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
  +0.50p +0.27% 182.50p 543 08:04:24
Bid Price Offer Price High Price Low Price Open Price
181.00p 184.00p 183.00p 182.50p 183.00p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 10.57 6.18 6.67 27.4 164.8

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Date Time Title Posts
19/9/201813:18Utilico for "good long term record in stock selection"875

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UIL Limited (UTL) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2018-09-20 15:49:26182.5011,95521,817.88O
2018-09-20 14:25:59181.323,8677,011.64O
2018-09-20 14:07:06182.752,0003,655.00O
2018-09-20 14:02:06181.2210,00018,122.00O
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UIL Limited 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 Limited was 182p.
UIL Limited has a 4 week average price of 177p and a 12 week average price of 169p.
The 1 year high share price is 185p while the 1 year low share price is currently 153p.
There are currently 90,297,208 shares in issue and the average daily traded volume is 17,428 shares. The market capitalisation of UIL Limited is £164,792,404.60.
morton2011: Afterpay coming to the UK having bought Clearpay this week. Share price for APT valued at 3 billion aus this morning ,another 5% increase, and behind most of the NAV increase as others pointed out.
vacendak: Pretty good progression for the NAV over the past month or so, it is now clocking at 338.20 p Last week it was at 328.11 p However the share price has been progressing painfully at best. Well, at least the NAV is safely holding above 300, which is already something. The ex-dividend date was announced recently, same as usual. I know "progressive" dividends are a gimmick for many an investment trust, but it would be nice to see a bit of change, even a mediocre 1% uptick from 1.875 to 1.9, would cheer things up.
ceaserxzy: Thanks Vacendak. I have been accumulating this share over a year now, starting from about 155p, in my SIPP and my ISA. My latest buy was last week at 179.95 p. Things I like about this share are NAV performing ahead of the share price meaning value getting better and better, an over 4% dividend, regular multiple director purchases, diversification from UK market. I will hold as long as all these are still valid but will trade some if discounts ever narrows down to mid 20%as it is alarge position in my accounts. Good luck to all holders.
morton2011: @v Good luck with the new job Results from UIL not very exciting. They use NAV as their key criteria when quoting returns and its where the performance fees are assessed against. The share price total return is pretty ordinary however. FT has them both providing a total return of 35% for share price and NAV over 5 yrs while FTSE up 70%. Talking of more ZDP was disappointing to me as would like to see the debt down. Zeta's major investment is panoramic resources whose main asset is a nickel mine that was mothballed. Money being raised to reopen they hope and no doubt ICM and UIL will be providing some of this funding.
morton2011: All news seems good at moment but one thing to note is that UIL is based in Bermuda and this means that a lot of the UK regulations don't apply to them in relation to large shareholdings and what it means for other investors. It is mentioned in the risk sections for investors in various documents they issue so is not hidden. I don't pretend to know what it all means but don't think the buybacks represent some kind of endgame. If I understand the maths the NAV will increase as part of the buyback as less shares: simple split cap 10 shares of £ 1 each Borrows £ 10 Gross assets = £ 20 NAV = £ 1 per share (20-10/10 shares) Mr Market values the shares at £ 0.50 So split cap buy 2 shares for 50 p each at a cost of £ 1. Gross Assets = £ 19 Borrowings same at £ 10 NAV = £ 1.125 per share (19-10 / 8) If Mr Market thinks the share price value is 50% of the NAV then shareprice would increase to £ 0.5625. Mr Market however may not like the gearing which was 100% and is now 111% In UIL case as the gross assets increasing due to the underlying shares moving up its gearing is coming down so the buyback effect to the gearing will be more than offset. They are within their gearing limits so sort of makes sense. so £ 3 NAV looking more and more likely and share price should rise as well..
riskvsreward: looks like a breakout upwards of the share price. It is understandable the majority shareholder (board member in this case)will pursue share buy back if they plan the end game for their majority shareholdings. Why would one invest money anywhere else when his own company is on sale for half price, especially the asset are quite good liquid assets like rsg, apt, uem etc which can be realized easily at market price. Personally as a small PI stakeholder I would like to see also more distribution through progressive dividends which may spur the share price from income seekers. All in all a happy holder at the moment and will trade a small part of my holdings in and out depending on the price action.
vacendak: The ICM secretary got busy and posted a lot of updates recently: [UIL Ltd] October factsheet: Http:// The timing was perfect for reporting good news, the NAV was up nicely. Both the NAV and share price have been rockier since. Gearing going down slowly. Dividend declared, same as usual (1.875p per quarter): [Utilico Emerging Markets] Factsheet: Http:// Slight underperformance compared to the benchmark, but otherwise steady as she goes. And a half-year report: Http:// Overall upbeat report, dividend to go up. The portfolio is slightly more concentrated at 83 holdings, down from 92. The Chinese holdings have lightened up seriously since March, UEM exited China Gas Holdings Limited (“China Gas”), which was responsible for most of the drop. Now for the strange bit at the end of the chairman's statement on page 3: "Over the last 18 months UEM has paid, or accrued for, taxes of £6.8m. Given this increasing tax charge, the Board and the Investment Managers are considering options for a possible change in UEM’s domicile." UEM is domiciled in Bermuda, like UTL. Where would they be planning to go to lower their taxes? [Zeta] October factsheet: Http:// Again good timing for the reporting before the recent correction in the ZER share price, mostly recovered as of today to be fair. Panoramic did well last month. The last line mentions that UIL Ltd exercised all its Zeta options, this is not mentioned in the UIL Ltd factsheet.
vacendak: [Zeta] Https:// It looks as if Zeta is about to offload NZOG, the offer seems to be at roughly 10% premium to the current NZO share price. Cannot get the NZ stock exchange on ADVFN but got this from the NZOG website: Http:// It seems that Zeta would be selling on the way up. Hopefully, if the deal goes ahead, it will also filter through UIL Ltd NAV and, with an even bigger helping of luck, make people want to buy UTL and lift the share price a bit; because the YTD data is looking pretty lame right now.
morton2011: Looking at Bermudan Stock Exchange companies only leads to ulcers. BFIC is 4.5% of UTL assets so at end of Dec represents £ 22 million of assets on the monthly factsheet, so approx $ 27 million dollars (Bermuda and US 1:1) BFIC is owned 78% by UTL and BCB has most of the rest. BCB owned 100% by Somers so UTL totally controls BFIC. Our friends at ICM charge investment fees to all these entities in the chain and have common directors. Shame UTL does not own ICM.. BFIC investments as noted in vacendak post of Keytech and Ascendant represented 91.4% of the investments in 2013 and 86% in 2016. BFIC have rarely traded/ invested in much else and early all the rest of the money invested in Argus Holdings. Argus MD is no other than Alison Hill one of UTL 'independent directors'. These 3 shares do not trade publicly very much as little trading in Bermuda. The gross assets of BFIC in the June 2016 report were less than $ 25.7 as of the trading announcement in Dec Http:// so strange how UTL can value BFIC at the levels it does. Nett asset were around $ 2 million... UTL and BCB have a large loan to BFIC but you can't have it both ways as the gross assets are the only thing that is going to pay back a loan. The structure of BFIC I guess relates to some accounting trickery in 2012. At the very least its a very illiquid asset, I believe the last trade of any volume was over a year ago! It has yielded very little in last 5 years and so I write BFIC down significantly in my valuation of UTL from how they value it. Around 40% of UTL generally is very illiquid and therefore very difficult to value accurately - Somers, Vix, BFIC, ZER. Some of those appear undervalued which does offset BFIC. Other core investments like TCH are embargoed for share sales by UTL into the future and this difficulty to trade a majority its assets is another reason I assume why there is the large discount to the NAV. Odd for ICM to post Keytech results as what has it got to do with them? Only common point in the report I could find is Charles Jillings is a director. None of this any threat to the dividend or the overall value if you have followed UTL long enough imho. On the plus side for UTL Resolute has published a very positive operational update this week and was already up 10% since the last factsheet. Gold price will largely determine the share price short term.
vacendak: Let's look at what happened for the past two ZDP rollover/redemption by unearthing the factsheets. ZDP 2014 (redeemed October 2014) September: Bank debt £0 (yep, that low) Share price 117 NAV 164.48 Gearing 139.2% October: Bank debt £54.7m Share price 114 NAV 156.03 Gearing 141.7% Delta sp: -2.6% Delta NAV: -5.1% November: Bank debt £52.2m Share price 116 NAV 155.19 Gearing 141.5% Delta sp: 1.7% Delta NAV: -0.5% ZDP 2012 (redeemed October 2012) September: Bank debt £2.6m Share price 160.5 NAV 258.52 Gearing expressed as 1.90x October: Bank debt £47.9m Share price 175.5 NAV 258.45 Gearing 1.93x Delta sp: 9.3% Delta NAV: -0.02% November: Bank debt £47.9m Share price 175.5 NAV 256.89 Gearing 1.94x Delta sp: 0.0% Delta NAV: -0.6% The bank debt stated on the September 2016 was £13.6m and the gearing 65.6% So, slightly less prepared to redeem the ZDP 2016 than in 2014, but the gearing was nothing like it was back at the time of the 2012 and 2014 redemption dates. Note that the bank debt shot up in both earlier redemption cases, so again nothing new. Something else than the debt must be scaring people holding UIL Ltd. We are losing more than 50% a month on the share price right now.
UIL Limited share price data is direct from the London Stock Exchange
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