Share Name Share Symbol Market Type Share ISIN Share Description
Polar Capital Technology Trust Plc LSE:PCT London Ordinary Share GB0004220025 ORD 25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  24.00 1.64% 1,490.00 1,484.00 1,486.00 1,488.00 1,466.00 1,466.00 186,457 16:35:13
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 13.1 -4.5 -4.7 - 1,993

Polar Capital Technology Share Discussion Threads

Showing 176 to 198 of 275 messages
Chat Pages: 11  10  9  8  7  6  5  4  3  2  1
DateSubjectAuthorDiscuss
02/3/2014
17:31
From the PCT circular: "Polar Capital Technology Trust plc 13 February 2014 To the holders of Subscription Shares in the Company (the "Subscription Shareholders") OPPORTUNITIES TO EXERCISE YOUR SUBSCRIPTION RIGHTS 31 MARCH 2014 IS THE FINAL SUBSCRIPTION DATE AFTER WHICH THERE WILL BE NO FURTHER OPPORTUNITY FOR YOU TO EXERCISE YOUR SUBSCRIPTION RIGHTS.... Option 3: Take no action Holders of Subscription Shares could alternatively take no action, in which case the Subscription Rights will lapse. The Company will (as described below in "Appointment of a Trustee"), within seven days following the Final Subscription Date (by 7 April 2014), appoint the Final Subscription Trustee to exercise as many as possible of the outstanding Subscription Rights and sell in the market the Ordinary Shares resulting from such exercise and the Final Subscription Trustee will then distribute pro rata the proceeds of any such sale less any costs in accordance with the Company's articles of association.... Appointment of a Trustee The Company shall appoint the Final Subscription Trustee who, provided that in such trustee's opinion the net proceeds of sale after deduction of all costs and expenses incurred by such trustee will exceed the costs of exercising the Subscription Rights, shall within the period of 14 days following the Final Subscription Date (by 14 April 2014), exercise Subscription Rights which shall not have been exercised on the terms on which the same could have been exercised on the Final Subscription Date and sell in the market the Ordinary Shares resulting from such exercise. The Final Subscription Trustee shall distribute pro rata the proceeds of any such sale less the costs of exercising the Subscription Rights and any costs and expenses to the persons entitled thereto at the risk of such persons within 56 days of the Final Subscription Date, provided that entitlements of under £5.00 shall be retained for the benefit of the Company. Holders of Subscription Shares should appreciate that the proceeds of sale may be less than the aggregate market price of such Shares." http://www.polarcapitaltechnologytrust.co.uk/ResourceModule.aspx/Pdf/PCTAll%20FundsSubscription%20Notice0214.pdf?key=2a300da8-175f-4de8-8024-d4f15d382795 ==================================== I would anticipate that the subs will have to be at least above ~15p for it to be worth while for the trustee to process any lapsed subs and hand money back, but this would depend on how many were lapsed - choosing to lapse is a gamble, IMO. It is noteworthy that PCT's discount to NAV has recently opened up to around 2 1/2% when it was near zero. I would think trading in PCTS will essentially cease by around Mar 24. This will be to the wire! GLA. L.
lenses
02/3/2014
17:29
I have bought a shed load of PCTS also and some are in my SIPP. Although you have to exercise your PCTS on or before 14 March if you want to buy PCT at 478p you can still choose to do nothing and hang on until the end of March. If you do this then the following will happen (extracted from Q&A from Polar Capital Trust website): If, after receiving your Subscription Shares you do nothing, the Subscription  share rights will lapse after March 2014. Within seven days following this FinalSubscription Date (i.e. the last Business Day of March 2014) the Company will  appoint a trustee who (provided that  in  its  opinion  the  net  proceeds  of sale  will  exceed  the  costs  of  exercising  the  Subscription Rights), will either:  (i) exercise  all the  Subscription  Rights  which  have  not  been  exercised  (on the terms prevailing on the Final Subscription Date) and sell the resulting Ordinary Shares in the market; or  (ii) (if it appears to the trustee that doing so is likely to realise greater  net proceeds for  Subscription  Shareholders)  accept  any  offer  available  to  Subscription Shareholders for the purchase of the outstanding Subscription  Shares.    The  trustee  will  then  distribute  the  net  proceeds  pro  rata  to  the  Subscription  Shareholders, provided that entitlements of under £5.00 will be retained for thebenefit of the Company.     If the trustee shall not exercise the Subscription Rights within 14 days  following the Final Subscription Date all Subscription Rights shall lapse.      So my take on this is that you will still be able to buy and sell PCTS until the end of March. If at the end of March the price of PCT is greater than 478p after allowing all costs the trustees will pay the difference to the holders of PCTS. The concern I see is that PCT may be artificially driven down close to 478p so that PCTS has no value. However this may be difficult if PCT NAV continues to rise. As always DYOR and my comments are mine only and should not be taken as any recommendation to buy/sell or hold.
dlm2602
01/3/2014
20:43
melody - Well, that's provided you have £47,800 floating about! PCT discount to NAV has been looking stretched in the past few days (496p), despite cable's uptrend. I suppose there has been uncertainty re the number of PCTS that were going to be converted yesterday, but if the NAV rises and PCT sticks where it is I will become more than vaguely suspicious re manipulation precisely because of the scenario you describe. I shall be watching closely. Now, I would never dream of contacting the FSA, would I? ... J ;-)
jswjsw
01/3/2014
14:42
Hold here and RTT, which has done really well and DIS fwiw.
philo124
28/2/2014
20:44
Yeah its a shame Praipus ...the PCT price has got stuck around 480p ..... it only needed to move on to 500p or so and we would have made a nice sum out of PCTS. I've been trading in out of PCTS a little - actually bought in again today at 5.9p as PCT moved up to 487p. (a 9p difference). JSW - yes you are right - I was obviously short of time with my post 164. If you own 10,000 PCTS on 31 March, you have to exercise your subscription right to buy PCT. But (as I see it)you then have to stump up 10,000 X £4.78 ie £47,800. Then you can sell them in the market at 487p X 10,000 = £48,700. £900 profit less whatever you paid for PCTS less dealing costs.
melody9999
28/2/2014
14:15
harry - Sorry for such a late reply! You won't be able to hold PCTS in a SIPP. They expire on 31 March. PCT are a different matter - IMHO they would be VERY well worth holding in a SIPP. What melody means is that you can convert PCTS into PCT by exercising them on 31 Mar and paying 478p/sh. Unless you're buying massive amounts, it's not worth it. With PCT at about 3% discount to NAV, they are currently very good value. J
jswjsw
24/1/2014
08:09
hth - pct. pcts expire in mar 14 and you will get 478p for them
melody9999
22/1/2014
11:05
hi jswjsw - i was looking at this alongside another couple of IT's to add to my sipp. can you explain in very basic terms whether i should buy PCT or PCTS shares? thanks very much
harry the haddock
17/1/2014
14:06
Cable risen by 100bps. But that's not going to stay. Yes, with the quoted NAV we have a 1.3% discount. 2.6p time-value on the S shares is a give-away with 73 days to go... ...against the NAV it's -3.4p !!!
jswjsw
17/1/2014
00:14
8p increase in NAV per share today ....not yet reflected in share price
melody9999
27/12/2013
16:31
Subs (PTCS) now looking good value: warrant premium gone to ~zero, gearing about 30, but only 3 months to expiry. A punt PDYOR. Terms: http://uk.advfn.com/cmn/fbb/thread.php3?id=8764319 L.
lenses
17/12/2013
14:13
Nice push back up to 478 today. Looks set to carry on to new highs after a spell of consolidation - just like it did after 3 months between July and September.
melody9999
03/12/2013
08:30
What a stock!
philo124
23/10/2013
05:30
Read through the thread-I must have alzeimer's.
philo124
23/10/2013
05:21
Thanks a lot; I did look on their website but a bit hard to follow late at night.
philo124
22/10/2013
23:17
Phil - see my post 141 and a few others around there. I added a few more PCTS yesterday.
melody9999
22/10/2013
21:07
Can you remind me how the warrants work? I hold 500 warrants from some time ago as well as 3500 of the ords; I can't understand why I hels them originally unless they came with my initial purchase. TIA.
philo124
22/10/2013
19:34
Yep. 5.8% is AAPL too. Take a look at PCTS (Subscription shares = Warrants that convert at 478p and expire on 28 March 2014). The premium is almost nothing (actually 3.6%) and the gearing is 37 times!!!!!
jswjsw
18/10/2013
14:14
Google! At 01/10/13 Google was the fund's largest holding.
philo124
02/8/2013
06:42
Top Ten Holdings.
philo124
09/7/2013
06:49
Great outlook statement Para 1 ! Well, I thought it said at all.
philo124
18/3/2013
19:22
Nice progress.
philo124
11/10/2012
14:24
Warrants up a lot!
philo124
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