Share Name Share Symbol Market Type Share ISIN Share Description
Media And Income Trust Plc LSE:MEI London Ordinary Share GB0009216283 ORD 2.5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 0.01 0.00 0.00 0.00 0.00 - 0.00 01:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
0.0 10.1 8.3 0.0 0

Media And Income Share Discussion Threads

Showing 101 to 123 of 175 messages
Chat Pages: 7  6  5  4  3  2  1
Looks like some people think they are getting a bargain!
Aberdeen Asset managers and the board will want to try to nurse it through, but it really does look as if it would need a refinancing of some sort in order to survive with any decent size. At present there is only a pretty thin layer of assets on top of the bank loans, and the banks have only been patient for as long as they have because of the large volume of cash which the company has kept on deposit. Bank loans total around £105m, and we can expect to see the bank wanting a great deal of this back if there is no refinancing. If they wanted to see the loan down to £30-40m, then there wouldn't be a very interesting trust left, unless new money comes in. Even with the loan down to £40m, at present there wouldn't be enough gross assets to give the banks the sort of cover which they would normally look for. Interestingly the release from the company does not say that the board are investigating a refinancing at this time, and therefore I suspect that the institutions are going to pass on this one for the time being, whilst they deal with more important issues such as GIC, GMM, and one or two others which are in the queue. Things look bleak for MEI at present.
Redsonning, could you give your take on the important issues at GIC and GMM. Thank you
N - I presume that's a general expression of pain, rather than a personal one? You were out of these weren't you?
Do you think it will survive ?
Well... I see we have an announcement by the board, which appears to have noticed that it's in some difficulties. It would appear that the bank would like to see some of it's money back. No doubt this will not have come as a surprise to the correspondents of this thread.
Novision - very nice to hear from you. Yes I remember you made some money here - one of the very few I should think! Hope you continue to do well with the day trading....that's a very dangerous game. I, on the other hand am a patient man as you know....sometimes too patient....
Hi redsonning - all fine here, you also I hope. I was out of these some time ago - at a profit luckily. I'm not looking at ITs at the moment - I think some further lows need to be tested in the market and I'm not a patient investor (big fault!). Just day trading various FTSE shares at the moment. Doing okay but it's a volatile business and you have to be very careful! One small cap I think looks good is TRN - I sold out at 13p, but regret it a bit now. There's a thread explaining it all on the boards somewhere, if you're interested.
Hallo Novision. Hope you are well. The glimmer of hope with this stock is that it still exists at all! This may indicate that there are hopes by the board to raise new funds. However there are still quite a number of other trusts in line. On current numbers I'm afraid that this stock still remains well overpriced (you won't be surprised to hear me say!!). It's not just that the Ords and the Prefs have zero NAV, it's that they are significantly below zero. This means that we need to see quite strong upward movements before we are back to zero. This, together with the difficult structure and environment for raising new funds, means that you can still expect to see it go worse. Are you having success in any other areas?
deeper and down
Redsonning - hit the nail on the head again:- Media & Income Tst - Net Asset Value(s) - Replace RNS Number:0574R Media & Income Trust PLC 6 February 2002 The issuer has made the following amendment to the Net Asset Value(s) announcement released 5 February 2002 at 17.56 under RNS No 0318R. The unaudited net asset values per share should read: n/a Ordinary and not 7.27 Ordinary n/a Pref Inc and not 249.58 Pref Inc as previously stated. Cheers Bill
Someone had the numbers wrong - zero is more correct than the above!
Looks interesting - any ideas BARI?
ABERDEEN ASSET MANAGERS LIMITED announces the unaudited net asset values of the following Investment Trust as at close of business on 04 February 2002: TRUST PENCE PER SHARE SHARE CLASS Media and Income Trust 7.27 Ordinary Media and Income Trust 249.58 Pref Inc Suddenly the ordinary shares have an asset value
currypata kai
ok then , new broker ? what going on ??????????
Another 20k today at 6.5p - does somebody know something which I don't?? Cheap it is. Good it isn't!!
Someone bought 10k at 6.5p - still premature by my standards, but I know I'm a bit of a meany! To be honest I would like to see these down to half the price before they're worth getting involved with. No dividends and no assets for the Ords, with underlying stocks having all sorts of problems in stabilising their businesses, is not exactly an attractive reason to buy!
LOL - so you've bought enough of them now Redsonning? :) Hope they fly ! N
As I predicted, as of 21 Jan the Ords too declined below zero NAV. And yet as the price of the Ords drops it appears that further buyers are being tempted in!! Some people never learn - there seems to be the perception that simply because something is cheap (measured in pence) that it must represent a good prospect for making money. This attitude shows a complete lack of understanding about how value is created in these financial instruments. If anyone is simply looking for something cheap with a much lower spread than MEI, then I suggest you take a look at Europen Growth and Income (EURC)which you can buy at 2p and are currently quoted at 1/2. On this basis a rise to say 8/10 would allow you to quadruple your money!! Wonderful stuff!
Hello Novision - You pass with flying colours! I was being sarcastic - I have none. But always good to hear from you!
Had a little look at EURC and got all excited about a 5p div on a 2p share until I saw it's the Incs not the Capital shares which get it...On the upside you only lose half your money to get in.
unfortunately, thats exactly what I thought we would be down to relying on !!!!
Sage, Your instict is understandable but if you look back you will see that MEI already did this back in May 2001 when it first needed new funds. And this is part of the problem.... because MEI was one of the first trusts, during the severe falls last year, to raise new funds, it unfortunately found that the new investments which it made continued to lose value thus leaving it in the position it is now in. Funds which have restructured later in the year have fared rather better. So far as the holdings are concerned, no doubt the fund manager would believe that she has the balance about right; there is also the constraining factor of trying to continue to generate the income which the trust needs in order to feed the Prefs Incs and the Ords with Divs. Regarding the Institutional shareholders, this sort of spread is not particularly unusual in the Split Caps business. The institutions have a number of other important trusts which they are still trying to restructure before this one gets any further funds. Meanwhile everyone must hope and rely on a significant upward movement in the underlying assets to perform something of a rescue.
Chat Pages: 7  6  5  4  3  2  1
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