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Eastern American Natural Gas Trust Message Board

  • focus88us focus88us Mar 4, 2013 5:53 PM Flag


    my father who passed away has 1000 shares of ngt purchased in 2006. This is a bit confusing to me and my broker does not know much. Would you sell now on the open market - or tender the shares - how good is new company? - it's scares me the dividend is so high- or wait and get the $20.00 +.95 by doing nothing. What i am unclear about is you can get 21.12 now as oppose to 20.95 later. If I do not tender what is the advantage of not selling now? - interest etc.?
    comments welcome

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    • Whoever accepted the exchanged offer for ECT units got royally screwed. Lots of discussion on the ECT board.

    • NGT is trading about 3% below fair value given that the tender is not for 100% of NGT shares outstanding. If they exchange around half, you'll have to hold the remaining NGT shares some time to get the $20.95. If you are retail investor not using leveage it may not be worth the complexity to pickup a few percent.

      If you don't plan to tender, it make no sense not to sell it now. You might wait to see if NGT trends up as we approach the tender date.

      I have no opinion on ECT and have already sold the shares I expect to receive using an option position.

      Hope this helps but its your call.