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It really didn't - although that being said the result were good - they just hit it with a delisting post at the same time. Fools!!
Ahh well - thought it was too good to be true.
Everything sounds positive in the latest report so I'll stick around until Interim Results at the start of September
That post from end of July didn't age too well
Mkx007!!
Nm
Ahh well - thought it was too good to be true.
Everything sounds positive in the latest report so I'll stick around until Interim Results at the start of September
Except you won't get the divi if you buy today. In spite of Monday's RNS they traded ex-divi from open this morning.
What twollocks!
After market (6pm) is technically correct for the record date but a stock goes ex-dividend prior to the commencement of trading on the ex-dividend day, not after market that day. That's how you get alignment with T+2 trading.
Their RNS this afternoon is carefully crafted to try to avoid admitting they got it wrong. Not impressed.
Seems like this is a Gimme - It's dropped 25p
you get the 35p dividend.
Should only drop 10p tomorrow, so you're net 25p on the day. Very strange scenario!!
Thank you for your inquiry and bringing this to our attention.
The Record Date for shareholders entitlement to the 35p dividend, is 28th July, 6pm. (Tomorrow after close)
The ex-dividend date is guidance based on the agreed settlement when buying/selling shares.
For T+2 settlement those buying shares today would not be on the Register at the Record date and time, and therefore not entitled to the dividend.
If one were to agree a transaction on T+1, today then that would be different.
I appreciate the potential confusion raised regarding the noting of a 6pm time and whilst technically correct, the Company has released clarification.
Well that makes sense of the share price dive. Ta.
Looks like the company messed up with their RNS on 24th July. Probably should have ex-dividend from 8am 27th July, not 6pm. That's not a mistake that should have made, particularly given the 35p divi amounts to 20% of the market cap.
Even the respected site dividenddata.co.uk thought they meant trading ex from 28 July.
https://www.dividenddata.co.uk/
Conflicting RNS announcements the one on 28th June says ex dividend 27th July and one on 24th July says ex dividend 6pm on 27th July. Seeing the price has dropped we must assume it is now ex dividend.
Anybody any idea why this stock has tanked the day before it goes ex divi. I was under the impression shares in a company drop on or after the ex divi date to compensate for the divi payment. Ex divi date is 28th July, so I presume I can still buy this share up to the end of trading today & still qualify for the divi.
I sold mine soon after the restructure was announced.
I think my holding (from the Rodime days) was so small it would have been wiped out.
I got 17.42p which seemed a good price. Used a free trading credit so no fees, which helped.
Many investors will no doubt be tempted to sell when it goes ex div but consider the following from their RNS 28th June.
The Board and management remain dedicated to driving an absolute return strategy on behalf of investors and following settlement of recent asset disposals and the receipt of conditional earn outs from prior asset sale arrangements, we are also proposing a further capital return of approximately £3.5 million to holders of New Ordinary Shares, further enhancing the value proposition for shareholders. Since 2017 the Company has eliminated debt and following this distribution, will have returned over £120 million to shareholders."
120 million returned to shareholders in 6 years is amazing.
Will they announce dividend amount tomorrow?
huge trade....80+ million?
An update today:
I have looked into the stamp duty charge on your purchase of Sportech shares on 6 August 2021.
When stock is moved to the AIM market, it's not automatically exempt from Stamp Duty Reserve Tax. The company needs to apply for the exemption through the registrar.
As this stock became exempt from Stamp Duty on 24 August 2021, your trade would still have been subjected to the Stamp Duty tax.
Posts seem to be going missing here.
HL replied saying they're waiting to hear from CREST confirming move to AIM.
I sold late on Friday, I only bought that tranche hoping for the price to get near the 40p buyback price, which it did.
I do still hold a small tranche way back form the Rodime days though.
G lol
I already sent that RNS to HL to see what they say.
Looking on various platforms it does seem that the move to AIM hasn't actually happened yet.
28 July 2021SPORTECH PLC("Sportech", the "Group" or the "Company") Admission of Ordinary Shares to trading on AIM Sportech (AIM:SPO), an international betting technology business, announces that further to the Company's announcement on 4 June 2021, the General Meeting held on 29 June 2021 and the Schedule 1 and Schedule 1 Appendix announcements made on 30 June 2021, the Board is pleased to confirm that the admission of the Company's ordinary shares of 20 pence each (the "Ordinary Shares") to trading on AIM occurred at 08.00 a.m. today, 28 July 2021. Simultaneously, the admission of the Company's Ordinary Shares on the Official List of the Financial Conduct Authority and to trading on the Main Market of London Stock Exchange plc has been cancelled. The Ordinary Shares will continue to trade under the TIDM "SPO", the LEI and ISIN will also remain the same. Company information, as required by AIM Rule 26, can be found at http://www.sportechplc.com. - Ends -
Was a structured sell ??
https://connecticut.news12.com/lawmakers-strike-online-gambling-and-sports-betting-deal-for-connecticut?minutetv=true
"Sportech, the company that runs off-track betting in Connecticut, released a statement saying: "One year ago, Governor Lamont stated he would seek a fair resolution regarding gaming expansion involving existing gaming operators that 'must be designed to avoid and withstand endless legal challenges.' Regretfully, the Governor’s announcement this afternoon, that principally excludes Sportech from expanded gaming, leaves us with little option but to pursue legal recourse on behalf of our 400 Connecticut employees.""
https://www.legalsportsreport.com/48767/connecticut-sports-betting-negotiations-2021/
"The Connecticut Lottery and OTB operator Sportech can also get involved in CT sports betting through the agreement."