Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

M&G CREDIT INCOME INVESTMENT TRUST PLC

(MGCI)
  Report
Delayed Quote. Delayed London Stock Exchange - 10/20 11:35:20 am
98.2 GBX   +0.93%
10/08Holdings in Company
DJ
10/04Total Voting Rights
DJ
10/01M&G CREDIT INCOME INVESTMENT TRUST PLC : Director Declaration
DJ
SummaryQuotesChartsNewsCompanyFinancialsConsensus 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

M&G Credit Income Investment Trust plc: 2021 -7-

09/16/2021 | 10:44am EDT
2021 first interim dividend of 0.11p                      159         -         - 
                                                          1,865       585       788 
 

On 27 July 2021 the Board declared a second interim dividend of 0.76p per Ordinary Share for the year ended 31 December 2021, which was paid on 27 August 2021 to Ordinary Shareholders on the register on 6 August 2021. The ex-dividend date was 5 August 2021.

In accordance with FRS 102, Section 32, 'Events After the End of the Reporting Period', the 2021 second interim dividend has not been included as a liability in this set of financial statements.

7 Investments held at fair value through profit or loss (FVTPL)

                                                     As at        As at        As at 
                                                     30 June 2021 30 June 2020 31 December 2020 
                                                     GBP'000        GBP'000        GBP'000 
Opening valuation                                    140,316      127,316      127,316 
Analysis of transactions made during the period/year 
Purchases at cost                                    18,769       49,011       80,084 
Sale proceeds                                        (23,023)     (37,682)     (68,430) 
Gains/(losses) on investments                        2,969        (4,362)      1,346 
Closing valuation                                    139,031      134,283      140,316 
Closing cost                                         138,251      135,973      138,257 
Closing investment holding gains/(losses)            780          (1,690)      2,059 
Closing valuation                                    139,031      134,283      140,316 

The Company received GBP23,023,000 from investments sold in the six months period ended 30 June 2021 (30 June 2020: GBP37,682,000). The book cost of these investments when they were purchased was GBP21,836,000 (30 June 2020: GBP38,477,000. These investments have been revalued over time and until they were sold any unrealised gains/losses were included in the fair value of the investments.

                                                       As at                   As at        As at 
                                                       30 June 2021            30 June 2020 31 December 2020 
                                                       GBP'000                   GBP'000        GBP'000 
Gains on investments 
Net realised gains/(losses) on disposal of investments 541                     (1,661)    2,714 
Net gains/(losses) on derivatives                      2,428                   (2,701)    (1,368) 
Net gains/(losses) on investments                      2,969                   (4,362)    1,346 
 
                                                                               As at        As at        As at 
                                                                               30 June 2021 30 June 2020 31 December 
                                                                                                         2020 
                                                                               GBP'000        GBP'000        GBP'000 
Closing valuation 
Investments at fair value through profit or loss                               139,439      135,227      140,091 
Derivative financial (liabilities)/assets held at fair value through profit or (408)        (944)        225 
loss 
Closing valuation                                                              139,031      134,283      140,316 

8 Receivables, Cash and Cash Equivalents and Payables

                                        As at        As at        As at 
                                        30 June 2021 30 June 2020 31 December 2020 
                                        GBP'000        GBP'000        GBP'000 
Receivables 
Sales for future settlement             586          38           - 
Accrued income                          1,128        990          1,204 
Prepaid expenses                        33           12           41 
Management fee rebate                   51           40           82 
Other receivables                       -            -            18 
Total receivables                       1,798        1,080        1,345 
Cash and cash equivalents 
Cash at bank                            1,302        5,809        2,269 
Amounts held at futures clearing houses 1,041        962          1,009 
Cash on deposit                         4,601        4,591        4,000 
Total cash and cash equivalents         6,944        11,362       7,278 
Payables 
Purchases for future settlement         684          5,280        1,354 
Expenses payable and deferred income    351          343          278 
Management fee payable                  438          318          677 
Other payables                          3            51           2 
Total payables                          1,476        5,992        2,311 

9 Called up share capital

                                               As at 30 June 2021      As at 30 June 2020      As at 31 December 2020 
                                               Number of   Nominal     Number of   Nominal     Number of   Nominal 
                                               shares      value GBP'000 shares      value GBP'000 shares      value GBP'000 
Ordinary Shares of 1p 
Ordinary Shares in issue at the beginning of   144,605,771 1,446       130,000,001 1,300       130,000,001 1,300 
the period/year 
Ordinary Shares issued during the period/ year -           -           14,745,770  147         14,745,770  147 
Purchase of Ordinary Shares held in treasury   (1,238,000) (12)        -           -           (140,000)   (1) 
Ordinary Shares in issue at the end of the     143,367,771 1,434       144,745,771 1,447       144,605,771 1,446 
period/year 
Treasury Shares (Ordinary Shares of 1p) 
Treasury Shares at the beginning of the period 140,000     1           -           -           -           - 
/year 
Purchase of Ordinary Shares held in treasury   1,238,000   12          -           -           140,000     1 
Treasury Shares at the end of the period/year  1,378,000   13          -           -           140,000     1 
Total Ordinary Shares in issue and in treasury 144,745,771 1,447       144,745,771 1,447       144,745,771 1,447 
at the end of the period/year 

The analysis of the capital reserve is as follows:

                     Six months ended 30 June 2021    Six months ended 30 June 2020    Year ended 31 December 2020 
                     Realised   Investment  Total     Realised   Investment  Total     Realised   Investment  Total 
                     capital    holding     capital   capital    holding     capital   capital    holding     capital 
                     reserve    gains       reserve   reserve    gains       reserve   reserve    gains       reserve 
                     GBP'000      GBP'000       GBP'000     GBP'000      GBP'000       GBP'000     GBP'000      GBP'000       GBP'000 
Capital reserve at 
the beginning of the 1,290      2,059       3,349     (265)      2,233       1,968     (265)      2,233       1,968 
period/year 
Gains/(losses) on 
realisation of       4,248      -           4,248     (439)      -           (439)     1,520      -           1,520 
investments at fair 
value 
Realised currency 
gains during the     (140)      -           (140)     141        -           141       451        -           451 
period/year 
Movement in          -          (1,279)     (1,279)   -          (3,923)     (3,923)   -          (174)       (174) 
unrealised losses 
Dividends paid       (1,865)    -           (1,865)   (416)      -           (416)     (416)      -           (416) 
Capital reserve at 
the end of the       3,533      780         4,313     (979)      (1,690)     (2,669)   1,290      2,059       3,349 
period/year 

The above split in capital reserve is shown in accordance with provisions of the Statement of Recommended Practice 'Financial Statements of Investment Trust Companies and Venture Capital Trusts', 2019.

10 Special distributable reserve

The share premium of GBP99,000,001 was cancelled on 12 February 2019 and transferred to the special distributable reserve, in accordance with section 610 of the Companies Act 2006. The Company may, at the discretion of the Board, pay all or part of any future dividends out of this special distributable reserve, taking into account the Company's investment objective.

11 Related party transactions

M&G Alternatives Investment Management Limited, as Investment Manager is a related party to the Company. The management fee payable to the Investment Manager for the period is disclosed in the condensed income statement and in note 3, amounts outstanding at the period end are shown in note 8.

The Company holds an investment in M&G European Loan Fund which is managed by M&G Investment Management Limited. At the period end this was valued at GBP17,458,741 (30 June 2020: GBP13,163,135) and represented 12.16% (30 June 2020: 9.53%) of the Company's investment portfolio.

The Directors of the Company are related parties. For further details of the annual fees payable to the Directors, please refer to the Related party disclosure and transactions with the Investment Manager section.

12 Fair value hierarchy

Under FRS 102 an entity is required to classify fair value measurements using a fair value hierarchy that reflects the significance of the inputs used in making the measurements. The fair value hierarchy shall have the levels stated below.

-- Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities;

-- Level 2: other significant observable inputs (including quoted prices for similar investments, interestrates, prepayments, credit risk, spread premium, credit ratings etc.).

-- Level 3: significant unobservable input (including the Company's own assumptions in determining the fairvalue of investments, discounted cashflow model or single broker quote).

(MORE TO FOLLOW) Dow Jones Newswires

September 16, 2021 10:43 ET (14:43 GMT)

All news about M&G CREDIT INCOME INVESTMENT TRUST PLC
10/08Holdings in Company
DJ
10/04Total Voting Rights
DJ
10/01M&G CREDIT INCOME INVESTMENT TRUST P : Director Declaration
DJ
09/23M&G CREDIT INCOME INVESTMENT TRUST P : Transaction in Own Shares
DJ
09/22M&G CREDIT INCOME INVESTMENT TRUST P : Monthly Performance Factsheet
DJ
09/17M&G CREDIT INCOME INVESTMENT TRUST P : Director/PDMR Shareholding
DJ
09/16M&G CREDIT INCOME INVESTMENT TRUST P : 2021 -8-
DJ
09/16M&G CREDIT INCOME INVESTMENT TRUST P : 2021 -7-
DJ
09/16M&G CREDIT INCOME INVESTMENT TRUST P : 2021 -6-
DJ
09/16M&G CREDIT INCOME INVESTMENT TRUST P : 2021 -3-
DJ
More news
Financials
Sales 2020 6,54 M 9,02 M 9,02 M
Net income 2020 5,78 M 7,98 M 7,98 M
Net cash 2020 7,28 M 10,0 M 10,0 M
P/E ratio 2020 22,0x
Yield 2020 4,65%
Capitalization 140 M 194 M 194 M
EV / Sales 2019 29,5x
EV / Sales 2020 19,2x
Nbr of Employees -
Free-Float 97,5%
Chart M&G CREDIT INCOME INVESTMENT TRUST PLC
Duration : Period :
M&G Credit Income Investment Trust plc Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends M&G CREDIT INCOME INVESTMENT TRUST PLC
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 1
Last Close Price 0,98 
Average target price
Spread / Average Target -
Managers and Directors
David Robert Simpson Non-Executive Chairman
Richard Michael Boléat Senior Independent Director
Annette Barbara Powley Independent Non-Executive Director
Sector and Competitors