Jpel Private Equity Share Discussion Threads

[budsman] 14/1/2019 14:47

Double post!

Date is per the RNS

[nk104] 14/1/2019 14:45

Have other people received the money for the redemption yet?

[skyship] 10/12/2018 21:01

Hmm - hardly earth shattering. Only the equivalent of a 3.5p dividend!

[spectoacc] 10/12/2018 15:59

JPEL ANNOUNCES FIFTH MANDATORY REDEMPTION
-- REDEMPTION DATE 8 january 2019
-- JPEL WILL RETURN $25 MILLION TO SHAREHOLDERS
-- REPRESENTS 6.9% OF US$ EQUITY SHAREHOLDER NET ASSET VALUE AT 31 October 2018

[skyship] 06/12/2018 20:55

WCB - Thnx for that - but why the reference to changes on 4th December? Doesn't add up...

[westcountryboy] 06/12/2018 19:42

Hi Skyship

Last November they announced an increase in share holding from 44,707,892 to 45,588,852 which was up to 17.29% of the company. Now they are over 18%, at 37,353,621. I haven't done the maths but I assume this means they have been net buyers during the period of the last two mandatory redemptions. And who can blame them?

WCB

[skyship] 06/12/2018 17:20

Can anyone make any sense of that "Holdings" RNS. It refers to the BTEM holding; but I'm unable to discern what they've done!

[skyship] 06/11/2018 13:46

This is what BTEM said of JPEL in their September Report:

"JPEL Private Equity announced a significant write-up (+59%) in its largest position, US municipal waste business Mr. Bults Inc (MBI), for its end-June NAV. It is unusual to see write-ups of this magnitude unaccompanied by a sales process, and further news in this regard could unlock a considerable amount of value given (i) MBI accounts for 19% of NAV (ii) the proceeds would be returned to shareholders under JPEL’s realisation policy, and (iii) that JPEL trades on a 16% discount to our estimated NAV. The net impact of revaluations across JPEL’s portfolio was a +7% increase in NAV over the month"

[skyship] 06/11/2018 13:29

Bought back in for a few @ 1.50 last week.

I see Mr Bults accounts for 20% of the total portfolio; so would be good if they were headed for an IPO. Tilts - has there been some suggestion of such?

EDIT - Just seen yr post on the PE thread; so no need to answer this!

[spectoacc] 17/9/2018 08:13

Surprised they didn't comment on why the rise. Added a few this morning, been gradually losing JPEL with the tenders so good to get size back up a bit.

[tiltonboy] 17/9/2018 08:09

That is some increase in NAV to $1.82.

Hopefully Mr Builts has been primed for sale.

Cash at $16.5m, so hopefully another distribution before end of year.

[budsman] 03/7/2018 10:24

NAV shows a modest increase to $1.71

[budsman] 03/7/2018 10:24

Double post

[skyship] 22/3/2018 07:23

Another redemption - a small one, but nice nevertheless:

JPEL ANNOUNCES FOURTH MANDATORY REDEMPTION:
-- REDEMPTION DATE 10 April 2018
-- JPEL WILL RETURN $25 MILLION TO SHAREHOLDERS
-- REPRESENTS 6.7% OF US$ EQUITY SHAREHOLDER NET ASSET VALUE AT 31 JAN'18

[tiltonboy] 02/2/2018 08:11

NAV down marginally to $1.69, but a good month for distributions with $13.7m coming in from legacy positions. Cash building up nicely to $31m.

Shame that FX is knackering everything up!

[skyship] 15/1/2018 07:33

Estimated NAV/share for JPEL as at 30 Nov'17:

Ordinary Share Class - $1.70

[bscuit] 01/1/2018 22:17

However Charles Stanley Direct seen to take a halfway house. Currently after 3 redemptions they are base valuing my net holding at around 66% of cost rather than the around 34% of cost less redemptions for the rump holding.Apparently it's HMRC rules, tho' irrelevant to me as held in a ISA.

[tiltonboy] 01/1/2018 11:02

It is a distribution of capital, so is subject to CGT if applicable.

[huttonr] 01/1/2018 10:28

This is just a warning note - I hold my JPEL via Barclays and I've just checked the receipt from the December distribution.
The money is effectively a forced sale of shares so should be reported to HMRC under the CGT section - however, the new Barclays system seems to treat it as a dividend. I shall check the end of tax year figures from Barclays but it looks as if they are making an error.

[skyship] 04/12/2017 10:56

...so already well on the way to the next pay-out!

[tiltonboy] 04/12/2017 10:15

Looks like JPEL could have paid out $95m, judging by the October factsheet!

"In addition, during the month JPEL received distributions totaling $11.1 million from the sale of shares of FibroGen. The Company also received $8.7 million from the BoS Mezzanine portfolio and $3.0 million from the Australian portfolio"

[skyship] 01/12/2017 07:21

JPEL has benefitted from a strong level of realisations from its underlying portfolio and the Company has resolved to return a total of $75 million to JPEL US$ Equity Shareholders.

The $75 million capital return (the equivalent of approximately 45.2 million US$ Equity Shares, or 17.1% of US$ Equity Shareholder NAV) will be by way of a compulsory redemption of US$ Equity Shares at a price equal to the prevailing NAV per US$ Equity Share of $1.66 as at 31 October 2017

[skyship] 20/11/2017 15:15

RNS in Header: AVI (ie BTEM) increases its stake from 44.7m to 45.6m shares (17.3%)