks.icij.org/nodes/14048472 There is of course a disclaimer on the right handside, saying that not everything is dodgy. A bit odd though that GPLPF shares the same P.O. box. [edit] UTL doing well today +3.5p so far via at least four upticks.
vacendak
20/2/2017
09:55
@Vacendak All the Australian updates about Utilico will mention GPLF as a holder as they control Utilico rather than it being that they own shares independently. LSE does not seem to have that requirement for RNS. So in the Bligh link you posted, Zeta own the shares and everyone else (ICM, UIL, GPLF) mentioned simply as they control Zeta. Mining shares in Australia up significantly in last month and Zeta price should reflect this but as its so illiquid does not seem to have crept up at same rate. RSG keeps climbing as well, up another 10% on last weeks price so UIL NAV should continue rising this week regardless of Zeta. An unusual small miner is ASX listed GME in that ICM have a very large shareholding (154 million shares approx) independent of Pan/Zeta (38 million shares between them). Http://clients3.weblink.com.au/pdf/GME/01763820.pdf Nice for all involved that the shareprice has increased 3 fold in last month.
morton2011
20/2/2017
09:48
Great work as ever vac much appreciated
mad foetus
16/2/2017
09:00
@rambuttan Good catch. To be filed under "FinTech" I assume. [Somers] Some news, from earlier this month, on Stockdale from the Somers website, which is updated slightly more often than the company trades on the Bermuda Stock Exchange. :) Http://somers.limited/index.php/download_file/view/322/181/ It reads more like an advert for Stockdale than a formal report. Still, this mentions good news, some serious activity, and gives the image of Stockdale gaining market shares and sharing a playground with the likes of Rothschild when it comes to M&A advisory services. Will they try again to float Stockdale this year? With the current expectations for "financials" in 2017 being high (a bit of inflation, higher interest rates, etc.), this could give a positive background for another go for Stockdale on AIM (I think it was AIM). [edit] Back above 300p for the NAV at 302.62p just shy of a 3p improvement, so roughly 1% per week. 46.96% discount as of February 14th, widening slightly from the 46.11% at the penultimate NAV update.
vacendak
16/2/2017
02:23
Spotted: hTTp://techcitynews.com/2017/02/14/software-firm-perfect-channel-gets-2m-from-beringea-and-uil-limited/ htTps://www.pehub.com/2017/02/london-startup-perfect-channel-grabs-2-mln-pounds/# httPS://www.perfectchannel.com/
rambutan2
15/2/2017
15:14
Infratil has published a report recently (February 8th): Https://infratil.com/assets/imported/nzx/Infratil-Market-Update-252520.pdf They acknowledge some mediocre performance of late. Also the report gives a review of the holdings.
vacendak
14/2/2017
11:59
Thanks @v.
spectoacc
14/2/2017
10:39
The factsheet is out: Http://www.uil.limited/files/1314/8699/7767/UIL_Factsheet_January_2017.pdf The debt looks a bit better, still fully drawn at £75M but this time it shows indeed at £75M. Last month it showed at £83.1M, was that an unauthorised overdraft? Gearing down a bit (75.6% instead of 88.2%), mostly thanks to the increase in performance. Most gains due to gold via Resolute directly and indirectly through Zeta. As noted before, it looks like UIL Ltd is trying to exit Augean, likely tired of waiting for improvements. Orbital back in the top-ten, replacing AUG.
vacendak
10/2/2017
09:41
@MF Indeed, just shy of 300p, but we hit 350p back in September 2016, so this is mostly a slow but steady journey back to where it used to be. ICM was quick to drop their voluntary fee-cap when the NAV went above 280p last time (around July August) but never re-instated it when it fell below again. Instead they promised to change the way performance fees were to be evaluated for the benefit of the company... UIL Ltd of course! :) The NAV was for Tuesday, but on the night of Wednesday to Thursday, Zeta jumped by more than 13%. This should help for next week's NAV estimate (assuming ZER stays where it is). Also good behaviour from UEM lately and the old favourite RSG. ZER must have gone up thanks to Panoramic and also RSG. 'twould be nice for Somers to trade a bit more and allow better price discovery, but well... And as usual, good news (NAV) is followed by a 1p drop this morning...
vacendak
09/2/2017
16:29
Big leap in NAV there
mad foetus
06/2/2017
09:08
Dividend announced, UTL up by 3p this morning and sunshine outside! Bah... it won't last. :( Http://www.investegate.co.uk/uil-limited--utl-/rns/dividend-declaration-q2-2016-17/201702060700060520W/ [edit] ICMIM has sold 130,000 shares on the market. Charles Jillings runs Utilico EM, and as the RNS states: "MR & MRS Jillings hold the majority of the shares in ICMIM". They sold at 197p, and UEM currently ticks at 201p, the spread is relatively tight at 0.5%. http://uk.advfn.com/stock-market/london/utilico-emerging-markets-UEM/share-news/Utilico-Emerging-Markets-Limited-Director-PDMR-Sha/73779496
vacendak
03/2/2017
10:38
Just for fun: Http://www.royalgazette.com/bermuda-stock-exchange/article/20170106/quiet-day-on-bsx That was on January 6th. Only ONE trade recorded for that day for the WHOLE exchange. Seriously? And it was a trade of 190 shares in Somers Ltd (I was looking for news on Somers and fished that one), which left the price unchanged. Somers Ltd is also mentioned there: Https://wexboy.wordpress.com/2017/01/27/top-trumps-for-2017/ Some involvement in a sharia-compliant fund business?
vacendak
02/2/2017
13:03
UIL Ltd is NOT a gold centric investment company! Stop spreading lies! :) Sure, gold shows up in many of our not-really-visible "resource" portfolio components, but it is officially only a hedge... just a big one. Gold up today indeed, with the move a bit sharper in Sterling too. Resolute and Panoramic had a reasonable market session overnight. We shall see today or tomorrow if the NAV keeps on inching upward. The good news about the companies that UIL Ltd holds under two or more layers seem to be percolating through. Somebody dumped a big load of UTL just before market close yesterday (25,000 around 4.22 p.m.) it seems to have shown-up only today. [edit] Resolute has gained regulatory environmental approval for the ravenswood project (Sarsfield site) Https://www.rml.com.au/uploads/7/2/0/8/72081691/rsg-ravenswood-progress.pdf
vacendak
02/2/2017
12:13
Gold powering ahead. UTL full steam astern. Seems to have become a playground for the MM's.
eeza
31/1/2017
09:13
UTL Also sold another chunk of Resolute - $ 7 million AUS worth Http://www.asx.com.au/asxpdf/20170131/pdf/43fp7n3nvcxcrj.pdf Zeta and other ICM entities also sold. ICM and UTL (via Zeta) still in Gold via other investments so overall exposure to Gold as % of portfolio similar despite recent sales of resolute. Oribital (ASX:OEC) is also coming back up after recent updates and combined with Augean sales should be back in the Top 10 when monthly factsheet comes up in Feb The £ 25 million loan taken when ZDP rolled over was only for 6 months so due end of April. I would hope for the share price they are going to pay it back but would not be surprised to see the loan take on another form or be itself refinanced as ICM like the debt.
morton2011
31/1/2017
08:33
This could be a play on the UEMS subscription shares. There is a round of conversion planned for the end of February. UIL Ltd may have sold to get some cash to convert and get back to the same holding by early March. UEM is hovering around 195-200p for a conversion at 183p.
vacendak
31/1/2017
08:03
We appear to have sold a chunk of UEM.
mad foetus
30/1/2017
17:17
+4.5p and a 2.5% spread by close of the day? Only two "buys" today and nothing major either. FTSE down and gold up slightly (in Sterling anyway) but nothing amazing... Still could be a gold effect on Resolute.
vacendak
30/1/2017
12:28
Very narrow spread today
mad foetus
30/1/2017
11:01
Just looking at my watchlist: CCE up 13.7% overnight. Small holding for UIL Ltd I agree, but it has more than doubled since they "upgraded" from CWE to CCE less than three months ago. http://uk.advfn.com/p.php?pid=quote&symbol=ASX%5ECCE Bigger RSG up by 3.0% too. Still some way to go back to the heights of last September (currently around AU$1.40 instead of above AU$2 back then), but inching back-up.
vacendak
27/1/2017
19:49
O/T - @Morton2011, the only tip you should take from me is: never eat yellow snow. Got lucky with SVR - though had been hoping for a 2nd bidder ;) SPPC is one I bought into a long time ago due to NAV discount - only to sell out again later at a loss. When they released the "we're going to liquidate/sell up" RNS, I bought back in. They've an interesting Brazilian potash co that may or may not be quite valuable, plus a few other bits, plus a lot of junk. They've seemingly been kitchen-sinking the NAV, but probably further drops when they liquidate. I'm expecting to get back plenty more than current s/p, but expecting it to take a while. I've not bought again since the original, post-RNS buy, & it's not a particularly large punt. Agree re Bob Morton (a rule of mine is never buy a listed accountancy or legal co. Partnerships don't work well as listed co's, never have and never will. Incidentally, the merchant banks should never have listed and then we'd not have had the financial crisis, but that's another debate). If you want to examine something interesting - have a look at EFR. It's the rump half of the old ECWO (EGL the other half), and is basically Lonestar Resources, a highly indebted but "cheap" shale gas play. You could just long oil instead, but you get EFR at a decent discount. (If tempted, leave an order with MMs, still lots of small sellers in it). I suspect they'll miss their 2 year deadline to liquidate but they can't keep going indefinitely. But once again - don't eat yellow snow!
spectoacc
27/1/2017
18:16
Bought back in with 4000 @ 155.00p
eeza
27/1/2017
16:09
And as I spotted last year too: We also own some potentially dodgy shell-companies: Page 85 of the latest AR: "Energy Holdings Ltd The subsidiary was incorporated on 21 June 2016 and remains dormant. UIL paid BM$100 for 100 shares issued UIL Holdings Pte Ltd The subsidiary was incorporated on 28 August 2015 and remains dormant. UIL paid S$100 for 100 shares issued" In case we need to pay some mercenaries to invade an African country like in "Dogs of War". :) Anyway: Everything is above board. It is just that it is written in a small black font on a grey background that tells you indirectly: "Just keep to the things written on shiny paper at the beginning!" Back to being serious: UIL Ltd has been around a while now. If Mr Saville et al. were crooks, they would have run with the money a long time ago (UTL peaked above 300p). Some earlier ZDPs (the 2014 I think) traded at a discount for a bit, hence ringing some alarm bells, but the three active tranches (2018, 20 and 22) have all traded at a healthy premium for quite some time. They are well covered and Utilico/UIL Ltd always pay their bills on time.
vacendak
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