Share Name Share Symbol Market Type Share ISIN Share Description
Woodford Patient Capital Trust Plc LSE:WPCT London Ordinary Share GB00BVG1CF25 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 34.35 34.20 34.30 0.00 0.00 - 0.00 00:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 0.0 -3.8 -0.5 - 312

Woodford Patient Capital Share Discussion Threads

Showing 11351 to 11370 of 11700 messages
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DateSubjectAuthorDiscuss
25/10/2019
17:53
What a hopeless list of sucker stock investments. Personally, I will be surprised to see them clear the overdraft, but haho there may be a bigger fool somewhere? Trouble is even the bigger fool theory doesn’t quite work as the seller is distressed and they know that. Even stupid bubble investors don’t buy popped bubbles if you see what I mean! Just look at the nonsense of Wework.
topvest
25/10/2019
17:41
Porsche - "Schroders are out for the buck, get real." That's fine, rest is poor form.
jonwig
25/10/2019
14:25
Schroders are not going to put a blot on their reputation just for some good income streams from WPCT. Without doubt they have discussed and scrutinised the portfolio and NAV would have been discussed with the trustees as part of the management selection process. I doubt any trustee would select a manager who is going to just make life easy by kitchen sinking at the expense of their own reputation. For that reason I think those who expect any great kitchen-sinking are going to be disappointed. I actually think that the NAV set for performance fees is a reasonable yardstick that Schroders will want to hit within 18 months/ 2 year period. I also think that the debt situation would have been sounded out and that the Schroder's board would have some conformation that, absent of any major unforeseen circumstances, that debt will not be an issue for rollover. If the NAV is reasonable, which I think there is more than a good chance that it now is, then there shouldn't be too much problem selling the portion held by WEIF. It now comes with a conservative, prudent manager with quality history. Looking to perhaps open a new position here soon.
minerve 2
25/10/2019
13:54
@jonwig - if Schroders had resolved the OD, they'd have had to RNS it I reckon. So no, that's ahead. Do they know how little IH and the other unicorns are worth? Most probably. Do they care? Why should they? Forget the red herring of the performance fee, they're in it for c.£5m/year of almost pure profit (they get trading costs etc on top). What's not to like? OK reputational damage, yes - but all to be blamed on Woody, and still the possibility of a major kitchen-sinking ahead of the name change to let them start from a lower base. What we know for sure - there's big hits to NAV to come on the WEIF forced sales. Further, there's some holdings to go bust due to lack of further Woodford money. There's big falls ahead in the c.63p NAV, just as there was in the c.90p NAV. Do Schroders see some winners that they want in, want to back via other funds, want to own themselves? Maybe, but that's largely irrelevant to managing WPCT, they don't own the holdings. Buy them cheap off WEIF. Might WPCT be a long when WEIF have sold their 9% overhang, sold off the stocks in common, and the OD is confirmed as renewed? Yes, quite possibly - but a lot lower than here. Realistically, you also want Schroders to be making new investments within (former) WPCT, rather than being lumbered with Neil's picks - but how can that happen? Any issuance, warrants or otherwise, is needed to repay debt. Not seen a full list of WPCT's holdings for yonks, but doubt it's changed much beyond the sales we know about (no more OSI, sold half Autolus). And I don't remember any potentially great investments. And there haven't been any so far. And now c.£5m/year to be taken out too.
spectoacc
25/10/2019
13:47
Spec - wouldn't Schroders have been given access to the books (eg. details on IH) once they were in the bidding circle? My point is that S will expect to make a profit and will know a hell of a lot that we don't. They'll also have sorted out the overdraft extension. It's obvious that we PIs here have called it right for years, but it's a different game now. Schroders might be able to do things, through City contacts which Woody couldn't. We can be certain that they will be working in their own interests. As for the market, WEIF is a seller, and a lot will be selling into the rally, so I wouldn't be surprised if the price fell back to 30. An innovative way to raise cash is via warrants: "Buy one warrant for 20p to exercise for one share at 50p over the next five years."
jonwig
25/10/2019
12:29
Suspect the meltdown in WPCT's NAV will be sooner than that - WEIF will be well advanced with "realising value" (ahem) from the unicorns, held in common with WPCT. The Oxford Nano float appears to be off (one of the few potentially good ones), Benevolent raised cash at half the previous valuation but - what value for the WEIF stake in it? For Rutherford? For IH? There's loads to come, and now c.£5m/year going out to Schroders too. The appointment of Schroders is undoubtedly good for WPCT in the short term as it has removed (hopefully) the withdrawal of the OD in January. But the terms of the new OD will be very interesting, set against a significantly lower NAV and far less liquid holdings (the good stuff, eg OSI, having been sold already).
spectoacc
25/10/2019
11:13
Put off your retirement? How much did you have in woodfords Sxxt?!!! Schroders will milk this for all its worth, a pigs trough for fees, they are one of the most expensive greedy managers out there, i should know I own both classes of their shares! Reality will dawn pretty quick and all the expensive failures can be hung on woodford while the fees are extracted, a pig is still a pig regardless of who is putting the lipstick on it. The real meltdown starts January as weif is unwound.
porsche1945
25/10/2019
10:06
Seems to be a lot of sour grapes out there. The involvement of Schroders is quite simply much better than expected news for all patient (long term) holders. At last the hope of achieving some sort of sensible value in 10 years..........just have to put off my retirement for a few more years. Who wants to retire anyway? Probably not Woodford but I guess he hasn't any other option - maybe move to Guernsey?
timnet
25/10/2019
09:17
Looks like the captain of the Titanic has been changed but the iceberg is still around.
schofip
25/10/2019
05:33
Citywire says there were lots of willing managers of the trust, Schroders won a competitive review: https://citywire.co.uk/investment-trust-insider/news/defiant-patient-capital-soars-29-as-schroders-steps-up/a1285102?ref=investment-trust-insider-latest-news-list Analysts are mixed, from 'buy' through 'hold' to 'sell'.
jonwig
24/10/2019
21:35
He could have invited them in and come back straight after easing himself. If he has assessed companies to have significant value growth he has to be extremely honest and transparent and reproducible quarterly
excav8
24/10/2019
21:18
He liked like he needed to go to the toilet desperately
smcni1968
24/10/2019
19:45
Can advfn admit that Panorama last night showed that Woodford was not prepared to be interviewed on this Trust. The main question is if valuations for the companies within are sound and bankable?
excav8
24/10/2019
19:39
SP has a story which, if only half true, is gut-wrenching. It suggests that WIM will have made £25m in year to 31/03 and paid the lot out in dividends to NW and CN. If liabilities (redundancies, etc.) were then settled, WIM could be wound up before Christmas and wouldn't need to file any accounts for the year past. You could say they've done a runner. His sale of WPCT shares to settle a tax bill looks even more incongrous.
jonwig
24/10/2019
18:51
Yes, trouble is that will cause problems with the debt.
topvest
24/10/2019
18:48
They aren't taking fees for a while. I reckon they may 'kitchen sink it' before properly declaring it a Schroder branded fund.
chinahere
24/10/2019
18:39
Maybe very deeply hidden! Call me old fashioned, but can anyone name a WPCT portfolio investment that is due to make a profit and positive cash flow in 2020?
topvest
24/10/2019
18:30
Schroders would have gone into this with their eyes wide open and presumably think their targets are achievable - and their targets have used a base of current NAV. Not rushing in to buy, but perhaps there is more value hidden inside than we thought.
dr biotech
24/10/2019
18:18
I’m genuinely surprised that Schroders want to be associated with this disaster. The downside is much worse for them than picking up a few million of fees. Schroders are a class outfit, which is something definitely not associated with WPCT. It’s obviously really good news for WPCT and maybe indicates that there may be some value. For those still owning shares, what a lucky break and another fantastic opportunity to exit for some value. I suspect there is a big portfolio write down coming before Schroders start charging their fees. Maybe the plan is to raise new equity and use this as a technology vehicle for Schroders. Maybe trying to catch up with Baillie Gifford? If I was a Schroders shareholder I wouldn’t be impressed.
topvest
24/10/2019
17:11
I’m genuinely surprised that Schroders want to be associated with this disaster. The downside is much worse for them than picking up a few million of fees. Schroders are a class outfit, which is something definitely not associated with WPCT. It’s obviously really good news for WPCT and maybe indicates that there may be some value. For those still owning shares, what a lucky break and another fantastic opportunity to exit for some value. I suspect there is a big portfolio write down coming before Schroders start charging their fees. Maybe the plan is to raise new equity and use this as a technology vehicle for Schroders. Maybe trying to catch up with Baillie Gifford? If I was a Schroders shareholder I wouldn’t be impressed.
topvest
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