Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
To generate tax free capital gains and regular dividend income, invests primarily in AIM-traded companies and non-qualifying investments as allowed by the VCT legislation.
Find out MoreLondon South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Quite incredible how this fund invested so consistently in badly performing companies. I think the only reason for it not falling more is its cash! Two years ago this fund was seen as market leading, fair to say it was a false dawn.
This VCT has had a dire 8 months now. The pain keeps coming. Dividend will soon be paid but it will be 4.5p compared with 7p last year. As dividends are based on NAV then this will almost certainly fall further.
Just when one bad month finishes another one starts with this one. It is relentless, pretty much all the stocks they hold that once were stars have been hammered. Day after day.
Geez so many of the stocks Amati holds have fallen fast. Tristel, Polarean, Maxcyte, Frontier Developments, AB Dynanics, Ilika, even now Keywords is 30% off highs. I know it's a long game but been a rotten 6 months. Maybe timing of new offer will allow people to get in at a better price or maybe the sell off of the small cap tech stocks will continue.
Pyueck
I think I'll sell some in Feb when my 6 months lock in from previous purchase ends, not because I've lost faith, I haven't, but I have quite a few I could "recycle" thus selling and waiting another 6 months seems a sensible move for me.
Yet another top up offer! I took the last one and whilst I love Amati it's definitely been a tough 4 months since then. First was the dive of Polarean, then it was Frontier Developments. Other stock which have done incredibly over the last 5 years have also pulled back less spectacularly, namely Maxcyte, Leaning Technologies and Tristel. Annoying there haven't been many huge winners to offset these, Water Intelligence has still had an incredible year but the gains have petered out too in recent months.
I shouldn't be too surprised or disappointed, many of these companies have done incredibly well in the longer term. More disappointing is the under-performance vs the wider AIM market which has largely held up.
So maybe this new offer is tempting, getting in to Amati at the 180p rather than the 210 mark it was a few months back. Let's see where we are in February. I went in pretty hard with the last top up so can't put too much more in this tax year. Always nervous investing in VCTs too early in the tax year, if for whatever reason I lost my job I would not be able to use the tax benefits so don't really want to go hard on 2022/23 just yet, even this is allowed in the new top up offer.
I was planning on selling some old Amati shares which have had the 5 year mark expire, but doing so would prevent me taking up this offer due to the 6 month rule.
I am meriting that sort of comment with a response.
PYUECK
Stocks go up, stocks go down, the pool that Amati vct fishes in is by definition a very volatile pool.
As Frontier are still more than double Amati's cost so after your 30% rebate from HMRC they are actually 3 times cost, I really do not see why a 4p reduction in Amati vct SP, or a trifle over 2% is anything to complain about, or are you so smart that you only ever buy stocks that go up ?
Please enlighten me, I am most interested.
Another stock with a 35% dive, on top of polarean. Is Amati's Midas touch ending?
6.5% fall in amati. Hardly surprising given that their largest holding Polarean imaging fell over 60% on news that the FDA has not given approval. I guess all part of the fun of investing.
A new top up offer on the way from Amati. The performance and dividends to date have been great so planning on another top up however worth noting that:
- As you can only offset the 30% tax break against income in the current year, investors need to be cautious of investing in August. If ones income was to unexpectedly be lower for the rest of the tax year (e.g. lose job etc.) then you may not be able to use all of the tax break you had. For this reason I will only be investing enough to have a tax break which would be my tax bill were I to lose my job at the end of October. Due to the way the tax system works (i.e. a banded system) this reduces my allowance A LOT, however it would suck to invest in a VCT and not be able to use the benefit and I can always invest later in the year if I need to in another offer.
- 6 months rule. I am now heavily invested in Amati VCT. I also used to invest in Maven, but quite honestly their performance, feed and dividends have sucked and beyond diversification I just can't look beyond Amati. The Amati portfolio is pretty diversified anyway. However one issue is this rule that you can sell old VCT shares even after 5 years of holding, if you have invested in new issues of the shares. This is a bit annoying for me, however come next February I should be able to sell my old shares with no issues and use these proceeds for next years issue (will act straight away after the 6 months to sell as will need another 6 months before I can purchase again).
- Valuations. Amati has had a great run, and when you look at the companies many of the valuations seem toppy. I have given up trying to call the market though, my strategy is clear, buy VCT's, hold for at least 5 years, take the dividends, sell and reinvest.
I'm very happy with that!
Proposed final dividend of 7p (10.5p for the year)
@Pyueck
Interesting your thoughts re valuations, in a recent video Dr Jouardan touched on that himself by pointing out that UK valuations were roughly half that of US ones. I agree with you a lot do look toppy to me too but this fund manager is someone I have always found who talks sense.
I invest in this vct simply because it has done me very well indeed over the last 8 years or so.
The next Dividend is soon to be announced. The fund has a strategy of 5-6% Dividend based on last years NBV. Therefore I assume this dividend will be based on last July's NBV and wont be a huge increase, but hopefully future ones should be significantly higher (if the NBV is maintained). I am all in favour of the fund paying as much as they can out in dividends, the performance has been great to date but some of the valuations of their holdings, especially in software, look very toppy to me.
@smose
Me too !
I got my confirmation this evening. It didn't make any difference to the timing of submission as long it was received before the closure of the application. I only received 40% allotment.
I did apply online by wealth club not realising they were open over the weekend, duh !
However it looks from their email this week that we will only receive about 40% for applications of £10k or more with the minimum allotment being £4k.
I am surprised it has taken them this long & still we don't know for sure what we have, 2 weeks later after WC opened their online service.
@barchid - did you submit directly online?
I applied via wealth club on Friday evening. They pre-warned that the subscription was likely to be over-subscribed and even advised that I should 'get into the queue' as soon as the application is opened at 5pm (Wealth club did not load until 6pm), as they would submit on a first-come-first serve basis to the registrars, ready for Monday morning.
We just have to wait for a couple of days. I note that Amati VCT price dropped by 1.5% today, so hopefully will have lower net asset value on the day of issue of these new shares.
Smose
I did mine this morning, about 09.20 online so I keep my fingers crossed !
Certainly never thought it would go this fast ! A very short time span to raise £7m...
If it got there first thing this morning then I assume yes, even by post. If it got delayed then who knows.
I was in two minds as to whether to subscribe as already heavily exposed to Amati, subscribed this year in November, have some shares from over 5 years ago which I can now sell and subscribing now prevents me from selling for 6 months and also have upcoming house repairs which will mean my cash reserves are under pressure. Not too upset therefore to have missed the boat this time. Seems like after years of being in the wilderness, Amati is now at the forefront of VCT investors, suspect mainly due to the last years performance. Hoping it continues as still very highly exposed.
Wow. Fully subscribed by 1020am on the day of acceptance of application (from 9am). I applied last Friday, hope my application made the cut.
Yes signed up. You will also be able to watch after if you can’t make it.
If you google" bright talk amati "you will see a link to Dr Jourdan of Amati giving a review of his portfolio in the vct.
It starts at 11.00 on Feb 18 for an hour
Replying to - "have you considered leaving the Amati VCT for the tax-free dividend as permanent source of income, instead of recycling from other VCTs (for the benefit of the 30% rebate)?"
Unfortunately I don't have enough spare cash to constantly be taking out enough VCT's every year to largely cover my tax year without selling old one's once they are 5 years old. As this is the case it always seems prudent to sell old VCT's and buy new ones (not the same one within 6 months as not allowed) and get another 30% tax rebate. Yes the sale and purchase fees (especially difference between NAV and share price) probably knock a good 10% of this benefit off (plus the time and hassle of selling VCT's and buying new ones) but still worth it.
If I had enough cash I would happily invest my £200k allowance every year in VCT's and never sell them. Unfortunately I'm not in that position.