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Please excuse my naivety, but may I ask what tax payments are triggered for a director to pay when a company does a share buy back.
Bullshiit!
They are not obliged to sell their shares. No tax falls due on shares until they are sold and NI isn't due on shares at all. Any other tax or NI that the directors are liable to pay is irrelevant to whether they are selling their shares, and certainly irrelevant to whether the company is buying back shares. Tax and NI are paid on a PAYE basis.
Am I missing something here??
It's interesting that you think we have had a 'share price drop' rather than that we had a 'unwarranted share price rise'. That should give you a clue as to your irrational sentiment on the share.
You've obviously not been around very long. Do some research before you get burned.
Spot on. Do the maths on the numbers and you'll see the named 3 sold precisely enough to cover the tax & NI, no more no less.
If you can do some basic maths you'll also be able to work out that LOAM didn't tender 100% of their shares (I've seen somebody else quite a % figure very close to that which I've calculated, dont recall who as it's so hard to sift through all the nonsense on here these days).
Regardless the drop in the share price is worrying but that's not going to change until we get news of some proper sales. I remain optimistic/ hopeful for the future and far more balanced than most here on the company & BT's performance.
@nanonano missing your level-headed contributions
They obviously expect the share price to fall significantly. Obviously, there is no good news in the offing. Otherwise, why sell now.
whats the differece between shiiiiit, **** and crap !
If you can't sell your shares without those miserable ungrateful contemptible shareholders complaining about you milking the company... do a share buy back.
Has anyone thought of buying into Henry Turcan's fund...? Maybe there's money to be made there?
LOL
This didn't make me suspicious. Not at all. They Samsung debacle made me suspicious.... and my suspicions were later confirmed at great expense.
Oh... is that what they said... they are very creative.
Nanogeddon, it will be in the terms of the bonus and option agreements that the directors sell as many shares are necessary for the company to fulfil its PAYE and NICs obligations. Otherwise the company would be on the hook for those amounts.
As far as I'm aware this is 100% standard and nothing to be suspicious of.
Do be warned...
When a company has profits or or the market believes in potential profits, a buy back can increase the share price as potential profits can be distributed among fewer share holders.
The share price will not rise in this case because the market doesn't believe there will be any profits... and neither do the board, for that matter.
Sorry.
So the directors are selling their shares again with the money from the disastrous settlement :D
For tax reasons...
They are so full of shiiit!
Well he did say that he wasn't going to get bullied again !
Brian would better off doing investor presentations wearing a stocking over his head and holding a sawn off shot gun in one hand..At the end of the day for retail investors it all amounts to the same thing!
Maybe by inflection point Brian was referring to his net worth?
They will be sipping their g&it's on some gin palace in the med laughing how they fool all the retail investors mugged off over last few years with LOAM and RG!...the pleasure boat is probably provided as a freebie to them from Samsung saving them a bob or two in legal fees and saving their skins!
They'll all be able to provide enough wind for their sails.
People used to criticize Michael Edelman for his share option sales, but it seems they're all at it.
They don't care about the share price, just get the cash for their Yachts.
16-17p coming
Tenners a genius! We're lucky to have him. Worth every penny WE are paying him. His track record is without equal.
Having helped his mates he's now helping himself.
He should be rewarded on his performance of driving the share price forward. If only!!!!!!!!!!!!
@Morbox
I hadn't realised he was an environmental and animal rights activist and a Buddhist to boot.
He seems to have been involved in a whole load of other 'activities' too !
I suggested a return to mid to high teens and closer to cash cost £23m 12p 185m once the dust has settled on the share buyback...it seems that the share price is reverting faster than expected.
It seems I got that prediction correct as well!
Yep I've already got Steven Seagal Mrs on her nest on the house a few doors down (ffs).