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PCFT Polar Capital Global Financials Trust Plc

0.40 (0.28%)
08 Dec 2023 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Polar Capital Global Financials Trust Plc LSE:PCFT London Ordinary Share GB00B9XQT119 ORD 5P
  Price Change % Change Share Price Shares Traded Last Trade
  0.40 0.28% 140.80 512,353 16:35:15
Bid Price Offer Price High Price Low Price Open Price
141.00 141.60 141.60 140.60 141.60
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Investors, Nec 12.08M 5.45M 0.0194 72.89 397.24M
Last Trade Time Trade Type Trade Size Trade Price Currency
16:35:15 UT 7,384 140.80 GBX

Polar Capital Global Fin... (PCFT) Latest News (3)

Polar Capital Global Fin... (PCFT) Discussions and Chat

Polar Capital Global Fin... Forums and Chat

Date Time Title Posts
15/9/202313:10Polar Capital Global Financials Trust PLC - a new financials investment trust98

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Polar Capital Global Fin... (PCFT) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2023-12-08 16:35:15140.807,38410,396.67UT
2023-12-08 16:19:50141.401,5002,121.00AT
2023-12-08 16:08:59141.5513,62519,285.51O
2023-12-08 15:52:19141.60370523.92O
2023-12-08 15:31:07141.608,50012,036.00O

Polar Capital Global Fin... (PCFT) Top Chat Posts

Top Posts
Posted at 08/12/2023 08:20 by Polar Capital Global Fin... Daily Update
Polar Capital Global Financials Trust Plc is listed in the Investors, Nec sector of the London Stock Exchange with ticker PCFT. The last closing price for Polar Capital Global Fin... was 140.40p.
Polar Capital Global Fin... currently has 280,930,000 shares in issue. The market capitalisation of Polar Capital Global Fin... is £397,235,020.
Polar Capital Global Fin... has a price to earnings ratio (PE ratio) of 72.89.
This morning PCFT shares opened at 141.60p
Posted at 07/3/2022 12:09 by spectoacc
Bought PCFT for the first time today.

Seeing a lot of funds I like, but having great difficulty working out latest NAVs, with the markets so fast. What can look cheap can turn out to be trading at a premium.

Expect to add to it on further falls.
Posted at 04/3/2022 10:24 by spectoacc
Not quite so nice now.

Got a list of targets (bit like the Russian kill list, only without death and lies), but struggling to see how relevant it is now the world has changed. Things like JMAT, PCFT, MNG, LGEN.

Have bought none of them so far (other than a residual JMAT holding).
Posted at 11/8/2021 11:00 by zzaxx99
Conversion rate has been announced

"On the basis of the Conversion Ratio, a holder of 1,000 C Shares will receive 627 new Ordinary Shares upon Conversion"

Should convert on Friday 13th

Makes the effective purchase price of PCFT as £1.59, which isn't much of a bargain.
Posted at 29/6/2021 20:37 by mach100
August the 5th is the conversion date, the day aftet they go x divi. Price of C shares should move up as we approach conversion if PCFT hold up of course.
Posted at 22/5/2021 14:33 by graysland1
Am I missing something here because I cant see this as being of any real benefit to us retail investors. Firstly in the RNS 3060Y announcement of 12th May "PCFT doc re Issue of C shares under 3.Benefits of Proposal it says "The issue of C shares will not be dilutive on the NAV of ordinary shares. So the position and value of our existing holdings should not change?
Secondly the prospectus states p37 that the initial expected NAV for the C shares will be 98.5p. Elsewhere it says these C share funds and assets acquired from these proceeds will be accounted for and managed separately until the conversion date. These are then converted by reference to their relative NAVS. In an attempt to simply the Conversion Formula can we for purpose of illustration say if the NAVS of the C shares and the Ordinary shares do not change we will simply get 98.5/1.65 about .6 of a newly converted ordinary share. We are starting here at 1.5% loss but will the 2 NAVs really move in sync. The ordinary shares are already fully in the market. If the market continues to move up the as yet un-invested proceeds of the C shares proceeds at least in part seem unlikely to match the ordinary shares NAV at conversion. So we may get even less than .6 at conversion?
Dont forget that we would also be foregoing half or more of the years dividend thats another 1.3% lost. But lastly with up to 500 million news shares in prospect to be issued will the shares soon fall to a discount anyway perhaps more than the average of last year of 5%. With all these issues and unknowns why not buy more shares if you want them at your own timing and control after all many think a correction in markets especially in the U.S may be due .
Posted at 22/5/2021 02:01 by peterbill
The Ordinary Shares are registered with ISIN GB00B9XQT119, and the Ordinary Shares are traded under the ticker symbol PCFT.

The Issue Shares are registered with ISIN GB00BNG2HN26, and the Issue Shares will be traded under the ticker symbol PCFC.

Each class of C Shares issued pursuant to a Subsequent Placing made throughout the Placing Programme will have separate ISINs and ticker symbols issued.

The announcement of each issue of C Shares will contain details of the relevant ISIN and ticker symbol for such class of C Shares being issued.
Posted at 21/5/2021 13:54 by galeforce1
Is there a follower of PCFT out there who can advise on whether or not to take up this subscription offer, closing on June 10th.

It's quite a big discount (£1.00 vs current prices around £1.65), so I'm tempted and I don't want to be diluted. But it means a big re-organisation as I hold these in my ISA where I don't have much cash.

There must be about 200m shares in issue, so if there is a 75% take-up, the trust will increase to a NAV around £450m, which is good. Bigger trusts attract more institutional money.
Posted at 13/5/2021 06:42 by peterbill
Looks like dividends will not be the same for the C shares .... from the document, page 7 ...

If they need to raise capital, I wonder why they did not just do a rights issue?


Subject to the provisions of the Act and the Articles, the Company may by ordinary resolution declare dividends. No dividend shall exceed the amount recommended by the Board. Subject to the provisions of the Act and the Articles, the Directors may
pay interim dividends, or dividends payable at a fixed rate, if it appears to them that such dividends are justified by the profits of the Company available for distribution.

Subject to the provisions of the Act and the Articles, all dividends shall be declared and paid according to the amounts paid up on the Shares on which the dividend is paid. If any Share is issued on terms that it ranks for dividend as at a particular date, it shall rank for dividend accordingly. In any other case, dividends shall be apportioned and paid proportionately to the amount paid up on the Shares during any portion(s) of the period in respect of which the dividend is paid.

Holders of any class of C Shares will not be entitled to receive such dividends as the Directors may resolve to pay to holders of Ordinary Shares.

Notwithstanding any other provision of the Articles, but without prejudice to the rights attached to any Shares, the Company may fix a date and time as the record date by reference to which a dividend will be declared or paid or a distribution, or allotment or issue of Shares, made.

No dividend or other money payable in respect of a Share shall bear interest against the Company, unless otherwise provided by the rights attached to the Share.
Posted at 12/5/2021 17:48 by peterbill
Polar Capital Global Financials has announced details of an open offer. Your account will be credited with a number of entitlements which can be exercised at a fixed price, with no dealing charges, to receive additional shares in the company.

Your account will be credited with 1 basic entitlement share for every ordinary share you hold as of the ex-entitlement date, 12 May 2021. These entitlement shares are expected to be credited to your account on or around 14 May 2021 and this will form your basic entitlement, which will not be subject to scaling back.

You will also be credited with excess entitlement shares which will allow you to apply for shares in excess of your basic entitlement, but excess applications are subject to scaling back.

Each entitlement share can be exercised at a price of GBP1.00 in order for you to receive 1 new ordinary C share.

To view the announcement in full, please copy and paste the following link into your web browser:
Posted at 20/1/2021 11:10 by peterbill
Further to the announcement made on 18 December 2020, Polar Capital Global Financials Trust plc (the "Company") announces that it has today published a circular (the "Circular") convening a General Meeting to be held as a closed meeting at 11.00am on Monday, 1 February 2021 to put forward a resolution to approve the proposal to disapply the pre-emption rights in respect of the 70,375,000* ordinary shares in treasury ("Existing Treasury Shares").

Following completion of the tender offer to shareholders on 29 April 2020, the Company bought back 79,159,235 ordinary shares into treasury with a view to re-issuing such treasury shares subject to investor demand and market conditions.

The Company notes a significant increase in interest in the financial sector since November 2020, which has resulted in a sharp jump in the share prices of financial stocks globally. As a result, there has been a greater interest in the Company's ordinary shares, which have traded at or around a small premium to the NAV per ordinary share since 27 November 2020.

The Board is therefore seeking authority to re-issue all of the Existing Treasury Shares, should the Company choose to do so, without being required to comply with the pre-emption rights in the Companies Act 2006.

In connection with this, the shareholder circular, including the notice of the General Meeting and the proxy form for the General Meeting, have been posted to shareholders today.
Polar Capital Global Fin... share price data is direct from the London Stock Exchange

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