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Morning all
Sharegar agreed the last RNS definitely had a feeling of confidence that the sale will complete.
GFD I never said we would have to vote on a divi amount, no company does that as it's an internal management matter. The only vote we will have is whether to accept the sale offer. I'm correcting misinformation that people who want the SP out of this manipulated range have to wait for the "dividend rns" or that the next rns in this sequence will be dividend amount. It wont be - the proposed sale and circular is next (hopefully) and that will rerate the SP as it is a quantifiable cash figure, same as in any company takeover the SP rerates on bid announcement, not when it completes.
Dont take my word for it, look at Braveheart and the sale of RMS late last year and the order of their announcements. It took a few weeks from proposed sale to dividend, and that is normal.
RedPanda I think you've worked it out, but if you instruct them to reinvest, your share dealing broker will still receive the cash (£1 in your example), but immediately use it purchase more shares at the ex div price (so at 10p). Your account will then show your shareholding has increased rather than cash.
GLA let's see if the market reflects this at all.
The positive RNS today gives further confidence that all is well in EUA land and as I suspected the board were not able to add more details due to constraints such as AIM 15 rule.
Checking back on all of the important RNS's and even as far back as the Proactive interview from Dmitry in late 2019, it is clear that up till now the board have delivered in all their promises while throwing in a few surprises that should be seen as positive (The Japanese/Asian connection).
They interestingly did not include a disclaimer about the possibility of no sale.
In the scheme of things I think the board have communicated with investors when appropriate and once the Substantial sale (>75%) has been accepted I think no one will give a hoot about the length of time it took to get over the line.
It could drop any day as someone once said to Aled Jones, but in our case I'm sure it will be good news.
I do not think there would have been an update quite like today's, especially being so close to the AGM if the board did not have full confidence of an imminent sale.
I believe the wait will be well rewarded and full marks to everyone that has sailed through the stormy waters.
A few shipmates have sadly fell overboard (too much Rum?) but you will be pleased to know that Rowka was last seen taking out a Great White shark with his trusty Pen Knife, before swimming 20 miles to land. Apparently he learned that from his Army training.
GLA Sharegar.
"Cote" = "vote" obvs. Small mobile keypad, not so small fingers!
Seems like it got hijacked a bit!
Confused? Most opinions I've read tonight (and since a possible divi was announced) seem to think nothing will happen until a dividend amount is announced. It literally CANNOT happen like that.
The sale has to be coted through, therefore at least 2 weeks before the cote we will be told what the sale amount on offer is. At that point, given BoD support so it will likely pass, the SP will rerate because it will basically be cash in the bank (asset).
At this stage I would not expect any definite dividend amount to be given. Because dividends can only be paid once the cash has actually been received, so after the vote and once legal are signed sealed and money transferred.
Even then I would expect the BoD to work out how much of the proceeds it is safe to pay out, after fees, taxes and keeping some in the bank for future use. So it could be 3 or 4 weeks after the sale announcement before a dividend is put forward.
Norm, the SP will continue to bob around at whatever the sale price is (when converted to an amount per share). Two dates are then of interest: record date, when at close of play whoever owns shares is entitled to the dividend for each share owned. And the ex-dividend date, usually 7am the following business day, when the SP will go down by the divi amount and your total dividend gets paid into your shareholding account (within a few days).
So a rerate of the share price is on the cards but it wont be triggered by a dividend RNS, it will be the sale announcement. That's the point I'm making.
I'd like to think everyone putting "dividend" in their posts as the next rns actually means "sale" but increasingly I'm not so sure...
Hi spurs. From a fellow Fan. I'm wondering what the share price will be once the dividend is paid? Im expecting something of an opportunity to buy a great deal more shares once the sale is complete. I think the real value here is in around 5 years time when the JV is in full production.
Is it mashed potato?
Mr Potatohead
Kindly stop your rambling, did not understand your previous post, probably because it did not make any sense.
LOL..
Did your calculator break.....big divi inbound
Me too oldspurs, what are you on about ??
Can I be the first to ask, what the hell are you on about?
I’m not ramping or de-ramping but the SP is low. At sale, the min share price should be between 28p-30p and we should get a dividend. My calculation is base on 10% of total value of the PT, then 10/% of that as the sale price. Basically 1% of the PT value at today’s price.
Posted this a while back. People looking for SP enhancing news need look no further than the sale announcement RNS:
Any "special dividend" will be paid right at the very end of the entire sales process. After this the company focuses on what licenses assets and plans they have going forward.
Where does the dividend come from? Cash reserves.
How does it get into cash reserves? Following a sale
How do we get to a sale? The company announces what is being sold and for how much. If it's large enough we shareholders have to vote on it. If approved the bod go through legal necessities and sign.
So what comes first that would affect the share price? PROPOSED SALE ANNOUNCEMENT.
The SP will rerate when the company announce a sale that they themselves back. This will be for the full value of the sale proceeds, so if £2bn, SP goes to 70p area. 5bn? 160p etc.
It will bob around at that level until deal is signed, cash received, and dividend calculated (I'd say 50-60% of sale proceeds will end up as a divi, rest paying fees, taxes and retained for future use).
Once divi is paid out, the SP will reduce by the divi amount in the ex dividend date.