ZPG Share Discussion Threads

[soysoy] 06/8/2005 11:19

Net Asset Value(s)

THE ZERO PREFERENCE GROWTH TRUST PLC

The Company announces that the mid price Net Asset Values at 31 July 2005 were:

per Ordinary unit 59.97p

per Growth share 7.52p

per Zero Dividend Preference share 52.45p

Gross assets less current liabilities ?13.01m


The Company has drawn down ?3,320,000 under its ?6,000,000 loan facility with
The Bank of Scotland.

Fair value of the debt is not materially different from the par value, so no
additional Fair Value NAV is required.



END

[tiltonboy] 30/7/2005 19:43

Glynne,

Welcome from the Cayo´s!!!

Have you taken into account interest on the loan? 6% growth is possibly feasible if markets hold up, but getting 6% will not be enough to cover interest charges and management charges, and still get much asset value for the growth shares.

There is an accrual of 12% on the Zero´s, so the current NAV of the Growth Shares does not reflect a true picture.

Too high, not too low!!!!!

If the market continues to rise, and the management performs, you have got some chance, but do not bank on the current NAV.

tiltonboy

[tiraider] 30/7/2005 10:55

GF;
I didn't think ADVFNs numbers were correct either. Thanks for the info.
Off on hols now, will have another look at figures when I get back.
Good luck
rgds
tr

[glynnef] 30/7/2005 06:41

re post 110

tiraider,

Yes, I am using the right number of shares. My holding just happens to be in the ratio of 5:1, zpg:zpgz. But I don't think you have the right share numbers. I just checked the June factsheet issued by BFS and it shows 14.2M ZPGZ and 30M ZPG.

When I did the calc it went like this :
gross assets of £13.086M.
6%pa growth for 3 years gives £15.58M.
£10.66M to the ZPGZ holders and £3.47 loan repayment leaves £1.46M for the ZPG holders.
£1.46M / 30M = 0.49p each.

hopefully correct - happy to be corrected if there is an error.

regards,
GF.

[soysoy] 29/7/2005 15:04

THE ZERO PREFERENCE GROWTH TRUST PLC

On 25 July 2005 the Company decreased the total amount drawn down under The
Bank of Scotland loan facility by ?150,000 to ?3,320,000. The Company is
currently eligible to draw down a maximum of ?6,000,000 under the loan
facility.

[soysoy] 29/7/2005 11:34

just bought another 100,000
who bought the other

[soysoy] 29/7/2005 09:26

per Growth share 7.38p
what does this have to be to make profit on this

[tiraider] 28/7/2005 18:47

THE ZERO PREFERENCE GROWTH TRUST PLC

The Company announces that the mid price Net Asset Values at 26 July 2005 were:

per Ordinary unit 59.74p

per Growth share 7.38p

per Zero Dividend Preference share 52.36p

Gross assets less current liabilities ?12.95m

The Company has drawn down ?3,470,000 under its ?6,000,000 loan facility with
The Bank of Scotland.

Fair value of the debt is not materially different from the par value, so no
additional Fair Value NAV is required.
END

[tiraider] 26/7/2005 09:58

GF;
Do your calcs take into account the number of ZPGs that were cancelled in the restructuring last year?
According to ADVFN, there's now 47.09m ZPGs and 30m ZPGZ's.

The original ratio of 5:1 no longer exists.
rgds
tr

[glynnef] 25/7/2005 11:02

I have ZPG and ZPGZ, 5 ZPG bought at 3.2p for each ZPGZ.
The number I am focussed on is the growth in gross assets over the next 3 years and the subsequent effect on the NAV.
6% pa growth in assets should value ZPG at around 4.9p in 3 years time by my calculation, after paying the zeros in full. 1% more or less than this affects the ZPG NAV in Aug 08 by about 1.5p higher or lower respectively. Highly geared.
Both ZPG and ZPGZ seem fairly priced to me currently.

regards,
GF.

[tiltonboy] 22/7/2005 15:46

tiraider,

True NAV is still zero. Remember the Zero´s accrue at 12% per annum.

tiltonboy

[tiraider] 21/7/2005 20:02

If the same happens again (the signs are that it will) each time the price rose to narrow the gap with the NAV, the NAV also rose again and again....

I'm expecting a steady rise now up to 6p. However if that NAV also increases the target (6p) will also increase.

SOON? over the next few months more probably.
rgds
tr

[soysoy] 21/7/2005 19:41

SO IT SHOULD BE ABOUT 6-5P ISH SOON

[tiraider] 21/7/2005 17:45

It's almost exactly at a 50% discount to NAV now, a 20% discount would be reasonable, so a rise to 5.85ish is not too far away. That would be a 60% rise.

[soysoy] 21/7/2005 17:37

Doing well

[tiraider] 21/7/2005 17:22

and this one

THE ZERO PREFERENCE GROWTH TRUST PLC

The Company announces that the mid price Net Asset Values at 19 July 2005 were:

per Ordinary unit 59.55p

per Growth share 7.31p

per Zero Dividend Preference share 52.24p

Gross assets less current liabilities ?13.07m

The Company has drawn down ?3,470,000 under its ?6,000,000 loan facility with
The Bank of Scotland.

Fair value of the debt is not materially different from the par value, so no
additional Fair Value NAV is required.
END

[tiraider] 18/7/2005 08:09

You missed this one!!

THE ZERO PREFERENCE GROWTH TRUST PLC

The Company announces that the mid price Net Asset Values at 12 July 2005 were:

per Ordinary unit 59.31p

per Growth share 7.19p

per Zero Dividend Preference share 52.12p

Gross assets less current liabilities ?13.01m

The Company has drawn down ?3,470,000 under its ?6,000,000 loan facility with
The Bank of Scotland.

Fair value of the debt is not materially different from the par value, so no
additional Fair Value NAV is required.

END

[soysoy] 14/7/2005 12:28

no problem

[tiraider] 14/7/2005 12:00

Hi soysoy,
chart is looking good for a further period of positive movement. I bought back in again Tuesday as well as Mr Ball! I wonder who's idea it was first?
thx for posting the RNS - on a quiet thread it doesn't disrupt anything.
rgds
tr

[soysoy] 14/7/2005 11:51

NOTIFICATION OF TRANSACTIONS OF DIRECTORS

This form is intended for use by anissuer to make a RIS notification required
by DR 3.1.4R(1).

(1) An issuer making a notification in respect of a transaction relating to the
shares or debentures of the issuer should complete boxes 1 to 16, 23 and 24.

(2) An issuer making a notification in respect of a derivative relating the
shares of the issuer should complete boxes 1 to 4, 6, 8,13, 14, 16, 23 and 24.

(3) An issuer making a notification in respect of options granted to a director
/person discharging managerial responsibilities should complete boxes 1 to 3
and 17 to 24.

(4) An issuer making a notification in respect of a financial instrument
relating to the shares of the issuer (other than a debenture) should complete
boxes 1 to 4, 6, 8, 9, 11, 13, 14, 16, 23 and 24.

Notification of Transactions of Directors/Persons Discharging Managerial
Responsibility and Connected Persons

Please complete all relevant boxes should in block capital letters.

1. Name of the issuer 2. State whether the notification
relates to (i) a transaction
notified in accordance with DR
3.1.4R(1)(a) ; or

(ii) DR 3.1.4(R)(1)(b) a disclosure
made in accordance with section 324
(as extended by section 328) of the
Companies Act 1985; or

(iii) both (i) and (ii)

THE ZERO PREFERENCE GROWTH TRUST BOTH
PLC

3. Name of person discharging 4. State whether notification relates
managerial responsibilities/ to a person connected with a person
director discharging managerial
responsibilities/director named in
3 and identify the connected person

MR GRAHAM BALL N/A

5. Indicate whether the notification 6. Description of shares (including
is in respect of a holding of the class), debentures or derivatives
person referred to in 3 or 4 or financial instruments relating
above or in respect of a to shares
non-beneficial interest

HOLDING OF MR GRAHAM BALL UNITS (COMPRISING ONE ZERO DIVIDEND
PREFERENCE SHARE AND ONE GROWTH
SHARE)

7. Name of registered shareholders 8 State the nature of the transaction
(s) and, if more than one, the
number of shares held by each of
them

NCL NOMINEES PURCHASE

9. Number of shares, debentures or 10. Percentage of issued class acquired
financial instruments relating to (treasury shares of that class
shares acquired should not be taken into account
when calculating percentage)

30,000UNITS 0.1% OF THE GROWTH SHARES

0.21% OF THE ZERO DIVIDEND
PREFERENCE SHARES

11. Number of shares, debentures or 12. Percentage of issued class disposed
financial instruments relating to (treasury shares of that class
shares disposed should not be taken into account
when calculating percentage)

N/A N/A

13. Price per share or value of 14. Date and place of transaction
transaction

60.5pPER UNIT 13/07/05

15. Total holding following 16. Date issuer informed of transaction
notification and total percentage
holding following notification
(any treasury shares should not
be taken into account when
calculating percentage)

30,000 GROWTH SHARES - 0.1% 13/07/05

30,000 ZERO DIVIDEND PREFERENCE
SHARES - 0.21%

[soysoy] 14/7/2005 11:50

NOTIFICATION OF TRANSACTIONS OF DIRECTORS

This form is intended for use by anissuer to make a RIS notification required
by DR 3.1.4R(1).

(1) An issuer making a notification in respect of a transaction relating to the
shares or debentures of the issuer should complete boxes 1 to 16, 23 and 24.

(2) An issuer making a notification in respect of a derivative relating the
shares of the issuer should complete boxes 1 to 4, 6, 8,13, 14, 16, 23 and 24.

(3) An issuer making a notification in respect of options granted to a director
/person discharging managerial responsibilities should complete boxes 1 to 3
and 17 to 24.

(4) An issuer making a notification in respect of a financial instrument
relating to the shares of the issuer (other than a debenture) should complete
boxes 1 to 4, 6, 8, 9, 11, 13, 14, 16, 23 and 24.

Notification of Transactions of Directors/Persons Discharging Managerial
Responsibility and Connected Persons

Please complete all relevant boxes should in block capital letters.

1. Name of the issuer 2. State whether the notification
relates to (i) a transaction
notified in accordance with DR
3.1.4R(1)(a) ; or

(ii) DR 3.1.4(R)(1)(b) a disclosure
made in accordance with section 324
(as extended by section 328) of the
Companies Act 1985; or

(iii) both (i) and (ii)

THE ZERO PREFERENCE GROWTH TRUST BOTH
PLC

3. Name of person discharging 4. State whether notification relates
managerial responsibilities/ to a person connected with a person
director discharging managerial
responsibilities/director named in
3 and identify the connected person

MR GRAHAM BALL N/A

5. Indicate whether the notification 6. Description of shares (including
is in respect of a holding of the class), debentures or derivatives
person referred to in 3 or 4 or financial instruments relating
above or in respect of a to shares
non-beneficial interest

HOLDING OF MR GRAHAM BALL GROWTH SHARES

7. Name of registered shareholders 8 State the nature of the transaction
(s) and, if more than one, the
number of shares held by each of
them

NCL NOMINEES PURCHASE

9. Number of shares, debentures or 10. Percentage of issued class acquired
financial instruments relating to (treasury shares of that class
shares acquired should not be taken into account
when calculating percentage)

150,000 GROWTH SHARES 0.5% OF THE GROWTH SHARES

11. Number of shares, debentures or 12. Percentage of issued class disposed
financial instruments relating to (treasury shares of that class
shares disposed should not be taken into account
when calculating percentage)

N/A N/A

13. Price per share or value of 14. Date and place of transaction
transaction

3.70pPER GROWTH SHARE 13/07/05

15. Total holding following 16. Date issuer informed of transaction
notification and total percentage
holding following notification
(any treasury shares should not
be taken into account when
calculating percentage)

180,000 GROWTH SHARES - 0.6% 13/07/05

30,000 ZERO DIVIDEND PREFERENCE
SHARES - 0.21%

[soysoy] 08/7/2005 20:18

THE ZERO PREFERENCE GROWTH TRUST PLC

The Company announces that the mid price Net Asset Values at 5 July 2005 were:

per Ordinary unit 58.97p

per Growth share 6.96p

per Zero Dividend Preference share 52.01p

Gross assets less current liabilities ?12.93m


The Company has drawn down ?3,470,000 under its ?6,000,000 loan facility with
The Bank of Scotland.

Fair value of the debt

[soysoy] 06/7/2005 18:39

THE ZERO PREFERENCE GROWTH TRUST PLC

The Company announces that the mid price Net Asset Values at 30 June 2005 were:

per Ordinary unit 58.83p

per Growth share 6.91p

per Zero Dividend Preference share 51.92p

Gross assets less current liabilities ?12.90m


The Company has drawn down ?3,470,000 under its ?6,000,000 loan facility with
The Bank of Scotland.

Fair value of the debt

[soysoy] 24/6/2005 08:51

THE ZERO PREFERENCE GROWTH TRUST PLC

The Company announces that the mid price Net Asset Values at 21 June 2005 were:

per Ordinary unit 58.52p

per Growth share 6.75p

per Zero Dividend Preference share 51.77p

Gross assets less current liabilities ?12.83m


The Company has drawn down ?3,470,000 under its ?6,000,000 loan facility with
The Bank of Scotland.

[soysoy] 23/6/2005 15:06

THE ZERO PREFERENCE GROWTH TRUST PLC

Board appointment and resignation

The Company is pleased to announce that Mr Graham Ball has accepted an
invitation to join the Board as a non-executive Director with effect from 23
June 2005.

Mr Ball is a director of Kiln Plc.

There are no other details required to be disclosed pursuant to paragraph 6.F.2
(b) to (g) of the UKLA Listing Rules.

As indicated in the Chairman's report contained within the Company's Annual
Report & Accounts for the year to 31 July 2004, it is confirmed that Mr Reid
has resigned as a Director of the Company