40.3% to be more exact,
and a dividend announcement for good measure.
Headline: Declaration of Quarterly Interim Dividends
The Directors have declared fourth quarterly interim dividends for the year ending 31 May 2024 as follows. These dividends are payable on 10 May 2024 to shareholders on the register on 26 April 2024.
The shares will be marked ex-dividend on 25 April 2024.
UK Equity Shares
2.55p |
oh good news, votes have passed. I need to do the calculations but I think if anyone tendered all their shares they will get about 40% accepted at 2% less than NAV. NAV was 197 so the tender price would be 193p although may be less after today. |
Here is the timetable for this week. Tender results today and the Class meeting is tomorrow. I'm hopeful the class meeting succeeds but not confident.
Updated results of Tender Offers announced 15 April
Calculation date for the Tender Offers close of business on 15 April
UK Equity Share Class Meeting 9.30 a.m. on 16 April
Interim dividends announced 16 April, post meetings
CREST accounts credited for revised uncertificated holdings of tendered Shares (or, in the case of unsuccessful tenders, for entire holdings of tendered Shares) 17 April |
A lot more buys than usual today but you'll have to rush if you want to get your votes in. Nominee account holders may have to give their broker's instructions by close of play tomorrow.
I've voted for all resolutions and tendered my full 35,000 shares. |
Top 10 holdings % portfolio
RELX 5.8
Shell 5.8
Next 5.2
BP 4.4
SSE 4.4
National Grid 4.4
Ferguson 3.4
Barclays 3.2
Experian 3.1
Bunzl 2.9
Total 42.6 |
Net asset value is 196p.
I bought more today at a 19% discount. |
If any condition is not satisfied (other than those relating to a Partial Consolidation), the Proposals will not become effective, the Company will not proceed with any of the Proposals and instead will continue in existence with the current Share classes and Articles. In these circumstances, the Directors will reassess the options available to the Company at that time.
There needs to be at least of third of total shares casting a vote. |
What happens if there are not enough votes again? |
Yes. I don't think the total number of votes cast passed a pre-defined threshold.
I'm disappointed but I bought another 9K today on an 18%-19% discount because I see this as a win win. |
Do I understand correctly the tender offer has been reopened and the deadline extended to April 12? |
One the assumption the resolutions pass then anyone buying this now is in effect buying the Global shares. IVPG. |
 Benefits of the Proposals
Your Board believes that the Proposals are in the best interests of the Company and its Shareholders as a whole, and should yield the following principal benefits:
Restructuring
the Global Share Class offers the broadest set of investment opportunities for equity investments whilst also providing diversification benefits for UK investors;
global equity income is a strategy that can provide investors with a steady and diversified income, as well as the potential for capital appreciation and lower risk than investing in a single market or region;
simplification of the Company's capital structure, removing a potential barrier to those looking to invest;
creation of a single share class with net assets of approximately £179.4 million[1], which should facilitate the critical mass needed to attract additional investors;
improvement in liquidity; and
a reasonable expectation of an additional positive impact on the discount to NAV at which the Global Share Class may trade.
Tender Offers
provides an opportunity for the Smaller Share Classes to realise up to 100 per cent. of their investment at close to NAV; and
provides an opportunity for UK Equity Share Class shareholders to realise up to 15 per cent. of their investment close to NAV.
Ancillary changes
the changes to the dividend policy will provide a more predictable level of income for Shareholders;
the introduction of a new discount control policy will help ensure that the Shares trade closer to NAV; and
the introduction of the 2026 Continuation Vote, and subsequent continuation votes, allows Shareholders the opportunity to express their views on the Company. |
I'm buying again at 154p with the NAV at 188p
As part of the conversion to a global oriented trust shareholders can tender 15% at the NAV which is 22% upside from here. |
topped up at 150p compares with net asset value of 180p. Great price |
NAV 182p
This is definitely my favourite UK trust at these prices. I was considering buying an ETF like ISF but what's the point when I can buy this at 152p. |
NAV 180.7p |
Biggest holdings are shell 6.1% and BP 5%. Both well up today. |
major share repurchase
06/10/2023 5:19pm
PR Newswire (US)
HEADLINE: Purchase of Own Securities
UK Equity Shares (IVPU)
The Company announces that, on 6 October 2023 it repurchased 216,856 UK Equity Shares of 1p each at 151.05p per share, to be held as Treasury shares. |
Headline: Declaration of Quarterly Interim Dividends
The Directors have declared second quarterly interim dividends for the year ending 31 May 2024 as follows. These dividends are payable on 15 November 2023 to shareholders on the register on 20 October 2023.
The shares will be marked ex-dividend on 19 October 2023.
Share class
Dividend Amount
UK Equity Shares
1.60p |
05/10/2023 11:50am
UK Regulatory (RNS & others)
TIDMIVPU
Invesco Select Trust plc
UK Equity class Ordinary shares (IVPU)
As at close of business on 04-October-2023
NAV per share (unaudited) with Debt at Par & Fair Value
EXCLUDING undistributed current year revenue 173.27p
INCLUDING current year revenue 174.27p |
Kepler review
hxxps://www.voxmarkets.co.uk/rns/announcement/b77cc4c2-4304-4fbb-a17c-d74238c1e370 |
No obvious reason, just a normal closing of the discount which was excessive. Good to see though. |
Any thoughts on the 10% rise in IVPU today? No obvious reason from RNS or market generally. |
ridiculous spread on this |
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