Signet Gbl GBP Share Discussion Threads

[tiltonboy] 11/10/2012 19:37

At what stage do these become a buy?

September NAV shows an INCREASE which I wasn't expecting, though how much the figures can be trusted is open to debate!

[praipus] 02/10/2012 14:47

Well done. To be honest I was a bit surprised you sold so quick only because in my view liquidations its usually best to hold until the last drop of cash drops into the coughers. But each to their own and a profit is a profit.

[seekerofvalue] 02/10/2012 13:09

Praipus, yes 14.3%.

[praipus] 25/9/2012 12:55

Seeker did you exit with a profit over all?

[praipus] 25/9/2012 12:55

Thanks Seeker.

[seekerofvalue] 25/9/2012 12:46

Praipus, my stop-loss was activated last Thursday, so I am no longer holding SIGG. Good luck.

[praipus] 18/9/2012 14:42

Hi seeker ok. Good luck P.

[seekerofvalue] 18/9/2012 14:10

Praipus, I am not re-investing but I will continue to hold with a stop-loss at 61.75p.

[yieldsearch] 17/9/2012 19:31

yes, also the USD hedging has been removed, recent GBPUSD changes not really helping

[tiltonboy] 17/9/2012 13:06

The illiquid rump of the portfolio is the issue. Hopefully we will get another Tender for 20% of the portfolio in the Spring, but thereafter it gets tricky!

[yieldsearch] 17/9/2012 12:50

nav stable, first tender done, share price off a cliff.. any reasons i am missing? tempted to buy more..

[tiltonboy] 13/9/2012 15:45

Unlikely. I think I will be happy to exit this one, taking advantage of the various tenders.

[praipus] 13/9/2012 15:30

Cash and share back:-) 8% profit anyone reinvesting for the next tender?

[praipus] 07/9/2012 15:05

Result of Tender Offer



"-- Based on the Aggregate Gross Consideration of up to GBP17 million and the NAV per Share as at 31 July 2012 of GBP0.9072, the Basic Entitlement was 18,738,977 Shares in aggregate, equivalent to 19.549891% of each registered holding of Shares.
-- The Tender Discount applied in determining the Tender Price, equal to the Tender Costs as a percentage of the Aggregate Gross Consideration, was 0.4234%.
-- Based on the Tender Discount and the NAV per Share as at 31 July 2012 of GBP0.9072, the Tender Price was GBP0.903358. "

"-- The proceeds of the Tender Offer are scheduled to be distributed as applicable through CREST on 12 September 2012 and by cheque on 14 September 2012. "

[insipiens] 05/9/2012 13:22

redart, I received mine 22nd (same broker)

Agree on service quality.

[praipus] 05/9/2012 12:01

What terrible service! It sounds more like an error on their part. What has happened to good old customer service? "Look after your customers and they look after you".

I use Selftrade I get frustrated with their handling of FX but otherwise ok. that said they have screwed up a couple of corporate actions as well.

Hargreaves Lansdown I hate with a passion mainly due to the mountain of unsolicited irrelevant post! evwn after repeatedly requesting removal from their lists.

[redartbmud] 05/9/2012 11:47

I am with Hargeaves Lansdown.
Unable to participate in tender as I was away from 21 August until yesterday, 4 Sept.
Their admin period was alledgedly 20 Aug till 3 Sept, but their massage had certainly not arrived when I left on 21st.
Yet again poor service from an on-lime broker - I had no e-mail access whilst away!

[praipus] 31/8/2012 14:06

Tender Purchase Date and announcement 7 September 2012
of result of Tender
CREST accounts credited with 12 September 2012
Tender Offer consideration
in respect of uncertificated
shares sold under the Tender
Offer and any unsold uncertificated
Shares
Despatch of cheques for Tender 14 September 2012
Offer consideration in respect
of certificated shares sold
under the Tender Offer
Despatch of any balance certificates 14 September 2012
in respect of any unsold certificated
Shares

[seekerofvalue] 30/8/2012 11:56

Tender price calculations from marben100 on stockopedia from reply by jaws6 on the FIX thread.



Signet Global Fixed Income Strategies Ltd (LON:SIGG) (which I hold as an arb. opportunity) has now published its final NAV for July: 90.72p/share. This is the NAV to be used in calculating details of the tender offer. Plugging this figure into the formulae for calculating the tender parameters, I arrive at:
•Maximum tender will be 18,738,977 shares
•Basic entitlement = 19.5% of holders' shareholdings
•Tender price will be 90.35p


Current bid price for the shares is 68.5p.

Cheers,

Mark

[seekerofvalue] 28/8/2012 15:44

July Nav confirmed as 90.72p, from which the tender offer will be calculated. So we should be looking for a tender price of between 89-90p. Can someone confirm the accuracy of my calculations?

[cousin jack] 20/8/2012 16:11

Thanks eeza. I've now rung my nominee brokers who tell me thay are not sending out the offer forms until later this week (no specific date yet set). That seems quite close to the date by which intentions have to be notified. Share Centre seems to be giving it's customers more time, which at a holiday period seems sensible.

[eeza] 20/8/2012 11:47

I received my tender offer form, from Share Centre, last week. Form to be returned before 1400hrs on 3 Sept.

[insipiens] 20/8/2012 11:24

.

removed

[cousin jack] 20/8/2012 11:17

I bought some SIGG last Monday (13th) through a nominee broker but there have been no messages re. how to participate in the tender offer. Should I have seen something form the broker by now ? My reading of the tender notification was that buying now would still have enabled participation.

Clarification from someone more aware of the arrangements would be appreciated.

[jaws6] 16/8/2012 08:29

praipus
only if you know on this pl answer this.Any time before they pulled tender offer ?