Utilico Emerging Markets Share Discussion Threads

[praipus] 06/6/2006 15:01

One thing about Utilico is that it is honest and is not affraid of bad news IMHO. As in so many things better to accept and deal with it than ignore it until its too late to do anything.

[praipus] 05/6/2006 21:44

Interesting set of results flying start though the chairmans statement implies that emerging markets have suffered a significant loss of investor confidence!

[krishall] 12/5/2006 11:43

the C shares (UEMC) and associated warrants (UEMX) are being traded from this morning

[purse] 25/4/2006 07:40

Praipus

No unfortunately, I thought they had levelled out and got out at circa 250, not a bad profit from 50p. I keep wondering whether to buy more.

Purse

[praipus] 21/4/2006 11:57

I've only got the Warrants so do not seems to be able to benefit from the C's arrival yet but would think the fashion for quality index linked assets is spreading and therefore Utilico will remain a good place to be. Do you still hold Ecofin ECWC?

[purse] 20/4/2006 20:58

What's the general feeling on the offering of the new "C" class shares.
Having got some of the original shares just after launch, I'm tempted to buy my allocation and try for extra.
Utilico have been a very successful adventure for me, back fron when it was the F&C Special Utilities. So I'm hoping Emeging Markets will be as good.

[praipus] 10/4/2006 14:52

Oxford, I cant answer your question but do know that in the resent announcement liquidity issues were sited as one of the reason for raising more capital and I wonder if that is what we are witnessing.

[oxford blue] 10/4/2006 14:18

UEM down marginally today - and the warrant offer ticks up to 50p. Why would that be, I wonder.

[krishall] 07/4/2006 08:53

It seems the Open Offer of up to 75,070,776 million C
Shares is available to just the holders of the 75,070,776 existing UEM shares as of 4 April. So this is another good piece of management. The date has already passed and new holders buying in today will gain no 'direct' benefit as regards offer.

The remaining 24,929,224 million C will be placed with institutions etc. (and I guess there are several that want to buy reasonable amounts).

Existing holders that take up the offer and new institutions that take placing will get warrants. No non-shareholders buying existing stock now (or yesterday) will benefit by getting a 'free' warrant allocation. Existing warrants will not be diluted on a proportional % basis at the merging of shares / warrants later in the year.

[oxford blue] 07/4/2006 08:43

Thanks; it says 'open offer' - does that mean non-shareholders can purchase at 100p and get free warrants too?

[krishall] 07/4/2006 08:35

no dilution - that's why I've said the management are good. The new shares are seperate class C one's. there will be no dilution if the merging of existing and C shares are merged 'correctly' on / before 30 November 2006. even if price drops between issue and merging of C shares then management have said no new warrants associated with the merging will be issued at that time. From rns then can see no dilution to existing holders whether or not they take up the offer.

would presume anyone holding UEM now is long on it - therefore taking up new offer is adventageous as we'll get some warrants this time (only available to institutions etc at previous placing).

also no underwriting costs with new issue as mangement are confident they get at least 50m (and almot certainly the full 100m). they've already got commitments for 32m from the major shareholders

[oxford blue] 07/4/2006 08:21

Will there not be a dilution for those not taking up the offer? Also: will the share price correct down to 100p to come into line with offer? I'm a holder of UEMW only - will the issue of extra warrants dilute their price too?

[krishall] 07/4/2006 08:06

so we finally have details of new placing - allocation to existing holders on basis of 4th April. overall details seem a bit 'complicated' and drawn out - but seems it has to be that way with the method they've implemented. good to see there will be no diluton oto existing shareholders of any sort. in my view a good sign that management ave good principles ....

[krishall] 17/3/2006 13:04

the downside of selling now is that'll it will affect eligability for the proposed C shares issue (and the warrants that'll go along with it).

[samg99] 17/3/2006 11:30

Yeah...given NAV hadn't changed on the week, just thought I'd take profits on a tenth of my holding ;-)

[krishall] 17/3/2006 09:18

have to assume that 'people' dealing with those sort of numbers 'do their own research - therefore those 'people' dealing with 100,000 shares at a time probably keep thier own estimate of NAV constantly updated....therefore sold before the next NAV announcement.. just a thought

[oxford blue] 16/3/2006 20:38

Maybe just coincidence, krish? I note the warrants (of which I'm a holder) ticked up for no apparent reason.

[krishall] 16/3/2006 17:46

interesting that someone ditched 100,000 of these shares about 40 minutes BEFORE the NAV announcement (which indicated virtually no change in NAV over the week).