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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Active Capital | LSE:AIT | London | Ordinary Share | GB0030383326 | ORD 0.1P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 0.00 | 0.00% | 8.50 | 0.00 | 00:00:00 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| - |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| - | O | 0 | 8.50 | GBX |
Active Capital (AIT) Share Charts1 Year Active Capital Chart |
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1 Month Active Capital Chart |
Intraday Active Capital Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 12/4/2012 | 09:24 | ACTIVE CAPITAL TRUST----other threads refer to wrong company now. | 114 |
| 06/5/2003 | 08:07 | AIT Group ( A I T ) Time to buy! | 2 |
| 14/6/2002 | 10:40 | ait down 50 % | 3 |
| 13/6/2002 | 08:10 | ait group for the future or short term? | 3 |
| 31/5/2002 | 14:44 | BOUNCE IS ON !!!!!!!!!!!!!!!!!!!!!! | 3 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|
| Top Posts |
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Posted at 24/8/2009 11:46 by foster Not having looked at this company for some while, I was amazed to discover the following. Any prospective investor in the shares of this company MUST read this carefully...One excerpt:- "When the Company was launched in April 2001, the objective was to return to Ordinary Shareholders 99.9p per Ordinary Share plus an amount equal to 7.5 per cent. per annum compounded annually (based on an issue price of 100p per Ordinary Share from the Company's launch date to the date of payment) by 31 May 2007. Following Shareholders' approval in July 2006, the target date for such return was extended to 31 May 2012. When the target date for such return was extended, the Board gave a commitment to provide Ordinary Shareholders with an opportunity to vote on the Company's future at the annual general meeting in 2009 if certain performance objectives were not achieved as at 31 May 2009. "Following the Company's [or should it be investment manager BLUEHONE'S] FAILURE to meet those performance objectives, the Board consulted with the largest Ordinary Shareholders and subsequently considered proposals for the Company's future which were received from several interested parties, including BLUEHONE. Having considered the feedback received from the Ordinary Shareholders consulted and the proposals received from the interested parties, the Board concluded that it is in the best interests of Ordinary Shareholders as a whole to convert the Company into a realisation fund and that this would be best undertaken by BLUEHONE." [my caps.] For nearly five years I have posted warnings about the performance of this company and highlighted the generous rewards for investment management failure. With each crisis, it has become ever more incredible that, somehow, BLUEHONE not only survives but continues to do so on generous terms. Even now, their flair in negotiating their own position seems to me infinitely more successful than generating returns for shareholders. |
Posted at 25/6/2009 21:44 by foster Haven't been here for quite a while, so it's reassuring to see that things don't change...Today manager Bill Brown announced another 7.5% of NAV destruction (so why did the share price drop by only 4.9%?). Laxey Partners and the other arbs might be looking forward fondly to forcing a liquidation later this year to cash-in on the NAV, but at this rate there won't be much left by then. |
Posted at 09/11/2008 17:29 by foster As at 30 September 2008, AIT's top holding was Cape at 8.6%.Cape's share price has since dropped by two-thirds, due to debt worries. Given their expertise in that area, you might reasonably have expected AIT to have avoided the shares. |
Posted at 23/10/2008 14:47 by foster It looks as though AIT has indeed remained fully geared throughout the downturn. TrustNet today shows that AIT has destroyed more Net Asset Value than any other investment trust (of the 268 listed with data available) over 5-years (-54%), 3-years (-59.3%), and 1-year (-68.1%). The stated objective of the trust is "to provide shareholders with medium to long term capital growth". However, NAV now is less than half the value at launch, seven years ago. The share price is at an all-time low. And, of course, there have been no dividends. The management has failed before. It was given a second chance via the merger, and has now failed again. IMHO, if the board do not take immediate and positive action they could be regarded as negligent in their duty to shareholders. |
Posted at 23/1/2008 22:37 by foster I came across something interesting today, on the AIC website: up-to-date data for AIT that shows gearing has reached 150. This looks like the level at which the managers have to take action to comply with the financial covenants of their loans. Total borrowings must not exceed 50% of NAV. If true, it could mean trouble ahead.Remember that this is the team that decided, when running Aim Trust, to increase borrowing during year 2000, at the top of the last bull market. For the next two years, they kept gearing high as the market collapsed. They were up against their loan covenants so badly that by 2003 they needed to sell shares and hold more than 20% of assets in Gilts. The solution was to merge Aim Trust with the ungeared 3PC trust, change the name, and forget about everything before 2003. Poor old investors in Aim Trust who bought at launch in 1996 (if there are still any left!) are today seeing no share price return and no dividend return over all that time. They must be hoping that history isn't about to repeat itself. |
Posted at 21/1/2008 19:43 by foster This trust's aims are given as..."To provide shareholders with medium to long term capital growth..." By my reckoning, since launch in May 2001, shareholders are currently seeing a share price return of approximately...zero For this performance, the investment management fees over the past three years alone have cost shareholders more than £6m on net assets of under £100m. It makes you wonder for whose benefit this trust is being run. |
Posted at 05/3/2007 12:34 by foster Spin Doctor...Sorry, haven't been here for a while. Those are AIT's own numbers from their published factsheets: There the benchmark is stated as "AIC UK Smaller Companies" On Trustnet it is given as "Lipper - UK Sm Companies SA" As many of their invetments are on the AIM market it is not clear to me why they do not use an AIM index benchmark. Meanwhile the NAV and share price have been romping away. I see that on 23 February, near their peak, the Board announced that the Company purchased for cancellation 350,000 ordinary shares of 0.1p at a price of 145.50p per share. They could buy some today at 135p. |
Posted at 22/11/2006 18:10 by foster From November 2006 factsheet:Average annual return figure since inception... 5.21% Cumulative performance figures... 1 Month Year to date 1 year 3 Years Since Inception AIT 3.2% 6.4% 14.2% 36.2% 28.9% Sector 4.7% 17.8% 28.3% 77.0% 71.6% Source: Datastream & Lipper, percentage growth, bid to bid, net income reinvested to 31.10.2006. |
Posted at 24/10/2006 11:25 by foster Manager's Comment on monthly Factsheet, September 2006:"No commentary available this month." Manager's Comment on monthly Factsheet, October 2006: "No commentary available this month." Share price cumulative performance: Factsheet still shows underperformance relative to sector over every stated period:- 1 month, 1 year, 3 years, and since inception. |
Posted at 15/10/2004 11:33 by foster For the past six months...NAV of Active Capital............m FTSE Small Cap (ex IC) index.....minus 3% AIM index .................... For the past five years, my estimate of the share price return for AIM Trust shareholders, who converted to AIT shares at a rate of 1.086:1, is as follows... ATR/AIT share price..............m FTSE Small Cap (ex IC) index.....minus 1% AIM index .................... |
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