Member Info for Etotheipi

In the media, time to sell?

I agree with the grips about raising cash this way, I know that primary bid has given retail investors better access to placings but SIPP holders can't participate.

What about "(iii) give the Directors the authority to disapply pre-emption rights". I think this means that EML can issue shares without making sure existing shareholders are given the opportunity. Am I correct? Is this usual?

It will be interesting to read what the fm says, last commenary was 31/1/21 here: https://am.jpmorgan.com/gb/en/asset-management/per/products/jpmorgan-china-growth-income-plc-ordinary-shares-gb0003435012#/commentary

Any ideas on the frequency of these?

I'm under the impression that responsible fund managers withdraw slowly so as not to cause a panic. I'm sure the sp will recover soon. The good news is that it's an IT not a OEIC.

Thanks for that RedRoy, it always helps having an independent resource validating a company's marketing.

Positive annual results, sp down 10%, gotta love the "efficient" markets. Hopefully, sense will prevail as the day progresses.

So no case then.

To save me trawling through all of messages, would one of you be so kind as to tell me what has changed about this company in the last year to suggest that they can turnaround the 2019 poor performance.

1st post didn't show until I posted the 2nd one.

These are subscription shares related to CCJI. On 16th February (RNS) existing share holders were given 1 CCJS share for every 5 CCJI share. This gives the holder the right but not the obligation to buy CCJI shares at 161p until 28th February 2023 (RNS), on a quarterly basis. So if an investor believes that sometime over the next 2 years the CCJI share price will be higher than 261 plus this price (so based on today's price 270 a 17% increase) then they will buy this. I'm guessing that some clever institutional investors will plug the numbers into a model and decide they are worth a punt. Holders like me may have to sell at some point before 2023 unless the sp rockets when it'll be good to cash in.

Of course, the AIs and technical traders probably won't know what they are buying.

These are subscription shares given to existing share holders 1 to 5. They give the holder the right but not the obligation to cuy CCJI shares at 261 or thereabouts between now and May 2023 I think. The current share price is 232, so the gamble is whether you think the CCJI share price will be higher than 261 + CCJS price in the next 2 years. So at the moment the question is whether the CCJI share price will rise significantly higher than 270 (16%) within 2 years. I'm sure some sophisticated investment companies will run it through their mathematical models and decide it's worth the bet. I'll be surprised if this bb ever gets many posts.

https://am.jpmorgan.com/gb/en/asset-management/per/products/jpmorgan-china-growth-income-plc-ordinary-shares-gb0003435012

Current share price 562, NAV 666.5 18.5% discount. JP seem very keen to issue shares when trading at a premium, it's about time they started buy backs to reduce the discount.

Agreed. Hopefully retail investors will be able to take part in the placing.

It's refreshing to see sp movement based on real positive news. I haven't crunched the numbers but in theory this could be huge. 6.5 to 17 is a 160% increase, how this plays out I don't know.

ITs don't generate much interest on this site. Crazy, just look at the 5 year performance of SMT, JCGI and HGT!

Well it could be that they don't care about retail investors, I'd like to avoid dilution by taking part in the placing but cannot. Here's what HL have to say:
"Thank you for your interest in the proposed Placing to raise £173m in Sequoia Economic Infrastructure Income Fund PLC.
As the company have decided to raise funds via a Placing, we are unable to participate in a retail capacity. However, if you believe you are a Qualifying Professional Investor, we may still be able to submit an order on your behalf.
If you believe you are a Qualifying Professional Investor, please contact our Stockbrokers on 0117 980 9800 and I will arrange to send you a Qualifying Investor Questionnaire which will need to be completed and returned before we can accept an instruction from yourself.
Please note that a £100 placing commission will apply to the transaction and that books are likely to close soon."
Even if they went through primary bid it wouldn't help as my holding is in a SIPP!

The odd thing is that the trade tensions between USA and China have been around for a while, yet suddenly this week there's a big sell off not just the share price but the nav. Maybe, as you said, it's general volatility. The share price seems to be stabilising now although the nav is down. Hopefully the bleeding has stopped.

Hi Phyl, it looks like it's been investment trust carnage, mainly global, US and China. Comments by the fed have turned the US markets around so hopefully a blue day tomorrow. Probably would have been good to have topped up today.