Victrex Share Discussion Threads

[praipus] 05/9/2012 16:20

OAP1, OAP2, OAP3, OAP4

from RNS "RECOMMENDED PROPOSALS TO MERGE THE COMPANIES (TO BE COMPLETED PURSUANT TO SCHEMES OF RECONSTRUCTION UNDER SECTION 110 OF THE INSOLVENCY ACT 1986), AN ENHANCED BUYBACK FACILITY, AN OFFER FOR SUBSCRIPTION BY APOLLO 3 AND RELATED MATTERS "



Buyback doesnt seem to have the same meaning as redemption or tender offer in VCT world or have I missed something?

[praipus] 08/8/2012 12:01

Any views on this move?

[praipus] 07/8/2012 16:45

lol... your computer must be even slower than mine.

[jaws6] 06/8/2012 12:59

will try to find it later.
Do not look there any more. lost interest.but will check for me too.

[praipus] 06/8/2012 12:53

Thanks J which ones? Do you know their EPIC codes/symbols?

[jaws6] 06/8/2012 12:27

p
got Maven income and growth,spark and 2 more will find later

[praipus] 06/8/2012 11:16

Thanks Skyship it's the shere number of VCT's trading at huge discounts that caught my eye.

[jaws6] 06/8/2012 10:36

praius
Will look up later.Even can not remember .
They change name so many time.

[skyship] 06/8/2012 10:34

P - Good idea for a VCT thread; though from what I've seen I'll stick to my Private Equity plays, as per the PE thread.

Holdings there now APEF, HPEQ, NRI & PIN + a small holding in SPPC.

[praipus] 27/7/2012 09:09

Morning jaws6, you said in a previous post you had a few VCT's care to share them with the BB?

[jaws6] 27/7/2012 08:58

Tks.
I did miss that .I have got few PEQ.

[praipus] 27/7/2012 08:42

PEQ holds a large selection of US VCT's covering some 500 or so underlying Tec companies, annual report:

[praipus] 17/7/2012 10:44

Thanks Cerrito AAEV chart added to post 2.

[cerrito] 16/7/2012 21:09

Thank you Praipus for setting up this thread.
Coincidentally today received the hard copy of the annual report of the two Proven VCT's I am in as well as Albion Enterprise VCT.-AAEV.
Cannot recommend anyone buying AAEV at the moment...not that there is anything per se wrong with it..there is just much better value elsewhere.
The VCT in the last couple of weeks has bought back 3% of its shares which means that the price has gone up from 65.5/68.5 at end of June to 74/76.5p now which given that the 31.3.12 NAV was 84.9p means that the discount must be one of the smaller of the VCT's
In the FY to 3.12 NAV went down from 87.1p to 84.9p, coincidentally matching the 3p dividend.
Rather a boring VCT-not too much wrong with that; £28m of total assets of which £7m+ is cash/short term investments. Of the £20m proper investments 16 make up £14m of asset backed and £7m of growth.
Interesting that one of the investments they are more enthused about is a pub company in the North of England...generally speaking the quoted pub companies have found the North rather hard going.
Will post anything exciting in the Proven VCTs.

[praipus] 13/7/2012 12:13

Hmm see what you mean they do seem to be at some discount to NAV but its not easily verifiable and I guess the spread reflects the risk element.

[tiltonboy] 13/7/2012 10:45

Praipus,

A 20p spread and no liquidity means they are both non-starters!

[praipus] 13/7/2012 10:24

Thanks again Tiltonboy and Jaws6

RNS for VCT's that caught my eye includes

ILV1 Ingenious Live VCT 1 plc Winding-Up Circular


ILV2 Ingenious Live VCT 2 plc Winding-Up Circular

[jaws6] 12/7/2012 15:14

G luck.
got few vct .will check in w end.

[tiltonboy] 12/7/2012 15:12

The trust is in the process of restructuring it's portfolio, and in particular to sell down some of it's large legacy holdings, with re-investments being directed to later-stage, income-producing, growth companies.

The managers announced in the May 31st report that they had seen interest in a number of portfolio companies. They do however point out that in some of the legacy holdings, interest is at a level below their carried valuation.

In it's interim statement released yesterday, it was announced that the 4th largest holding in the portfolio (7% of NAV) had been sold at above book value.

The Board is reviewing the possibility of an enhanced buy-back scheme which could enable shareholders to sell some of their shares and reinvest in new shares issued by the company.

There has been a persistent buyer for the last couple of months, and the shares have made steady progress. If further sales of legacy holdings can be made at levels relatively close to the carried value, I think we could see a further re-rating.

[praipus] 12/7/2012 14:30

Hi tiltonboy, thanks. Ortus VCT ORT 53% discount! Chart added to post 2 link in header. Any plans to narrow the discount or explosive growth hidden in the portfolio you can tell us about?

[tiltonboy] 12/7/2012 14:15

Excellent idea to start a thread. I have mentioned it elsewhere, but Ortus VCT has attractions, and would ask if you could add to the header.

[praipus] 12/7/2012 14:08

AATG "Reduction in share capital and cancellation of capital redemption and share premium reserves"

Not quite sure of the signifcance of this but they trade at a 22% discount!

[praipus] 12/7/2012 12:17

How can you tell which VCT's are likely to offer a share buy back facility?

I've read that most businesses fail in their first two years in the UK and only 35%last five years or more in the USA.

How many VCT's should you have in your portfolio to counter this and make a profit?

[praipus] 12/7/2012 12:08

Charts of VCT discussed so far:

OXT


OTT


OAP# Octopus Apollo VCT's 1,2,3,4





NCC


FTFC


Crown Place VCT CRWN


Kings Arms Yard KAY


Albion Technology & General VCT PLC AATG


Ortus VCT ORT See post 12 for more info.


ILV1 Ingenious Live VCT 1 plc


ILV2 Ingenious Live VCT 2 plc


AAEV Albion Enterprise VCT plc


PEQ Private Equity Investor plc


FTV Foresight VCT PLC


Downing Income VCT 4 DI4o


Maven MAV4

[praipus] 12/7/2012 12:06

On the 12 July 2012 of 136 VCT's 110 trade at a discount to their NAV and 26 seemingly trade at a premium.