Nb Global Monthly Income Share Discussion Threads

[tiltonboy] 15/2/2023 15:40

The company state that it may take a couple of years to sell the more illiquid holdings!

[bazz123] 15/2/2023 14:01

Can someone explain what's happening to a newbie please? I bought a lot of shares last week in NBMI, since I was looking for a monthly return stock. I didn't do enough research, I didn't know they were in 'wind down'. What does this mean, and should I be selling asap, are they going bust? thanks.

[cc2014] 27/1/2023 13:01

221m shares in issue and 101m vote for the resolution.

I find that quite surprising that so many funds would want to wind this up.

I fear for many other IT's

[cc2014] 25/1/2023 08:32

Nice, I find the GBP 0.009 written in such a way I have to double check it over and over.

Well nearly a penny extra dividend which is almost double the usual monthly 0.54p.

So on a running annual basis that puts the dividend at 7.38p or 9.9% based on a share buy price of 74.5p this morning.

Wtf do funds want to wind this up and get their money back? It's utterly beyond me.

[cwa1] 25/1/2023 07:13

Dividend Declaration

The Board announces an additional interim dividend, totalling circa. GBP1.995 million, equating to GBP0.009 per Sterling ordinary share in respect of the Company's Excess Reportable Income ("ERI") for the 2022 Financial Year. The Board will keep under review the declaration of a further interim dividend from the Company's ERI in respect of the 2022 Financial Year following the conclusion of the 31 December 2022 year-end audit.

The dividend will be payable on 21 February 2023 to ordinary shareholders on the register as at close of business on 3 February 2023.

The dividend timetable is set out below:


Ex-dividend date 2 February 2023
Dividend record date 3 February 2023
-----------------
Ordinary Shareholders dividend payment date 21 February 2023

[cc2014] 20/1/2023 11:54

Reminder last day to vote (against maybe) with wind-down proposal with AJ Bell

[nickwild] 16/1/2023 19:32

CC2014

Exactly what I said on 3rd January.

Nick

[cc2014] 16/1/2023 14:05

HL have have introduced a new voting system and it's now possible to vote on the propoesed wind-down of this trust.

I've voted all mine against. My reasons are as follows:

1. The Trust would be would up at the worst possible time in relation to the underlying investments as this will happen near the peak of the interest rate cycle.
2. I am very happy to be able to buy more shares in a Trust at a discount of 9%. I am getting more value for my money than paying NAV.
3. The number of IT's of this nature is low so I will struggle to find somewhere similar to put my money
4. If I take BIPS as an example in the same sector this traded for the last 2 years at a discount up to 10%, but with the move to fixed income it now trades at a 2% premium and they have been issuing shares reguarly to stop the NAV rising. I perceive a reasonable chance NBMI could do the same.

So, in summary I think the discount to NAV will close naturally and the recent discount has been all part of the cycle due to moves in interest rates. The loss in fund size is due to the Board being willing to offer redemptions at too close to par and they have caused their own problem.

I would encourage anyone holding to vote.

[cwa1] 10/1/2023 17:12

Decent volume today with a few interesting looking trades

[cwa1] 06/1/2023 13:09

FWIW I've voted my few shares against it this morning too

[cc2014] 06/1/2023 09:08

In my experience the Board will had conversations with the major shareholders beforehand and they will have indicated their desire for a wind-up.

I guess since the share price has fallen some more recently they will be even keener on it now.

On the other hand the fixed income markets have changed over the last 2 months and fixed income is back in vogue.

I have voted against with AJ Bell and I'm awaiting HL to let me do the same.

[cwa1] 06/1/2023 08:40

Decided to join you mob at 72p. Balanced decision as wind-up would take away the major rationale for investing here.

Still, solid yield and discount to NAV 'till we see which way it goes and hopefully investors should get all of their cash back and a little bit more with a fair wind.

Is there any chance the vote could go against the winding up, or does the board here think it's a done deal?

[cc2014] 03/1/2023 18:00

Idiots. I shall vote against.

[nickwild] 03/1/2023 17:39

they are selling off at the bottom of the market.

[marktime1231] 21/11/2022 12:19

The income available must tier down as investments are liquidated. I would have thought that they would be obliged to liquidate and distribute the proceeds swiftly once the decision has been taken, so I can't imagine they will want to continue to churn out dwindling monthly dividends as remaining assets are sold. A pity they have lost enthusiasm, and a pity there wasn't an opportunity to roll over in to another fund.

[8w] 21/11/2022 11:44

I thought this was a pretty good investment, plenty of floating rate and short duration. Credit rating is reflected in the yield. Overall I think I will hang on through the wind down.

[wskill] 21/11/2022 11:20

Hope we have the monthly income paid as well then its a reasonable return.

[marktime1231] 21/11/2022 10:36

Sorry everyone!

Is it worth hanging on up to 24 months in order to realise the gain of approx 6% discount to NAV?

[wskill] 21/11/2022 08:35

Not good for my income portfolio i was hoping to hold this into my dotage this only leaves me with vsl,csh,soho ,av. and hfel which i have in the portfolio any recommendations guys for a replacement.

[marktime1231] 18/11/2022 18:05

I have taken a tiny stake in NBMI today, in case you are on to something here CC.

More risk, but there seems to value and relative reward while priced under 80p.

[bobsdad] 28/7/2022 11:16

I have a relatively small holding of these at an average price of over 80p and given the dividend yield would like to average down my price. Should the cash exit offer and comment that they would wind up the company if it fell below £150M concern me about investing more?