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I expected them to pay the divi before consolidation the number of shares. Either way, should they not consolidation the sp too? I'm currently showing 50% of my investment has disappeared!
... also, does this mean I only get the divi on half the shares?
This looks like a right-royal *** up to me!
That is correct
on every dividend the SP drops by the amount given in the dividend
in most cases people do not really notice it over a longer term investment - but in this case it is very large - and that is exactly why they did the consolidation to give the appearance of share price being roughly the same
if consolidation was not done the SP would now be showing as approx 105p
The dividend payment will be on the original number of shares as it has gone ex divi before the consolidation
payment for the divi is due on 23rd May
CAPRICORN ENERG
Another name change .
Another loser might be a special div coming .
MM's taking everyone for fools with the massively wide spread & sharp drop in the share price.
It should have opened at roughly £2.15 bid & £2.17 Offer following the share consolidation.
A 7p spread compared to the 0.8p or less that has been there for days is just ridiculous, MM's are just loving the confusion & profiting handsomely from it
LOTM
Where are all those who believed the hedge funds rubbish about £3+ a share and voted down a £625m dividend and £2.75 share price? Kite lake (one of those funds) has sold 5% of its holding.
How there is hardly any discontent among all of you amazes me…..
Barclay's still haven't done the corporate action :( so I still have the old number of shares & not able to trade the stock either way.
Can't even buy the new stock, which is really annoying as the price will rise once everyone get's used to the change, not to mention the large wad of cash next Tuesday.
LOTM
Would have expected better from a major bank
Rags I am raging, although there is nothing I can do about it.
I am approximately £10k worse off than if we had accepted the Newmed deal. Even if by some miracle the SP goes back to 270, we only have half the number of shares now. And why would it go to 270p on the basis of the Egypt asset and some legacy payments?
What benefit did the one billion tax rebate provide shareholders?
All that happened is par for the course. This happened last time.
1. Ex-Dividend date comes
2. Shares owned gets reduced (consolidated)
3. The new value reflects dividend amount (so your getting 50%)
4. You banking on long term investment and price to recover to "cost per share" - this is your break even point
Cheer up... we have a potential Q4 dividend, plus 25 mil stock repurchase(which should increase the current value....
The last BOD did us dirty with a Tinder offering which passed on ZERO value to shareholders.
I think in time they will sell this company and thats when you can cash out. Think long term.
Lessons from the past.... always pass on excess monies to shareholders to reflect "tangible" shareholder value: from the ghost of the previous BODs .
Then with time, they will back you for merger opportunities.
I can't really comment about last year's competing deals/bids as its several years since I last looked at what I remember as Cairn Energy.
However I actually like what's about to occur with the company.
Existing shareholders ( happy or disillusioned) by recent events have big decisions to make.
If you just take the special dividend & don't re-invest it back into the company's shares then you're not going to get the sort of £2.70 value that was on the table previously, for quite some time.
However if you do re-invest all the cash back into the new shares, then you will probably end up getting a return of over £2.70, in a reasonable timeframe.
If you think about it this way.
The company has manage to buy in around 55% of the shares in issue for just £2.176 (70 x £1.15 = £80.5 divided by the 37 shares that were removed by the consolidation).
So just over 166M shares so far have lost out on that other £0.524 ( by so far I mean that the share buy back will increase that number but we don't know by how many or at what average price per share yet either).
That "lost" money should now be added to the overall pile & divided by the 148.5M shares left in issue. This works out at £0.5875. So with everything else being equal. You'd be expecting your new holding of CNE shares to be worth £3.2875 instead of £2.70 and the $25M+ share buy-back will only continue to increase that figure slowly but surely.
Now there might be better investments elsewhere to invest in, depending on your views, but what I'd say for sure is that CNE is a far better investment opportunity today than it was last week.
LOTM
Another load of shares in and out today .
Another split were I keep getting less shares .
Can not get my buys up maybe a different name completely
24/5/24 Split Adjustment
6/10/23 shares in and out.
16/5/23 Consolidation ( stock split )
11/1/21 Split Adjustment
Capricorn Energy plc (formerly Cairn Energy plc) is a British oil and gas exploration and development company based in Edinburgh, Scotland.