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Beijing’s plan seeks to accelerate expansion of light industry
This includes paper, plastic and cars which is massively positive for KMR
Shep I think they will do 50+50
But obviously I prefer buy back to save paying tax
To give a example if a Irish company had 100million share at 5euros each and I owned 0:001%of the company I would have 100000 shares if they paid me 10% dividend yield I would get 50000euros dividend less 25%tax which would be 12500euros and I would still own 0:001%of the company
But the buy back option of 10% means the company would no longer be in 100million share it would be 90million and if I sold 10% of my holding 10000shares at 5euro I would make 50000euro and pay tax and still own0:001% of the company I don't even have to pay capital gains tax unless the share price as increased from the time I bought and in the first £6000 in the UK is tax free which most shareholders will pay no tax at all
Personaly I would have saved £6000 tax over the last year if they did buy back instead of dividends
So that's why I prefer buyback I'm not sure why others prefer dividends maybe ???
Was their any concensus this could replace the dividend (and the complexities faced by us all regarding the much maligned withholding tax) or was the assumption both would still be happening. Seem to remember someone posted their preference for this in the past. Clarity may only come with next update, let's see.
Mine arrived 7th june, with Barclays, and I thought that was late. Good luck with yours, fancy naming and shaming the culprit ?
Still not received May dividend...usually paid straight into bank account....anyone else still waiting ?
In my view, this isn’t a bad report given the lightning strike and associated issues which have to be declared.
Stock is down, so we are not holding excess stock that is losing value and the company has shown resilience in face of issues.
The market is softening a little but contracts will be in the companies favour. H2 production in a good place with replacement parts issue sorted, electricity in a better place, RUPS and automation to be upgrades to operations in H2.
Cash up, debt down and capex on track. Despite the negative tone there are several underlying positives and we could well deliver record profitability with a positive H2
I'll bet the report is written by a committee not an individual.
Yes, kmr always seem to put a dampener on whatever update they are reporting some caveat as to why the future looks gloomy, we've had all the excuses, prices weak, possible recession, barge in for planned maintenance therefore hitting revenues in quarter, waste of cash when we had the tender offer but also debt, the rps project cost a bob or two but we haven't seen much from it up to now. I will let them off with lightening strike, slimes problems as though it was something unexpected, thus hitting production.
The list is endless for a mine with 100 years of life going forward it's as I have stated before it's almost as though they do it by design, to detract from what superb asset this is.
Experience here has taught me to trade this which is against my usual nature, great asset but there's always something .
A while back I mentioned selling out on a high and wait for the next wcp move to be completed which is what I have done with half my holding I was tempted to buy it back since it's been drifting lower perhaps it's heading a little lower now.
Kenmare reports are normally bearish rather than bullish so that what I expect from them and read allowing for that so for a bearish report I see the positive
If the company made 10times profit than it as I'm sure they would find negative things to write about so have to agree with you it's his style in the early days I believe he was criticized for writing bullish reports then the company nearly went under so his he playing it safe
Kenmare never has a 100% positive update, or even 90% positive. My prediction of the share price retreating to 350p will likely happen more quickly than I originally anticipated. Most of the spare cash will be needed for the upcoming capex. How much is Kenmare paying for its borrowing? Surely it would be much more advantageous to shareholders to pay off debt rather than do a share buyback. It's always smoke and mirrors with Kenmare.
Positives were reserved cash increase from 25mil to 42million and shipping equals sales up 30%
So result we be come results come August profit will be up more than 20% compared to last year
That's why they talking about share buybacks because they have made the money
Well, you mentioned the two significant positives.
People selling today are not forward-looking but reactive, IMO.
Edit: 30mil$ buy back
Not as positive as some thought and has been reflected in the fall in SP this morning. I am quite disapointed (nothing new there with KMR). Anyone got a positive? I read this morning they expect a good improvement over the next six months and talking about a 30% buy back.
Looks like plenty of people buying small lots at lower price. I’ve picked up a few more in the last week so hoping for a very positive H1 trading update.
H1 trading update usually out in early July
What trading Ipdate?
Agreed, if last couple of years are anything to go by the update is due 14th of next month.
I've been steadily accumulating the dips so £5 would be good and not out of the question, although at times my patience is tried.
Hopefully the recent buying is a positive sign that the market expects a strong H1 trading update. I would love to see the SP hold above £5 going into H2. Time will tell.
All tax is theft, unless you give permission for the taxing authority to "help themselves".
While it is possible to reclaim the tax, why does the Irish government have to take it in the first place? Why can't investors declare their location of residency and be exempt from the deduction? In the country where I am, I would have to visit multiple departments and make payments at each to get the required information. I don't have the time and energy for this, and it is not a clear process anyway, hence the Irish government has many thousands of pounds that should be mine. We pay taxes when we buy the shares, we pay tax to the Mozambique government on the profits, and then to the Irish government on the dividends. They all have their snouts in the trough when there is anything to take, but no compensation was given for the massive losses at the time of the restructuring. This is why it FEELS like theft.
There is a Double Taxation agreement between UK and Eire limiting WT to 15%. The company is required to deduct 25% and the taxpayer then has to reclaim the balance of 10% from the Eire tax authority.
It's not theft it Irish tax laws made on a Irish company so under Irish tax laws the way round the company should have done a 10% buy back direct to the share holders which would a ovoid tax in Ireland but could be subject to capital gains tax in some countries the directors should now this but need to explain to the shareholders the benefits
I agree, 25% Irish witholding tax is too much and it is another reason for not holding Kenmare stock. I have paid many thousands to date. I do not live or work in Ireland or the EU and I looked into what would be needed to reclaim this money. The time, effort and cost would be quite ridiculous. If you're not in Ireland, the Irish government know this and should not tax the dividends. And what about the shares held in an ISA still not being exempt? As far as I am concerned it is theft.
Foreign Withholding Tax Paid
After many years of investing in KMR I have noticed for the first time that 25% was/is deducted off my dividend.
apart my stupidity not to have paid attention to it for so many years, 25% seems a lot - and for what reason? I guess none of investors here are happy about it, so how have you been dealing with this? Is it in some way recoverable?