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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Close BR.Dev | LSE:CBD | London | Ordinary Share | GB0004832472 | ORD 50P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 0.00 | 0.00% | 69.50 | 0.00 | 01:00:00 |
| 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 | 69.50 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 24/4/2024 | 13:45 | UKREG | Portfolio Company Update |
| 19/4/2024 | 16:51 | UKREG | Albion Development VCT PLC: Annual Financial Report |
| 16/4/2024 | 14:25 | UKREG | Issue of Equity and Total Voting Rights |
| 28/3/2024 | 14:00 | UKREG | Total voting rights and Capital |
| 25/3/2024 | 14:30 | UKREG | Director/PDMR Shareholding |
| 25/3/2024 | 10:15 | UKREG | Issue of Equity and Total Voting Rights and Capital |
| 20/3/2024 | 09:07 | UKREG | Closure of the Company's Offer |
| 12/3/2024 | 15:30 | UKREG | NAV announcement and Portfolio company update |
| 29/2/2024 | 14:00 | UKREG | Total voting rights and Capital |
| 31/1/2024 | 13:30 | UKREG | Total voting rights and Capital |
Close Brothers Dev Vct (CBD) Share Charts1 Year Close Brothers Dev Vct Chart |
|
1 Month Close Brothers Dev Vct Chart |
Intraday Close Brothers Dev Vct Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 19/11/2004 | 18:28 | Close Bros Dev. VCT plc - one of the better VCT's | 140 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|
| Top Posts |
|---|
Posted at 17/11/2004 19:11 by timbo003 A0002577I've still got plenty to go on the "free" tax allowance (providing my employer keeps paying me well up until the end of the tax year). I'm curious, if you don't do new issue VCTs, where else can you use up your "free" tax allowance? AVC pension contributions, EIS companies, film partnerships and deliberately making a loss on agricultural ventures are the only ones I have come across (for skivving off 40% income tax). Am I missing something? On a related topic, I see that CBD bounced back today, (the MM must have got round to reading yesterdays RNS concerning increased NAV), I don't hold, but I remain interested. Also, Northern 3 (NTN) reported today I'm a recent new subscriber, these are doing quite well to date for a relative newcomer, they just keep dishing out the tax free divis, long may it continue. |
Posted at 15/11/2004 17:38 by timbo003 I see that CBD are once again trading at a hefty discount after todays announcement concerning the increased NAV, you would have thought that the MM might have nudged his quote up a tad, but it was not to be I'm afraid.Back on the subject of VCT new issues, I will probably do £5K in Pennine AIM VCT5 This is not because I like AIM VCTs particularly, but I do like the idea of a 30% divi (in the form or a 30% share buyback at the NAV after 3 years). Also, Ventus look interesting. They are into onshore, wind energy projects, their prospectus talks about an 8% divi, after 3 years. If they could deliver, that would be very nice, I'll probably do another £5K in these. Then there's Close Income and Growth which will account for another £5K and then I will need to co a couple of EIS investments to make certain Gordon doesn't share in any of my gains this year, so that's probably another £10K-15K shared between Capital Pubs 2 and Nu Nu plc. |
Posted at 30/9/2004 13:46 by a0002577 rambutan2 I couldn't agree more : When every newspaper and every financial "services" guy says they are a good idea, then it is generally not at all a good idea to jump in. And never let the tax tail wag the dog. You are even more right on the AIM ones : there has always been a dearth of good issues on AIM that qualify (why list if you can make more money without listing I always ask myself)I shall be keeping an eye on the new issues - waiting my time to buy at less than 60% of the asking price for the new shares. And my guess is that most of these issues will reach that price within three years - except for the Close Bros issue and the Enterprise top up - and even with those I shall be able to buy them at a lower price with established holdings : I have done very well out of 'second hand' VCT shares - and will continue to look for opportunity. Maturing portfolio, sensible dividend policy etc and then dive in : can't spot any opportunities at the moment but I can afford to wait |
Posted at 30/9/2004 12:29 by a0002577 Hi Timbo003 - this is from the Motley Fool and may be of interest to youBy Cliff D'Arcy (TMFCliff) September 30, 2004 So far this year, I've written about Venture Capital Trusts (VCTs) in March, May and August. Having mentioned this subject four times in six months, you'd think that I'd have put my money where my mouth by actually investing in a VCT. However, investing in VCTs is fraught with danger, and an area where the old investment saying "Do your own research" becomes terrifically important! If you've never heard of VCTs, you learn more by following the above links. In brief, VCTs are quoted investment companies (similar to investment trusts), which invest in small companies, including those on two stock markets: the Alternative Investment Market and OFEX. In order to encourage us to invest in these risky sectors, the taxman gives VCT buyers 40% tax relief. In effect, a 60p VCT investment is 'grossed up' to £1, which means a 67% return on day one. Furthermore, neither VCT dividends nor capital gains are taxed. You need to hold VCT shares for three years to qualify for these tax concessions. VCTs sound pretty interesting, don't they? However, don't be lured into investing in VCTs purely for the tax relief, otherwise you could end up nursing some serious losses. Here's why: Colossally high charges As with most collective investment funds, VCTs have initial (upfront) and annual management charges. Then again, these are fantastically high more than any other mainstream investment that springs to mind. Here's how much of your money can disappear in charges: // Table left out (The true charges over three years will be slightly less than those I've quoted above, because all three years' annual fees don't get taken on day one, but I trust you get the picture). One way to reduce the initial charge is to buy a VCT through a discount broker such as Bestinvest, which offers rebates of 1% to 2.5%, or Cavendish Online, which rebates all commissions it receives, usually 3%. Nevertheless, a high-charging VCT can swallow almost half of your tax relief over three years ouch! Whopping discounts As with investment trusts, shares in VCTs trade at a discount to their underlying value. In technical terms, the share price is almost always lower than the 'net asset value'. In some cases, the share price can be less than half the NAV, thanks to a discount of 50%+. This could mean that the NAV could be, say, 50p, but you can only get 25p for your shares. Eek! Low liquidity Another problem is that shares in many VCTs are highly illiquid, which means that it can be difficult to buy or sell a reasonable number at a time. For example, with some VCTs, several brokers will only trade 500 shares at a time. If the share price is, say, 60p, that means selling in batches of £300. Also VCTs spreads the difference between the (higher) buying price and the (lower) selling price can be huge, which can gobble a serious chunk of your capital. Poor performance The small-company sector hasn't done too well since the dotcom bust began in 2000. This means that some VCTs have performed appallingly. Some have lost almost four-fifths of their capital, with this 80% loss wiping out all the investors' 40% tax relief, plus another 40% for good measure. Yikes! So, when it comes to investing in VCTs, you need to be aware of the risks. I may well decide that the sensible thing to do is not to invest in VCTs at all. More about VCTs: TrustNet | Tax Shelter Report. |
Posted at 29/9/2004 09:15 by a0002577 well done timbo003. Not sure about the continuing placing of money into VCTs - they are very illiquid but provided you have enough liquid outside then its probably OK. BSV have done me very well this year (bought in the market) 40% up on buy price plus and 11% dividend - the other Smaller Cos trusts also jumped this morning - good luck |
Posted at 22/8/2004 13:18 by a0002577 rambutan2 thanks for pointing it out. I usually try to notice these myself but somehow (too busy? didn't notice it. The announcement states they have, recently made £3 million gains by selling non qualifying investments as part of the ORD share fund.The next announcement reads "Following this purchase there are now 34,769,234 Ordinary Shares of 1 pence and 15,763,314 Series 2 Ordinary Shares in issue. So 3 million spread over 34 million shares is somewhat less than 10 pence a share. They go on to say they want make capital distributions. Hmmm... May be they are going to spread it over a few years too. NAV is only a little bit above price so not (for me anyway) a buy. If you are a holder then you should get some nice tax free cash back. |
Posted at 09/8/2004 18:43 by timbo003 A0002577Good find on BSR, It looks like there will be special divis before long, but how do you buy in any quantity? NMS is a mere 1K shares and there is only one Market maker (Wins). The last (and only) time I tried buying a VCT in the market (CBD, 5K shares), I was told that the MM (Wins) had no stock and he wouldn't deal, except at way above the quoted offer price, needless to say I declined the offer. On a related matter, looking through the recent RNS announcements for BSR, who were the idiots who exercised their warrants at 100p !!! |
Posted at 09/8/2004 08:21 by a0002577 Don't believe all you hear about these buy backs. Some managers just say this and then do nothing. However this in itself may be a reason to buy - if you believe them - as when the share is trading at more than 10% discount, there may be an opportunity to buy before the company starts its buy back. However the history of buy backs by VCTs is that they buy back as the share price starts to drop, run out of money and then cannot buy any more : one questions whether this is the right policy for continuing investorsFor information : the one I am looking at, at the moment, is BRITISH SMALLER TECHNOLOGY COMPANIES VCT PLC (BSR) where the offer price is 28 pence and the NAV nearly double that from last annual report: "Commenting on the prospects for the portfolio, David Hall, Managing Director of Yorkshire Fund Managers, the Investment Adviser to the Company, said, "It is satisfying to see those companies which are more advanced beginning to move towards, or into, profit. Should the level of economic and business sentiment continue to improve we expect to see an increasing level of corporate transactions, which will improve the likelihood of achieving realisations from investments in the short to medium term. |
Posted at 08/8/2004 15:56 by a0002577 You're right about 'pushing up the daisies' : that is probably why they had to sell. My wife has been instructed to hang on to them - as has my son - who will be my executor (but I am not planning on going just yet though).the original investor in BSV has not had much be way of dividend : check on ADVFN to see what he did have - nothing juicy there until this year. That's my point really, older VCTs will have some investments maturing now and you can expect reasonable payouts from here on - but only if you can buy cheaply Saw the article in the IC (have taken it for years but not overly impressed with its 'tipping' ability) Look at the IRR of the listed best VCTS : the only one that has really beaten the "6% over the All-Share" has been Foresight : and all of that one was down to one company in the dot com boom (they sold out just before it went bust!). They only list the top 10 and by the time they get down there the IRR is 3.66% : What about the other 50 VCTs? I bought into four of the top ten and three others as well and the IRR on net of tax investment is of course much higher - but my IRR on ones bought 'second hand' has been better. Have a look at the investment trusts listed - and see how much better they have done - over a 10 year period. The tax reliefs are fine : but the VCT industry really takes all the cream. Why do you think they lobbied for the new rules to give 40% tax back instead of 20% back and 20% by way of extra shares. Answer : their commission would be less. I shall not be investing in any this year - at least not new shares BUT I shall attempt to buy some in the market if the price is right. All the press concentrates on the tax reliefs : and does not give much indication of the appalling performance of most of these. Have a look at the prices (and NAV) for the Murray list for example. Good luck though : |
Posted at 02/1/2004 20:38 by ukneonboy Anyway, back to our ongoing discussions about Close Bros Developments VCT plc (CBD).Yes, you are correct, the company did recently "buy-back" and cancel a large block of CBD shares, and Yes, the vendor probably was a deceased estate. However, CBD would NOT have been quite as keen to buy these shares, if the shares themselves weren't trading at a massive discount to the N.A.V of 79.5p (Sept 2003) The net asset value is expected to have risen above this figure in recent months, which supports my argument for trying to buy CBD shares (cheaply). I'm basically anxious to exploit the "supply and demand imbalance" with CBD and I am very keen to "mop-up" any surplus shares, that become available either via Winterflood Securities (WINS) or Brewin Dolphin Securities. UKNEONBOY :-) |
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