|Utilico Investment Trust
||EPS - Basic
||Market Cap (m)
Utilico Investment Trust Share Discussion Threads
Showing 176 to 196 of 200 messages
|Thank you purse|
|Time to move on to UTL the new EPIC.
The 2012 Warrants UTLX were issued almost 40 per 1000 Ords, 39.9etc.
In one account (Share Centre) I have the new shares & the warrants, but at Computershare my holding is still suspended. Good job I didn't want to sell.
See you all on UTL
All we need now is ADVFN to get the prices correct.
On my Monitor they show UTL £3.06 - £3.14, but in my Portfolio they are £310.
I know which I prefer but I don't think I'll have many buyers at that price.|
|This is what I think is likely to happen if all CULs are converted:
Ord holders will receive one bonus 2012-wrt per ~25 ords they currently hold
wrt holders will receive one bonus 2012-wrt per ~39 wrts they currently hold|
|Warrants to warrants or warrants to ordinaries?|
|I might have got this completely wrong but I think if all the CULS are exercised, the wrt holders' bonus ratio is likely to be 1-for-39(roughly) rather than 1-for-5.|
I was trying to guess how many warrants I might get.Presumably I can work on 1 for 5 as per 110 above.|
|Linhur, page 28 I think answers your question/s. Second to last paragraph
"The exact number of Utilico Warrants available under the Bonus Issue will not be known until the number of Utilico Investment Trust Ordinary Shares to be issued upon the conversion of the CULS is determined".|
|Having re-read the prospectus I am struggling with the bonus issue for 2012 warrants.I do not know how many warrants I am going to get as an ordinary shareholder.
As I understand it there are 19,264,812 warrants currently in issue.When the scheme is effective, these warrants will be converted into 12,329,479 2008 warrants on the basis of 64 for every 100.
There are proposed to be issued 3,617,481 2012 warrants as a bonus to ordinary shareholders and 2008 warrant holders.
At the end of the day, there will be one 2012 warrant for every 5 Utilico Ord share in issue at admission.The no of ord shares in issue at admission depends on CULS conversion, but assuming 100% conversion, the assumption made in the document is 79,734,800 ord shares will be admitted.
1 for 5 equals 16mill warrants against 3.62mil above ??
Can anyone help with the anticipated bonus issue of 2012 warrants?
|Whatever UIL you have keep it, or if you are a growth junkie ditch everything and buy all the 2012 warrants you can IMHO.|
|Reading all the "bumpf" I can't see any reason why I won't remain invested.
Utilico has done very well for me since I first invested as Special Utilities.
The recently spun out Utilico Emerging Markets is also performing well, so I think they know what they are doing.
I haven't had chance to study the ZDP offer that is available but they are offering 7.25%pa which appears so so,for a 2012ZDP & 2014ZDP BUT to be bought as a package.
|F & C have increased their holding. The circulars covering windup, rollover and capital raising look reasonable. The reason for moving explained on page 23 of Recommended proposals document, "Background to the Proposals".|
|Suggest waiting for EGM to hear the reasoning before leaping into action. Utilico share price has moved up quite strongly since the move being announced.|
|I can't imagine regulation is that tight in Bermuda! I'm only a warrant holder but thinking of exercising; they have done well for me.|
|Wonder if its a bad sign for UK plc. Is the message it is better to list offshore than it is in th UK?
As for the "Awkward squad" most of them have done so well out of UIL over the years they will be chartering there own plane to Bermuda......
My only other concern is regulation UK gives the impression it looks after its investors but this may be born out of ignorance on my part. Opinions welcommed.|
i missed the last agm because they somehow failed to send me a report and accounts!
at mo they certainly on course for a stonking performance fee.|
Yes AGM in Bermuda as all company meetings would have to be located there.
It will require an EGM as moving a registered office offshore would need a special resolution.I am hoping that interested private investors might be quietly invited to any unofficial London briefings that the manager might hold. It must be in the Company's interest to keep existing private holders on board. However it might be deemed better to keep the "awkward squad" at bay.
|This will presumably require an EGM. Wonder if it will mean the AGM will now be held in Bermuda?|
|Proposal to relocate registered office to Bermuda.
I suppose this means that there will be no chance to quiz the board and ask awkward questions at AGM.
Going to exercise the convertibles to ordinaries and raising £50m.
|Interim results out, of which thius is an extract:-
HIGHLIGHTS OF RESULTS
* Profit for the period of #74.6m
* Equity shareholders' funds increased 51.5% to #219.2m
* NAV per share undiluted up 51.5% at 336.97p
* Equity gearing reduced to 1.6x
* Undiluted average annual compound return per ordinary share of 51.6%
* The Chairman, Alan Wheatley, commented, "Once again I can report on a
very satisfactory first half. The infrastructure and utilities sector remains a
key focus for the markets and the two key factors influencing this sector,
corporate activity and strong earnings, remain in place and should continue to
benefit investors. Utilico's portfolio should benefit from these factors,
although rising interest rates could challenge this outlook."|
|3i are raising a £1.5bn infrastructure fund! So all that cash is going to be looking for cash generating assets with monopolistic features. So I would buy all the utilities and infrastructure trusts (ECWC,UIL,UEM) you can before they do IMHO.|