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Started: Wolfbag2, 12 Mar 2024 16:31
Last post: APAP, 16 Apr 2024 10:33
Does anyone know what will happen with these stocks? As they're not tradeable anywhere or if they'll ever be, we're just stuck with them. I may be wrong but it seems unusual to issue shares with no par value. We could be waiting forever...
Hi Lotm-13,
Apologies for belated response - been a bit poorly.
No, the IMP shares no longer listed in my ISA. Instead the Heather and Tapir shares are listed in my share dealing account, but with no values. No information on when/if those shares can be traded but it seems unlikely that any proceeds could be credited to ISA (although I suppose they could be bed-and-ISA in another tax year).
Hi Dramchat :)
Oh No :(
I don't suppose they let you transfer in the said dividend value of those shares into your ISA to compensate for the loss of cash from your ISA ?
LOTM
Just a received Corporate Action note from broker confirming that Heather and Tapir cannot be held in ISA and will be transferred to my share dealing account. I guess that when they are listed on a market, it may then be possible to transfer into an ISA.
Woohoo :)
I got my Heather & Tapir shares today :) (overnight) no value against them & they can't be traded yet but there their :)
GLA
LOTM
Started: LOTM-13, 14 Dec 2023 06:22
Last post: LOTM-13, 15 Feb 2024 09:11
Wow gone Ex-Dividend for the 56.2p a share payout in shares & no drop in the share price at all.
LOTM
Hi suppersaints66,
If you've got in at the ground floor level of all these spin off companies you must have amassed considerable wealth, just like Lord Ashcroft.
If instead you got in higher up the ladder with these investments then you won't be anywhere near as well of.
Good Luck
LOTM
I have lost count of the number of his spin off companies I've amassed over the last 40 years.
Well today Wednesday 14th Feb is the last day to qualify for all of the remaining £10.06 of value from the offer.
Tomorrow the shares will go Ex-Dividend & you'll miss out on the special dividend of £0.562 per Impellam share that's in the form of shares in new investment vehicles - currently called Heather & Tapir.
At 1st this was the least attractive part of the whole offer to me, however I recent realised that this is in fact an opportunity not to be missed!
You are in fact getting the chance to put your money in at the ground floor level along with that of Lord Ashcroft, when & wher else is an ordinary PI going to get such an opportunity you have to ask yourself ?
Each of the 2 shell company's is getting £12.5M in cash & Lord Ashcroft will own approximately 62.9% of each one. In other words around £8M in each vehicle will be his money. Even for someone as wealthy as him £8M x 2 is not to be sneezed at. So he really will be looking for good investments for that cash & we as small shareholders in the same vehicles get to come along for the ride.
GLA
LOTM
Company just announced the next dividend payment of £0.225 per share with an Ex-dividend date of 1st Feb 2023.
So the value of the offer will drop on that date from £10.286 rather than the £10.285 in the thread title (because of the extra 0.1p they are paying out in the next dividend due to there being less shares in issue now) to £10.061 per share.
Which is still a very hefty discount to the current share price.
GLA
LOTM
Last post: LOTM-13, 30 Jan 2024 20:13
Hi Elrathia,
Sorry I didn't see your post until now.
Good question!
Well the bid company has made 3 purchases for something like 355,000 shares & Impellam themselves have bought in over 45,000 shares. There are 2 or 3 insto's who have been mopping up stock in the background if you look at the holding announcement carefully.
I think PI's are avoiding it so far because its a complex offer & you don't get all of the cash at once, but quite frankly the 3 year loan note with 17% compound interest will be a fabulous asset to own etc.
The 2nd reason its unloved at the moment is the fact there's no firm dates as to when everything is happening, once there is I think the share price will reflect the offer more ( I don't think the share price will drop at all when it goes ex-dividend on 1st Feb for example).
3rd reason is no-one can tell you whether all the offer elements can be held within your ISA or SIPP ? which just confuses things further & makes it more of a hassle until people know all the facts.
Otherwise the discount is just plain crazy because its free money of £1.60+ if you own the stock at close of business on 31st Jan & just wait for it all to be paid out.
Good Luck
LOTM
Sorry but i must be missing something.
if the offer is £10+ and present share price is £8.65 why is no one buying all available shares below the offer price?
please excuse my ignorance.
Started: Davidspellacy, 13 Dec 2023 15:10
Last post: LOTM-13, 18 Jan 2024 12:54
Who on earth is stupid enough to be selling the buyer 150,000 shares at £8.25
That's over £2 below the offer price, in other words the total cost of the purchase of Impellam for them just dropped by over £300,000
GLA
LOTM
Reply wasn't helpful in the slightest which is pretty disappointing really.
LOTM
I've ended up writing to Impellam to see what they can tell me about what elements qualify & what doesn't for an ISA.
GLA
LOTM
As far as I am aware you can't transfer from ISA or SIPP into a standard trading account or vice-versa. You would have to sell them and buy again.
Hmm that's some reply!
Spoke to Barclays while arranging proxy votes for the meetings.
They can't tell me what is or isn't able to be held in my ISA until after these meeting are completed !
They don't believe the unlisted vehicle shares will be able to be retained within it thou.
So I have no idea what to do until after the 17th January. I am contemplating whether I can transfer them to my ordinary account in effect doing a reverse bed&breakfast or bed&ISA.
The current official spread & share price is ridiculous, I presume it will tighten-up etc after it gets the 75% vote in favour.
GLA
LOTM
Started: SaintPeter1, 20 Dec 2023 16:14
Last post: LOTM-13, 22 Dec 2023 09:48
Hi RG33,
No the only thing anyone who has sold since the EX-Dividend date is entitled to is the £0.559 dividend that will be paid on 12th Jan 2024.
No Ex-dividend date has been set for the £0.224 cash dividend yet, nor has it been done for the non-cash dividend of £0.561 either.
So if you think your entitled to them, your not.
Season greetings to everyone as well.
LOTM
LOTM-13
Thanks for your excellent summary, but as I understand it, anyone selling after the ex-dividend date, should be eligible for all the things you detail anyway, won’t they?
Good luck everyone, and seasons greetings to all.🎄🎄
Hi SaintPeter1,
Lots of interesting questions ........
I guess it depends how & where you hold your shares.
Mine are in an ISA & I'm still waiting to find out what would still be retainable within the ISA. Until I know that it will be impossible to know how to proceed.
Ideally I wouldn't mind holding on to the 17% Loan Notes - where else are you going to get that sort of yield & for 3 years on your money ! Yes I know its only paid out at the end of the term, but its compounding all the time. 1000 shares = £2582 to start with 3 years later it will be paying out £4254 to you a gain of £1672
The convertible ones I'm less sure of but they are only due to run for 1 year. A 12% coupon is not to be sneezed at but you only end up with a gain of £124 at the end of the year which is insignificant compared to the loan note one.
As for the non cash dividend in the Bermuda company - who knows what they'd invest the cash in etc It might turn into something worthwhile or it might just be a dud, but it only makes up 5% of the total offer price. £559 invested per 1000 shares.
I don't think any of them are going to be easily tradeable as you put it.
There is still £10.285 of value on offer yet the current share price is miles away from that figure.
It seems madness to sell out at £8.50 ish & just give that £1.75 per share away. That's 20% when you think about it & no access to that 17% yield.
Hopefully the bid price rises as more details emerge & the buy-back takes loose stock out of the market.
Good Luck
LOTM
The dust is settling on the Impellam acquisition and I guess that I am unsure what to do now. The intetim dividend is nice but is it worth holding on for the additional dividends? Whrn will the "Effective Date" be for receipt iof the additional dividends? Is it worth collecting the non cash special dividend? Are the loan notes going to be worth holding onto - or indeed will they be easily traded?
So many questions and just unsure of the best way forward.
Started: IgnoranceParadox, 12 Dec 2023 10:25
Last post: shortstop, 13 Dec 2023 09:22
Success, and all without a load of BB nonsense mongers banging on.
Success, and all without a load of BB nonsense mongers banging on.
Very surprised by the bid/offer spread today & the actual price.
No where near the £10.84 valuation.
People need to be aware that you need to hold the shares by close of business today to get the 1st part of that £10.84 valuation ie qualify for the £0.559 dividend, with the shares EX-Dividend after that & the payment is on 5th Jan so not long before you start to reap the rewards :)
Yes I bought some more today! (& yes I wish I had done it yesterday but heyho I've score with all the ones I bought last week.
GLA
LOTM
KAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA
BOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOMMMMMMMMMMMMMMMMMM
so much for £3 a share IgnoranceParadox,
GLA
LOTM
Wow only a 1 day extension to the bid deadline this time round !
That's saying to me that the current talks have an offer price that includes the dividend in that price, ie shareholders will receive the already declared dividend & £x per share.
Going to be an interesting 2 days for sure
GLA
LOTM
Last post: LOTM-13, 11 Dec 2023 08:48
Actually quite happy to see a buy-back notice go through this morning.
Since I can't see them buying back shares at a price higher than what the offer price will be as that would destroy value for everyone.
Roll on Tuesday.
GLA
LOTM
Hmm what has caught my attention is the fact the buy-back hasn't been in action since that last takeover/merger offer extension announcement, which is very unusual given there has been plenty of volume for the company to buy it back if it wanted to.
So I think its crunch time now, either the offer is happening this time round or its going to be dropped.
The company probably knows the ball-park figure that's being discussed & that might stop them from being able to trade now.
Sadly that doesn't really give me a sense of whether the potential offer figure is above or below the current share price !
Good Luck All
LOTM
💯 strong buy and not much else I can say. My opinion only
Hi IP3LY,
As I said, I've already bought 2 lots of shares for the dividend.
I can see this being pushed even higher ahead of next Thursday even with Schroders selling out as fast as they can.
Just think next Tuesday is going to be really interesting to see what happens (or doesn't)
GLA
LOTM
@LOTM: Despite dividend being 55p - this will drip to sub 590-600 on XD - so you will have your chance to buy at £6 (downside is you will not pick up the Dividend)
Good luck with whatever you decide to do.
Started: LOTM-13, 15 Mar 2023 09:26
Last post: DramChart, 29 Mar 2023 12:18
Thank you LOTM-13.
I understood that Lord Ashcroft, holder of 62% of shares, announced last year that he intended to explore options to sell his holding. I haven't found any updates on this but, given the size of this holding, it seems possible that the sale could result in an acquisition or merger.
DramChart,
I have no idea about any bid situation with IPEL.
I wonder if your getting confused with the current share-buy back program that is causing all these complex daily announcements ?
The company has set a monthly buy-back limit of £0.5M that there broker is currently carrying out.
I myself are not familiar with all the various discloser rules on AIM stocks, but it looks like the broker has to disclose both the number of shares it bought each day its trading as well as the number it has then subsequently sold back to IPEL for them to cancel.
To be honest I only bought it to get the big dividend & then sold it for a small overall profit.
However having said that, I am watching it now, I think this has great potential, its just a case of working out what price it becomes a buy & hold, given the small number of shares in issue, the return of normal dividends & the tiny share buy-back program which I'm guessing is limited by the lack of available stock. Plus the market turmoil at the moment.
They might be better, doing 2 things, a share split & a return of capital all at the same time. Which would make it easier to carry out further share buy-backs in the future.
So they could do for example a £22.5M return of capital £0.50 per existing share along with a share consolidation of 11 new shares for every 12 currently held. That would take the number of shares in issue to around 41M & then do a 2 or 3 for 1 share split immediately afterwards which would increase it to 123M or 164M in issue.
Having more shares in issue should make it more tradeable, tighten the bid/offer spread and make it easier to carry out future buy-backs when appropriate.
LOTM
LOTM
Do you have any update on the bid situation?
Special Dividend of 77.8 pence per share going ex-date tomorrow so last day to buy in to qualify for the dividend and its paid as soon as 6th April. The start of the new tax year.
The dividend is going to cost them £35M (less the small number of shares they've so far bought back since that announcement, that they won't have to pay it on).
They are also going to start paying a dividend of £25M next year. Obviously the amount per share that work's out at will depend on how many more share's there able to buy-back before then, but the amount will be north of 55p per share.
LOTM
Started: dorsetknob1965, 10 Aug 2018 12:32
Last post: VisualThinker, 23 Mar 2021 14:50
That one fizzled out, maybe now nearly one year later and 20% cheaper we'll get a proper breakout, its very tightly held
Buying back shares is fine - it increases eps but does it also give Directors bonuses based on any increase in sp values?
Presume the rise today is delayed reaction to the recent share buy-back? Heading back to the 700's?
Started: Buyat20, 2 Jan 2018 23:35
Last post: Buyat20, 2 Jan 2018 23:35
I have bought back in - been about 4 years, but I think now is the time. They are buying back shares, signs of strength surely - and I reckon this will rise like it did before when they spent spare cash to push up the share price. Happy days (hopefully).
Started: mystic, 9 Mar 2017 10:01
Last post: mystic, 9 Mar 2017 10:01
Started: mystic, 12 Jan 2017 11:48
Last post: mystic, 12 Jan 2017 11:48
Up we go.... plus ipel pay dividends ..
Started: mystic, 24 Nov 2016 12:49
Last post: mystic, 24 Nov 2016 12:49
Interesting for sure
Started: mystic, 28 Jul 2016 16:52
Last post: mystic, 28 Jul 2016 16:52
Managed Services spend under management (£ millions)* £2,057.1 £952.2 116.0% Group Supply (£ millions)* £512.4 £379.6 35.0% Revenue (£ millions) £1,085.6 £831.6 30.5% Gross Profit (£ millions) £139.0 £108.8 27.8% Managed Services and Specialist Staffing operating profit (£ millions)* £31.4 £23.4 34.2% Profit conversion** 21.7% 20.0% 1.7 ppts Profit before tax** (£ millions) £25.7 £20.1 27.9% Tax rate 14.9% 19.3% (4.4) ppts Adjusted Basic EPS** (pence) 44.9p 33.0p 36.1% Interim dividend (pence) 7.0p 7.0p - Net debt (£ millions) £109.7 £39.4 178.4% DSO (days) 36.3 days 40.5 days (4.2 days)
Started: mystic, 5 May 2016 11:48
Last post: mystic, 5 May 2016 11:48
5 year high !!
Started: mystic, 9 Mar 2016 07:10
Last post: mystic, 9 Mar 2016 07:10
Started: mystic, 3 Mar 2016 09:45
Last post: mystic, 3 Mar 2016 09:45
Recovery by impellam
Started: mystic, 8 Dec 2015 13:45
Last post: mystic, 8 Dec 2015 13:45
Check out DODS !!
Last post: horace678, 30 Sep 2015 10:26
More share buy backs?
how many shares traded ????? 29-Sep-1516:20:12800.00180,000Buy* 780.00800.001.440MO 29-Sep-1516:20:04800.0080,000Buy* 780.00800.00640.00kO 29-Sep-1516:19:56800.00120,000Buy* 780.00800.00960.00kO 29-Sep-1516:19:42800.00300,000Buy* 780.00800.002.400M
Last post: horace678, 30 Jul 2015 09:59
Nice.