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The deadline is the 11th October
At least you've got the option to buy sws. I've had nothing from HL yet, which is really annoying! Have AJ Bell said what the closing date for applications is?
Well that is frustrating, I hold my SUPR in my dealing account as I picked them up through Primary Bid. I wanted to add more through the placing but in my ISA so the dividends are tax free. I'm being told I can only add in my dealing account which is frustrating.
Just received a corporate action notice from AJ Bell. As a holder it looks like we can apply for shares at 115p in the raise. If AJ Bell are offering, I assume the other main ones will too.
Supermarket Income Reit Plc has announced details of an Offer for Subscription to raise up to GBP100 million. This will give eligible shareholders the choice to buy newly issued shares at a fixed price with no dealing charges.
Under the terms of the offer, you may subscribe for any number of new shares at a price of GBP1.15 per share. Depending on the total number of shares subscribed for, your election may be subject to scaling back.
If you would like to subscribe for new shares, the offer is subject to a minimum subscription of 1,000 new shares and then in multiples of 1,000 thereafter.
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No transaction costs but you have to hand your money over to PB for about 10 days with no visibility of it and then wait to see what your allocation might be. At least in the open market you're doing a deal there & then. Swings & roundabouts, as you say.
The only difference with buying in the market will be commission and stamp duty. The advantage though is that you can buy in your ISA or Sipp.
Thanks, yes - although with PB there are no transaction costs and so buying at 115p through PB is probably about the same as buying through the market at around 116p I guess. Slightly odd that the PB offer was delayed a bit, but I'm not reading much into it.
RNS now announcing the PrimaryBid offer. Looks like it was delayed as it refers to the original announcement "earlier today". Interesting that the new shares will not receive the 7 October dividend: "For the avoidance of doubt, New Ordinary Shares issued pursuant to the PrimaryBid Offer will not carry the right to receive this first quarterly dividend." so buying at 116.485 or below would be equivalent or better than the offer price?
I didn't. Had sold out previously as no news for a long time made me suspicious. Hoping for a raise to get back in, and here it is, but no sign of an offer via Primary Bid?
Did anyone watch this? I had it on but got distracted half way through so missed most of it including the Q&A. Did anyone ask about a future placing? I am only interested as I would like to add more but not at the current premium.
If you didn't catch it I would recommend signing up. They seem to be adding companies/trusts to their platform and presentations are streamed live and are available afterwards to watch.
Surely smaller raises are better: less dilution in a NAV growth environment, trading at premium to NAV so good liquidity, less dividend dilution with unproductive cash on the balance sheet, keeps institutional momentum.
If not Thursday, it won't be long. Instead of having mini fund raisings every few months I'd be much happier with a big one to last a few years.
What is the view on a new cash raise to be announced on Thursday with the results? We've just spent over £100 on a number of new sites and the investment trust industry seems to be booming re. placings right now. I'd quite happily pick up some more if they let PIs take part. Obviously speculation on my part, but it does seem possible.
The fees relate to the fact that SUPR is an externally managed REIT. Atrato capital manage the REIT and levy an annual charge (paid quarterly) for asset and investment mgmt services. Their fees benchmark appropriately against similar sized externally managed REITs based on my review before I bought. I now hold a lot of these having participated in the last three raises - the performance has been very pleasing (though I was enjoying reinvesting dividends while the share price was so low!). Waiting for what I see as an inevitable take out in two years time - happy to clip the 4.8% dividend in the meantime.
It's not boring K, it's just one of those unanswerable questions, unless someone actually asks SUPR to explain and HL's figures and actually gets a decent reply. Some companies are very good at communicating, others just ignore small investors.
Good to hear you are continuing to hold, Hindy. I’m not convinced the HL figures describe the management charges, rather they seem to relate more to the overall costs of running the REIT – which is altogether different (although it would be interesting to see what SUPR say about the figures, if and when you raise them with them). The large value trades that have been going through at 121p+ in the last few weeks suggest to me that there is a lot of institutional buying of SUPR going on at these levels, which I’m hoping is a good sign for the future.
the bottom line is that SUPR management charges are high,they are taken out of the share price,i am up 18% as of today,so as long as they keep making me money i will hold on to them.
Yes, sorry adv11, I know this must be a really boring thread for anyone else. It really ****es me off when brokers, fund managers and others with their noses in the trough try to use my lack of forensic accounting skills to hide their charges. I thought the KIID regulations were supposed to make charges transparent to investors, not introduce another layer of complexity to navigate? I'll shut up now, back to SUPR. Enjoy the weekend. K
Life's too short (smiley face).
Unless anyone can see these charges actually taken out of their cash account, I am convinced that it all refers to charges that the assets of the trust pay out in the daily management and running of the trust.
Of course, the trust is declining in value by these charges so everyone is right to be wary of them, but there are costs involved in running every company of course. The problem now being that some companies, mainly I.T.'s and Reits have to warn of these costs in advance. Probably need to delve into annual reports to get the figures, but as I say, life is too short. Keep collecting the dividends and hope the share price doesn't fall too much.
Apols, my lengthy discussion on this topic with adv11 and seen_it_done_it is on the GSF chat, not here. K
HINDY, my annual charges summary appears in the Spring report rather than Summer, so that's what I'll refer to. In the Charges Summary section 01 May 2020 - 30 April 2021 it states "- Charges made by fund/ ETF/ investment trust managers for managing your investments. These charges are already included in the fund's price, so they aren't shown in your transactions.". My SUPR shares are held in my Fund & Share A/C but I plan to move them to my ISA at some point. The investment report says "Annual Charge for holding Shares £0.00". I can confirm I have paid no charges in-year in my ordinary trading a/c. Further down, it says "Investment Charges - SUPR £15.07". I have NOT been charged for this, and my belief is that this relates to the statement that " These charges are already included in the fund's price, so they aren't shown in your transactions." referred to above. This is all incredibly difficult to fathom (see previous discussions between myself, adv11 and seen_it_done_it on this page) and HL has certainly not helped me to understand what I'm actually paying for, but this is now my understanding of how it works. The current SP of SUPR reflects the net price once THEIR charges (c. 7% or whatever) are factored in, so in effect we don't have to worry about them because we've already paid them.
I hope you are able to follow all this and relate it to your investment in SUPR. I have to admit I hadn't worked this all out before I sold down a chunk of 3i shares without realising that HL weren't charging me the Investment Charges amount, and that effectively this section was for information only. Let me know what you think when you've had chance to review it, I have a genuine interest in fully understanding how this all works going forward (as do adv11 and seen_it_done_it). K
Hindy, it sounds from your most recent post that you’ve changed your mind and decided to hold onto your SUPR shares, despite the HL figures on the charges? It sounds like another HL administrative error to me.
SUPR pay day tomorrow.
check your summer investment report charges summary issued by HL,thats what highlighted it me,a lot more than all the other shares i have.
Yes I found it, did you read my second message from Monday? I can only go by what HL has actually charged me, which is nowhere near 7%. As I said though, I'll be keeping a close eye on it now so thanks for alerting me to it. I'd be interested to know why HL are giving two wildly different figures on their SUPR page - the 7.1% on the "charges" tab and 1.29% on the "at a glance" page?