alandwd
19 Dec 2019
Time to cash in some profits? The discount on these wavered around 20-25% for years, especially directly after the Referendum in June 2016. Suddenly, with a new government and general euphoria, it has dropped to 2%. To me, that makes these a sell. Never, ever seen that kind of discount on this IT.
alandwd
21 Nov 2016
Re: Discount since forever Be patient. These are a good deal right now at 20% discount. It's unlikely to get much worse and there are often subscription shares or tender offers to keep you going. UK Smaller companies are a good deal at this exchange rate.
Johandesilva
12 Nov 2016
Discount since forever Not a sellig point if the discount will never close.
Calvin D
26 Feb 2015
Re: I still don't understand...help ? June 2017
livewire
26 Feb 2015
Re: I still don't understand...help ? Thanks for that response. The bonsus subscription shares get delisted at the end of June so they havent much time to reach the NAV or beyond ; and as this IT has run at a discount for a long time it looks very unlikely they will NAV by end of June . Better sell them whilst they have some value.Do you think JPMorgan has said they will buy these back from the dealers at 40p; so that they have some value ? It would explain the spread. Also it would mean that they have some value.B
Calvin D
26 Feb 2015
Re: I still don't understand...help ? Part 2-Sorry missed a bit. A quite important bir. "The price of shares can go down as well as up"If the share price falls and there is a market feeling that the 915 will never be reached then the value of these will be vitually worthless.
Calvin D
26 Feb 2015
Re: I still don't understand...help ? Basically you are buying a promise to be at the current NAV of 915. If the share price goes up to the NAV say next year then these could be worth say 20p.(40p for 2 year therefore 20p for 1 year) plus the chance that it will rise another £1.50 in 2016-17. So these would be worth £1.70 (depending on market obviously). As the time to expiry approaches these sub shares will be the difference between 915 and the current share price plus a value for the time left.Obviously you can trade these and sell them at any point - you don't have to excercise them.Look at the India Sub shares from a couple of years ago and compare to the actual share ones.JII and JIIS
livewire
25 Feb 2015
Re: I still don't understand...help ? I gave JP morgan a call and they just read out the prospectus. Hoping for more illumination here !!Also ChuManFoo said they likely to be volatile ... but why ... who would buy them ? Infact the price rose today why ?
livewire
25 Feb 2015
Re: I still don't understand...help ? But why are they volatile ... who would buy them ? at the current price ?
ChuManFoo
25 Feb 2015
Re: I still don't understand...help ? The subscription shares are trading at around 40p each today. Haven't received mine yet but I will sell in the next week or so. They are too volatile for me.
PMP1
25 Feb 2015
Re: I still don't understand...help ? The way I see it you can buy the shares for 915p between the last Business Day of each month commencing in March 2015 and finishing on the last Business Day in June 2017, after which the Subscription Share Rights will lapse. Obviously if the share price is less than 915p you wouldn't bother. Give JPMorgan a call to explain it to you.
livewire
25 Feb 2015
Re: I still don't understand...help ? I good dog walk (lovely) and I can answer my own question. I guess that they set a price for selling the subscription shares at say 12p (guess) and then thats what everyone will do. If the share price of JMI rises above the 915p +12p level then the price on the open market of the subscription shares might rise above 12p .Tell me whether I am right or wrong !!
livewire
25 Feb 2015
I still don't understand...help ? Why would anyone want to exercise their subscription rights for the bonus shares ? The price at the moment is 765p and the subscription price is 915p. So why are they doing this and calling it a bonus share subscription ? It appears to be a pointless exercise; for everyone.Or am I getting this wrong ??from the news feed....In accordance with the terms of the Subscription Shares set out in the prospectus published by the Company dated 23 January 2015, the Subscription Price is set at 915 pence, being the average of the Company's unaudited published Net Asset Value per Ordinary Share at the close of business on the five dealing days ending on 23 February 2015, rounded up to the nearest whole pence. Each Subscription Share will confer the right (but not the obligation) to subscribe for one Ordinary Share on exercise of the rights under the Subscription Shares and on payment of the Subscription Price
livewire
04 Feb 2015
Re: Bonus share subscription From your answer it appears that the benefits of these are likely to be unpredictable. I suppose they also might well cause the share price to fall rather than rise. why does an IT distribute money to shareholders in this way ? Why dont they just pay a special divi ?
ChuManFoo
30 Jan 2015
Re: Bonus share subscription You receive the subscription shares which gives you the right to buy more shares at a specific price, but you can sell them in the market if you like. So, for example if you have a right to buy some at £7.50 the market price of the subscription shares may be about 30p say. I have had these things before and always sell them.Bear in mind the value of the subscription shares will be very volatile, you may see them double or half in value over short periods of time.
