Picton Property Income Ld Share Discussion Threads

[skyship] 20/12/2011 08:24

ASMO - "The ZDP Share's repayment date is the 31 October 2012 and the final capital entitlement is expected to be 76.6 pence per ZDP Share."

[asmodeus] 19/12/2011 18:56

But what about alleged wind-up in October etc., Skyship?

[skyship] 19/12/2011 17:22

ASMO - When IRET (now PCTN) acquired Rugby it issued Zeros (IREZ) as part of the deal. Not many issued & tightly held for their short life. They've never offered sufficient value to be a buy in the secondary market.

[asmodeus] 19/12/2011 16:56

I have just been looking at "splitsonline", and, somewhat to my surprise, found Picton listed there. (I hadn't realised it is a split-capital trust). They say there that it winds up on 31st October next year; is on a discount of 42% and thus a hurdle rate of -61.4%. All this doesn't seem to tie up with loans having to be repaid in Jan. 2013 etc. Please would someone be kind enough to explain, if possible?

[dendria] 14/12/2011 08:22

More director buys - from RNS 14 Dec 2011... On Fri 09 Dec 11 Mr Michael Morris acquired 25,000 ordinary shares at 38.25p and Mr Andrew Dewhirst acquired 5,000 ordinary shares at 38.12p.

[bolador] 25/11/2011 14:38

On the 18th Nov Mr Trevor Ash a director of the co bought 100000 shs of Picton at 40.89p. Hopefully he knew what he was doing although of course he could not act ahead of any refinancing news.
Difficult one this because presumably the banks could hold the co to ransom seeing as how short dated the borrowings are. Hopefully, again we will get some co news on progress rather than an unhappy bombshell later on !

[skyship] 25/11/2011 10:11

These are clearly being badly hit by the global bank de-leveraging. The debts for repayment in Jan'13 can be seen here on p26 in Note 10 to the Accounts:

[skyship] 23/11/2011 10:46

Ivy & Kramch

I've emailed you the report Simon sent us a few weeks back...

This weakness would presumably be resolved if they were able to
accomplish early refinancing, rather than waiting until next year.

[sleepy] 23/11/2011 09:14

Am travelling at present but will see what I can do when I get back on Friday.

[kramch] 23/11/2011 08:40

if anyone has an electronic copy I would appreciate one too;

[Received, many thanks], K

[simon gordon] 22/11/2011 22:02

Hi Ivy,

I don't have an electronic copy any more, maybe if one the guys on thread still have an electronic version they could send you a copy!

[ivy_sood] 22/11/2011 21:46

Hi Simon

Appreciate a copy of the matrix report please

Email address is

Raj.sood@ivy partners.co.uk

[envirovision] 21/11/2011 16:12

put your money where your mouth is why don't you.

[dendria] 21/11/2011 16:12

More buying: From RNS 21 Nov 11.... Trevor Ash, Director purchased 100,000 ordinary shares at 40.95p on 18 November 2011.

[dendria] 16/11/2011 19:06

From RNS 15 Nov 11 - Nicholas Thompson, Chairman bought 26,474 ordinary shares at 41.5p on Thu 10 Nov 11 - not a huge amount (but more than I have!).

[alanji] 31/10/2011 10:45

the Board of IFPT and its advisers have engaged in open and extensive discussions with Picton and its advisers. In addition, an extremely thorough due diligence process was undertaken by both companies.

What a waste of money by both. As Skyship pointed out from the start this was never going to go ahead - not least because there were too many vested interests in it not proceeding.

[hugepants] 31/10/2011 08:47

Offer talks terminated!

[simon gordon] 31/10/2011 07:11

Rosssiddle - 30/10/11:

PCTN...my only view would be to bail if 38/39p goes, but IF it breaks north the 42/43 the risk/reward looks appealing...one bigger pciture chart showing the risk if we go below 39p and a more close up showing opportunity IF we break north

[simon gordon] 28/10/2011 17:28

Maybe next week it can push through resistance at 42p and take a leg up:




Looks like a double bottom, break and close above 42p will break the neck line.

Volume picking up nicely.

[bolador] 28/10/2011 12:37

Bank debt of £202m GBP is repayable in Jan 2013. Has the board given any indication about how this might be rolled over ? Any info gratefully received.

[horndean eagle] 28/10/2011 11:09

Baring knocked out 1.1m yesterday. Now below 1% so won't have to disclose any more. That leaves them with 2.8m to shift. Premier asset management were buying the day before so it could be them back in the market. Shouldn't be too long before overhang has gone.

[alanji] 28/10/2011 10:02

Received OK. Thanks Simon

[simon gordon] 28/10/2011 09:59

Right guys I've sent it again but with an L.

[skyship] 28/10/2011 09:51

Simon - pls post when sent to Alan so that I can remove his email address!

OR - Alan - you post when rec'd...

[alanji] 28/10/2011 09:46

Thanks for your efforts - yes, it is a L for lima not 1 (one). Receiving other emails ok.