Share Name Share Symbol Market Type Share ISIN Share Description
Jubilee Inv Tst LSE:JIT London Ordinary Share GB0032539537 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 30.00p 0.00p 0.00p - - - 0 06:37:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
- - - - 10.93

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Date Time Title Posts
06/2/201417:08Jubilee Investment Trust764
20/6/200316:06Jubilee IT (regen, pipehawk, NWD) bids for NOI (ADVFN, ZOX, EVS)1
14/2/200300:112319.3% up - TODAY!!!!!!!!!!!!!!!!!18

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hendenne: 38p nav WITHOUT stocks held in treasury.......... today's share price s seriously discounted, certain gains at some stage....
hendenne: Yes, it looks to be one of the better bets available today.. NAV 40p vs share price 25p........... suppose there are still lingering worries about the ability of the board to blow it all ....
asparks: if nav is 40p, why is share price only 26p. What's the difference - apologies for my ignorance on this
davidlloyd: I assume that JIT no longer selling OTD, hence the recovery in OTD share price in progress. Hope that JIT have actually held on to few. DL
cityfarmer: Hello Snape old bean, the NAV should be out by 5 today but will be calculated at close on Friday (so before the OTD 90% rise) that said should still hopefully be north of 40p as you note. Share price starting to respond but if OTD keep going expect a JIT share price to be north of 40p this time next week never mind the NAV at 60p+. All down to OTD which is very much the hot stock in a hot sector.
acwill: JIT main investment seems to be really getting it together, a nice rise in share price backed up with a flow of positive news releases. seems like we a have a reason to hold onto JIT shares after all. All we need now is good news from goldspring to get some interest back into this trust. Just hope the markets hold up that long. O2Diesel Secures Access to Major Markets in Brazil NEWARK, DE, Feb. 23, 2005 (MARKET WIRE via COMTEX) -- O2Diesel Corporation (AMEX: OTD) today announced that its Brazilian subsidiary has secured an important distribution agreement in Brazil with ALE Combustives S/A (ALE), the country's sixth largest fuel distributor. Based in Belo Horizonte in the state of Minas Gerais, ALE has revenues in excess of US $1.15 billion and distributes fuel to Brazil's center south, including the states of Sao Paulo, Rio de Janeiro and Parana. This agreement provides O2Diesel with blending and distribution capabilities in these major markets.
acwill: irishelf personally i've been getting out of JIT over the last couple of months but still hold a few as a token of what might have been or what still may be. The share price of their three largest holdings have all been absolutely hammered over the previous months leaving a very sorry NAV. Even the share buy backs dont seem to have any long term effect on the share price. That said, I am still pretty optimistic about Goldsprings future, I think they are a company who will either make it very big or go bust trying - no middle ground. I will continue to keep an eye on JIT and GSPG and will be back in should the situation change. In no way would I go short on them even if it were possible. cheers Andy
britishbear: Jubilee Investment Trust Plc CHAIRMAN'S STATEMENT Introduction Jubilee Investment Trust Plc was incorporated on 7 August 2002 and listed on the London Stock Exchange on 24 January 2003 as an Investment Trust. The Company invests in a broadly diversified range of investments traded on a range of public markets. Its principal objective is to generate capital appreciation in both the medium and longer term, through investments in smaller cap companies, with the potential to grow, and which it perceives as being neglected in current market conditions. The Company acquires its investments by offering businesses the opportunity to exchange their own shares for shares in Jubilee. These companies may subsequently sell or pledge their Jubilee shares to raise development capital. Results and net assets The Company's annual reporting period is to 31 December. The Company made a loss of #952,000 for the period to 30 June 2003 amounting to 6.23p per share. This loss included #94,454 in respect of professional and other fees incurred in connection with the Company's abortive offer for New Opportunities Investment Trust Plc (NOIT). A further sum of #94,000 was incurred in connection with an application by the Company for revised Listing Particulars required partially in connection with the aforesaid offer for NOIT. The costs of flotation outlined in the original Prospectus were estimated to be #400,000 but in the event was only #215,569. Shares issued immediately following flotation were at a price of #1 per share. At 30 June 2003 the Net Asset value (NAV) per share was 87.04p, after taking into account all costs and expenditure during the period of #1,586,302. We are required to compare the Company's performance with an appropriate benchmark and we have chosen the AIM index, on the basis that the majority of the Company's holdings, both by number and amount, are AIM companies. Over a similar period the rise in the FTSE AIM index was 8.7%. It is appropriate to point out, however, that all holdings in the Company's investment portfolio were acquired for the medium to long term and fluctuations in the meantime, in either direction, are not considered to be a significant indication of the eventual success or otherwise of the portfolio's performance. Investment activity The Company's original intention was to build a portfolio with sufficient critical mass to create genuine liquidity in the Company's shares, for the benefit of those companies which had agreed to exchange a block of their own shares for shares in the Company and thus become shareholders in the Company. In late February an approach was made by the Company to NOIT, a similar but larger investment trust which your board perceived as being a perfect fit with Jubilee with a view to a merger. The complicated saga which followed is a matter of public record. Suffice it to say that the offer made by the Company involved protracted discussions with the Take-over Panel, the UK Listing Authority and the NOIT Board and their advisers who initially recommended the Company's offer but then withdrew their support. They then recommended an alternative offer from an AIM listed central European aggregates business, capitalised at #1.8 million, with limited dealings in its shares. The potential complications involved in pursuing matters persuaded your board to allow its offer to lapse. Investment for the duration of the NOIT activity came to a standstill. Jubilee Investment Trust Plc CHAIRMAN'S STATEMENT CONTINUED The Company's share price, which had initially held steady, began to fall in a market with few buyers and at one stage fell as low as 22.5p. This prompted various institutions to start building stakes in the Company's shares. This provided an opportunity for the Company's founder shareholders, and most chose to realise their holdings for cash. These sales has had three critically important consequences:- 1) It became clear to the Company that many smaller cap companies were willing to issue shares for cash at discounts to their current market value, in a way which was fast, virtually cost free and most crucial of all, which would not damage their share price, (as a conventional Rights Issue has a tendency to do). 2) The level of discount to the NAV at which the market would find the Company's shares attractive was established. 3) The majority of the Company's two year lock-in agreements were cancelled early. The Company's share price subsequently recovered and at the time of writing this letter stands at 41.0p. Outlook and prospects At the Company's EGM held on 27 June resolutions were passed approving the Revised Listing Particulars which, inter alia, extend the approval of the UK Listing Authority to the issue of the Company's shares to investors. Since then four transactions involving the issue of 7,147,299 shares have taken place. During the period the Company had authority to borrow up to 15% of the NAV. The protracted offer for NOIT and the consequent cessation of new share issues made it impossible to finalise borrowing arrangements. The Company was therefore compelled to dispose of sufficient shares to generate funds to settle professional fees and running costs which involved selling shares acquired for the long term at substantial discounts to their acquisition cost. It is hoped though that now the Company is moving forward with its investment programme, it should soon be able to put in place banking facilities sufficient to meet all short to medium term commitments. Dividend The directors do not recommend the payment of dividend for the period ended 30 June 2003. Conclusion I would like finally to thank everyone who has been connected with the Company for their support during the period. That the City needs to continue seeking innovative ways of funding smaller cap companies is without doubt. We believe the 'Jubilee model' provides a new and effective method of raising capital while at the same time offering institutional investors a worthwhile investment opportunity. Your board is hopeful that the Company's model will eventually prove to be to the long term benefit of everyone concerned. 25 September 2003 INVESTMENT REVIEW A summary of the ten largest investments held by the Company as at 30 June 2003 are set out below. USA Technologies (NASDAQ) The company, which is ten years old, has invested approximately US$40,000,000 in cashless payments technologies. Its wireless networking systems and services are used by global brands such as Coca-Cola, Kodak, Sheraton and Sony. Goldshore Holdings (ShareMark) The company operates employee benefit and customer loyalty programmes via its own call centre and its customers' internal communication systems. It offers a comprehensive range of products at wholesale prices. Many of its customers are household names with thousands of employees ranging from Sony to Lloyds TSB. Xecutive Research (AIM) The company designed and owns a unique IP assignment management system that provides the fastest methodology of its kind for retained search, delivering a shortlist of candidates to clients in just 15 working days. Using an intranet enables several client decision makers from across the world to be involved in the whole process simultaneously day and night. Digital Classics (AIM) The company operates through two divisions: Iambic and Digital Classics Distribution (DCD). Iambic is a multi-award winning producer of performing art programmes. DCD has the right to a huge catalogue of Opera and Ballet programmes, by way of agreements with Bel Air Media and AOL/Time Warner. Alltracel Pharmaceuticals (AIM) The company is a bio-pharmaceutical research and development business which specialises in medical devices and pharmaceutical compounds to control bleeding and limit or stop cancer and viral proliferation. Hanover Capital Group (AIM) - suspended A team which have been involved in the mining industry in South Africa for twenty years are using a shell company (formerly Tera) to expand by way of acquisitions. Four deals were announced in December 2002. The company's NOMAD resigned on 9 April 2003 and as a result is undergoing a reorganisation, details of which are expected to be announced in the future. Brookvale Group (OFEX) The company solves corporate, individual debt and cash-flow problems as well as providing insolvency insurance. It intends to expand its core business and to accelerate its growth through the acquisition of related businesses. MOS International (AIM) The company brought together three established private businesses providing civil and mechanical consultants, primarily to the Oilfield industry. The Oilfield cycle, currently at a low level, will be the dominant factor in the future performance of the business. European Thermo Technology Group (OFEX) The company has acquired the European rights to operate the Thermo Master Process from ThermoTech, the world leader in organic waste recycling. The patented turnkey facilities, which has taken over 15 years and #120,000,000 to develop, converts waste into valuable animal feed and fertiliser products, within hours. QuikTrak Networks (OFEX) The company QuikTrak is a specialist telecommunications business controlled by QuikTrak Networks Ltd, an Australian listed company. The technology provides secure tracking and data messaging products and services for cars, commercial vehicles, plant and equipment, property and people. Jubilee Investment Trust Plc Page 5 INVESTMENT PORTFOLIO SUMMARY % of Market Value Net Assets 30 June 30 June 2003 2003 #000 USA Technologies Inc. 3,630 26.3 Goldshore Holdings Plc 2,469 17.9 Xecutive Research Group Plc 1,260 9.1 Digital Classics Plc 1,234 8.9 Alltracel Pharmaceuticals Plc 875 6.4 Hanover Capital Group Plc* 833 6.0 Brookvale Group Plc 632 4.6 MOS International Plc 630 4.6 European Thermo Technology Holdings Plc 578 4.2 QuikTrak Networks Plc 556 4.0 Ten largest investments 12,697 92.0 Other investments 2,559 18.5 Total investments 15,256 110.5 Net current liabilities (1,456) (10.5) Total net assets as at 30 June 2003 13,800 100 * Shares suspended. Jubilee Investment Trust Plc Page 6 INDEPENDENT REVIEW REPORT TO THE DIRECTORS OF JUBILEE INVESTMENT TRUST PLC Introduction We have been instructed by the company to review the financial information set out on pages 7 to 11 and we have read the other information contained in the interim report and considered whether it contains any apparent misstatements or material inconsistencies with the financial information. Directors' Responsibilities The interim report, including the financial information contained therein, is the responsibility of, and has been approved by the directors. The directors are responsible for preparing the interim report in accordance with the Listing Rules of the Financial Services Authority which require that the accounting policies and presentation applied to the interim figures should be consistent with those applied in preparing the annual accounts except where any changes, and the reasons for them are disclosed. Review Work Performed We conducted our review in accordance with the guidance contained in Bulletin 1999/4; the review of interim financial information issued by the Auditing Practices Board. A review consists principally of making enquiries of management and applying analytical procedures to the financial information and underlying financial data and, based thereon, assessing whether the accounting policies and, presentation have been consistently applied unless otherwise disclosed. A review excludes audit procedures such as tests of controls and verification of assets, liabilities and transactions. It is substantially less in scope than an audit performed in accordance with Auditing Standards and therefore provides a lower level of assurance than an audit. Accordingly we do not express an audit opinion on the financial information. Review Conclusion On the basis of our review we are not aware of any material modifications that should be made to the financial information as presented for the period ended 30 June 2003. CLB Chartered Accountants Aldwych House 81 Aldwych London WC2B 4HP 25 September 2003 Jubilee Investment Trust Plc Page 7 UNAUDITED FINANCIAL STATEMENTS Statement of Total Return Incorporating the Revenue Account of the Company Unaudited Period to 30 June 2003 Revenue Capital Total #000 #000 #000 Gains/(losses) on investments - Realised - (28) (28) - Unrealised - (440) (440) Administrative expenses (219) - (219) Management fees (171) - (171) Aborted takeover fees (94) - (94) Return on ordinary activities before taxation (484) (468) (952) Tax on ordinary activities - - - Return on ordinary activities after taxation (484) (468) (952) Transfer to reserves (484) (468) (952) Basic and diluted return per ordinary share (pence) (3.17p) (3.06p) (6.23p) The revenue column of this statement is the profit and loss account of the Company. All revenue and capital items in the above statement derive from continuing operations. The Company has only one class of business and derives its income from investments made in shares and securities. The notes on pages 10 and 11 form part this interim report. Jubilee Investment Trust Plc Page 8 UNAUDITED FINANCIAL STATEMENTS - CONTINUED BALANCE SHEET Unaudited As at 30 June 2003 #000 Fixed assets Fixed asset investments 15,256 Current assets Debtors 135 Cash at bank and in hand 1 136 Creditors: amounts falling due within one year (1,592) Net current liabilities (1,456) Net assets 13,800 Capital and reserves Called up equity share capital 1,585 Share premium account 13,167 Capital reserves - realised (28) - unrealised (440) Revenue reserves (484) Total equity shareholders' funds 13,800 Net asset value per ordinary share (pence) 87.04p The notes on pages 10 and 11 form part this interim report. Jubilee Investment Trust Plc Page 9 UNAUDITED FINANCIAL STATEMENTS - CONTINUED CASH FLOW STATEMENT Unaudited Period ended 30 June 2003 #'000 Return on ordinary activities before taxation (484) Increase in debtors (135) Increase in creditors 1,592 Net cash outflow from operating activities 973 Capital expenditure and financial investment Disposal of investments 130 Financing Share issue costs charged against share premium (1,102) Increase in cash in the period 1 Reconciliation of net cash flow to movement in net debt Increase in cash in the period 1 Net funds at beginning of period - Net funds at end of period 1 Major non-cash transactions The Company acquired #15,854,130 of investments in exchange for 15,854,130 10p ordinary shares issued at #1. The notes on pages 10 and 11 form part this interim report. Jubilee Investment Trust Plc
silentaction: Net Asset Value at the close of business on 19 September 2003 was 113p per share up from 103p. (JIT share price 39p)
britishbear: Something has flown up in vlaue - NAV now 95p compared to NOI's NAV of 63p. JIT share price 25p, NOI share price 30p (mid). What is the story? JIT must be worth a punt. Massive discount to NAV
Jubilee share price data is direct from the London Stock Exchange
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