Share Name Share Symbol Market Type Share ISIN Share Description
Uil Limited LSE:UTL London Ordinary Share BMG917071026 ORD 10P (DI)
  Price Change % Change Share Price Shares Traded Last Trade
  1.00 0.42% 237.00 10,135 16:29:20
Bid Price Offer Price High Price Low Price Open Price
232.00 242.00 237.00 236.00 236.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 10.57 6.18 6.67 35.5 214
Last Trade Time Trade Type Trade Size Trade Price Currency
15:10:11 O 49 241.04 GBX

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Date Time Title Posts
02/9/201916:13Utilico for "good long term record in stock selection"970

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Uil Daily Update: Uil Limited is listed in the Equity Investment Instruments sector of the London Stock Exchange with ticker UTL. The last closing price for Uil was 236p.
Uil Limited has a 4 week average price of 233p and a 12 week average price of 199p.
The 1 year high share price is 258p while the 1 year low share price is currently 168.50p.
There are currently 90,297,208 shares in issue and the average daily traded volume is 11,778 shares. The market capitalisation of Uil Limited is £214,004,382.96.
vacendak: Back to the cum-income/ex-income discussion about the NAV from a couple of posts ago: The gap has narrowed back to what it used to be, or in other words, the discrepancy has gone away.
ceaserxzy: If the insider/management are confident of the valuation, a very easy way for them to increase their ownership of the company (assuming they are already approaching owning more than 75% therefore the need to change the company segment to allow them to do more buybacks), they could pay out the accrued income of almost 20p a share and then buy more shares from the market using this income paid to them, which will increase their shareholdings by almost another 5% assuming the share price don't appreciate significantly from its current price, essentially all paid by the company.
morton2011: Right segment for UIL. Share buybacks do not make any profit for UIL for @ceasar info. They get cancelled at the price paid in the market. Its the shareholders who can profit as less shares owning the same assets should lift the share price. Challenge here is the assets are difficult to value. It will only help the share price as well if those holding shares know the company will buy if the discount is over a %. The moment they stop offering to buy the discount will reapply as its all the same assets, the debt will have gone up (or the gearing if they use cash in the bank which reduces the assets) and ICM will own well over 75% of the shares. So why would an investor want to hold the shares once the buyback completes? UIL will be in a poorer governance and value position than it is today from the point of view of a small shareholder.
vacendak: Drastic decision: In a way, they accept the reality: Not enough shares moving around, very low level of free float. To me this "Specialist Fund Segment" means even less liquidity for the shares. hTtps:// I have held UIL Ltd in one form or another since 1997, so I am sentimentally attached to the company. I know, this is a horrible reason to hold, confirmation bias and all... Maybe it is time to exit? Then again, this sounds to be a positive move from the 9p jump in response to the RNS. .
vacendak: NAV at 397.66p, a 5.9% jump within a week. I know gold is pretty hot right now, but Resolute is not everything. It could also be that Sterling has taken a dive recently. The huge gap between cum- and ex-income picked up by Morton is now in its fifth NAV update and running. Although the share price is going up, the discount remains stuck at around 40%. This is despite the momentum in both NAV and share price over the past couple of months. UTL seems to have slightly more trades per day than it used to as well.
vacendak: After reading the latest RNS on the change of registered office, I tried to check if UIL Ltd owns Conyers. They do not, the only link is that Conyers already works for Somers: From the latest Somers Annual Report, page 80: "LEGAL ADVISER TO THE COMPANY (as to English law) Norton Rose Fulbright LLP 3 More London Riverside London SE1 2AQ United Kingdom LEGAL ADVISER TO THE COMPANY (as to Bermuda law) Conyers Dill & Pearman Limited Clarendon House 2 Church Street Hamilton HM 11 Bermuda" Nothing wrong with that, UIL Ltd does have a significant footprint in Bermuda (15.4% as of the latest factsheet).
morton2011: Any reason known for the nett asset on the income side jumping by 20p in the RNS of 1 June which is a massive jump? The ex income reduces by a similar amount. That income will need to be paid out at some point presumably and perhaps behind the shuffling in ICM. UIL sitting on quite a lot of income already. Afterpay continues to shine and UIL been steadily selling down it's stake. I noticed that PayPal in UK offer the same 'free credit' facility now that afterpay is all about. The valuation seems high so sensible to keep trimming the holding and realise the cash.Zeta share price will not increase despite all the buybacks and ICM must own nearly all of it now.
vacendak: A flurry of sales/buys which were in essence exchanges between the key players and the funds/companies they are related with. Charles Jillings' wife is also involved. Two lots of shares marked as sell (200,000 and 383,790), but as the RNS show this did not really matter as the share price was up by 4p or 1.9% by the end of the day.
ceaserxzy: The NAV has gone up by almost 25% from the 2nd of Jan. to the 2nd of July. This is really cheap for such good performance. Multiple directors buys every quarter are also reassuring. The good quality and diversified underlying investments, in uem, apt, rsg, plus the double discounts in somers and uem etc, make the big discount of over 40% even more attractive. Recent share buybacks are also useful for hopefully putting some spur to the share price and narrow that big discount.
vacendak: The short answer is they no longer care. The investment team, directly or indirectly, owns 60% of the company and they do not seem to mind. Also, it is one of the last few split-capital trusts around. The update to the rules some years ago forced them to count the ZDPs as "debt", making the whole thing appear ultra-leveraged, which in a way it is. They are now "happy" that the gearing is below 100%. Were the ZDPs to disappear or be reclassified as shares, I guess professional investors would buy. There was an update in the past (factsheet or report, I cannot remember) that mentioned that the buy-backs were adversely lowering the free float (whatever ICM/ICICM/etc. let people play with) which made the spread look even more horrible. As you can guess, a wide spread puts people off from dipping their toes. The NAV is also not that easy to estimate, it is not as bad as it used to be, but UTL holds a lot of stuff that, even if listed, is not traded that much; so again impeding the price discovery mechanism, wide spread, etc. The whole discount thing is therefore caught in a vicious circle. Absent a reorganisation of the capital structure, I do not see a way out of it. Ideally, if the NAV keeps on ticking up, it could attract "momentum" investors, so maybe, just maybe a subsequent share price catch up.
Uil share price data is direct from the London Stock Exchange
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