strapuk
30 May 2017
Re: Share buy backs - feeding the broker... So total number of shares in Treasury is now over 4.5% of total share capital as at purchase of 26th May. Cost 38.3p per non-treasury share that would perhaps otherwise been available for distribution.
triceratops
05 Apr 2017
Re: Share buy backs - feeding the broker... RNS this morning from the investment manager might have helped? but they are only repeating what has been implied in their latest factsheet release.."MW Eaglewood has recently submitted to the Board for consideration a substantial Performance Enhancement and Discount Reduction Plan"They've already foregone some of their fee and have sanctioned a share buy back. None of it seems to be doing the trick.Personally I will be hoping the big shareholders push to get them replaced. Aside from the performance issues I find their press communications are garbled. I've been reading all the fact sheets and manager reports they put out and I'm none the wiser as to why the distributions have fallen so far short of what they projected. Tops
ovidian
05 Apr 2017
Re: Share buy backs - feeding the brokers! We should threaten them with redemption more often the price actually seems to have gone up today
triceratops
05 Apr 2017
Re: Share buy backs - feeding the broker... I agree with the two of you. Wind this company up, return our cash so we can give it to someone who can do the relatively simple task of loaning out money for a 6-8% return!I'm still scratching my head on this investment. The economy is doing reasonably well, all other vehicles I use for P2P. Savingstream, Funding circle, SMEF etc are doing exactly what they say they will.. why on earth is this doing so poorly BEFORE the credit cycle has even turned?frustrating!
ovidian
05 Apr 2017
Re: Share buy backs - feeding the broker... Well uniquely for an investment trust all the assets are effectively cash once the loans have been redeemed (minus any losses). The NAV could then be returned pro rata to shareholders who could use the money to invest elsewhere, e..g. in my case I'd be tempted to put more in Ranger Direct Lending which is targeting a 10% dividend. This won't happen though as people will be out of a job...
strapuk
05 Apr 2017
Re: Share buy backs - feeding the broker... You know what? That would a very good idea. I would certainly vote for it.
ovidian
05 Apr 2017
Re: Share buy backs - feeding the broker... To be honest I'd be happy for it to be wound up and we were just returned the money...
strapuk
04 Apr 2017
Re: Share buy backs - feeding the broker... Well they are now buying back in tranches of 50000 shares daily. 3.85% of issued shares now in Treasury at a cost of 32.2p for each non-treasury share - so that's 32.2p NOT available for dividends.From what I can see this buyback has made no difference whatsover to the share price. And now we have an RNS "reviewing the investment management arrangements" with Eaglewood.Read into that what you will. As per my previous post, there is something fishy going on here.
strapuk
22 Feb 2017
Re: Share buy backs - feeding the broker... They have the authority to buy back up to 14.99% of issued share capital and currently they have 2.97% in Treasury at a cost of 24.833p per non-Treasury share. (So that's 24.833p no longer available to pay as dividends).The average price they have paid so far is 810p per share.I also thought this was a less riskier way of participating in P2P loans - boy how wrong was I!? Currently over 21% down, and divs don't compensate. Something fishy is going on here and I can't work out what. Any ideas?
alpal
22 Feb 2017
Re: Share buy backs - feeding the brokers! There seems to be a lot of selling pressure so the buybacks are not having any effect.In my view, to maximise the benefit to shareholders, they need to decide how much the company will spend on repurchases and then have a dutch auction when shareholders can offer shares at their own price.
azzalyzarc
21 Feb 2017
Share buy backs - feeding the brokers! What's happening here?Daily share buybacks of small amounts - 25K - that will not influence discount. Until today's glorious 1380 !!!?? Nearer my trade size. Just generating broker fees?I like the basic investment principle behind this trust (better than direct p2p) but what is this meant to achieve?az
strapuk
03 Feb 2017
Re: interactive investor not paying back tax... Totally agree. After my snotty email I have now received an apology and the tax reclaim is credited to my account. How can HL credit the full dividned to my wife's account on the dividend pay day, yet my net proceeds arrive a few days after the published payday, and the tax reclaim about 2 months later - after I have had to email them!!Very strange. Just noticed same problem on Tritax too - although so far the tax reclain arrives about 6w after the published payday, and at least on Tritax I don't get the b******t nonsense that the net payment recd is actually the full gross payment!!Just who do they employ at the back office?? Personally I would advise ALL holders of these 2 ITs to check their back payment history to make sure all tax IS credited to your accounts!Good w/e all.
triceratops
03 Feb 2017
interactive investor not paying back tax reclaims It seems that ii have not being paying investors the income tax element of dividends paid for at least 4 months on the P2P and SMEF peer to peer loan funds.I have spent weeks pestering them to repay the amounts due into my own account as well as family accounts. I have now received the outstanding reclaims for the SME fund in my own ISA but we are still waiting on my wife and other relatives accounts. I was told that a generic mail would be sent out to all those impacted a couple of weeks ago but I've not seen anything yet.It now appears the same issue is happening on the P2P fund.If people do hold these in an ISA through ii I'd encourage them to e-mail ii as the more of us that stamp are feet the quicker this will get resolved.Tops
ovidian
03 Feb 2017
Re: poor dividend yield for the risk I have a TD Investing ISA account and they give the tax the back after a fairly short period.
triceratops
02 Feb 2017
Re: poor dividend yield for the risk Hi Strapuk,II should be able to reclaim the missing tax from HMRC and post it back into your account as a tax reclaim.I have been having the same issue on the The SME loan fund ( see my posting on the SMEF thread)Something has obviously gone wrong at ii as my family and friends used to receive the tax reclaims each month for SMEF and that stopped in October of last year. So obviously someone hasn't been doing their job.I had completely missed the P2P missing tax! so thanks very much for highlighting this. I have sent a mail to ii tonight and will let you know their response. I suggest you do the same.More trouble than its worth this investment but Ill hang on now as I think the discount must be at its widest.... Tops
