Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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The next dates shown on the timetable are:
Ex div date. Record date Announcement date
01/06/23. 02/06/23. 24/05/23
08/06/23. 09/06/23. 01/06/23
The RNS confirming the receipt of the 35m USD was 14/03/23 and the Board stated they would pay a 1.80 pence special dividend within 90 days of that date so the latest date it can be paid is the 12/06/23.
On the basis that it takes time to create a list of shareholders who are eligible to receive the special dividend and that there are specific dates that are set by the LSE for the ex dividend date and the record date then it is getting very near to the 12/06/23!
AGE
Am I right in saying the record date needs to be a minimum of 14 days before dividend payment date?
Therefore we could have a dividend RNS anytime between now and next Friday?
I watched part of the Tom Cruise Last Samurai film last night. The Board of AMC would learn a lot about honour and integrity from watching it!
If you state you are going to do something then stick to your words!
AGE
The LSE!
Search for LSE dividend procedure timetable
AGE
Hi If the RNS on the 14th March is correct and they are taking the 14th March notification as the payment date then we should receive our Dividend in the bank for the 8th June at the latest, not sure what dates the ex dividend will be announced or are their rules for Aim reference notice period for announcement of ex-dividend dates...
Source?
I got the information re the various different dates from a document called dividend time table and it is issued by the LSE.
AGE
Well RY does like a Thursday that’s all I meant.
MD
Payment in our bank in 14 days. Do nothing and take the 1.8 pence. Hold for shares worth 0.4 pence. 2.2 Total. Too late to buy now.
Is the day tomorrow?
Age knows a thing or two. He gets it right more often than not. Return of Capital he says. So 2.2p -2.3p value. Wait for the 1.8 and hold on with 0.4 value. If they do another good deal that 0.4 could grow....Good luck
As I've said before they will probably take this "to the wire". If you read the RNS 3rd October 2022 proposing the dividend Age's calcs are not valid. The ex-div date will be the same as and the record date and payment date may will be the same or very soon after, which could be as late as the 90th day from receipt of funds (assuming Robing keeps to his dates - which he rarely has done in the last 15 years!):-
"The Board proposes that the record date and payment date for the distribution of the post-Completion dividend shall be no later than 90 days following receipt of the consideration payment."
Therefore I don't think there will be a chance to buy between ex-div and record date. They will simply RNS at 7:00 am that the payment will be made to any holders on the register at close of play yesterday.
The only way to make sure you get the divi is to buy before the RNS!
Well could Thursday be the day,we can always hope
MD
Just poor communication again from another aim company!! Not sure they are impressing investors for their new venture!!!
They haven't done a runner have they?? Not replied to any of my 3 emails!!
28 days to go, a lot of information to give, timelines and details of the payout and tax position.
Well I liked his valuation formula Gazzleberry......nice to dream £ into reality existance? lol.
Here's a more realistic article...https://growthbusiness.co.uk/the-hot-way-to-ipo-288/
Perhaps we'll reverse into a "stonking asset"......back to dreaming again lol.
....I read this on another site......
......and assuming we still have £5m odd left in our sterling bank account on top of the $35m......after we pay out the 1.8p....
......we may still have an SP close to where we are now???
"The historical, floor valuation multiple for AIM Rule 15 cash shell is 3.5 x cash resources. The value can then be improved upon with the amount of ‘bankable’, historical tax losses; 0.25 is assigned to every £10m (of tax losses). So, have you done the maths?"
That makes the odds (possible 100% gain) before knowledge of the RTO? ........even more attractive!
The only thing against this sure bet......is there enough trust in the BOD.....for the market to take us there????
GLA
JulianM,
As I keep saying Robing wants to drag this out as long as he can, his salary has been worth far more to him than what he'll get from the sale as he and his fellow board members hold so few shares.
It's unlikely he'll have a job after October as any still holding will probably vote him out just out of spite!
Of course the 14th March was the date of the RNS but the date of actual receipt could have been earlier,although I guess we will never know. I continue to be very disappointed that 2 months down the line,we are still waiting for confirmation of the arrangements ,which they should have been in a position to proceed with as soon as the funds arrived.
“……..within 90 days of the receipt of funds.”
TDT
Has the “90 days” been stated as just days, or could it be business days? If the latter then we could be looking at end July for payment.
TDT
Thank you.
I hope your/ our, beliefs, thoughts, hopes, wishes, and prayers come to fruition. SOON.
Gilyard
Check the last RNS dated 14th. March, this bit in particular.
"The Company has previously announced that it will pay a special dividend of 1.8 pence per share to shareholders within 90 days of the receipt of funds. Further announcements in respect of the dividend dates will be made in due course."
Receipt of funds was confirmed in the RNS so the 90 days run from 14th. March. so any time around now or at least before the middle of June I believe/think/hope/wish/pray.
TDT
Can someone please remind me please. It’s not that I’ve completely lost interest but after 12 years or I had taken my eye off the ball.
When is the expected payment date and is a time line fixed.
Well there it is AGE,the company that never fails to disappoint.
It’s a fact that there is nothing to be done when someone just doesn’t care
MD