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I was hoping for another return of capital this month based on the frequency of the last few payments. Anybody heard or read anything about the next payment? I can cope with watching the SP creep down when I'm getting payments every month, but without them it makes me nervous!
Did anyone else read the detail of the 'Bonus pool' announcement of 22/11? And more specifically the one of bonus payments not mentioned in the title but tucked at the bottom of the announcement?
Am i the only one thinking both the bonus pool and the one off bonus payments are disproportionate and extortionate?
Was it the same for everyone else? This last pay out wasn't classed by my broker as a dividend, but as a corporate action. Also I notice that it didn't register as a payment on dividenddata.co.uk. In both cases the July payment WAS classed as a dividend?
Got it on HL as well now
Just got it on HL!
Yes, yesterday on IG
not yet...on HL
Has anyone received the latest dividend from 13th September?
Have asked the company. They said they’d get back to me. Still waiting!
I see I was wrong about the share redemption. Technically it is a redemption, but our shareholding does not reduce. It does however mean that it will be taxed as capital gains, not dividend.
What have you heard ericeric?
Totally agree Krayl49. I topped up again yesterday on a 60% discount to published NAV. Happy days.
What we have been receiving so far has been described as a 'return of capital' which looks like a dividend, but may be taxed differently (mine are in an ISA so it doesn't affect me). The last one was 3p per share. We have NOT had share redemptions, where part of the shares are cashed in and your number reduces.
Currently we are sitting well below the NAV, so these are in fact a very good buy.
Wasn't that simple a question if the difficulty in getting an answer was anything to go by!
So we'll keep continuing to get dividends until the final wind down date, at which point the shares will either be worth zero, or they'll keep consolidating them until we don't actually have any left? Sorry for the simple questions, but I really appreciate you coming back on the subject!
As promised jharrower. Didn't get much back from KKV as apparently they're not allowed to communicate directly with individual non-professional investors, re the FCA! However I got some salient information from my broker (Halifax). I've copied and pasted the web chat below. (So keep an eye on what happens to your shares on Thursday when the 3p is paid).
Good afternoon, how can i help today?
Ellen - 3:14 PM
Hi Ellen. It has recently come to my attention that KKV Secured Loan Fund (KKVL) is going through a managed wind-down. On emailing the company, I was informed that they were not allowed to speak to individual, non-professional investors (as determined by the FCA). They have redirected me back to yourselves. My question was, how does this affect myself as an individual investor? Will the share price just dwindle to nothing as the assets are sold off and returned as dividends? Will the shares just become valueless overnight? Or will there be no effect on ordinary shareholders at all? My last question comes about as I am still able to purchase KKVL in my ISA, so am a little confused that you still allow this if the company is basically closing down?
Greg Adamson - 3:15 PM
I will speak to the corporate actions team about this.
Ellen - 3:16 PM
Thank you.
Greg Adamson - 3:17 PM
I am asking about this now, do you hold some of these already or is this because you are thinking about buying into it?
Ellen - 3:18 PM
Currently hold 35,000 shares in my ISA.
Greg Adamson - 3:19 PM
Ah ok, i will be a few more moments while i speak to the team.
Ellen - 3:19 PM
ok
Greg Adamson - 3:19 PM
Ok the team have said that they will be going through a series of redemptions. So over time they would be removed as you receive payments for them. I am asking about the trading situation now.
OK the team have said they can't see anywhere if there is a date for stopping trading, on the details.
Ellen - 3:26 PM
OK. Your penultimate message says "over time they would be removed....". By "they" do you mean my number of shares showing would reduce until they become zero?
Greg Adamson - 3:29 PM
Yes, i do so the shares would be removed from your account once you have received the money. From what my colleagues said it would going to be a series of partial redemptions. Now that could mean a few customers at a time or all holders have a number of their shares removed and a payment. Multiple times.
3:30 PM
Ellen - 3:30 PM
OK, thank you very much for your help today Ellen :)
Greg Adamson - 3:31 PM
Happy to help, have a good day.
Ellen - Now
@urbanguru fantastic, thank you.
jharrower
I have emailed the company directly and asked for an answer to this in simple "how will it affect me as an ordinary shareholder" terms. I will let you know.... if they respond?
With the managed wind-down, what does that mean for investors? Will the shares suddenly dissolve at the end, are they paid back at a certain share price? What's the process?
Hi JH, I too am new at all this but I found this which might help. https://www.informdirect.co.uk/shares/share-redemptions-explained/
This is a strange share and appears to be a no-brainer to make a small profit. The NAV is about 29p, the SP is 16/18p, with a policy of selling off to realise the value. So far we have had two dividends of around 5p, with no significant change to the SP.
I am awaiting the next dividend anouncement , which will cause a lift in the SP - and will probably sell at that point then look to buy in again.
Opppps my previous message didn't load,my bad.
Load up?
I think......?
Hi all, sorry for the rookie question. I only bought into these a few months ago and the dividend at 5.5p is a high percentage, but what does "B shares redeemed and cancelled" mean? Am I going to get the dividend and then my shares disappear? Again apologies for the dummy level question!