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What if any is the impact for shareholders of the ongoing transaction in own shares?
they should change that to 315,
Transaction in Own Shares................
Now, it's 295p, only 5p away from 300p......a Santa rally will sure push it up to there and beyond....lol
SLA has been trading between 220p and 270p for many months. Target Price only 215p???? Must be trying to be funny....
I think they are the worst de-rampers!!!.....
That's clever of them when the SP is near £3 now!!!
....and 'overweight'...
.....but why the SP is down? Grrrrrrrr....
SLA remains a good investment, imo. There's a CEO with a new approach and with direct experience re. What SLA clients want. Will be interesting to see what happens.
I have sold all my SLA shares this week and moved to AV.
Have taken a small net loss, but glad to be out. This is a much slimmer business than the beast I bought in early 2018.
No doubt SLA can fly high now as "I am blessed with natural skills of selling shares just as they take off and buy them just as they drop like stones". Hence the name C S D I - Crap Share Dealing Ideas
GLA - CSDI
merged not bought
As I recall we were given the option to sell the B Shares straight away but after the 7/8 consolidation the value of my holding was almost unchanged. So a none event really and then they went on to waste 750m on buy backs which have had no effect at all. I think Standard Life were much better on their own, relaible stable SP and consistent decent divs - Then they bought the basket case Aberdeen Ass Management and the rest is history
It would do that now. As I have just sold today out today LOL.
GLA
Cheers CSDI
Strong buy...............
:+)
Yes you are correct. It was not a dividend.
It was a capital consilidation receipt - which should have been tax neutral.
Cheers
Oh well. Just gone and done it ! Sold SLA @ 285.749 and bought AV @ 333.5p.
Taken a small loss on SLA based on capital loss of 19%, and divis paid for 16% of costs.
Time will tell if a good decision or not, but my trade based on belief that AV has better prospects than SLA from here.
SLA is a different and much slimmer beast to the one I bought.
Let's hope that AV's P/E ratio can improve from this low rating of 6.4 and take the SP north.
They will be using it to us back the shares. As they are lowly rated, IHMO, is a good move.
The Indian business has been a good shareholding investment, but not one they control so not a bad move to liquidate it.
When you strip out the value of the Indian shareholding’s, the fund management business is valued at peanuts so the buybacks add vale.
You keep calling it a dividend, which it was not. If it was it could have been reinvested through the DRIP plan. I used the payment to repurchase the shares lost through the consolidation.
Another sale of shares in the India business. Proceeds to be used for corporate purposes (ie the next dividend and some interest payments).
The rest of the India business is worth some 1.2bn what will the BOD do when they have spent it?
Hope the “core” business is performing well otherwise might as well shut up shop.
No wonder I feel conned. got my holding reduced by 7/8. Did get div of 33.9p per share in Oct 2018.
The SP was around 360p in Sep 2018. So here we are 2 yrs later.
25% reduction in SP
12.5% less shares and therefore 12.5% less income each yr from divis.
A £750m buy back to increase SP - that's worked out well hasn't it ?
And that is what they call a "Return to Shareholders".
so now just have to manage a way out of the predicament.
not too far from breakeven with the 3 yrs divis.
sitting on the fence with idea of swap for AV as I always get it wrong.
In last 12 months had
moved BP to join RDSB
Did move VOD to join BT
Swapped HSBC for RBS
and since got rid of BT and RBS and mainly added to IMB & GSK.
If you were a holder you got them, which was followed by a share consolidation. If i remember correctly, the money was from an asset disposal and therefore could not be paid as a special dividend. Could be wrong on this though.
I've held SLA since it came the market many years ago. Although I don't see the merger as the best move I am reluctant to sell as the dividend has up until now made holding a reasonable thing to do. But will the dividend hold up.. I don't know the answer. I also hold LGEN and I see that as a better long term hold now than SLA and am really swithering as to selling SLA and going all in with LGEN. Not much help but as the saying goes DYOR.
Just reviewing my position for this share which amounts to approx 8% of my current pension value. Having bought in 2018 at average price 348p, I am currently 23% or so down on capital, which has been offset by 3 yrs of divis which covers about 16% of my costs, leaving a loss of around 7% if I sold.
Looking at AV seems to give an attractive replacement. My favoured metrics are P/E ratios and Divi yield, although I know these can be manipulated by presentation. Aviva has a forecast 2020 P/E of 6.6, compared to prev 5 year average of 17. with a yield of 21p (6.5%) from the most recent Q3 update. My current holding with SLA shows forecast P/"E of 19 and similar yield.
LGEN is also considered but but its forecast P/E of 8.9, compares clsoer to its 5 yr ave of 10.7 than Avivas.
Latest broker forecast (big pinch of salt required !) shows target of 453p for AV; 273p for SLA and 263p for LGEN.
Am I missing anything obvious ?
Cheers - CSDI
Just found article from August 2019, when SP was £3. SLA to return £1.75B to SHs. £1B thru issue of B share and £750m thru share buy backs.
What happened to the B share - I've got none and not been offered any. Don't tell me it went to institutons.
The £750m buy back in progress - that would have bought back say 250m shares @£3. Could have been approx 30p divi per share. (based on est of £7.5B market cap with 2.5B shares ) But No - we have SP approx 270p on 2.2B shares and market cap down at approx £6B.
Some one have the guts to tell the BoD to stop this waste of our money !
Couldn't agree more. Either the BOD are lazy so use the buybacks as an easy way to increase earnings per share or inept (or both)
Worse still if their fat bonuses are based on earnings per share
CSDI and Riskingit
I too do not like share buy backs.....as you say the theory is that the money goes to shareholders. The reality is that is goes to exiting shareholders - why would you pay good money to these over more loyal shareholders is something I don’t understand.
There is a trend for the SP to rise when a major buy back plan is going on....perhaps not surprising when there is a buyer who is contractually bound to buy the shares for a commission. This suits management as the SP looks stronger, but once the BB programme ends the SP falls so there is little longer term gain for the remaining SH. I reckon there is reasonably safe money to be made by buying into the programme and then selling before the BB a programme ends.
The true shareholders would rather have dividend or the company invest in itself.....to generate better returns. BUybacks are an admission the BOD can’t do better.