The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Sorry for the missing "k"
Avg £12.67
.... Is complete, well the first phase. 4.7m bought but they didn't mention the average price paid.
Personally I wished they hadn't sold off the other half but first world problems eh. The buy back would have created more but less than anticipated at these high prices. It was as if the buy back was complete.
Even so £11 isnt cheap and the yield would still be blow 3%. Added to that the regulator reducing prices and costs not to mention free shares to customers it doesnt bode well for shareholders. I wonder what will happen to all the 1 2 or 3 share holders over time. How long does it take to build up a meaningful holding as a customer.
With little or no debt, which would be good news generally, there wouldn't be any leverage on the balance sheet. Unless they are lining up something to buy but that boat seems to have sailed.
I think my repurchase is following the ship. I had a good journey but one day my boat might come in or is that back. As long as it brings a decent divi . Good luck all.
We are not alone in our thinking here Gerry.
Yesterday's Times had a report of Credit Suisse downgrading PNN to underperform. Analysts feelings are that this (value) is extreme. Although the price fell 44p to £12.68, about where it is now, Credit Suisse thinks they are worth only £11. Much more realistic I think. Hold on to your hat if you haven't already gone elsewhere!
I'm not visiting as often either. The price is too high and the yield too low, well for a utility anyway. I can't understand buying back at all time highs.
Yes they are in a strong position but even so, its too high a price for a rosy looking Outlook. National Grid might be a better buy if you want a utility.
My pennon rebuy now looks out of the window. I don't know if it's peaked but it would have to fall quite a bit to entertain me. I suspect we will hit the run up to Christmas soon, I don't know if this will follow but might stop it dropping as much. Maybe a steady set of figures will show that it's looks shinier that it is.
Hi Gerry
Haven't been looking in here for a few weeks but I agree; the price is a surprise and Pennon are busy buying. Ho hum. I've just worked out that if I bought back in at £13.00 I'd just about have as many shares as I had before all this happened and that's with some extra dosh thrown in! I'll wait a tad longer in the hope...
Wasn't really expecting 13 quid
According to the EPA, not much of a water company either.....
Yes and its not encouraging me to get back in. I though things would be different. Im not sure this share price has been higher. Whats that saying "buy high ........"
I suppose they have money to burn, have told the market in advance and cant do much about it. Maybe they should have overpaid by 44% for another company instead of the buy back or better still pay it to the shareholders so they can decide when to buy. Most would do a better job than the board acting as investors.
And so the expensive buybacks begin poor shareholder value
Might be a very good water company but as a share trader ??????
Very strange time to be buying back, pretty much right on ATH share price. Either a bit daft and should have kept the powder dry, or very confident the price keeps heading higher (how i cant really see)
23 July 2021
For immediate release
Pennon Group plc
Share Repurchase Programme
" if this SP is going to stay in the stratosphere forever."
Doesn't bode well for the buyback. You think they would be tanking the SP so they can buy more for current shareholders not paying high prices.
After ex div date
Pennon is also proposing an on-market share buy-back programme of up to GBP0.4 billion expected to be conducted through to September 2022
Hi Gerry,
I also had the benefit of realising, and not before time, many years of gains which I'd be happy to reinvest but at the right price whatever that is! In the meantime I'm very good at being patient but sooner or later something else might catch my eye if this SP is going to stay in the stratosphere forever.
Well ex divi 22nd so we should see a small drop. Not going to dent much for those trying to get back in so with you there Oldfortyniner. A buyback kicks in too so we might get stuck. Still it was a good ride whilst it lasted.
There are other equities if you want to replace the income and at much higher yield, so I suppose it depends on how long you are willing to wait if you really want this one.
Thanks for that Gerry557
One of the pitfalls of having your eyes painted on I guess.
ATB
You didn't receive the "usual" cos it hasn't gone ex divi yet. Its ex divi next week and paid at the beginning of Sep 21.
You are not worse off but I agree if you want to by back your "forced Sold" 1/3 of shares it will cost you more than before the split. 2/3s of the remaining shares have risen though. The yield is still quite low now for a utility, albeit probably one of the safest ones around. Are you sure you want to pay your 16% more?
Maybe it all those people trying to buy back, support from the upcoming divi that are keeping the support for the SP going. The buyback kicks off next week too. I estimated this adding a potential 94p but not at these prices
I suspect it might be quite a while before getting back in at a decent price.
And there are those of us who, to avoid that pitfall, sold before consolidation, hoping to buy back in afterwards. I'm hoping some of the heat in the price will dissipate, maybe when the special divi money has been spent, to give us a chance to do that at a more reasonable price. Swings and roundabouts it seems. Good luck to all whichever route you followed.
So I lost a third of my holding in the consolidation and with my special divi earlier today I could manage to buy back but lose 16% for the pleasure plus I did not receive a usual annual divi.
I realise that in the harsh light of day that I did receive a divi (of a kind) and the share price has risen between the consolidation and the payment being received but I appear to be much worse off. Great!
I dont think southern have shareholders (thank your lucky stars!) otherwise it would be the shareholders that would be paying.
I would be interested to see who is "guilty" and what is happening, pay rise probably?
for persistant unwarrented sewerage diversions. Bit of an eye opener with a fine of this https://www.bbc.co.uk/news/uk-england-kent-57777935
I started with Nat West's broking service which of all things required me to have my own CREST account! Never quite understood why but no matter. That was entirely paper so I can empathise with your wanting to stick to it as long as poss. However the writing has been on the wall for a while. It's quicker, cheaper done online as we do these days. I think it's called progress. Ho hum. Luddites R us! Haha!
49'er, you got me well sussed out lol. Have been investing for 30+ years, am a lth in the main rather than a trader as such, but i fancied a bit of a dabble at trading, hence the name. I am cr@p at that to be fair, so back to familiar pastures of proper 'investing' for the longer term.
HL currently have suspended the issuing of certificates, as well as lodging them back electronically, so you will be unable to do that for a while. Also worth noting that there is a plan to withdraw certificates c9mpletely across all brokers in 2025, i think it was. The powers that be are trying to force everything to be digital - probably easier for them to monitor/recover the tax that way. Not sure how they plan to 'force' paper holders to choose who to deposit investments with mind. Cant beat a bit of paper i recon :)