Uil Share Discussion Threads

[eeza] 06/9/2016 16:35

@praipus
Yes, I should have stated UEM.

[vacendak] 06/9/2016 16:33

Praipus

No worries, we are all mostly posting about the portfolio of UIL Ltd.
And UEM is a good chunk of it.

As for UEMS, yes, the information is not easy to find. It does appear in the Annual and Interim Reports of UEM. Next round of conversion is for February. Got myself some UEMS recently to convert then.

The spread on UEMS is pretty wide. Although I got lucky (with Equiniti), they managed to buy mine spot on the mid-price of the day! :)

[praipus] 06/9/2016 16:27

eeza, for clarity thats UEM not UTL

Free BB for UEM


Must admit I didnt know they had any subscription shares in issue, not on the UEM monthy fact sheet under Capital Structure.

[eeza] 06/9/2016 07:12

RNS
6 September 2016
Utilico Emerging Markets Limited (the 'Company')

Conversion of Subscription Shares

The Company announces that today it has issued and allotted 3,463,903 Ordinary Shares following the exercise of conversion rights by Subscription Shareholders.
Application has been made for the Ordinary Shares to be admitted to the premium segment of the Official List and to trading on the Main Market of the London Stock Exchange. It is expected that dealings in the new Ordinary Shares will commence at 8.00 a.m. on 9 September 2016.
Subject to the listing application, the Company's issued share capital will comprise 214,926,502 Ordinary Shares and 39,141,990 Subscription Shares.

[luckymouse] 05/9/2016 09:52

Better to have a live estimate than nothing - that's why its there

[vacendak] 05/9/2016 09:29

LM

Thanks.
They do not tell us how they do it, beyond stating "Charts and performance data provided by Interactive Data". :)
hxxp://www.interactivedataclients.com/

Unlikely to be by tracking the UIL portfolio as some companies there are unlisted, also UIL never publishes a complete list of its holdings either (some ITs do that monthly). Must be voodoo and reading of fish entrails then.

It does matter really, with a discount like that the NAV/sp correlation is at best at the level of the direction of the trend.
Right now, it is as if looking at RSG (ASX at close) in the morning gives more information on the expected behaviour for UTL during the day (on the LSE) than its latest NAV value.

[luckymouse] 05/9/2016 09:14

HLs est nav algorithm

[luckymouse] 05/9/2016 09:12

Underlyings still cooking on gas

[vacendak] 05/9/2016 08:58

LM
Just being curious: Where do you get the NAV graph with such granularity?
We get the NAV updates only weekly and so far there has been only one drop at 313.66p from its previous high of 322.46p.
For the share price (blue graph), I understand the small changes since it would represent the tracking the daily trades.

[tudes100] 05/9/2016 08:14

Another big hike for Resolute on the ASX, +8%

[bamboo2] 04/9/2016 20:42

Hi LM, I have a target around 183. Price has picked up nicely on the lower trendline.

[luckymouse] 04/9/2016 13:59

Considering mkts are showing a bit of summer softness - this is v firm imo
Wouldn't be surprised if she broke out towards 180-190 looking at height of prior leg

UTL (nav purple)

[vacendak] 02/9/2016 19:18

Praipus

I think Morton understand the cancellation/treasury business, his point was more about a company buying and holding its own stock by borrowing to do so (issuing share would be self-defeating of course) then count the share treasury as a portfolio investment. Unlikely I would say.

UIL can buy back with its own money, they ask for the permission every year. Not sure if they operate a "treasury" account though. I think they always buy-back to cancel. Exceptions of course are made for the UIL "Finance" shares (the ZDPs) which, as we have seen lately, UIL has bought eagerly at par and had been offloading slowly at a nice premium.

We did not get an NAV update this week.
I have checked the UIL website in case it was late, but no...

[praipus] 02/9/2016 16:35

"purchased for cancellation"
Example Imaginary company with 2 shares in issue NAV per share £3.00
SP £1.50
Buy back 1 share at £1.50

New NAV per remaining share £4.50
Remaining share holder happy with improved NAV.

[morton2011] 01/9/2016 10:21

On the recent UTL buyback's and Somers point discussed a few weeks ago.

My thinking at the time was that by establishing a floor price around 164 pence then when the Somers deal happens (its waiting on regulators) then if there are determined sellers UTL can just keep on buying the shares.

Anyone know if buybacks can be made as 'investments' or if they need to come from the revenue/income of an IT?

[eeza] 01/9/2016 08:09

Co continues to Buy back its shares - now for cancellation purposes.

The Board of UIL Limited ("the Company") announces that on 31 August 2016 the Company purchased for cancellation 107,778 ordinary shares of 10p each at a price of 164.0p per share

[luckymouse] 30/8/2016 12:34

davebowler - no worries glad someone is - was surprised I had to add CGW!

[vacendak] 30/8/2016 11:53

Something I have picked-up:

www.trustnet.com/News/688137/three-off-the-radar-investments-by-premiers-table-topping-multi-asset-team/

UIL Ltd is mentioned here via its ZDP 2022 having been recently included in the "Premier Multi-Asset Conservative Growth fund" back in June. They acknowledge the good cover, thus low-risk of the ZDP 2022 class.

www.premierfunds.co.uk/investors/investments/funds/multi-asset-funds/premier-multi-asset-conservative-growth-fund

The FE TrustNet article cites Resolute, Somers, Zeta and Touchcorp.

Hopefully this will attract more attention to UIL, improve trading/liquidity, lower the spread, etc.

[davebowler] 30/8/2016 10:12

Thanks for your comment Lucky Mouse.

[vacendak] 30/8/2016 08:47

SpectoAcc:
Sorry, cross posting/editing, I had just edited my post.

[spectoacc] 30/8/2016 08:44

They're certainly active.

[vacendak] 30/8/2016 08:32

I knew Resolute had been hoarding bullions, but paying the dividend in gold... now that is what I call style!

Taking the payment in gold would allow UIL to show "gold bullion" in its holdings, thereby looking more reassuring to potential investors. Too lazy to check, but I am not sure if UIL has authorised itself to actually invest in physical gold/precious metals, so obtaining some via dividend payments would circumvent whatever restriction they may have.

Earlier today UIL has been off-loading more ZDP 2022:


The current premium for those was 8.27% on August 23rd, so UIL has made some easy money again on buying its own debt when it was issued.

[morton2011] 30/8/2016 07:25

Resolute dividend announcement today hxxps://www.rml.com.au/uploads/7/2/0/8/72081691/160830-rsg-asx-resolute_to_pay_gold_dividend.pdf

Highlights
· Resolute commitment to a sustainable and ongoing gold sales-linked dividend policy
· Expectation that 2% of annual gold sales revenue will be allocated to an annual dividend
· Shareholders to be given the option to receive dividends in cash or in gold with The Perth Mint

The dividend payable is $Aus 11.1 million so a decent revenue for the UTL holdings with > £ 1 million payable 20 October. Long term commitment to paying dividend is good for UTL as I see it and in particular its revenue potential and the yield. The option of being paid in Gold sounds like ICM might have been involved and be interesting to see if UTL choose to take dividend in cash or gold.

[luckymouse] 28/8/2016 13:03

davebowler - noticed you added zillions of ITs to advfn FBBs lol - good job! :)

Makes you wonder why advfn don't add them & clean up the old ones!