Great Portland Estates Share Discussion Threads

[goldthorpe] 07/6/2007 13:48

4 JUNE 2007, PART-DISPOSAL OF FTSE OPTION,
"Graphite Enterprise Trust PLC (the "Company") announces that it has today sold
25% of the FTSE 100 call option....This part-disposal followed a fall in cash and near-cash balances and an increase in the exposure to the FTSE 100 Index provided by the Option...."


Good timing methinks.

[thedaidai] 06/5/2007 09:24

Very happy with the new strategy But I have to say most/all of it could/should have been in place at least a year ago.
It was obvious then that GPE had become effectively a "fund of funds" plus an underperforming lump of cash and Graphite Capital were creaming off 1.5% just for picking the funds and holding the cash.
Glad to see the buy-back announcement but again it could/should have been done a year ago.
The FTSE option has done well but I would still have preferred them to return excess capital at the time and let me decide how to invest it.
Still happy to hold a much smaller percentage of my portfolio in this than was the case when this was a real venture capital trust.

[goldthorpe] 03/5/2007 15:03

Big share buy-back programme too. That's what's probably caused the share price uplift?

[18bt] 03/5/2007 12:26

New investment strategy announced with far greater emphasis on funds and changes to Graphite's remuneration. Also new NAV of 465.6 on new share price up 16p, this is a discount of 6.7% probably about right now.

[nil pd] 23/3/2007 04:02

Excellent progress and pleased with the NAV and dividend. Not at all surprised by the recent share price fluctuation, given the FTSE call option.

Better than messing around with AIM trash.

[nat7] 16/3/2007 16:34

it does seem to have a bit of upward momentum over the last couple of days - maybe the discount to NAV is starting to narrow

[goldthorpe] 16/3/2007 16:26

True, but they do value the investments quite conservatively.

[nat7] 16/3/2007 14:40

i was hoping for more - it only just beat it's benchmark.

[goldthorpe] 16/3/2007 14:31

Results out. End 2006 NAV 454.6p, up 14%. Better than I thought.
Divi increased to 6.5p. We still have a double digit discount.

[goldthorpe] 14/3/2007 15:26

Me and my big mouth. Spoke too soon.

[netsurfer] 14/3/2007 09:20

together with Hg capital, it is one of my better investments

[goldthorpe] 14/3/2007 08:58

Price holding well in the current market rout despite GPE holding the FTSE Call Option. I wonder if it's been sold?

[goldthorpe] 12/3/2007 08:04

2006 results must be out in the next 2 weeks. Guesses at Dec 2006 and current NAV?

[nil pd] 10/3/2007 22:49

400p breached. Onward and upward hopefully, certainly a good sign chartwise.

[nil pd] 14/1/2007 22:20

What we need at the top of this are graphs! (I hope this worked - it shows the nice cup+ handle on the way up back in 2005).

EDIT: didn't work - will try again.

EDIT2 : Yay! worked second time...

[goldthorpe] 12/1/2007 13:20

edited 17/01/2007 to correct mis-calculation:

Based on last announcement of total assets of 363.1M (30/09/2006 valuation) with 80,655,718 ahares is issue, and about 12.9M spent on buy-backs since valuation, nav must now be about 434p/share. Take it up to say 2.5% to 445p at end of 2006, and we now have a discount of perhaps 12%.

[nat7] 10/1/2007 17:43

3,250,000 shares traded today - looks like they have bought some more shares back. At this rate there will be none left in the market soon

[Abuse team] 05/1/2007 12:43

Post removed by ADVFN

[goldthorpe] 05/1/2007 12:41

'Rich pickings in private equity', Investors Chronicle, p.111, 5 Jan 2007.
(for subscribers)

The current international interest in private equity creates opportunities for investors to profit. However, you must be aware of the risks and understand the type of exposure you are taking before you attempt to jump on to the bandwagon...

...Mr Elliott comments: "Where they do seem to offer value, there is invariably an issue." He points to Graphite Enterprise, which trades on a discount but has 44 per cent of its portfolio in cash. Regardless of discounts, his recommended private-equity investment trusts on performance grounds are HgCapital and SVG Capital.

Mr Gilligan suggests holding between 5 and 10 per cent of your portfolio in private equity. He recommends Graphite Enterprise, as "a team that's managed the cycle very well", and Dunedin Enterprise, as "a value play".....

[nil pd] 22/11/2006 12:17

425.5p NAV


RNS Number:4831M
Graphite Enterprise Trust PLC
22 November 2006

ANNOUNCEMENT TO STOCK EXCHANGE



GRAPHITE ENTERPRISE TRUST PLC



22 November 2006




The Board of Graphite Enterprise Trust plc announces that the net asset value
per share as at 30 September 2006 was 425.5p. This represents an increase in
net asset value per share of 6.8% over the net asset value per share of 398.4p
at 31 December 2005 and compares with a rise of 7.1% in the FTSE All-Share Index
in the same period.

The summary balance sheet as at 30 September 2006 is set out below:

#m % of total assets
Investment portfolio 195.3 53.8%
FTSE 100 Call Option 25.5 7.0%
Total portfolio 220.8 60.8%
Net current assets 142.3 39.2%
Total assets 363.1 100.0%


The Company was effectively 90.0% invested as a percentage of total net assets
at 30 September 2006 (30 June: 85.4%), taking into account the effect of the
option.

In the three months to 30 September 2006, additions to the investment portfolio
were #24.9 million (year to date: #67.1 million), and disposals were #9.6
million (year to date: #67.0 million). There were no new commitments to funds
in the three month period, and outstanding commitments at 30 September 2006 were
#163.4 million. A number of fund commitment opportunities are currently being
considered.

The Company will not make a special dividend payment in 2006 but it is likely
that there will be an increase in the final dividend.


This information is provided by RNS
The company news service from the London Stock Exchange
END

NAVILFFTLRLLFIR

[goldthorpe] 17/11/2006 12:47

Stream of buys just now with 398-400p spread. Might close over 400.

[purse] 17/11/2006 11:15

400p BID Whoopee !!!!

[nil pd] 17/11/2006 10:34

400p offer now. Bring it on!

[goldthorpe] 16/11/2006 11:16

I'm reasonably happy about the investment in funds because it's giving us small people access to the larger private equity deals and so a larger spread of investments, albeit at a price of an extra layer of costs. Remember there are commitments to the in-house fund, Graphite Capital Partners VI. A few more Maplin and Wagamama would be nice though!

Graphite Capital appear to me to be a fairly cautious operation. I mentioned in this thread a while ago an acquaintance who is a retired business owner and did a due diligence for them a few years ago. He was impressed with their approach and the type of questions they asked about the business.

I've never sold any of my GPE holding (which is quite large) and don't intend to for a few years apart from crystallizing a capital of a block bought in a dealing account in 2003.

Thanks for the thoughtful input 'Nil Pd', '18BT', 'thedaidai' et al.

[thedaidai] 15/11/2006 19:48

I sold about 70% of mine 6 months ago because I thought they had shifted strategy from investing in individual companies to investing in funds. I found it much harder to research the performance of the funds and their underlying investments. Still think GPE is an OK share to hold but wanted more control over my investment. Haven't regretted the move.