Share Name Share Symbol Market Type Share ISIN Share Description
Utilico Emg Sub LSE:UEMS London Ordinary Share BMG931071374 SUB SHS 0.005P (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.375p -1.03% 35.875p 35.50p 36.25p - - - 2,498 16:35:13
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
- - - - 0.00

Utilico Emg Sub Share Discussion Threads

Showing 26 to 49 of 50 messages
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Yes. At last. 37p. Still far too cheap but can't see that changing. No idea why the MMs keep both buy and sell prices way below where they should be. The plus point is we can buy way below the price we should have to pay. The whole idea is that investors expect to pay a PREMIUM for a warrant - i.e pay extra for the time value left. Instead these days they are on offer at a big discount. We can always get full value by exercising or with luck somewhere near by letting UEMS lapse and leaving it to the trustee, so it's not a big negative. Still think fwiw that 250p share price is a very reachable target. UMES then worth 67p, but probable sell price around 60p which is still double the UEMS price since my April post. Even just 240p and worth 57p and trading around 50p will give another 30% gain from price today. vacnendak. It's far better (if bullish on share price) to continue to hold UEMS than exercise next month. Have had a look at EQN. Looks tempting but if market knows rights issue on the way that might keep lid on share price. I like to buy in the dull phase AFTER a rights issue and while all those extra shares are being digested but will keep an eye. Thanks for the heads up.
That's more like it but its still some way off its rightful 44p price!
@kenmitch. Well, you already know I went into this one for the long run on UEM and I have not changed my mind. :) I had put some cash aside for this round, but Equiniti (EQN) is about to tap its shareholders soon... and I am happily one of them. EQN is on a roll right now and seems to be on its way to world domination, so better be part of it. So UEM might have to wait until the last call.
Not converting mine. Hoping UEM can go up around 7% to 240p by early next year. That would make UEMS worth 57p so even if still at a discount UEMS should then reach 50p.That's 40% above current 35.5p buy price. Why convert to get 7% instead of continue to hold UEMS for possible 40%?
RNS about the reminder notice for conversion:
neutronium. Sorry. Have only just seen your post and question. It's not unusual to see the sub move in opposite direction to share. Read nothing into it. Subs are traded by very few and a few buying the subs on share down day or vice verse can cause it. The thing that matters is the price against the share price. And even today with both UEM and UEMS up at 226p and 36p UEMS is worth 43p so is still too cheap.
Charles Jillings makes the point that the conversion of these shares to ordinaries will have the effect of UEM joining the FTSE 250. Trackers will then have to buy!
@KT Good choice. I bought my UEMS about a year ago, converted a few at the latest call and intend to do so with the remainder in August. I like the nature of the holdings (mostly utilities as the name implies), personally it makes it somewhat "defensive" despite being an EM stock. The 3.1% yield is not to be sniffed at either. People who sneak into UEM ownership via UEMS have an even better effective yield after converting. It is a bit heavy on HK/China for me because I also have some Asia-Pacific exposure from elsewhere; but the rest of the geographical spread is diversified. UEM is the EM stock of choice for Foreign & Colonial Investment Trust, which is about as steady-as-it-goes as one can get when considering long-term.
Bought a few of these today. Been looking to buy into UEM for a long time, always seems to be getting away from me, but with everything that's happening at the moment I can see sterling weakening so hoping for a nice rise on foreign assets. Used to invest in warrants years ago when they used to give them away with new issues but sadly they don't seem to do it anymore. KT.
Hi Ken Yes, valid point, current price would suggest it is trading at a major discount, similar to UEM which has a NAV of 246.28 (as closing Friday) with a share price of 225. The discount swayed me in the first instance in investing in UEM directly and now constitutes my entire EM exposure (albeit I took a small punt on Brazil after the recent fall, time will tell on that one!!). It is only recently that I've looked at the subscription shares - if I am happy to invest directly with the principle fund then, as you say, it is a 'no brainer'. Incidentally I've noticed that UEMS does not mirror the main share price movements and can drop on days when the main share rises, is there a reason for this??
Neutronium. Wide spread is not a problem IF confident share price will go up. UEMS is way too cheap.Share 225p to sell so UEMS worth 42p but could be bought for just 31.5p today. So even allowing for spread UEMS is a stunning bargain. Quite a lot of UEMS buys today so some clearly realise that.
I keep looking at these - but dithering at the moment, spread doesn't help either!!
31.41p to buy and 28.13 to sell at the moment.
UEM again at 218p to sell and worth 35p but can be bought for just 28.25p. The only trades so far today are one tiny sell and another 4000 or so at 25.5p. Why sell when such incredible value unless thinking the share is heading down. UEMS is likely to continue to trade at a discount, and it could even widen a bit too. But it's amazing so few investors are aware of this bargain. Target just 5% more on the share price to 230p and UEMS will be worth 48p. OK the discount could get even wider, at share 230p UEMS should be at least 40p to sell. i.e not far off 50% gain compared with 5% for the share. As long as this isn't the peak for UEM, UEMS looks a no brainer. EDIT. £1000 UEMS stake - profit around £500 for 5% share price rise any time between now and next Feb. £10000 share stake. - profit around £500 for 5% share price rise. Same profit. £9500 less staked. Share goes down 5%.... loss on UEMS ( if not selling out long before share falls that much) would be around half the stake, i.,e £500., Loss on £10000 share stake would also be £500. If wanting to hold the share long term, then just exercise UEMS at expiry for no dealing or other costs. i.e if holding, say 3500 UEMS, then exercise by using UEMS to buy 3500 UEM at 183p a share.
PCFS also at big discount and SLES went to discount around 20p close to final expiry, so though UEMS exceptionally good value and look a strong buy, the discount is likely to persist.
UEM now 218 so this should be 35p!
UEM now at 216, with a 5p rise this AM, so (dicounting dividends) UEMS now have intrinsic value of around 33p (216-183 conversion price), but are 28p to buy. I've enough of them anyway but, on the face of it, this looks a bargain.
some other subscription shares
jonwig. True---but there again one has the use of the 183p/share for the 18 months and may generate some income from that. MMs have widened UEMS to 24-27 this AM, which is a pain; spread was less yesterday
Vulgaris - are you omitting the dividends which the ords pay but not the subs? I decided to subscribe this month mainly for that reason. (Quarterly, 1.63p at present.)
Thanks Vulgaris My UEMS went on the register just around August 8th, so I guess I just missed the call. I am with Equiniti. I am still planning to conver next February as stated. Technically I could have just made a bit of money, as the share price just passed my break-even point(all cost included) yesterday. :)
Vacendak, For the Aug. 2016 conversion date Barclayshare wrote on 9/8, requiring an instruction by 24/8. The UEMS conversion price is 183 vs. a market price of 207.25 for UEM. Thus the intrinsic value of UEMS is 24.25 vs a bid price 26.25, meaning a time value of only 2p. That looks very low given that there's still 18 months to run and the UEM NAV is 227, with a wider discount than in the past. Or am I missing something?
For those who hold them, when exactly do you receive the notice asking you if you wish to subscribe for the next exercice? Is it weeks or months in advance? For instance I have only recently bought some, and will definitely be on the register before end of August; but is it too late to receive a corporate action notice? Just being curious, as, unless UEM shoots up by a lot, I was more or less looking into the Feb '17 exercise date anyway.
SUBSCRIPTION SHARES Ticker: UEMS.L Shares in issue 42,605,893 Exercise Price 183.00p Exercise Dates (last business day of each) Aug '16, Feb '17 Aug '17 and Feb '18
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