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ECP Eight Capital Partners Plc

0.028
0.00 (0.00%)
13 Dec 2024 - Closed
Realtime Data
Share Name Share Symbol Market Type Share ISIN Share Description
Eight Capital Partners Plc AQSE:ECP Aquis Stock Exchange Ordinary Share GB00BYT56612
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 0.028 120,000 15:29:42
Bid Price Offer Price High Price Low Price Open Price
0.026 0.03 0.03 0.028 0.028
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
12:33:29 120,000 0.03 GBX

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Date Time Title Posts
22/8/201813:17Eight Capital PLC-
16/12/200807:02EnCap: Liquidating. A Bargain at 120P?111

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Posted at 11/12/2008 10:07 by poacher45
Received 11.2p per share on the 8th of Dec. They are trying to reclaim more tax in America. If successful could payout upto a maximun of 1p but not before October 2009.
Posted at 13/10/2006 03:40 by xxx
bizarre, thats why i havent contacted them....can i ask how this has been treated in terms of personal tax?i filled in encap in the liquidations part of my tax return,but can anyone explain how it is treated eg if you pay 1.20/share and receive distributions of 108 pence so far,how is the benefit/liability calculated? thanks in advance.
Posted at 25/12/2005 08:52 by poacher45
Just had another 7p a share dividend and with the tax situation looking better could possibly see a final payment above 7p.
Posted at 02/11/2005 10:23 by diogenesj
Didn't go, and haven't heard anything, I'm afraid. If it's the minimum 1p per share, I'm only due for another £50 or so - but it would be nice to get this business out of the way. :-)
Posted at 08/10/2004 15:46 by diogenesj
Thanks a lot, poacher. I wrote to the company in September asking to be kept informed as a shareholder, but they ignored the letter, so this is the first I've heard. I see now that there actually is an RNS, but it didn't show on my screen.

It's not good. Every time you hear from these people, they seem to have got through more of the cash. There was supposed to be £29.90m in cash. 75p per share is about £17.42m, plus the £11m left makes £28.42m, so that's another one and half million down the drain. If they pay out £10m of the last £11m, that's only another 43p per share, total 118p. And what about the last investments?

Anyway, thanks again, I appreciate the trouble you have taken to post this. Do let me know if you hear any more. Luckily I haven't got a big holding.

Best wishes,

D.
Posted at 15/8/2004 18:58 by energyi
liquidated too soon. it seems...
Background
Following the receipt of the proceeds of the disposal of Cordillera in October
2003 and the receipt of a distribution of approximately $9.6 million from MPAC
Energy/AROC in November 2003 and other minor realisations since then the Company
currently has cash deposits of approximately £27.2 million. The Company's
remaining investment assets have a book value of approximately US$10.4 million,
based on the investment values as at 31 December 2003. The two significant
investments that remain are BreitBurn (valued at approximately $6.7 million) and
MPAC Energy/AROC (valued at approximately $3.5 million).
...
As at 31 December 2003 the audited net asset value of the Company extracted from
the Report and Accounts for the year ended on that date was 248.5 cents per
share, equivalent to 139.7 pence per share at an exchange rate of £1: US$1.7785
at that date, with the Company's assets at that date represented by £25.7
million sterling and $2.0 million US dollars in cash and $10.8 million in
unlisted investments. As at 31 May 2004, being the latest practicable date
before the publication of this document, the Company's assets were £26.5 million
sterling in cash and its dollar net assets, including estimated US taxation net
recoveries and based on investment values as at 31 December 2003, were $10.4
million. Converting the latter at the current exchange rate of US$1.84: £1
results in assets of approximately £32.2 million sterling or 138.7 pence per
share.

= = =

recent news
1)
Energy Capital Investment Company PLC ("the Company") has been advised that, as
at close of business on 8 July 2004, Man Financial Limited are interested in
2,363,855 Ordinary 25p shares, representing 10.18% of the issued share capital

2)
NOTICE OF TEMPORARY SUSPENSION OF LISTING FROM THE OFFICIAL LIST

14/07/2004 7:30 AM ...TEMPORARY SUSPENSION
ENERGY CAPITAL INVESTMENT COMPANY PLC
The Financial Services Authority ("the FSA ") temporarily suspends the
securities set out below from the Official List effective from 14/07/2004
7:30AM at the request of the company.pending an announcement

3)
at 13 July 2004 Deutsche Bank AG has a notifiable interest of 1,608,850 Ordinary
25p shares of the Company, representing 6.93% of the issued share capital.
Posted at 25/2/2004 00:26 by judgement
Hi Linhur,

I didn't realise it was Venture they were in talks with! Was that publicised, or just something you heard?

Wonder is the mark-up implies that someone's gone wind of a price for the rump of the portfolio.
Posted at 23/11/2003 11:31 by flying pig
I agree that there appears to be a premium between the likely return and the share price. Not dramatic but better than the building society.
Posted at 03/5/2003 00:56 by energyi
Energy Capital Investment Co.PLC
29 April 2003
Chairman's Statement

Compared with the hectic activity of the previous year, largely prior to
September 2001, the investment disposal activity in 2002 was decidedly muted.
However, on the corporate front, the return of $30m (#19.5 million) capital to
shareholders in July was the highlight of the year.

As shareholders are aware, the Board has continued to review actively ways to
maximise shareholder value and shareholders have agreed to extend temporarily
the life of the Company until the Annual General Meeting to be held in 2003 when
the matter will be reconsidered. The primary reason for this extension was to
examine options which might be more attractive to shareholders than an orderly
winding up of the Company.

After adding back the return of Capital and the associated costs in connection
therewith totalling $30.3 million to the net assets at 31 December 2002, the
total of $86.7 million is much the same as the total of the net assets at 31
December 2001 ($86.8 million). The net assets at 31 December 2002 of $56.4
million are equivalent to 242.7c per share on the reduced number of 23.2 million
shares now in issue or 151.3p in sterling terms compared to 233.7c per share or
161.0p in sterling terms at 31 December 2001. Applying the current exchange rate
to the year end net asset value per share would increase the sterling equivalent
to approximately 152.6p as compared with a current share price of 87.5p
representing an approximate discount of 43%.

Portfolio transactions during 2002 were primarily limited to the sale of our
interest in First Permian to Energen Corporation providing ECIC with cash
proceeds of $1.3 million. However, significant progress has been made to improve
the realisation possibilities of our remaining investments. In the first quarter
of 2003, interests in CERES, Hilcorp Energy and Sierra 1996-1 were sold
resulting in ECIC receiving cash proceeds of $2.8 million. Further, the sale of
our interest in 3TEC to Plains Exploration is expected to close in the second or
third quarter of 2003 providing ECIC with cash proceeds of approximately $6.3
million and 472,000 shares of the acquirer, which represents an enhancement,
assuming the current price of Plains Exploration, of approximately $0.7 million
over the carrying value as at 31 December 2002. We continue to believe our
liquidation programme, supported by a favourable oil and gas pricing outlook,
will maximise remaining value to our shareholders. As a matter of policy we are
holding cash balances, currently totalling approximately $8 million, 50% in US
dollars and 50% in sterling.

Both oil and natural gas prices showed increasing strength throughout 2002.
After reaching a low near $18 per barrel during the first quarter of 2002, crude
oil steadily increased during 2002 to reach $31.23 per barrel by the year end.
Similarly, natural gas reached a low of near $2 per MCF during the first quarter
of 2002 but steadily increased to $4.75 per MCF by the year end. Both oil and
gas prices remain strongly supported to date in 2003 primarily due to near
historically low U.S. inventory levels present with both commodities. In
addition, continued geopolitical concerns related to oil and concerns over US
production decline rates, primarily associated with natural gas, have provided
ongoing pricing support to date in the current year.

In valuing our remaining project equity and certain private company investments
at 31 December 2002, consisting primarily of MPAC Energy, BreitBurn and
Cordillera, we have applied the NYMEX forward strip pricing at that date. Oil
prices applied in the valuation, before adjustment for price differentials, were
$27.35 per barrel for 2003 and averaged $23.80 per barrel for the subsequent 5
years. Natural gas prices applied were $4.54 per MCF for 2003 and averaged $4.10
per MCF for the subsequent 5 years. Consistent with prior years, such pricing
was applied to proved reserves as provided by third party engineers with the
resulting cash flow, net of all future development and operating costs,
discounted at 10% per annum. After taking into account adjustments for portfolio
companies' liabilities and other assets, the value of asset-based investments
was $27.9 million, or 52 % of our investment portfolio at 31 December 2002.
Investments valued at quoted securities' prices or at their realisable value, as
with loans and investments under existing sale agreements, totalled $25.8
million aggregating to a total investment value at 31 December 2002 of $53.7
million.

In order to expedite the liquidation of our remaining investments we have
recently revised, with the full cooperation of EnCap, the management agreement
to remove approximately $20 million of quoted investments from their management.
Hitherto, these investments were subject to various sale restrictions by virtue
of the fact that the Company was deemed to be an affiliate of EnCap in relation
to those investments.

We shall continue to keep under review ways to maximise shareholder value,
including share buy-backs in the market, and to return any significant surplus
capital to shareholders in a tax efficient manner. In this respect, as with last
year, it is deemed not to be in the interest of shareholders to recommend the
payment of a final dividend for the year ended 31 December 2002 or, indeed, to
pay dividends in the future whilst the Company is in its present wind-down mode.

Resolution 5 at the forthcoming Annual General Meeting proposes that the
Company's life should be extended for a further year until the conclusion of the
Annual General Meeting to be held in 2004. Your Directors continue to believe
that it is in the best interests of shareholders to remain with the Company in
its existing wind-down mode rather than to place the Company into voluntary
liquidation.

As reported at the interim stage, Gary Petersen, an executive director of EnCap,
did not stand for re-election at the Annual General meeting held on 27 June 2002
and also on that day, Leo Deschuyteneer resigned following Sidro S.A.'s sale of
their entire shareholding. On 21 November 2002 Andrew Pegge, who represents
Laxey Partners' significant interest in the Company, was appointed as a
non-executive director. I would like to take this opportunity to thank my fellow
directors and those who have resigned during the year, together with our
professional advisers, for continuing to assist the Company in enhancing the
value to shareholders in pursuance of our exit strategy.

Alan Henderson

Chairman
29 April 2003
Posted at 23/3/2003 08:46 by energyi
ENERGY CAPITAL INVESTMENT COMPANY PLC ("ECIC")
Announcement re 3TEC



The Board of ECIC announces that Plains Exploration & Production Company
("Plains Exploration") has conditionally agreed to buy 3TEC Energy Corporation
("3TEC"). ECIC's ownership of 3TEC includes 447,095 shares of common stock,
131,498 warrants (to be exchanged for 92,048 shares in Plains Exploration and
$0.9 million cash) and convertible preferred stock with a liquidation preference
of $1.7 million. ECIC's interests in 3TEC will be acquired for a cash
consideration of $6.4 million and 472,079 shares of Plains Exploration with an
estimated value (assuming the current share price of Plains Exploration of $9.44
as at 18 February 2003) of $4.5 million.

The Offer is subject to adjustments
depending on movements in the share price of Plains Exploration prior to
closing. This adjustment mechanism is intended to provide that the total value
of the consideration received in respect of a 3TEC share will be between $15 and $19. The aggregate of $10.9 million compares with the valuation of $9.4 million
as at 31 December 2002 and $11.3 million included in the reported figures for
the half year ended 30 June 2002. Completion is anticipated in the second
quarter of 2003.

= = =
ECIC's ownership of 3TEC includes 447,095 shares
447095 x $15.70 = $7.0 million /1.54= £4.55 million

est. 35mn shs. O/S:
£4.55 / 23.5 = 19.4p / ECP share
Eight Capital Partners share price data is direct from the London Stock Exchange

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