Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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My SIPP valuation gave me £30,000 for my 250,000 shares (my total investment over 3 years was c. 65k) so I looked into it.
JPJenkins put me straight, they said no, not 0.12 p per share (as on their website) but 0.0012 so only worth £300.
If 2.2billion shares are out there (Solus 41.5%, Great Elm 9.06%) that values the total shareholding in the company at just around the £300,000 mark. 220000000 x 0.0012 = 300k.
I'm moving my SIPP from Curtis Banks to ii. Sadly have to sell the shareholding to do so. £300. Lol.
Here's my trading history:
ACTION DATE SHARES HOLDING SP COST
ACCUM
BUY 22/10/18 50000 250000 4.8 2408.49 64637
SELL 14/08/18 -100000 200000 5.61 -5601.01 62228.51
BUY 07/06/18 20000 300000 5.35 1077.99 67829.52
BUY 07/06/18 30000 280000 5.35 1612.49 66751.53
BUY 11/05/18 30000 250000 6.39 1925.63 65139.04
SELL 11/04/18 -20000 220000 5.05 -1001.01 63213.41
SELL 11/04/18 -20000 240000 5.195 -1030.01 64214.42
SELL 11/04/18 -20000 260000 5.22 -1035.01 65244.43
SELL 11/04/18 -20000 280000 5.42 -1075.01 66279.44
SELL 10/04/18 -40000 300000 5.65 -2251.01 67354.45
BUY 06/04/18 40000 340000 11.15 4468.99 69605.46
BUY 23/02/18 50000 300000 10.82 5418.99 65136.47
BUY 16/02/18 40000 250000 9.04 3626.99 59717.48
BUY 01/02/18 10000 210000 9.52 960.93 56090.49
SELL 19/01/18 -60000 200000 8.88 -5319.01 55129.56
BUY 12/01/18 10000 260000 8.54 863.39 60448.57
BUY 10/01/18 40000 250000 8 3208.99 59585.18
BUY 20/10/17 8123 210000 8.28 681.41 56376.19
BUY 20/10/17 51877 201877 9.4 4885.43 55694.78
BUY 16/06/17 40000 150000 10.88 4350.24 50809.35
BUY 30/12/16 10000 110000 21.74 2185 46459.11
BUY 20/12/16 30000 100000 25.82 7757.25 44274.11
BUY 25/10/16 10000 70000 26.99 2710.25 36516.86
BUY 05/08/16 10000 60000 47.96 4808.75 33806.61
BUY 05/08/16 25000 50000 48 12011.23 28997.86
BUY 27/06/16 5000 25000 59.45 2983.75 16986.63
BUY 24/06/16 13044 20000 61.75 8066.35 14002.88
BUY 24/05/16 6956 6956 88 6132.53 5936.53
SELL 16/10/15 -2000 0 231.675 -4622.25 -196
BUY 18/09/15 2000 2000 220.75 4426.25 4426.25
64637
100,000 here. As some stage I expected a consolidation perhaps 1000:1 even. The small shareholders like me are actually irrelevant to the company, perhaps a small irritation. Over time Jenkins will be moping up, the big holders adding to theirs. The ex bondholders still expect to get a return hence they saved the company. At some stage it will either go bust or be sold - we might get a tiny amount per share perhaps 10p? This is some way off and the company must be profitable first, that actually looks less likely each year to me.
I am just siting on my hands on this one, I consider this be be a total loss, for that's what it is in reality, but I hang on in part to be a very small bug in the big ocean. Might use any capital losses for CGT purposes in two or three years time, by then the future will be clear for our company.
As you say a lesson learned, well actually several lessons !!!!!!
I am not going to give JP Jenkins the pleasure of making a big return on my holding (relative accepted).
Lost 60k. Chased losses all the way down. Have I learnt a lesson. No. I did the same with OXB and that worked. Got a reply from investors@Avanti when I enquired about my 250,000 holding. Reply is:
Avanti has approximately 2.2 billion shares currently in issue. In order to assess value you should liaise with JP Jenkins at www.jpjenkins.com. JP Jenkins operate a matched bargain facility that has been open since the de-listing.
Anybody else in the same boat?