Principle Cap. Share Discussion Threads

[rmart] 09/6/2009 13:04

someone had 18 mins patience !

[bones30] 09/6/2009 12:53

Thanks rmart.

Glad I'm not the only one seeing this as a bargain. I was thinking there was something up about GEM last week, based on looking at the charts etc, and noone was on the BB. Tends to be a good sign infact.

Can't help wondering if we may see any afternoon buyers.

[rmart] 09/6/2009 12:40

By the way a 125% rise on only 23,000 shares trade. Just shows how few there are around which are not tightly held.

Major Shareholders
Shareholders who hold more than 3% % Holding
Concerto Capital Corporation* 30.30
Jupiter Asset Management 9.85
Jonathan Sieff+++ 8.69
Deutsche Bank AG 6.77
Brian Padgett+ 5.28
Leonard O'Brien ++ 5.28
Principle Capital Investment Trust plc 5.01
SVM Asset Management 4.30
SG Options Europe 4.30
James Peggie 3.94
George May 3.86
David Cooley 3.86

Total is 91.44% owned by people with 3% or more leaving just 8% of 18m between holders with 3% or less.

Just 1.4 million !

Watch this rise back to £2.

[rmart] 09/6/2009 12:37

a 125% rise will put people off buying. Tomorrow's another day where we start level but i imagine we will get another 50% tomorrow and then a more steady rise.

The directors have options at £2 a share. This has been crucified because of the in fighting, now its all sorted and we are moving on we should go back to well over £2 imo.

[petersmith6] 09/6/2009 10:36

and get there mitts on some more stock

[bones30] 09/6/2009 10:08

I guess it may take a while for the market to digest?

[petersmith6] 09/6/2009 09:54

just got may hands on some more, what a delay. whos trying to slow it down?.

[bones30] 09/6/2009 09:49

Taking a while, isnt it?

[rmart] 09/6/2009 09:44

As at 31 December 2008, the Group had net assets of GBP35.1 million (equivalent
to 189p per share)

[bones30] 09/6/2009 09:30

I had a job getting any, I'm guessing everyone else is too - which is why this is taking a while?

[rmart] 09/6/2009 09:28

its simples, they were going to cancel the fund and pay shareholders out. Now all the problems are sorted and they have £1 billion! under management.

£3 is cheap.

simples.

[bones30] 09/6/2009 09:28

The market's had this one completely wrong by the looks of it.

[pre] 09/6/2009 09:26

certainly looks that way....there is significant upside from here and the mm's know it....

[rmart] 09/6/2009 09:24

going all the way back to £3

[pre] 09/6/2009 08:36

NAV for net assets equivalent to £1.89 per the results announced today....

[pre] 09/6/2009 08:31

another that has significant upside potential....trading at well below nav...

[masurenguy] 04/4/2009 10:34

Hmm..........looks like the 'experts', Nick Greenwood and Andrew McHattie, did not make a good call here - the share price has dropped almost 90%, from 169p to 17.5p since my last post on August 23rd.
.................................................................

Citywire Financial Publishers Limited.
Fri 27 Mar 2009

Myerson's woes mount as Principle Capital faces liquidation

Shareholders in Principle Capital Investment trust have voted by an overwhelming margin to eject directors which include activist investor Brian Myerson. Myerson, along with Alan Clifton, Brian Padgett and James Roe, have been replaced by John Chapman Patrick McCann, who have a brief to start winding up the £48.6 million trust and return capital to investors. He has now called a second extraordinary meeting of shareholders on 16 April in an attempt to rescind the decision. Investment management has been passed to Crystal Amber Asset Management in a two year deal with management fees structured as 3% of capital realised and returned.

Myerson is one of the UK's leading activist investors. The South African has targetted a number of UK firms over the years including, jeweller Signet and glassmaker Pilkington. Last year the South African teamed up with hedge fund manager Cycladic Capital to force the exit of the chief executive and chairman at Photo-Me International. The winding up the trust adds to the mounting lists of problems at Principle. Earlier this month he told the courts he could no longer pay the £9.5 million due to his ex wife followng their divorce in 2008 because the value of his estate had been wiped out in the recession.

Performance of the trust, which launched in October 2005, has been a long-term concern which has come to a head in the market downturn. It is down 52.7% over three years versus a peer average of -27.3%. In the last 12 months it has lost -35.2% over the last year against a peer group average of -24.4% and is trading at a -31.4% discount. Shareholders voted 56,362,418 to 38,130,951 to remove the previous managers and by 71,077,432 to 23,415,937 to begin the process of winding up the company. While not subject to a public vote, Wilfrid Caldwell has also stepped down as a director.

[vision88] 16/12/2008 19:13

a slidey investment company complete with goberlygoo jargon

[rambutan2] 09/10/2007 16:14

for the record, bought via an X trade at 330p...

The Company announces that it was today notified by SVM Global PLC ("SVM") that
following the purchase of 91,000 ordinary shares of #1 each in the Company
("Ordinary Shares") on Thursday 4 October 2007, SVM's beneficial interest in the share capital of the Company is 796,000 Ordinary Shares, all with voting rights, representing approximately 8.84 per cent. of the Company's issued share capital of 8,999,806 Ordinary Shares.

[rambutan2] 28/9/2007 00:28

all moving along nicely:

proposed acquisitions...


and interims...

[rambutan2] 12/9/2007 00:15

Principle Capital Investment Trust PLC

The Directors announce the unaudited statement of results for the six months to
30 June 2007 as follows...

[rambutan2] 12/6/2007 00:05

11 June 2007

PCX.L

PRINCIPLE CAPITAL HOLDINGS S.A.
("Principle Capital," the "Company" or the "Group")

Preliminary Results for the Year Ended 31 December 2006


Highlights:

Financial:

* Management/advisory fee turnover #5.34 million (2005: #0.18 million), of which
#4.19 million was performance related

* Maiden profits after taxation of #2.65 million (2005: #1.53 million loss)

* Earnings per Share (after minority interest) of 20.14p (2005: loss per share
of 12.77p)

* Net assets of #14.81 million (equivalent to 160p per share) (2005: #12.02
million)

* As at 31 May 2007, assets under management were generating annualised
management/ advisory fees for the Group of #2.28 million excluding any
performance related revenues

Operational:

* Fee earning assets under management (allowing for certain cross interests) at
the year end increased 150% to #150 million (2005: #60 million) and in the
first five months of this year have grown a further 27% to #190 million

* Investment management comprises two separate activities, our activist
investment funds and our alternative investment funds:

Activist Investment Funds

* first full-year contribution of Principle Capital Investment Trust plc, whose
ordinary shares saw a net asset value increase of 20.5% in 2006

* open-ended fund Principle Capital, LP launched with first closing of #18
million

* Bulldog Financial Limited, which is invested solely in Nord Anglia
Education plc, showed net assets of #17 million (31 May 07) against a book
cost of #8 million (launch April 2005)

* further successful co-investment arrangement in Luminar plc

Alternative Investment Funds

* Our alternative funds business established the South African Property
Opportunities fund, raising #30 million initially in October 2006, with a
second fundraising of #33.5 million completed in May 2007

* Additional projects expected to increase funds under management significantly
in 2007


Commenting on the results, Brian Myerson, Chief Executive of Principle Capital,
said:

"I am delighted with the strength of our 2006 results, which stems both from the performance of our experienced investment team as well as the great progress made in expanding the Principle Capital product offering. With our enlarged stable of funds and several new opportunities in the pipeline, we are positioned to grow funds under management significantly in 2007. As a result I have great confidence in the prospects for the group."

[rambutan2] 05/6/2007 15:36

qvt are out and the price hasn't slipped at all - which a v good sign imho. they made a nice turn, and longer term holder/s now in.

[rambutan2] 29/5/2007 23:10

for the record...

02 May 2007

PRINCIPLE CAPITAL HOLDINGS S.A.
("Principle Capital")

FURTHER FUND RAISING - PRINCIPLE CAPITAL INVESTMENT TRUST

The Board of Principle Capital is pleased to note the announcement made today by Principle Capital Investment Trust plc ("PCIT") (Ticker: PCIT), regarding a
placing of 8,379,000 new ordinary shares in PCIT which will be issued at a price
of 123.8776p per new share in cash to clients of E.I.M. SA, a Swiss management
company of a fund of funds.

The new shares will be issued at a premium to the last published unaudited net
asset value of PCIT, being 121.40p as at 27 April 2007. The net proceeds of the
issue to PCIT will be approximately #10.2m.

As at 27 April 2007, PCIT had unaudited net assets of approximately #101.7
million. Pro forma net assets of PCIT, following the issue of the new shares,
will be approximately #111.9 million. Dealings in the new PCIT shares are
expected to commence on 3 May 2007.

Following this placing and the placing by South African Property Opportunities
plc announced on 1 May 2007, Principle Capital is pleased to report funds under
management on a pro forma basis standing at approximately #190m ($390m).