Prelude Trust Share Discussion Threads

[jonwig] 03/2/2007 08:38

hvs - of course, I hope you're right, and on any significant drop I could well add myself.

My remarks were prompted by the market on Monday 10 May 2004, when the FTSE100 dropped 103 points (2.2%) but PDT was down from 88.5p to 80p, a savage 9.6%. Volume was high but not extraordinarily high.

I remember this because I had added to my PDT holdings that morning (a pre-set limit buy), so it did hurt!

[hvs] 02/2/2007 20:33

No worries,

I have decided to BUY BUY BUY

Good luck all PDT holders.

[tiltonboy] 02/2/2007 20:00

Orange,

We bought stock yesterday at 115.4 and 115.5. Today, we bought stock at 115.5, but then managed to hook into a seller that Panmure's found, and bought stock at 115.25p(50k & 30K).

I do not know how many more the seller has go to do.

tiltonboy

[jonwig] 02/2/2007 19:07

When discussing your trades, remember that it's also quoted on PLUS. My own buy yesterday was there, through TDW who seem to use PLUS for choice:



"... the RISK is MINIMAL" - well, no.
I agree that the spread of assets and conservative valuation would suggest so.
But he risk in the overall market is probably underpriced and PDT would get a savage markdown on any shock.

[hvs] 02/2/2007 18:41

FSE,

Thank you,

I feel PDT are as safe as houses and will rise faster than a house. With cash
and the present low market cap , the RISK is MINIMAL.

No need to worry of sleepless nights if you hold PDT.

[fse] 02/2/2007 18:33

>hvs... I suppose it depends on your risk criteria.
If you like sleeping at nights then these ought to be OK.
There is hotter property around.... but

You could continue buying into them at these levels with a good chance of a decent return but if not its highly unlikely they will turn down much.
Low risk with moderate to decent return.

I am following ZBD very carefully and progress there is very encouraging.

[orange1] 02/2/2007 18:26

Hi Tiltonboy
It's just that the M trade is listed at 115.5p but all the others apart from HVS's 10k are for less. Are you saying yours is not listed?

[hvs] 02/2/2007 18:15

Hi FSE,

Agree absolutely. Such potential in investee companies and loads of cash.

I think its a possibility that if we get exits at good prices we could see a special divi. (return of capital)

I see these as cheap as CHIPS and am tempted to keep adding.

[fse] 02/2/2007 18:11

>hvs.... I have a shed load of these and reviewed the whole scene again in depth.
Sell or Hold..
Perhaps the fact that the anticipation of what was to be in 2006 not happening on cue really discouraged investors.
Trouble is that mkt conditions and sentiment towards Tech in general was weak in 2006 but not hopeless... this year its all looking different.

If I was a fund manager looking to place clients with some exposure to the Tech Industry, then buying PDT with a basket of technologies at a discount and with possible exits this year would seem attractive.
More attractive would be the low risk involved.
I am surprised that more managers are not looking at these more seriously for their clients...

still encouraging to see that at least a few on here have some vision. I feel that this year will not disappoint.

[tiltonboy] 02/2/2007 18:10

Orange,

We were paying 115.5p, so WINS cut his position all square/fraction down.

hvs,

I'm as convinced as I have ever been, looking at the current portfolio. m-spatial, and si-connect are in the books at around £2m each for roughly 30% shareholdings. Both of these could be enormous winners. I also see enormous opportunities in some of the other holdings.

tiltonboy

[hvs] 02/2/2007 18:02

tiltonboy ,

If you guys have been picking such lots you guys must be convinced that it offers very good chance of appreciation ?

[orange1] 02/2/2007 17:54

tiltonboy
Does that mean that WINS paid Panmure 115.5p for them and sold them to you for less?

[tiltonboy] 02/2/2007 15:32

hvs,

Not my pockets!!!

I think there is a seller around again, which is a bit of a shame. Just picked up another 30K.

tiltonboy

[hvs] 02/2/2007 15:28

Hi tiltonboy,

Thank you for above. Very deep pockets you have.

I bought 10k today.

[tiltonboy] 02/2/2007 15:06

hvs,

We have been buying a few in the past couple of days, and it looks as if WINS couldn't find them in the normal course of events, and took them off Panmure. There is another mark to come through, where we also took 50K off Panmure's.

tiltonboy

[hvs] 02/2/2007 14:52

Today's voulme should have made the price up.

What's going on ?

[hvs] 02/2/2007 09:47

Good to see revived interest here .

I am also very confident about PDT, feel like a top up coming.

[jonwig] 02/2/2007 07:22

FSE, the chart against Techmark (middle one, post #7412) is an eye-opener - amazing what a change of scale can show: I'd no idea we were lagging so much in relative terms.

Rivaldo (post #7410) - thanks for the welcome. Will come back with some queries and comments later.

[fse] 01/2/2007 23:15

Yes 2006 (as the charts show) has been a wretched year for this inv trust which is ironic really given the fact that the portfolio has never looked stronger.
Its not always been this way and there have been times when PDT traded at a substantial premium to NAV

[spin doctor] 01/2/2007 23:11

The market turning a blind eye. Fantastic.
That is a very very positive statement: "....WILL provide shareholders with substantial growth in NAV."

[fse] 01/2/2007 23:06

..

Prelude Trust H1 NAV 143.2 p/shr vs 147.3p; sees 'substantial' NAV growth

LONDON (AFX) - Investment trust Prelude Trust PLC said its first-half net
asset value (NAV) at September 30, 2006 was 143.2 pence per share as compared
with 147.3 pence one year ago due to a 5 mln stg share buy-back programme.
The company declared, however, that it is expecting "substantial" NAV
growth.
With 15 active companies in its portfolio, chairman Mike Brooke stated that
9 of these are revenue-generating with a further 3 companies expected to achieve
early revenues in 2007, hence his confidence that "this combination of early
stage and more mature investments will provide shareholders with substantial
growth in net asset value."
The technology-focused trust said it held cash of 12.3 mln stg end-September
versus 24 mln stg at end-March following the acquisition of three companies
during the six months under review.
Prelude added that it has committed 1.7 mln stg for further portfolio
investment and that it is "exploring exit opportunities for some of its more
mature portfolio companies."

[fse] 01/2/2007 22:54

Tech is just so cyclical and sentiment to upgrade and move forwards appears to be gaining momentum. I have a bunch of investments starting to see the light of day again. There is a lot of pent up value in here.
I am cautiously optomistic of a decent return here finally !



Against Techmark Index its pedestrian and ought to catch up ... recent lack of movement has been ruining the show



longer term again against TechMark

[spin doctor] 01/2/2007 21:31

I've built a modest stake, now periodically adding longterm spreadbets (IGIndex then seem to be buying in the market). This looks to me like a great stock with which to leverage ones capital - modest downside, and may well take some while before a significant move North, hence maybe don't want to tie up 100% for too long.
But even the sb's are controlled risk....

The scaling on the chart top right does give an excessively dynamic impression of things.... if only.

[rivaldo] 01/2/2007 21:24

Hi jonwig, good to see another quality poster here. Which are your big hopes in the portfolio?

Today was a bit of a red letter day for news - on top of Siconnect and M-Spatial this has appeared on the Phyworks site. I like the comments about capturing of market share and ramping up production:



"Comms chip developer, Phyworks, expands to support recruitment drive (2nd January 2007)
Date 02/01/2007
UK Start-up, Phyworks have relocated to larger offices in Bristol's vibrant city centre. Phyworks, who have recently celebrated their fifth year in the semiconductor industry, design physical layer ICs for optical communication modules.

Phyworks say the move is prompted by the need for larger design facilities and laboratory space with expansion capabilities to support their growing customer base. This growth is because Phyworks has recently captured significant market share in the rapidly developing FTTx market enabling deployment of FTTx technology worldwide. This is through Phyworks' leading transceivers and TIAs in both the GPON and GEPON markets, which and are now ramping in production. The move was also instigated by the need to provide facilities for the new design engineers Phyworks is currently recruiting for developing projects in the company's core Electronic Dispersion Compensation technology, currently being deployed in enterprise and metropolitan networks.

Speaking of the move, Phyworks' CEO, Stephen King, said 'The relocation is excellent for the growth of the company. Being based in the city centre complements the outward looking culture of the company. Also, as we are now recruiting analogue design engineers to support the company's growth, we feel a city centre location will be really attractive to new employees.""