Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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if they were planning to pay theyd have done it, dodgy business
Love that last RNS paragraph.
My grateful thanks horace - I have way over 1000 shares :)
If you have fewer than 1,000 shares, you will get cash payment for your shares. If you have more than 1,000 shares you will keep your shares. On the basis of precedent, there's a chance the shares will be divided by 1,000, e.g. if you have 10,000 shares, you will get 10 new shares, but we'll have to wait for the full circular to see if this is the case.
Hi, could anyone help with the implications of this for me as a small share holder plz. I.e. will it benefit me or not? Thanks :)
Are we about to find out something very soon ..... some rather nice buys on the board
I think the SP movement is due to regular PI's buying or selling the shares. The shares are illiquid so it doesn't takes many trades to move the price.
Answer on 15 Feb -- still relevant -- is he still lowering sp??
Not much buying
The dividend is not a cash dividend. It's a dividend in specie of shares in a different company (Midway) to which rights to an award have been transferred. The $27m award, if paid, goes to Midway (outside Belize,perhaps to avoid Belize tax etc?). I guess Midway may then pay out to shareholders (tho not guaranteed!). Given Belize has a population of only c 360,000 the award is a big number. I guess they fight tooth and nail to avoid paying it. I have no idea how long this saga will take to play out...
Is dividend due to be paid on 19th june
RNS should be tomorrow. As it was mentioned we'd get one on or around 9th June
Not sure my guess is with the latest news of the injunction lifted and the chance of getting a divi it's fairly bullish, we have to wait and see
For tomorrow and this week ?
Chief Justice Kenneth Benjamin has lifted the injunction, which once barred Michael Ashcroft’s Belize Bank from seeking to enforce a US $50 million arbitration award against the Government of Belize.
SM where do you see sp heading next week?
If you read between the lines it seems there setting up a mechanism for Gob to recoup some of the money they have paid out, so say they buy 20 millions shares then they would get back 20 per cent of there cash they have to pay cihl or if they takeover then they would get all of it. They going to do a deal with ashcroft looking interesting though, got to in soon to get divi
I just re read it. There is more info on the dividend on or around 9th June.. that was yesterday. So im expecting an RNS on Monday. Hopefully its a really positive one
I have approx 13000 shares in CIHL
When will we know for sure ?
Shareholders will get shares in a new company ("Midway") which may return $27.5m if the arbitration award due from the GOB is received. The amount of $27.5m is currently included on the CIHL balance sheet as "GOB receivable". With its transfer to the Midway balance sheet, the remaining net value of CIHL would be approximately $30m (or $0.30 / 24p per share). Of course, the market value of a company can exceed the NAV if the outlook looks good! In addition, there is a second arbitration due from GOB which hasn't been mentioned. So I would cautiously expect CIHL shares to be worth at least 24p each with the possible bonus of another 21p per share if the "Midway" arbitration award comes through. And a further bonus not yet discussed from the second arbitration award.
How much dividend will shareholders get?
Google showing 20p paid but my broker is showing is 19p to buy. Strange
Its going to be a real rollercoaster as this could be priced anywhere between 18-40p based on the RNS yesterday, something suggests it will find a steady mid point until panic buying sets in again in around a weeks time. Then we will know if the upper 40-60p possibilities are real or back to 15-20p range. Its definitely one to make or break a portfolio ...... but it won't be boring!