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Gazzleberry
yes agree that a Special Dividend is different from a return of Capitol.
However a Special Dividend can be restructured as a return of Capitol. Which I am expecting AMC to reveal shortly. GL
Indeed Gazzleberry,
a good article to start with......
https://mcl.accountants/news/dividend-tax-rates-april-2023/
On 17th November 2022, Jeremy Hunt also reduced the annual dividend allowance from £2,000 down to £1,000 per annum effective from April 2023. This annual dividend allowance will be reduced further down to £500 per annum from April 2024 onwards.
Dividend tax rates applicable from April 2023 onwards remain the same as 2022/23 etc.etc.
Personally I believe you should "wrap it" SIPP/SSAS/ISA/Offshore?/Trust......wherever you can.....you need to take advice if you are HNW.....or if you have limited knowledge on Taxation and Trusts etc.
Personally I have most of my stocks in a SIPP....and I operate it legally where I pay no tax on withdrawals yet get tax relief on contributions added. This also helps to "geer" up the investment.
There have been recent changes coming in from April 6th which will reduce our CGT allowances....so yes Gazzleberry...it is good for each to do a bit of reading up on this!
Sushi, your figures are based on NAV.....personally I see at least 50% from today.......GLA
The Buyer has transferred the total consideration for the Disposal of US$35 million to the Company and receipt of funds is expected imminently.
Just awaiting the receipt. Funds are already transferred. 1.8 pence for 1.64 and 0.5 pence left over in a cash shell. 2.33 total value. Best thing for free money.
1.8 PENCE and notice that the special dividend will be a return of capitol should get this over 2.0 pence.
Then the company x dividend is still worth about 0.5 pence. Why not buy at 1.64 and get value of 2.3 pence? That's got to be worth another 35% upside.
Googling "how long does an international transfer take" overwhelmingly returns the same response from various outlets - 1 to 5 working days depending on currency, size and checks at either end (country dependant)
I think we will probably hear something Monday morning. Anything before is a bonus.
Depends on the currency (dollars usually quick) and method (presumably not using SWIFT?). I think some more patience is needed and don’t be surprised if this drifts into next week.
International can take up to 72 hours
Gazzleberry.....Thank-you for clarifying....and I totally get where you're coming from....and I think 95% or more CEOs fall into the same "ramping" spiel..... until they can't ....lol!
They always seem to be ok with their bonuses, options, and performance rights...whatever mess the SP performance does for the private investor (the bottom feeder owner)!
I was reviewing my trade history in AMC just now....and what with averaging down and making a terrible decision selling a block @ 0.8p....my overall average after buying yesterday is now....wait for it.....you can't make it up!
just under 1.79p.........................lol!
Wonder what they used to send the cheque. Even my slowest bank transfer normally takes only 24 hours. ??
I suspect most shareholders would prefer all the cash was dividend stripped (not just 1.8p) and AMC called it a day. Some LTHs may disagree and prefer the hope of rescuing lost value via a RTC but I suspect these are few and far between. A bird in the hand….
Gazzleberry, The point I think you are missing is that post 1.8p being paid out to us, there will be roughly £7m left over in then company bank account with no debt....so that will give it a NAV of £7m = 0.5p per share.
The share price might end up being between 0.4p and 0.7p...that depends on the market and any confidence in the RTO?
So at any stage post 1.8p being received by each of us you can sell your shares and realise the cash settlement of the new SP on top of your 1.8p.
I don't know whether you think I am being "misleading" in making this point........personally the point stands up IMO. I am not a newbie but chose to sit out until yesterday's news in case it didn't materialise, which it has hence rebought in.
I much preferred our last offer and was disappointed with the outcome!
GB
"Everything has to be scrutinised for what has been said and, more importantly, what has not been said"
Agree, I would go as far as to say this about 99% of the CEOs on AIM!!
What I would say is the declining share price and delays over the many years have allowed me to average down to the point that IF the dividend payment becomes reality, my loss is massively smaller, although the investment amount is larger. So in some ways, I am grateful for the decline!!! After the dividend payment, I would not invest any more cash but will keep some shares in the locker just in case something happens !! unlikely though.
For new investors, it’s an opportunity to invest, earn a very small profit (based on the 1.8 div only and not the residual value left over ) and have a free carry of shares. This scenario can only happen with AMC!!!
BUT the risk is as GB, MD and many others have highlighted.
Gazzleberry,
You entirely reflect my sentiment as a LTH - no chance of another penny in this company, regardless of any potential/ imaginary return.
RY has lost all confidence years ago.
I will take my 1.8p divi, and even then I would like to see in my account before I believe it.
Good luck to all.
I agree, it’s a shame the dividend won’t be more than 1.8p because the fear is the rest of the cash will be squandered. Still waiting for confirmation of the receipt of the cash which the RNS says is imminent. Define imminent…..
If you consider the radio silence,which if added up amounts to literally years.Then take in to account the amount borrowed at ridiculous cost which diluted the value so much,there is no goodwill to fall back on for Robin Young.If the last year has been wasted and nothing is lined up and ready to go within 90 days of completion the cash cow will just continue .The negotiation skills will have to take a massive leap in order to produce any shareholder value.For long term holders the only way is to get the hell out is if there is a spike that gets anywhere near break even.If that opportunity doesn’t arrive(do not hold your breath) then await the opportunity to vote them out come December at the agm and move on.
MD
Pappiklon
The actual reverse takeover process shouldn’t take very long, that is one of the main advantages over IPO which could take months vs weeks (omitting any snags).
I am led to believe that AMC has been in informal discussions with candidates, including opportunities going back to when they invested in NRR. In a recent video, RY did say that they have also been approached by several people. But nothing concrete.
I am hoping that during the delay, limited as it was, they have continued discussions and moved some forward.
My understanding, worst case scenario, they have 12 months from completion to do something or will have to be delisted.
Gazzleberry is expecting the worst from RY but that’s a sensible cautionary position as at least he can’t be disappointed. He may have a point. I’m a newbie from October 2022 so really only came in for the dividend and anything else is a bonus
Maybe your jaded negativity is misleading? You say it is worth zero pence above 1.8 p? That is not a given.
That would make some that have sold out in the last 9 weeks very happy Dingodog1......but no...the record date will be in the future since "the Company intends to pay a special dividend of 1.8 pence per share to shareholders within 90 days of receipt of the consideration". It is mostly baked into the SP at present.
You cannot backdate a dividend date. So if you are a shareholder when they announce the dividend then you will be entitled to the dividend in full.
Do we know the ex-dividend date? And could this be prior to today? Or must it be in the future?
It would be quite the rug pull if the BOD announced that the dividend were to be paid to all shareholders on the register as of, say, 31/12/22
price is 1.7 pence. Total value is 2.3pence
Fair value 2.0 Minimum.
Anyone selling for less are stupid.
As long as the money lands, not counting any chickens.
Sale of the century. Cost price. 2.33 pence. Yours for only (as I speak) 1.72p That must be about 33% upside?