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I'd suggest that there almost certainly won't be a dividend this year as they have a cash flow problem.
How safe is the dividend for this share? Has there been any news on this? Potentially going to change when results are announced?
Thanks
Whoops, missed the RNS on 13th.
Results tomorrow and this has been continually dropping. Leaky ship? Doesn’t bode well.
Well here we are and it didnt drop down there.
The earnings forecast on simply wall street is 42.8%.
Looks really promising at the moment.
Also,M&G bought a 5.33% stake just yesterday 05/12 without waiting for outcome of rights
If the SP drops to near the rights price of 267p,buy more.If it drops a small amount for nothing..However l think the SP will actually rise upon completion of rights so sell if that happens.
It's all tiny amounts..Retail investors seeing a low price buying in without realising their is a rights issue going on
Apologies.
Got the date wrong for the new shares, monies deducted by the 6th, additional shares on the 8th
It’s strange that there are buyers today with the share price diluting by I reckon at least 25p (based on current price ) on open tomorrow. Open in the region of £2.95 is my guess.
Sadly i keep my videndum shares in my freetrade account, which confirmed they do not support any rights issues/open offers.
I didn't realise just how limited they are, and disappointed that I cannot take up my entitlements. That info may help any other naive freetrade users like myself.
Anyway my question is if anyone can help, has the dilution already occurred ? If it has I won't bother to sell.
But having read the timeline it looks like the new shares aren't admitted until dec 8th, so it would be in my interest to just sell and avoid the dilution.
I can't see much interest in selling at the moment. If people were keen to sell they could have sold yesterday at up to 340p and still taken up their open offer entitlement.
Usually the answer is yes,as people sell their new shares..However this time the shares should actually rise after completion..This is because the shares are at a rock bottom price,and people will hold on for medium term,much bigger SP and profits on their holdings
Would we expect the share price to go down to the 267 ish mark on the 8th December?
Well done. You should qualify for the 267p open offer entitlement too, as they went ex from open today.
Invested here yesterday on some back alley chat. Lovely rise, will take my winnings.
GL all.
I take it holders will want to take up their open offer entitlement in full. I may have missed it but can't see the ratio in last night's RNS but it will be in the prospectus. From the number of shares quoted it looks like 2 new shares at 267p for every 5 existing shares held.
Then i'll be looking for 450, easily, before end of Dec.
lots of news to come about film industry cranking itself up to make up for lost time. lost of business to be had.
Admittedly that won't please people with an average up at 1200 but considering the 5 year average is about 1000p there's plenty for new buyers as far as potential. it's a recovery stock... just depends if you're one of the rampy day chasers looking for a bagger in 20minutes!
While it's true it halves the value of the current share price, you have to accept that today's price is the lowest low it's been and there is the expectation that it will climb back. so, if you want to be more accurate, look at the price pre SAG AFTRA strike and halve that and that's the target price these new shares will be looking for. there's buggger all value in the news shares being sold now so they're in it for the long(ish) haul.
I'm no expert but this doesn't look good... £125m in new shares? Essentially halving the value of existing shares?
Details of proposed capital raising have just been issued.
Except Stephen Bird (CEO) said during the presentation on 26 September (in response to caller question) that they would need to decide and let people know within "next month or so" what they were doing to strengthen balance sheet - so they either need to confirm rights issue, or that they have found other means in short term to avoid one. Absence of any update will just prolong uncertainty and stock price will just drift down further. And further...
Last year interims were in August and update on 28/11..However this year interims were in late September so either no update,or one in December..Finals are on 28/2/24..