EF Realisation Share Discussion Threads

[spectoacc] 15/11/2018 13:29

Certainly once I'd sold mine @psync ;)

I'd be fairly confident on getting all EFR suggested for the remaining assets at least. And LONE held up reasonably well considering oil tank.

[psync] 15/11/2018 12:05

Second interim distribution announced today on RNS. 4.5 pence per share to be paid on or about 23 November 2018. Two more investments remain yet to be sold.

@kenmitch - Sorry bit late now, but I have less than 10k shares and received cash for the last payment in my IG share dealing account. I wouldn't be surprised if however they had too few client holders to cross the 75,000 threshold.

[kenmitch] 02/11/2018 09:40

Agree re likely legislation.

It’s unlikely you’ll be able to trade GRIW in size....but £5000 worth, even if bought in stages gives similar upside to £50000 invested in the share. There are only a handful of investors who trade the few remaining warrants and so price anomalies like the current one on GRIW happen and are a real bonus. .....as long as the share can go up!

[spectoacc] 02/11/2018 09:18

@kenmitch - at risk of going off topic - this far the legislation seems to be aimed at reducing leasehold rather than abolishing it, which is good for GRIO (&, by extension, GRIW). But I no longer hold GRIO & have no interest in GRIW unless could buy in size.

[kenmitch] 02/11/2018 09:09

Thanks SpectoAcc

You’re right. I should have realised that!

Will just have to wait now. iii do take US shares so at least that’s not a problem.

btw... I’ve been adding to my Ground Rents Income holding. Share currently 110p to sell and GRIW a crazy 9p to buy. Have to do fill or kills to get them at 9p.

Government update could be soon.

This investment report worth a read if you haven’t already seen it?



Hoping share could go up from 110p to 120p in time. Then GRIW will be worth 20p. Worth locking away?

[spectoacc] 02/11/2018 08:32

@kenmitch - you should have been aware of this. I posted that I'd had to sell my EFR holding pre-record date due to my SIPP provider not being able to hold US shares - ie getting any LONE was out of the question. I initially sold it down to the 75k limit before this 20th Sept RNS from the co, which I also posted:

"When determining whether a Shareholder holds the requisite number of Shares in order to be classed as a Qualifying Shareholder, the Company's registrar will only look at the registered holding of the Shares on the Record Date (being the close of business on 24 September 2018). As the registered holding is ascertained by reference to the nominee name which appears on the Company's share register, whether or not a Shareholder is a Qualifying Shareholder shall be determined solely by reference to the holding of the Shareholder whose nominee name appears in the share register. The Company's registrar will not look through to any beneficial holdings of Shares."

ie the 75k limit is per nominee a/c, be that iii, Selftrade, HL etc, not per individual shareholder. "The company's registrar will not look through to any beneficial holdings of shares".

Also posted that I'd spoken to the co to try to get them to change tack, but wasn't happy with the answer. Come to think of it they didn't even respond to my final email.

Shouldn't take months to get LONE though - and can always spreadbet against them if concerned where the price is going. Not sure what happens to those whose broker can't take US shares.

Been unimpressed by the endgame in EFR, despite doing well on it. (Even those ending up with LONE in nominee a/c should still do OK).

[kenmitch] 01/11/2018 18:08

iii are not paying out the 54.7p to shareholders owning fewer than 75000 shares. Instead they have lumped those of us holding fewer than 75000 shares together ....which means ALL those who bought EFR via iii are going to get Lonestar shares. Even worse they say it could take months before Lonestar shares are credited to their clients accounts.
Have other Brokers done this as well? i.e has anyone holding less than 75000 in a nominee account received the cash pay out? Or is iii yet again out on a limb?

[psync] 16/10/2018 10:51

Noticed the cash payment landed in my IG share dealing account this morning to the tune of 54.764647 pence per share.

For tax purposes this should count as a disposal right?

I'm having trouble deciding what to buy now given that everything I own seems to be going down the pan lately. Maybe I should stick it back into EGL.

[topvest] 11/10/2018 21:09

A little disappointing to only get 54.7p versus the 64p flagged. Presumably they sold these a week or two back rather than in the last few days, when selling anything would be very unwise?

[spectoacc] 11/10/2018 13:21

@psync - I reckon that's more secure (tho never say never), since it's calculated on what they've (in theory) largely agreed already, & not reliant on a listed shareprice.

To be fair, they may not have been able to dribble out LONE as per my suggestion, without alerting the market via Holdings RNS's (or Nasdaq equivalent). They could, however, easily have offered the LONE shares to those EFR holders who wanted to take the shares in specie.

[psync] 11/10/2018 13:01

IG stockbrokers informed me that they expect to receive cash for this by early next week. Agree with cashing out early in this instance, it would have saved some hassle especially as I only have a small holding. I wonder if the "further payment of 22.1 pence per Share" will be similarly reduced if/when it should materialise.

[spectoacc] 11/10/2018 06:58

@Linhur - should still be a profit in it, but tend to agree. Was very disappointed with the co's ignorance when I spoke to them re nominee holders, & also disappointed with the whole process of "announce we're going to sell them in the market weeks in advance", rather than dripping out the amount they thought they'd need to sell.

Wasn't rocket science - if the vote didn't go through, they'd still have had to sell them. Also not rocket science that many UK holders (which I bet is 90% of the individuals who hold, post-ECWO, and considering where EFR was listed) won't be able to hold/won't want LONE.

[linhur] 11/10/2018 04:20

54.7p then as per late RNS, Disappointing. Looks as though PE boys took the extra money from the small punters in the final days.

Something to remember for next time. On winding ups take the money at earliest opportunity.

[topvest] 10/10/2018 18:39

Normally a 14 day lag, but should be soon I guess.

[pejaten] 10/10/2018 17:37

Well you are spot on... still wait to see whether I was the only shareholder under the nominee account.

[pejaten] 09/10/2018 18:10

Nope. Nothing. Do not even though whether I count as small shareholder or because I hold through nominee will get lonestar shares

[linhur] 09/10/2018 12:43

Anybody had any money yet? it was supposed to have been paid out as soon as possible after 24 September EGM. Liquidators holiday fund!!

[kenmitch] 03/10/2018 11:05

looloo1. Did it the obvious way by asking them. It should have been announced as soon as they knew. Don't know why they didn't do that nor why they still haven't. It can't affect the share price now they have delisted.

Hope Spec is right about good chance of them getting 22p for the other two, but suspect they might disappoint on that too, and possibly a long wait for that money.

Spec. "50p of GRIW?" I bought them for 9p and as posted, as a long term lockaway that will rocket on good news from GRIW... either Government policy when announced not affecting them much or any other positive news. Both share and warrant are unchanged since I bought and both will probably do little until more news.

As I explained on GRIO thread the key plus for the warrants is that they will massively outperform the share if the share does well.

e.g share only has to go up 10% for the warrant to double and if share goes up 20% the warrant will triple.

So instead of tying up a lot of money in the share I've got a modest warrant stake 20000/ £1800 worth which will make far more profit than a £10000 stake in the share.

e.g if share goes up 20% then £10000 stake gives £2000 profit

But my £1800 warrant stake will go up to £5400 for £3600 profit.

So the warrants are a no brainer .... as long as the share goes up before the warrants expire in 2022.

Of course the negative for both share and warrant would be bad news. Even then the warrant is the better bet as I'll lose no more than if taking the loss on a much larger share stake.

Warrant holders do miss out on the good dividend. Will happily accept that if share does well in time.

[looloo1] 03/10/2018 09:45

hi, just wondering how you know the details of the specific price and timescales on LONE payback, there isn't anything on the Ecofin website that I can find?

[spectoacc] 03/10/2018 06:52

And at a time when oil has risen over 10% - LONE is probably the long now.

Assuming they get c.22p from the other two, will still be c.77p return, tho that's a lower NAV than 2 years ago for eg.

@kenmitch - how's your 50p of GRIW?

[kenmitch] 02/10/2018 19:24

Indeed a lousy price. Non qualifying investors can expect to get 54.77p within the next 10 days. Instead of selling when Lonestar price was high and around $10 they decided to shout from rooftops about selling so that Lonestar price reacted accordingly and sale was under $8.

[spectoacc] 28/9/2018 06:45

Agreed - but - was meant to happen sooner than this, so is this in fact people selling their in specie shares? I have no idea, and no longer any reason to ask the co.

[pejaten] 28/9/2018 00:05

Over 1,000,000 traded so guess they have been sold, but at lousy price.

[spectoacc] 27/9/2018 15:57

A little more volume on LONE, out of interest. Still awaiting something - anything - from former EFR management.

[spectoacc] 27/9/2018 14:04

Really surprised at silence - but Thurs is usually NAV RNS so maybe they'll finally get something out. By now I'd expect the necessary LONE shares to have been sold, and the in specie transfers done. Transferring before selling would be bad news - any holders who wanted out would create selling pressure, effectively "front running" the smaller shareholders.