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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Ortus Vct | ORT | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 25.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 25.00 | 25.00 |
| Top Posts |
|---|
Posted at 19/12/2012 13:44 by rivaldo Looks like other people are too tiltonboy!I really can't believe ORT aren't going to release an RNS about the sale of Vyre. The market reaction to the news quietly slipping out says it all about the market-sensitivity of the transaction. |
Posted at 18/12/2012 11:54 by rivaldo Exactly tiltonboy. So ORT have likely received around £2.7m, against an almost £8m m/cap, making around £3m cash in total given the £330k in hand at the interims.Quite significant news I'd have thought, even with no particular surplus/deficit on NAV. Surely news that the market should be aware of at the very least? Good news anyway. |
Posted at 18/12/2012 09:31 by tiltonboy I have just spoken to the Ortus VCT managers who deemed it unnecessary to make an announcement as it had no effect on NAV i.e it was sold at carrying value.Firms up the attractive features of ORT. |
Posted at 18/12/2012 08:52 by rivaldo Well well.....Vyre has just been sold:Can't see a price anywhere on the web. If there's no material difference to NAV perhaps ORT have decided it doesn't need announcing, but surely this is such a material event either way that it has to be announced? Even if the acquiror wants confidentiality on price, surely Stock Exchange rules demand that such info be released immediately if market-sensitive? |
Posted at 01/11/2012 10:57 by tiltonboy Alan,The deal is being done on a NAV to NAV basis, so with MAV4 trading on a discount of 5%, I am hoping that ORT will be the equivalent of 30p. I picked some up at 20p this morning...but not enough. |
Posted at 01/11/2012 07:38 by rivaldo Yep, that's excellent news if the merger is to be at 33.4p NAV.The discrepancy re Espresso is extremely odd. If I was cynical I'd suggest that ORT's downwards valuation was a mechanism for keeping the NAV down. Valuation is of course a subjective exercise, but there does seem something wrong here. Does anyone have contacts at ORT to get more info about the Espresso valuation as it makes quite a difference? |
Posted at 02/10/2012 05:58 by timbo003 Hi SBPMaven manage 7 different VCTs, as I suspect you aleady know: Ortus, Talisman and Maven Income and Growth 1,2,3,4 and 5. I hold shares in Ortus, Talisman, Maven I&G 2, 3 and 5, so I take a close interest. The Manager has publicly stated (at the Ortus AGM) that it is now Maven policy to encourage the BODs on their VCTs to conduct so called "enhanced buy backs" or EBBs for up to 15% of the issued share capital. This is where the VCT will offer shareholders an opportunity to sell their shares back to the VCT at the net asset value and then the company reissues new shares from the proceeds at net asset value (plus circa 3%). The end result is that the shareholder will lose around 3% of his or her shares but in exchange will receive a tax certificate worth 30% of the value of the new shares (based on net asset value, not market price), if a shareholder can repeat this process every 5 years, it is like receiving a 27% special divi every 5 years on top of the normal divis. So far, 3 of the 7 Maven managed funds have announced plans regarding EBBs: Maven I&G5, Maven I&G3 and Ortus (confirmation required), I think there is a reasonable chance that within the next 2 years that Talisman will have an EBB, or they will merge with another Maven VCT and the merged VCT will do an EBB. Whatever the outcome, I think there is an odds on chance that the huge discount to NAV (currently 50%) will narrow to around 15%. I also think there is a very good chance that they will start paying a divi of around 1p - 1.5p / share (the manager has more or less stated that this is likely to be the case) So, if you are a glass half full sort of investor, and have a 5 - 6 year investment horizon, the investment case could go something like this: * Buy 10,000 shares for £2,500 * Wait for a tender offer * Tender shares at 50p/share * Receive tax certificate worth £1,500 * Collect divis for the next 5 years (5 x 1.5p) of £750 * Net investment at this stage: £250 then should you so wish * Sell shares after 5 years for £4,120 (i.e. NAV - 15%) * Net profit £3,870 This sort of strategy has been discussed at length over on the TMF VCT discussion board for Maven Income and Growth 5 (which trades at a narrower discount to Talisman, so arguably less attractive): There are also current discussions on TMF for both Ortus and Talisman, where the merits of EBBs are also discussed: Hope this helps |
Posted at 18/6/2010 14:47 by gelp Ok done it thanks.remember you rivaldo few years ago as i went in and you wisely did not as went from bad to worse .the gtw management and previous showed very poor judgement. my hope is for a growing tax free divi at some stage and growth.That is what the experienced new team intend. i rashly picked up a few more at the lows as well! |
Posted at 10/6/2010 11:08 by rivaldo Hi Gelp. I've also been here since the old GTW days and bought a few more ORT around the lows. The discount to the 43p NAV is very large, but their largest unquoted investment, Vyre, appears to be doing very well, at least in revenue growth terms:By the way, could you put charts and fundamentals in the header? A link to the web site would be good too: |
Posted at 10/6/2010 09:24 by gelp Million shares traded last few days is definitely not the normI wonder if Managers are buying back further shares. They did last year. VCT's are not your normal liquid stock but a merger again could reduce the spread, risk and management %. Or if dividend can be created giving (I believe) tax free income. Note original ipo price for AGL was 100p and the estate generally shows some established stocks well below start values. Gateway alone as VCT started life at 100 p with e technology and despite appalling performance for many years had a core of stock punished in the down trun. Vectura is one.OMG another. There is a very wide spread of risk of comopanies that have stood test of time now rather than a new VCT which are pure speculation. |
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