marktime1231
07 Jul 2017
Redemption The redemption of AGIT has come through today as a capital lump at 251.34 as expected.A reward for backing my instincts that this was plainly undervalued at 190p going in to the cancellation programme, and brave luck to hang on for the final 5%. Nice to have something to cheer at the end of a week where I have gotten grumpy with a couple of picks.The new stock ASIT (not ASLIT sorry how rude) is parked at a 3% discount to its launch, and some of its major holdings appear to be having a choppy time, so I will wait and see what to invest in next. Quite impressed with Aberforth though.Nice to now have a serious cash pile to hand, up to around 20%, and my annual trading target is already within reach of announced dividends/interest payments.So I will be tracking perceived value opportunities in otherwise reliable high dividend payers. A time to be prudent and patient, which qualities are not my long suits.
marktime1231
26 Jun 2017
Re: AGIT kerching option PR NewswireLondon, June 26Aberforth Geared Income Trust plc ("AGIT"
The Net Asset Values ("NAVs" for the above Company as at the close of business on 23 June 2017 were:- Ordinary Share (excluding current year revenue) = 250.92pOrdinary Share (including current year revenue) = 251.50pZero Dividend Preference Share = 159.53p
holland44
26 Jun 2017
Re: AGIT kerching option Have you seen an announcement on the 251.5 figure, or are you just using the RNS for 23 June? I can't see anything on the Aberforth website.
marktime1231
26 Jun 2017
AGIT kerching option As I understand the timetable the cash-in value of AGIT was determined by the NAV at close on 23 June and was reported to be an all-in 251.50p, from which there will be a fractional deduction for administrative costs. Pay date is 7 July.That is a 13p premium on the 238p I was offered to sell out before the shutters came down two weeks ago. I decided to gamble and hang on for the extra 5% but I can see why people sold up as it has been a bit choppy in the meantime.I will now sit and wait to see how ASLIT prices or look for a bargain to appear, maybe back in to NG or MKS or UU or SBRY which look like value again; or a short term punt on CARD for the special divi.
PIE-EATER
07 Jun 2017
Re: Selling now at a discount - eh? That's one factor, along with Comey giving evidence in the US tomorrow as well, plus a possible delayed sell in May effect (May historically quite good recently but June 2nd worst month in calendar of late) plus start of "real" Brexit negotiations getting closer etc etc. Correction due on considerable profits since last June - smaller companies have had really good ride this calendar year in particular.
holland44
06 Jun 2017
Re: Selling now at a discount - eh? Election jitters too?
PIE-EATER
06 Jun 2017
Re: Selling now at a discount - eh? Sold out at 247 this morning.....a bird in the hand etc as getting a bitty choppy on the smaller company seas given the short timeframe to conversationPE
marktime1231
30 May 2017
Re: Wow ... the AGIT which keeps in givi... Exactly - the opposite style of investment and for the reasons you have set out, waiting to see which way things go.
PIE-EATER
30 May 2017
Re: Wow ... the AGIT which keeps in givi... Interesting choice.....don't get me wrong RICA is a fine vehicle but in so many ways the exact opposite of AGIT and ASLT (which will effectively be a lower grading version of AGIT with predominantly the same holdings). If you were apparently so happy with AGIT then RICA is just a bit of a surprise (please note - not saying WRONG, just a surprise)Think quite a few people will be taking cash and holding waiting for ASLT to move to a reasonable discount then buying in to take advantage of small / micro cap bias which is currently flavour of the month in UK. PE
marktime1231
30 May 2017
Re: Wow ... the AGIT which keeps in givi... Thanks, I have decided to sell up rather than roll into SLIT, I will take the splendid gain and park the core capital in RICA at least for the time being.
PIE-EATER
29 May 2017
Re: Can you explain Pretty sure I read that subject to those wanting cash, holdings would be largely rolled over into new fund, so the required extent of sales will be mitigated. Basically market risk....don't forget June 8th! (or should I say 9th?)
vitabrevis
24 May 2017
Re: Wow ... the AGIT which keeps in giving Marktime1234.... in answer to your query, you would not be liable for CGT if you rollover from AGIT to ASLT
holland44
23 May 2017
Re: Can you explain See other recent discussions below: there is probably still a discount on the shares because of the risk of a slump between now and wind-up date. For example, what if Labour win the election? Or if one if AGIT's largest holdings issues an unexpected profit warning e.g Vesuvius India blows up? (sorry, couldn't resist it)"Close to NAV" at windup may just mean they will do their best to sell up at good value, but perhaps some investments are in fairly illiquid markets where it could be tricky to find a buyer if you tried to sell your holding all in one go. One would hope AGIT management will take steps to mitigate this risk, but I don't really know. Have you thought of ringing AGIT and asking them?
marktime1231
22 May 2017
Can you explain "at close to NAV" I have just been reading the wind-up and ASLIT proposals, and I do not understand what it means when Aberforth say that the cashing in option for ordinary shareholders provides the opportunity to sell up "at close to NAV".Other than the administrative costs of winding up which are estimated to be about 0.36p, why not at NAV? Anything less would feel like a swizz.And why are shares still available to buy today at 241p when NAV is 254p?
PIE-EATER
19 May 2017
Re: Selling now at a discount - eh? Really depends on your view of markets.....lets not forget markets have gone up a lot and Trump's honeymoon period is now well and truly over as of Tuesday. If Wall Street has a major wobble in the next 6 weeks, so will we.....and this will fall.Perhaps people are just content to take gains (and divi) so far and have cash for now.FWIW, haven't sold.PE
