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I think interactive investor will make you more viable. They at least allow you to vote on things.
I suspect there are several things that could be improved to help the small investors
Novice,
Glad to help; the sea of RNS announcements and forms can be a real pain when you want to go back and look something up and can't remember where it was!
Your pen name belies the reality with your strategy for holding your stocks in certificated form ! The world believes everything should be in the cloud but there's nothing wrong with paper. Where will our historical record be in 500 years time?
I like your ploy as it means you get on the shareholder register and can participate with the company properly. I'm also an HL user and as you realise I'm completely invisible. I might now see if they still do that as a free service. Thank you!
Remember that the 355p was earned on Friday but wont be paid until 16th
49'er, my apologises, i forgot to add my thanks for pointing me in the right direction as to my question, very kind of you and understand now, thank you :)
49'er
Depends of your looking to sell them really, if not then its safer to hold them in your own name directly on the register, rather than through a broker. HL (precovid) used to allow you to withdraw your holdings onto certificates free of charge, and relodge them if you wish later also for free. Obviously if you sell them in certificate form the fees are much higher, so just relodge and deal them online. Im a bit old school :)
£3.55 per share is the special dividend paid to holders of shares at the close of business on Friday.
Novice,
Goodness, I would have thought that was an expensive way of doing it these days! You will need a new certificate as the value of the share is different. It is covered in the circular on the Investor Relations section of the company website: https://www.pennon-group.co.uk/sites/default/files/attachments/pdf/pennon-circular-june-2021.pdf part II section 11.
Oldfortyniner,
So do you mean if I had held shares before today I would have received £3.55 divi per share? I thought the divi was eroded by the shares repricing?
So then, following the consolidation, do those (such as myself) who hold their shares in the old fashioned certificated form receive a replacement certificate with the new holding?
There wasn't one.
On Friday the old shares closed at 1134.5p. Today new shares opened at 1120p. The shares are different as they have different face value.
Pooroldman, How can they sell something, give you the money and still be worth the same.
You have unrealistic expectations.
They didn't steal 1/3 of the shares. This would have fallen by 355 this morning without. So they swapped the fall by reducing the shares, lots of companies have done the same.
This was a forced sell of your shares, you can buy them back with your cash if you want. It was clearly explained. Which bit didn't you understand?
And dont forget the tax taken off the 'return of your own money' under the deal if you hold a reasonable amount and exceed the £2k divi limit.
I know if you add the divi it comes out about the same value as before but they stated they was giving the shareholder a special divi and return of capital. So by saying that you should be better off by £3.55 a share but as the have stolen 1 of every 3 shares you had your holding value is worth 1/3 less so comes out about the same value as before the split if you add the divi.
What was the sp before consolidation took place today?
Poor Oldman, It wasn't a trick. You should be the same relatively not 3k down. I would relook at your figures there might be a slight difference due to rounding and share amounts not divisible by 3 etc
Basically you have swapped a tenner for a fiver and 5 one pound coins. You might not like all that change dangling in your pocket but your not out of pocket.
It was a trick for the shareholders giving us £3.55 a share special Divi and then taking 1 of our shares from us. I worked out my holding before this came in and after i lost my shares the price difference was about £3 k less , Even if added the SPECIAL DiVI it was still a loss from before, so it was a special divi and a return of capital to shareholders in name only. I did not see all the Directors buying large amounts ? I sold my holding last week as it didn't look /feel right . I used to work for Pennon some years ago and always non logical things going on. The share price has to go up a very long way so you can say that you had a special Divi Payment for shareholders. This is just my thoughts some people might disagree with this but good luck to holders.
True - missed that.
Thought those shares were an award oldtimer to CEOand FD
The new shares seem to be off to a solid start this morning, buoyed no doubt by purchases from the CEO and FD. Now comes the time to be patient and watch for a suitable opportunity to buy back in. Good luck to any doing the same.
Yes was thinking that Gerry as they announced the dividend when there were 3 shares so to speak
An orse told me "Subject to shareholder approval of the proposed share consolidation, the final dividend will be re-based to 22.46p per new ordinary share. For comparative purposes the total dividend for 2020/21 of 21.74p will equate to 32.61p post consolidation."
22 July 2021 Ordinary shares quoted ex-dividend
"the 25th July dividend must be based on the consolidated position also"
True, the dividend will be paid on the new 2/3rd lower amount of shares left in your account. You can buy more with your cash though
"My reading is that 355 is the dividend , nothing related directly to the consolidation"
It is related, due to paying you 355 they are taking away x1 share out of x3 to maintain the share price around the 1068 price when announced. With out the consolidation the SP would drop by 355 on Monday. its a 2 for 3 swap.
No it's not a co-incidence , they know it is going to be roughly a third - "broadly similar level "
----
It is anticipated, therefore, that the market price of each Ordinary Share should remain at a broadly similar level following the Special Dividend and the Share Consolidation. The current ISIN (GB00B18V8630) in relation to Existing Ordinary Shares will be disabled in CREST as at 6.00 p.m. on 2 July 2021. A new ISIN (GB00BNNTLN49) in relation to the New Ordinary Shares will come into effect at 8.00 a.m. on 5 July 2021.
It is not a coincidence that the special dividend is the value it is related to the 2 for 3 consolidation based on the 2nd June share price. The information is all there, either in RNSs or on the Pennon website.
I think Gerry's horses mouth advice is very appropriate, though I don't think he need be too severely self deprecating! :-)
We all make mistakes.