Henderson Pr Share Discussion Threads

[alanji] 31/8/2012 05:22

Unfortunately my wife has been very seriously ill for some time, was admitted to hospital two weeks ago and she died early yesterday morning at home.

I could not believe the service we received from the NHS palliative care team and the Marie Curie nurses in their efforts to get her home to enable her to pass away in familiar surroundings and the comfort of her own home. We will be having a collection for Marie Curie at her funeral. If any of you have benefited from my postings you might like to consider making a donation to Marie Curie. They provide end of life care for anyone, not just cancer patients as I had previously thought, and their support and dedication was unbelievable. Without this service my wife would have had no choice but to die in a room full of (in her case, well meaning) strangers.

For anyone kind enough to contribute, cheques should be made payable to Marie Curie Cancer Care and sent to Peter Jackson Funeral Services, High St, Henstridge, Somerset, BA8 0RB with a note to say in memory of Lisa Izatt. The funds will be used to support the local charity which looked after Lisa. Last year they funded 49 nurses who cared for 429 patients at home and they need to raise £510k this year to continue at that level - it would be great if we could increase it. This funding enabled many people to spend their last days or weeks in the comfort of their own homes in familiar surroundings.

Thank you to all who may contribute and I wish you success in your investing - but it means not a whit if you have not life and health so get your priorities in the right order.

If you are kind enough to contribute please print out and complete the "gift aid" declaration and enclose it with your cheque to increase the value of your donation with no extra cost to you. https://www.mariecurie.org.uk/en-gb/donate/donatenow/

[alanji] 31/8/2012 05:20

Unfortunately my wife has been very seriously ill for some time, was admitted to hospital two weeks ago and she died early yesterday morning at home.

I could not believe the service we received from the NHS palliative care team and the Marie Curie nurses in their efforts to get her home to enable her to pass away in familiar surroundings and the comfort of her own home. We will be having a collection for Marie Curie at her funeral. If any of you have benefited from my postings you might like to consider making a donation to Marie Curie. They provide end of life care for anyone, not just cancer patients as I had previously thought, and their support and dedication was unbelievable. Without this service my wife would have had no choice but to die in a room full of (in her case, well meaning) strangers.

For anyone kind enough to contribute, cheques should be made payable to Marie Curie Cancer Care and sent to Peter Jackson Funeral Services, High St, Henstridge, Somerset, BA8 0RB with a note to say in memory of Lisa Izatt. The funds will be used to support the local charity which looked after Lisa. Last year they funded 49 nurses who cared for 429 patients at home and they need to raise £510k this year to continue at that level - it would be great if we could increase it. This funding enabled many people to spend their last days or weeks in the comfort of their own homes in familiar surroundings.

Thank you to all who may contribute and I wish you success in your investing - but it means not a whit if you have not life and health so get your priorities in the right order.

If you are kind enough to contribute please print out and complete the "gift aid" declaration and enclose it with your cheque to increase the value of your donation with no extra cost to you. https://www.mariecurie.org.uk/en-gb/donate/donatenow/

[jaws6] 30/8/2012 16:53

HPEQ Half-yearly Report RNS out

Edit
why notemachine is still there or is it because of half yearly till june report ?

[eeza] 24/8/2012 09:24

Suddenly sparked into life.

[jaws6] 24/8/2012 09:19

looks like some one agree with you ,I was hoping to get few more near 358 and did not get it.

[spectoacc] 24/8/2012 07:48

Been away, delighted to see NM finally go, been on the block a long time. Definitely into the endgame now; not sure where final NAV will be what with incentive payment but even assuming only 5% uplift from here, the annualised return becomes relevant when we're now (surely) only months away from final redemption (although I'd expect a couple of million to be left in the co for a few months more, in case of contingencies).

@AlanJI, hope your wife's OK.

[jaws6] 23/8/2012 11:48

small tick up

[badtime] 23/8/2012 11:19

Sorry about your wife Alan...hope its nothing too serious

[jaws6] 23/8/2012 10:52

Alan
Good luck with your wife health.Hope for all the best and take care.
Tks for update.I was thinking same 393 so you are again spot on .
may be we might get another tender soon.They did say before year they will try to give as much as possible ,not to leave too much with other people.

[alanji] 23/8/2012 10:43

Not away but most of my time being taken up with visiting my wife in hospital.

I calculate the nav post tender (using adjusted 31 July nav) to be 394 (370 after incentive) with 288p cash - a 5% uplift on the current 352p share price (tried a dummy buy and sale this a.m. and quoted 360 to buy 1k (max online) and 352.11 for my holding of 8624. Certainly not worth selling at present as downside is now a lot more limited - it would take a 20% fall in non cash assets to reduce the nav below 352p.

If you were to buy at 360 and receive 34% in the tender you would be left with an effective cost per share of 352p so I would not consider them a buy at present.

As always please check figures - amending an existing spreadsheet is always a bit risky and I have not had time to fully check.

[jaws6] 23/8/2012 10:39

So rutland is gone from that

Top holdings (%)
Rutland Fund I 40.6
Parallel 8.9
August Equity Partners I 6.3
Century CP IV 3.5
Evolvence India holding 1.0
Cash 39.6

[badtime] 23/8/2012 10:24

cheers jaws..what other assets to realise? (excuse laziness)

[jaws6] 23/8/2012 10:07

badtime
I have seen note from broker and got no link to post but same as before still there is 9 % to make here plus divi in year with big issue of 40% notemachine been cashed now.May be another tender offer in oct?
You right may be Alanji is away .

[badtime] 23/8/2012 09:49

Alan must be away

[jaws6] 22/8/2012 11:02

Re post 452.I think cash value will be 393 so even if we buy at 358 get 35 p in year .plus small divi.
May be another tender will come after this too soon.
Any new notes out ?

[badtime] 21/8/2012 17:16

with u sky...enough to make me think reducing my holding post tender...now i see no reason not to sell..hopefully they can wrap the whole lot up this year

[skyship] 21/8/2012 15:56

I'm sure AlanJi will number crunch this for us - hope so anyway!

Personally I'm slightly relieved as I was concerned at the very long time it was taking to wrap up the sale of NM.

Still some reasonable upside post the tender though perhaps now no more than 5%-7% - still, worth waiting for rather than selling @ 350p.

[jaws6] 21/8/2012 15:49

Note machine gone .RNS so still cash value 395 if 3% less .Is that correct ?
so still 10% plus upside at today's price on cash of 395 plus

[spectoacc] 09/8/2012 18:35

About 7.4p less than I'd hoped for and I'd accounted for the divi! How come they're using the first figure and not the 2nd one (ie 407p?). Not a lot of point giving us the adjusted fig if it doesn't get used.

Still - 350p to sell in the market, 383.5p back in the tender, that on its own is a c.9.5% uplift, with the remaining shares at much the same NAV afterwards, and the possibility of further upside if NoteMachine goes for a good price (& a good cash cushion if it doesn't).

I'll probably tender 100% again and see how many I get - but unless the price falls, this time I'm unlikely to recycle the cash into more HPEQ. It's into the endgame now.

[alanji] 09/8/2012 16:52

I neglected to deduct the 7.4p dividend when calculating tender price so my figures change slightly.
My new estimate of what the nav will be, post dividend, post tender, based on the July nav, is 411.6pps - 385.4p after deducting the potential incentive fee - which will include about 119p cash. I have not fully checked the figures and amending items in an existing spreadsheet can be tricky.
Not sure I will tender 100% as I presume Sippdeal will not be as generous as some brokers and we would only get a minimal additional amount, like last time. Will decide nearer the time.

[skyship] 09/8/2012 15:49

383.6p - disappointing, but still at a nice premium so naturally will be tendering 100%...

Any update Alan?

[jaws6] 09/8/2012 14:59

Alan
you nearlly right on tender price 383.5527.
RNS out

[spectoacc] 08/8/2012 07:25

Cheers Alan. First time IB's not exceeded estimations, but highly incentivised to realise as much as possible, so personally I'm glad to see him offload this rather than hang on to it to the bitter end (ie when NoteMachine finally goes).