Empiric Student Property Share Discussion Threads

[thewheeliedealer] 16/10/2015 21:16

Hi jonwig, thanks for the feedback - my Website is still relatively new as it's just coming up to a year since I started it and I got involved in all that Twitter stuff - been an interesting journey.

My plan this Winter is to restructure the Website with loads more pages and make it easier to use - as usual it's finding the time to do everything !!

cheers, WD

[jonwig] 16/10/2015 07:21

Wheelie - New one for me - interesting reads there, thanks.

[thewheeliedealer] 15/10/2015 22:21

Hi everyone,

There's a link to this in the header but I know some people miss this. Anyway, I bought a few ESP recently and I produced this Blog to give a good overview of what it's all about complete with my thoughts on Valuation and likely Targets.



Hopefully it should particularly help anyone who is not really clear on the business model,

cheers, WheelieD

[toe-rag] 15/10/2015 21:54

Stamp duty is payable or was last time I made a purchase

[jonwig] 15/10/2015 20:31

It's on p52 of the 316-page prospectus:

Transfers on sale of Shares will generally be subject to UK stamp duty at the rate of 0.5 per cent. of the consideration given for the transfer. The purchaser normally pays the stamp duty.

I believe all transfers of REIT shares are liable to stamp duty. (I know what you mean about CI-registered shares.)

[a0002577] 15/10/2015 19:34

Are you sure there is 9.5% stamp duty on Empiric, Jonwig?. It's registered in the channel islands.

[jitters3] 15/10/2015 09:40

Thanks for your input guys I am going to take the subscription offer of 106.5 looking to hold long term here just need to stop myself taking a small profit as I sometimes cant resist hitting that sell button just to see further rises after

[jonwig] 15/10/2015 09:19

Collecting the dividend lowers the gap between current share price and price of new shares.

Anyone selling to re-invest in the new runs a risk of the offer being oversubscribed. On the other hand, why buy the existing when you'll pay brokerage and 0.5% stamp duty?

[soundbuy] 15/10/2015 09:00

Ex-divi I presume.......

[scottishfield] 14/10/2015 14:11

I assume you meant the 'offer of Subscription' jitters3. Any one any views on whether/hw much to take this up etc? (holder also)

[jitters3] 14/10/2015 13:30

Yes i bought at 109 yesterday and was offered 106.5p via Halifax sharedealing today

[1861andy] 12/10/2015 15:07

I think Robbie brought around £1.07 from his website (expect he took the rights at £1.05 as well)

I got the offer from my broker today (who at first told me min 10,00 shares). I do wonder whether the share price will drop towards £1.0650 as before last issue it did drop a little before it went up again.

Good investment long term with the dividends its paying

[jonwig] 12/10/2015 14:40

jitters - you can apply for £5,000 and up (from memory) in the open offer at 106.5p.
Of course, unless you use one of the listed intermediaries it will come outside an ISA and your yield will be lower.

Since I've no ISA funds free, I thought of applying for some, getting a certificate and bed-ISA them next April. Or selling them for a small turn!

[jitters3] 12/10/2015 14:16

Looking to take a position here thought the daily mail article would have given a boost to the share price today . I believe Robbie Burns has recently bought in does anybody know his buy price

[saj3] 11/10/2015 08:27

Might give them a boost

[jonwig] 10/10/2015 06:36

Jack - everything I've read suggests you're right. Inside an ISA you'd still get the full 1.5p or whatever the declared amount is.

[cousin jack] 09/10/2015 23:53

Jonwig: Just so I am clear....if I continue to hold in an ISA next year I presume the dividend tax will not affect me as the provider will reclaim in full for ISA holders but net of tax for holders outside an ISA?

[saj3] 08/10/2015 17:34

Thanks jonwig

[jonwig] 08/10/2015 15:07

saj3 - it's paid partly as a PID, partly as an ordinary dividend.

Total 1.5p.
Ordinary part: 0.775p is what you get, ISA or not.
PID part: .... 80% of this (0.58p) is paid, 20% (0.145p) is tax. The tax is reclaimed within an ISA or SIPP by your provider.

Regarding the tax reclaim, some brokers reclaim it (eg. TDD, takes a few weeks) and others just pay the full gross to you (eg. Charles Stanley). Some cheapskate brokers will try to dodge their responsibilities and say you have to do it yorself. Don't stand for that!

All change next year with the dividend tax!!

[saj3] 08/10/2015 09:16

Because it says it's paid as PID?

[saj3] 08/10/2015 09:15

Do we get paid the full divi?

[jonwig] 08/10/2015 08:40

R Ball - good question, and the answer is probably yes. However, propcos will always want to issue new shares when they can get them away above existing NAV, leaving new debt for the day they can't do this.

Current LTV is 26%, and their target is 35% (max allowed in articles is 40%), so debt issuance isn't constrained.

[r ball] 08/10/2015 08:10

Why the share issue? Would debt finance be cheaper than equity?