Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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Sorry Siddeek, investing.com has a flag to that effect, but nothing on IMB corporate website, hence my second post.
Two desperate men, Sunak and Hunt, given the state of UK finances !! Tobacco smokers and vapers will just have to pay more !!
Looks like the buybacks are starting to kick in already!!
Big tobacco firms Imperial and BAT fall on vape tax plan
Shares in tobacco giants British American Tobacco PLC (LSE:BATS) and Imperial Brands PLC (LSE:IMB) fell on news that vaping and cigarettes could be hit with new taxes in the UK.
Prime minister Rishi Sunak and chancellor Jeremy Hunt are mulling introducing a new tax on vapes at next Wednesday's Budget, according to media reports.
Currently vaping products are subject to VAT but not the same levy as is applied to cigarettes.
Tobacco duty could also increase at the Budget, to ensure that vaping remains cheaper, reported the Times, which first broke the story.
Last month, plans were announced for UK-wide restrictions on disposable vapes, to tackle the rise in youth vaping.
Imperial Brands, which owns the Blu vape brand and tobacco brands including Golden Virginia and Richmond, shares fell 4.3% while BAT, which owns Vuse vaping brand and Rothmans and Lucky Strikes, was down only 0.6%.
"Although the industry is jostling for position in the vaping market, given the volumes declines in tobacco, these products are still a relatively small part of the picture," said market analyst Susannah Streeter at HL.
"Investors had also been expecting greater regulation in the sector, so a potential increase in tax isn’t a wild surprise and given they are global companies a change in UK fiscal policy won't move the dial too much."
Where did you see the results tomorrow
Can't wait for the buyback announcement after the close today! Should be a very outsized amount! At least one million shares plus!
Hmm, could be a broker downgrade or maybe someone knows something we dont
Cannot figure out why the massive fall in price today! If this is related to the tax on vapes, that makes no sense, as it's not like IMB has a premium attached to it based on its prospects in vaping.......I am stumped on this one! Picked up a few more shares for better or worse!!
Maybe they are going to revalue the business as bats did a little while ago
Although perhaps I should trust IMB's website more than investing.com when it comes to information about upcoming announcements...
As the price didn't begin to fall until about 9:30 I don't think it is news in the papers. Also BATS haven't shown the same fall. With results due tomorrow it looks very much like a leak to me.
Terminal share will end up at 12 quid with dividend on chopping block. U.K. shares now known in the city as “ the bug zapper “ trade haha, you get too close to any of this U.K. listed dross or even buy it, you just get zapped. Net outflows every year since brexit vote, it’s maths I’m afraid, will only go down, enjoy. You’d be better off buying btc😂
Good sp for buying their shares back!!!!
Isn't that a good thing - it means they are not going to ban them! the govt needs tax
Possibly tax in the newspapers of the government taxing vapes?
Anybody kn ow the reason for the fall this morning?
Are unlikely to follow suit. They have more pressing problems like putting food on the table and keeping warm.
Thank you
Ex divi next Thursday,payment 28th March
Are they still paying a dividend this month cheers all.
I was interested to see that the proposed new law to ban sale of disposable vapes had no discernable effect on the SP here. Other countries are likely to follow suit.
Jing72, just saw your Dec23 post. Consolidation has been toyed with for years and YES there are some very strong arguments in its favour especially now with the anti-Tobacco lobby in full activity !!
Is this the fallout of BATS revaluation interesting to see that Kenneth Dart has increased his holding to over 10% he also has 6% in IMB. Maybe sector consolidation is on the cards any thoughts anybody?
I see that The Capital Group Companies, Inc. have just acquired another 5% of IMB. They obviously see the dip in the share price as an opportunity to double their holding.
How were they to know which way the sp would go?