Downing One Vct Share Discussion Threads

[127tolmers] 16/10/2013 08:58

Proposed merger contains details of an ambition to do buybacks at a 5% discount.

The boards of the Companies consider that the Merger will bring a number
of benefits to all of the Companies' groups of shareholders through:

* A reduction in the expected annual running costs for most
shareholders;

* Annual running costs capped by Downing at 2.75% of net assets;

* An increased likelihood of a regular sustainable tax-free dividend
yield of at least 4% of net assets per annum;

* Dispersion of risk across a broader range of investments pursuant to a
new investment policy for the Company;

* Increased liquidity in the ability of shareholders to sell their
shares, including an intention to buy in shares at a discount of
approximately 5% to net asset value;

At a 68.5p NAV, a buyback would be at an equivalent to 65p in today's prices.

[vulgaris] 20/7/2010 16:43

Why today's 50% jump?

[nextlink] 15/7/2010 15:11

Mixed Fortunes
I see they sold 10% of their Connaught holding in the last tax year, so a very nice gain, as they paid £3K and sold for £38K.
If they still have the other 90%, any gain will have dwindled.
On another note - Can't understand why anyone would subscribe for new shares at 105 pence, when they can buy in the market at 60 pence or less.
The only gain is no dealing costs and stamp duty, so unless your only buying a few hundred, you'd be nuts to subscribe.

[127tolmers] 19/4/2010 13:42

Welcome to a new board.

Interesting that DDV1 (predecessor companies)have warned that they may not be able to issue an enhanced buyback share offer after HMRC discussions while other VCTs are still pushing ahead.