Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Just realised I should have sold tomorrow . But they are consolidating tomorrow 6 shares for 7
It says on the dividend info if you hold this on the 28/5 you will get the dividend paid 16/5 . I sold mine today so hopefully that is true
for the special divvy its tomorrow
Does anyone know the date we go ex div thanks
Didn't actually know this as I don't trade shares for the divi. But reading up on it,everyone has a divy tax free allowance of £2k. I'm looking to move on once divy paid as long as the sp is reasonable
Yes, if you don't want to lose the fraction.
Thanks Terraplane so it would be a good idea to make mytotal holding divisable by 7!!!!!!!!!
Fractional entitlements
"The Share Consolidation will replace every seven Existing Ordinary Shares with six New Ordinary
Shares. If an individual shareholding is not exactly divisible by seven, the Ordinary Shareholder in
question will be left with a fractional entitlement.
Fractional entitlements arising from the Share Consolidation will not be allocated to Ordinary
Shareholders but will instead be aggregated and sold in the market. The net proceeds of the sale, after
the deduction of any expenses and/or commission associated with such sale (including any VAT
payable on the proceeds of sale), will be paid in due proportion to the relevant Ordinary Shareholders,
save that where any one Ordinary Shareholder’s entitlement is £5.00 or less, such Ordinary
Shareholder’s entitlement will be donated to the British Red Cross in support of the Ukrainian relief
effort."
So, if your leftover fraction is worth less than £5 (after deductions etc) you get nothing but the warm glow of having made a compulsory donation to something which you may, or may not, support.
Full document here:
https://www.tateandlyle.com/sites/default/files/2022-04/geminishare-consolidationcircularfinal.pdf
"You will now own 300 shares instead of 350" makes it a bit clearer.
No you will get 350 shares divided by 7 multiply by 6 = 300 shares will be worth 300x whatever the day's share price is.
If you had 356 shares you would end up with 305.14shares .what happens to the .14 of a share?
Can you please help me understand what effect this will have on my shares:
I now have 350 shares in TATE, if I was to sell those today, value = 350*£7.67 = £2,684.5
If the board approves the proposal, does it mean that I get:
350 * £1.07 = £374.5 in special div. + 350 /7 * 6 * 2.916 = £874.8 = £1,249.3??
What about the odd bit of shares left after divide by 7 multiply by 6? Could be over £7 for some people . Been ripped of before i.e Whitbread and Tesco!!!!!!!!
Thebogis.. agree since I have had similar experiences with other share consolidations namely TESCO last year. My calculations showed that if the share was not held in an ISA or SIPP, depending on the amount of your investment,
you would end up paying tax on the "Special dividend" !! The only way round it seemed to be if the company called it
"Return of Capital" instead of dividend.
Regards: Jaffjoon
Give with one hand take with the other, to break even on the share share price as its priced today it needs to rocket to £8.85...really?? That would leave us with the special divy as a bonus. Bet a half empty packet of crisps we will be worse off after all this is done. Ho Hum
After last few days, especially yesterday i was expecting a crap set of results. You know what its like someone always knows something b4 the PI's do. However pleasantly surprised
Nice trading update. Looks like we should be on the up again
great for trading.
I would not be selling at this time.
Tate has a new CFO, taken from Mars a couple of years into its transformation programme. It is the kind of company, by its stability and underperformance, that would attract private capital. It is selling off "underperforming assets" - well, arent they all?
What to expect tomorrow?
Having sold at yesterday 732 bought back in to average lower.
No ??
Have these actually been sold yet?
Certainly going for gold today.
DYOR
Price 730
Bid for takeout 850
seems to be overlooked but great to trade.
2022 has £8+ all over it with a few pullbacks along the way.