San Jaime
09 Feb 2017
Re: Tender Offer - Cheque now arrived Cheque cleared today so looking to buy back in only to see a 20p rise - bad timing.
alandwd
05 Feb 2017
Re: Tender Offer - Cheque now arrived Last time buying back in immediately was a bad deal. Even ignoring the massive fall that occured a few years after, these yoyo-ed at the 6-700p for a long time. Plus the discount has temporarily fallen to about 11% now, which is not that appealing to me.I may get it wrong, but what I've decided to do is kick off the monthly savings again via iii (I stopped in December after the tender) and switch into a couple of trusts on much more appealing discounts. Schroder Mid-cap is definitely one of them at the current discount of nearly 20%
San Jaime
05 Feb 2017
Re: Tender Offer - Cheque now arrived Good News 
iscovered on arriving back home last evening, after a day out, that the Tender Offer cheque arrived in the post around Saturday lunchtime. Bad News :So now have to pay it in on Monday and wait for clearance so may have the funds available around a week later than you guys who hold via CREST.Meanwhile I bet the price rises a few percent before being able to buy back in.Portfolio is 50% paper certificated shares and 50% CREST with a Broker.The best performance is from the certificated shares which are a hassle to sell so have been held for years.(like DOM).CREST makes it too easy to go wheeling and dealing with the shares held with the Broker such that it has been far easier to lose money, on gut feel and 'hot' deals, that are supposed to be guaranteed winners.(like XEL).SJ PS - Average purchase price for DOM and XEL = 50p
redcoat1
03 Feb 2017
Re: Tender Offer Yup. I used the funds released to buy back BEE shares so I now own more than I started with and the price continues to rise with a significant discount. I do hope they keep the process going -it's like discovering perpetual motion!
Hang in to the bitter end
03 Feb 2017
Re: Tender Offer - Cheque not arrived ye... San Jaime,Looking at the timetable, cheques relating to the sale of certificated holdings were scheduled to be despatched today (3rd Feb). Seems silly though that they didn't send with new certificate. Could be an additional security measure I suppose.Hope you get it by tomorrow ....
San Jaime
02 Feb 2017
Re: Tender Offer - Cheque not arrived yet.... I sent in all my BEE Share Certificates for the Tender offer and was apparently successful.Today I have received a new Share Certificate with a considerably less number of shares, but no cheque was enclosed in the envelope for the number of shares that have been bought.Can other certificated shareholders confirm that Share Certificate following the the Tender Offer was received before the cheque ?Need I worry that the cheque for the settlement proceeds in respect of Tender Offer shares might have been 'lost in the post' or worse still intercepted or stolen ?I know that cheques falling into the wrong hands seem to be easily cashed nowadays.
alandwd
31 Jan 2017
Re: Tender Offer Hi there, yes, with iii I seem to have done about the same. I could buy the same number of shares again tomorrow and have an excellent profit left over. Also, BEE is on a 16% discount today according to morningstar, so the tender really hasn't had any effect and it looks quite a good deal.
Hang in to the bitter end
31 Jan 2017
Re: Tender Offer Not a bad result!40.5% of my holding was sold in the tender offer. Not sure how that's worked out but I'm happy that the "No Brainer" really was a "No Brainer"Hope you did as well Alan ....
alandwd
26 Jan 2017
Re: Tender Offer You're right, it's free money on the table compared to just holding the shares and doing nothing so the 53% just handed free money to the 47%. This not being seen to give advice regulation probably doesn't help those who don't understand what's going on too. Plus the directors probably don't want to be seen to be undermining the company by tendering theirs.I can't say too much, I have been guilty of missing IT tender offers before, mostly when it involved sending elections in by paper but me being away with work. Being able to respond immediately online has been a good thing in this regard.
Hang in to the bitter end
25 Jan 2017
Re: Tender Offer Alan,Though 47% have been tendered, I find it incredible that the other 53% haven't been tendered. Does this mean that people just don't manage their portfolios effectively so miss these "no brainer" offers. Or maybe some institutions do not keep their eye on the ball.Oh well ... the fewer that tender the more for the rest of us
alandwd
24 Jan 2017
Tender Offer Unsurprisingly, a massive number (47%) of the shares were tendered. I would imagine that'll surprise the big players a bit, who will find a lot of their portfolios not being realised the way they had hoped. The other thing I find interesting is how many people in nominee accounts bother or not, which we will find out in the coming days. Last time round I was able to cash in two-thirds of my holding due to others not taking up the offer.
San Jaime
12 Jan 2017
Re: End of Savings Scheme Advice taken.Tendered all my shares this time after missing out 3 years ago.Note that NAV is still over 100p more than sp today, despite tender offer influencing price recently.Interested to see take up this time round.
alandwd
04 Jan 2017
Re: End of Savings Scheme Hi, Yes, I'm disappointed too that I didn't invest when the discount widened to 18% and this was clearly a bargain. The sudden price rise in the week or two before the tender offer announcement suggests some knew it was coming too. Oh well, we basically have a tender offer at a similar price to that which we participated in 3 years ago. Nice profit, unless the market crashes.The other thing is, it's always worth tendering the full amount, especially in shared nominees it seems that some smaller investors have not realised how these tenders are a raid on their pockets by the city firms.
Hang in to the bitter end
03 Jan 2017
Re: End of Savings Scheme Hi again Alan,Yes have done likewise. Nice move from the board promising regular tenders again. I nearly topped up on the announcement when the sp rose to 685p .... but held off and now it's up a lot more. Still looks attractive though with the possibility of further tenders if the discount returns to over 12%. But with NAV over £8 it's a "No Brainer" again to tender for this at 97.5%NAVGood Luck .....
alandwd
03 Jan 2017
Re: End of Savings Scheme Interestingly, here they are back again with a new tender offer. I've tendered all mine and am hoping to exit as much as possible and buy back in when the discount widens again.
