Utilico Investment Trust Share Discussion Threads

[praipus] 05/8/2005 11:01

Good move Purse 50p to £1.80 is not bad that said its not too late to buy ECWC at todays price £2.32-£2.37 undiluted NAV over £3.22 IMHO. American electric utilities deregulation, Euro companies looking to make themselves attractive to investors, spin off IPO's and takeovers likely to have a futher positive impact on Ecofins gross assets IMHO.

[purse] 03/8/2005 20:59

Praipus

Have UIL & UILB (ZD's) in ISA's, UILA in my normal holding.
Unfortunately sold ECWC too early @ £1.80 area, having started at £0.50 area.
So a nice profit but could have stayed in longer, hindsight is wonderful.

[praipus] 03/8/2005 11:27

Purse, well done good move. Did you get any warrants on day 1? I find it interesting that they have gone to such a premium. The Warrants value implies NAV should be around £1.30+ on the ords.

I understand if you hold AIM shares for long enough you pay no TAX on the gains anyway so no need to put them in a PEP or ISA even if you could.

Unfortunately didnt buy any UEM or UEMW, too cautious wanted to wait and see a few more RNS NAV statements before committing new funds. Also not willing to sell UIL (who hold 20% of UEM anyway) or ECWC (still 25% discount and highly geared).

Are you sill in UIL and ECWC?

[purse] 01/8/2005 14:04

Praipus

Did you buy any UEM, they are increasing in value already.
I bought a few on day 1, because of the success of Utilico in general. I should have bought more, but I couldn't put them in the ISA I wanted to.

Nice move in the Utilico stocks today.

[praipus] 27/7/2005 10:17

UEM for the ords and UEMW for the warrants, lots of exposure to China and other emerging markets.

[rambutan2] 14/7/2005 23:06

birth of an offshoot...

[rambutan2] 13/7/2005 14:31

bt emp are out.
that was a short stay.

[praipus] 13/7/2005 12:10

From the FT full article on their web site if your a subscriber.

Electricity regulator accused of jeopardising gas takeover
By John Murray Brown
Published: July 13 2005 03:00 | Last updated: July 13 2005 03:00

The Northern Ireland representatives of both the CBI, the employers body, and the Institute of Directors have accused the region's electricity regulator of "playing the financial markets" by interfering in the proposed sale of Belfast's gas distribution company, writes JohnMurray Brown.

Kellen Acquisitions, a vehicle linked to Guy Hands, the financier, has offered to pay £450m for East Surrey Holdings, a water and gas distribution company that owns the Phoenix gas company in Northern Ireland.


Interesting regulatory strategy when most of europe is trying to attract investment... Praipus.

[praipus] 08/2/2005 15:08

Long overdue IMHO will the same happen to Ecofin? Infratil is intreresting NZ and Australia do a lot with China. Would expect some GDP growth to rub off and in-vestors to nudge share prices up in those markets. Links to the top ten underlying exist on the Utilico website.

[rambutan2] 07/2/2005 11:24

have certainly pushed the ords price up to v little discount.

[praipus] 07/2/2005 11:07

Jersey Electric, International Energy, 26% of Ecofin's Capital shares the list goes on and on !

[rambutan2] 25/1/2005 09:40

priapus,
thats not just any old institution. they are the managers of br emp trust, the top performing undervalued assets-style trust. they been on the buy for last few months. when they buy in its usually a v good sign of some hidden value being in the port. although they happy to play a waiting game for it to appear. wonder what in partic has drawn them in at this time - infratil/utilico? or simon? or...

[praipus] 24/1/2005 13:53

Institutions buying more!

RNS Number:7185H
Utilico Investment Trust PLC
24 January 2005

SCHEDULE 10

NOTIFICATION OF MAJOR INTERESTS IN SHARES



1) Name of company

Utilico Investment Trust plc

2) Name of shareholder having a major interest

Asset Value Investors Limited

3) Please state whether notification indicates that it is in respect of holding
of the shareholder named in 2 above or in respect of a non-beneficial interest
or in the case of an individual holder if it is a holding of that person's
spouse or children under the age of 18

Held on behalf of clients.


4) Name of the registered holder(s) and, if more than one holder, the
number of shares held by each of them

Chase Nominees Limited 1,982,188
Nortrust Nominees 669,245
BoNY Nominees 412,473
State Street Nominees 115,094
Mellon 37,000
Pictet 34,000

5) Number of shares/amount of stock acquired

950,000

6) Percentage of issued class

1.47

7) Number of shares/amount of stock disposed



8) Percentage of issued class



9) Class of security

Ordinary shares of 1.5625p each

10) Date of transaction

20 January 2005

11) Date company informed

24 January 2005

12) Total holding following this notification

3,250,000 ordinary shares

13) Total percentage holding of issued class following this notification

5.05%

14) Any additional information


15) Name of contact and telephone number for queries

Debbie Fish
Tel: [phone]

16) Name and signature of authorised company official responsible for
making this notification

Debbie Fish
For and on behalf of F&C Management Limited, Secretary


Date of notification: 24 January 2005




This information is provided by RNS
The company news service from the London Stock Exchange
END

HOLUSRORVWRAUAR

[praipus] 21/1/2005 11:05

Discount narrowing to 10/13% now would be interesting to see the effect if Ecofin capital shares ECWC were to do the same.

[purse] 21/1/2005 08:23

price continues it's slow rise, with the CULS & ZDP shares also improving.
Could hopefully reach the price at the time of the fund raising soon.

[praipus] 20/1/2005 14:42

NAV £1.62

[praipus] 19/1/2005 16:53

RNS Number:0431H
Utilico Investment Trust PLC
05 January 2005

The top ten holdings and all holdings over 5% of gross assets as at 31 December
2004 were:


Stock % of Gross
Assets

Infratil Limited 13.7%
International Energy Group Limited 10.1%
Utilico Limited* 8.3%
East Surrey Holdings plc 8.2%
ERG Limited 7.2%
Simon Group plc 6.6%
Ecofin Water & Power Opportunities plc 5.9%
Jersey Electricity Company Limited 5.8%
Belco Holdings Limited 3.8%
Unique Flughafen Zurich AG 3.7%


*100% owned subsidiary holding Infratil Limited ordinary shares

[praipus] 13/1/2005 17:16

RNS NAV £1.61

[praipus] 12/1/2005 10:50

Have added a link to Utilico's web site to the header.

December monthly report and fact sheet available now well worth a read.

[praipus] 22/12/2004 10:32

Discount narrowing long over due IMHO.

[purse] 22/12/2004 08:06

Very good price development over recent days.
Yesterday saw 2 x 1million shares purchased.
Utilico is being noticed, the CULS & Warrants have also beeen increasing.

[praipus] 07/10/2004 15:19

From Investors Chronicle I believe Utilico have a holding in IEG

from

"International Energy Group is being targeted by shareholder activists lookin to release value, says the Mail on Sunday. Accordin to the newspaper, the potential value of the gas connection business, Gas Transportation Company, is believed to have attracted investors, including investment trust Ecofin Water & Power Opportunities, which recently raised its stake to 10 per cent. Ecofin invests in utility companies, mainly for their dividend yield, but it also has a successful history of taking stakes in businesses and encouraging corporate change and a return of value to shareholders."

[praipus] 07/10/2004 12:44

Load of cash on its way from ESH share sales any guesses as to where it goes? More ECWC?

[praipus] 05/10/2004 14:05

Mangal, Agree completely.

Your post:

mangal - 2 Oct'04 - 10:54 - 791 of 803


Further to my post 788

I have recently been looking at the warrants of Utilico(UILW) because there has been heavy buying of these by one its director through \"General Provincial Life Pension Fund \" – they now hold over half the issued warrants. Utilico is a Split Trust & so the structure of the warrants is a bit more complicated than that of the usual plain vanilla IT-warrants. Each warrant entitles the holder to subscribe for 0.64 of an Ordinary Share and 0.45 of a ZDP share at a subscription price of 100p- exercisiable on 30 April and 31 October each year until 30 April 2008. So valuing the warrants is rather difficult but my back of the beer mat calcs indicate that underlying is already trading well above the exercise price.

0.45 of current Zeros price(100) = 45p
0.64 of current Ords price (103) = 66p
So, Price of underlying ........ =111p

However, there is a further complication because there are some 20m CULS (almost the same as the no of warrants) that entitle the holders to convert them into the ords on a 3 for 4 basis; however these would not come fully into play until well after the expiry of warrants – more than a year after (Oct 2009). Even if the CULs were taken into account I reckon the underlying valuation would still be well above the exercise price:

0.45 of "guaranteed" NAV of Zeros at Apr08(130) = 58p
0.64 of current NAV of Ords (assuming no growth & 20% CUL dilution) (120p) = 61p
So, NAV of underlying = 119p

So I think UILW offers excellent value for the long term.

[mangal] 05/10/2004 11:11

Praipus, If you believe that ords of this are undervalued then I think the warrants(UILW) are excellent value. See my post #791 on the warrant thread(WT).