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Seems that it has recovered some of it's recent downward motion but feel stupid now topping up at 4:00 instead of waiting ✋️
Yes tend to agree, anyway Bulk Carrier IMO 9278167 and Bronagh J coincided for around 6 hours today in the port today so with luck that was another 5000t loaded up. Am I correct in thinking this is the only process of loading up, I believed so but were you thinking otherwise.
The BOD have history of announcing all potentially negative news ahead of positive updates. I’m holding for the Q4 update as I expect the shipped volumes to be extremely strong in Q4
Tep
SGRF stated when they invested years ago they would for a capital return on their investment at an appropriate time.
Unfortunately I thought the SP was going up but I am still a big believer that this company will attract a buyer in the next cycle.
In my opinion it is materially undervalued and would still be attractive to a large corporate at 4-5x today’s share price.
Market will not give value under the current ownership or management.
It is cheaper to buy this type of business than build it.
The last few years have confirmed it is a stable business. Perhaps after the next investment and move to pilivili the company will get acquired.
I saw that candid and dont disagree with your point on the buybacks. its only intention was to allow II's to sell at a reasonable price it seems in hindsight.
Candidinvester
More luck than judgement my friend! I have been adding over the years but still only have just over 7k shares so a small holding. That said you are right and I have done very well out of them but was hoping to do better this/next year ( I was hoping to retire at the end of next year) but have to wait another twelve months or so for that. I may sell half and go from there. I'm strictly an armature at this and have other holding that I hope will soon turn around my fortunes, even if one is Royal Mail!!!
Boy
Yep 1..I suggest you read my earlier post on this about share buy backs
The boy...if you have held Kenmare shares for 5 years then you must have doubled your capital investment, this excludes dividends during those 5 years. Well done you for that shrewed investment. If I was you , I would take your winnings off the table and put your money elsewhere, not the UK ..very few genuine growth companies around ...certainly no TESSLAs Meta, and Google and emerging growth companies.. FTSE 350 companies are now over populated with self serving investment trusts , NONE to my knowledge ( no doubt there must be a few ) who invest some of their funds into other uk investment trusts...two way commission cycle .no wonder none of them have made any money..go abroad...USA has Google and Meta..we have cuzzons soap and BT., and Aston Martin Lagonda, plus of course the aforementioned investment trusts such as Jupiter and Molten Ventures ..who the hell are they ? private equity company ..lost 75% over 2 years and never been any dividend..they do though charge a 1.85% management fee .
I have to agree, the timing and tone of this mornings announcement is terrible.
It’s actually a non-event and should have been managed much better.
The FTSE 100 jumped more than 2% while mid-caps soared over 3% as the US Federal Reserve flagged its first rate cut and investors anticipated the Bank of England will keep its finger on the pause button later today.
So a rally across all sectors on the back of the Feds comments regarding possible rate cuts with an election on the horizon is it such a shock?
Even with this news we still can't rise with a high tide.
Someone remind me how as a shareholder I have benefited from their ingenious buyback strategy?
2yr 3yr and 5 yr rates are down already. It is a good time to refinance.
The move is not new news.
Prices down but growth returning, inflation dissipating and light appearing.
Everyone is running scared so now is the time to be greedy.
I've been into KMR for over five years now and I am starting to lose faith if I am honest. I was hoping (along with others I would imagine) that next year would see substantial share price move upward. Even the long term outlook is starting to look a bit ropey (from my prospective).
Yep...I have my Sipp with AJ Bell, and their reaction to claiming back tax on dividends is identical to HL
Huge disadvantage. If I had realised this before i invested I would not have invested . I lost £950 this morning which is increasing
This news was passed on to other shareholders , since there has been a steady fall in the share price for the past week
. Deceit and stupidity by Kenmare board is both staggering and disappointing ..it was only at interim they INCREASED dividend with positive outlook
Now they drop a dividend bombshell , which should make them hang their heads in shame !
Refinancing interest rate rises not their fault , but the stupidity of share buy backs for a company in growth mode, is incompetence beyond belief
As an ex Finance Director let me state. SHARE BUY BACKS ARE NEVER IN BEST INTEREST OF SHAREHOLDERS OF GROWING COMPANIES..
THEY SHOULD ONLY BE USED I REPEAT ONLY BE USED FOR COMPANIES WINDING DOWN OPERATIONS.
IF THEY WERE IN THE BEST INTERESTS OF SHAREHOLDER'S THEN DIVIDENDS WOULD RISE NOT FALL
If they are flagging that dividends will fall , then read between the lines of a company with their recent track record and what they are saying is that they will disappear ! That bad news won't be released until next year
Company Directors have lost all credibility and the company is now uninvestible.
SELL , and cut your losses
The market reaction to today's rns is telling, although we all know about about the upcoming move the tone is negative, next year prices are not looking as strong, oh and we have to refinance, just when interest rates are at there peak the fruits of all that wasted cash on buybacks coming home to roost, the share price performance is a reflection of managements performance and not of the sector in which they operate imo.
Thank you for contacting Hargreaves Lansdown.
Unfortunately there is no European wide facility available to HL to reduce the withholding tax burden to clients holding shares in Europe.
Each European country has a different and sometimes complex tax regime/rebate procedures. For this reason we do not offer a service to claim foreign withholding tax (apart from US and Canadian) but do provide supporting documentation for clients who wish to pursue a claim for withholding tax for shares held in non SIPP products.
At present the Irish withholding tax is 25% and can be claimed from the Irish Revenue for dividends paid into HL ISAs/Fund & Share accounts, but this must be done by the beneficial owner of the shares. We will provide our client’s letters supporting their claim and a tax voucher of our pooled nominee holding. I believe you will be able to download the form from the Irish Revenue website (link below):
https://www.revenue.ie/en/companies-and-charities/documents/dwt/iref-withholding-tax-claim-form.pdf
In our experience the Irish Revenue will require a copy of the original tax voucher which can take several months to obtain from the registrar as a fee needs to be sent by Hargreaves Lansdown (this will be covered by us) to cover the administration costs.
With reference to SIPP products, Hargreaves Lansdown acts as the trustee and is viewed as the legal owner of the shares with the client as the beneficial owner.
This therefore means that claims for foreign withholding tax within a SIPP, must be completed by Hargreaves Lansdown.
Hargreaves Lansdown did make an attempt to obtain reduced rates of tax at source for our Irish stock holders. Our application was rejected by the registrars as we were not considered to be a ‘relevant person’ i.e. a resident in Ireland or a qualifying intermediary (QI) or authorised withholding agent (AWA).
At this point in time, we do not offer a complete foreign withholding tax reclaim service at present. This is in accordance with our Terms and Conditions for your account (covered by section A9).
However, the position is under regular review.
Should you have any other queries please do not hesitate to contact me.
Yours sincerely
Dividends Department
Thank you for your email dated 23.05.23. Please accept my apologies for the late reply.
As previously mentioned in reply to you we did attempt to obtain treaty rates for our clients holding Irish stocks within the SIPP, but the registrars rejected our application on the grounds that we were not a Qualified Intermediary.
Unfortunately, at this present time we cannot help clients obtain treaty rates for their Irish holdings within the SIPP, however this is under constant review.
We appreciate your feedback but if I can help you with any other query, please do not hesitate to contact me.
Yours sincerely
Dividends Department
I have kmr in my SIPP and the response from HL has been very negative. Since they cannot obtain exemption or cannot be ar*ed most likely. There are forms to file with Irish tax authority and HL confirmed they need to take responsibility for that. Again their response has been negative and in short, reading between the lines, they cannot be ar*ed as this would need to be filed yearly. Interested to understand who your provider is and how you have managed a rebate.
IWTis recoverable for UK investors.
I can’t get detail from my SIPP provider but can for my ISA.
Its great as zero tax to pay.
So buried in the news this morning: "Total dividends in respect of 2023 are expected to be approximately $50 million. In subsequent years revenues and dividends will be partially subject to commodity prices and may be lower than 2023, although the Company would expect to use the full range of its 20-40% Profit After Tax dividend policy."
So approximately 38c to be paid out next year for 2023 dividend. 56c in total for 2023 which is subject to irish with-holding tax leaves your with a rate 0.42 and a yield of 8% at todays share price.
Thanks Jay Powell - Global growth is back
Should be a fun ride into New year and very positive results
I can see delivery vessels / Tugs at each ship. It is very busy
The Bronagh J has also visitted the port twice over the last 24 hours presumably depositting its load on the African Griffon. So that looks positive.
Not seen any sign of the other trans shipment vessel though !
Funds work to calendar year
But most of the world tax year finish 31 dec