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Funnily I was going to say that I’m sure you can see £5 in the not too distant future.
I think the BOD need to drive home the message that they will continue to produce and pay dividends throughout the next move.
It has been drown out a little from the desliming capex, tender offer etc but continued production, and cash generation throughout the next capex phase has to be the key message.
Thanks
After all the struggles good to see KMR performing well and paying dividends which will continue for a long time now
SP below £5 is bewildering?
But happy to be in at this price and will add when my BSE dividend comes in at end of month
Great to have you back Greeno
You probably bought back in at the same level 😂
Plenty happening but not much change, although feels like the business is in a very positive place.
Bought in today after a few years away at the same price
BSE dividends will drop now so KMR will replace some of that twice a year
Someone buying at 433 today, maybe directors loading up again lol.
1. The stock is illiquid as Rich says.
2. It is still a very negative signal (even if it is optics)
3. It might be an attractive signal for an acquisitive and cash rich major.
4. It would be very interesting if an acquisitive major tabled an offer, it would be cheaper to buy KMR than build a new mine, which is interesting in the current world.
Time will tell. Very disappointing few weeks. Roll on Q3 trading update which will give an indication of Q4 pricing.
Why would so many shareholders sell at £4.22 if that’s the price they can get on the open market ? Surely you would want to sell at a premium to the market price ?
Am I missing something ?
The truth is they not going to sell 20% at 422 The large investors have sold down to profit take they can't sell on the open market has they would flood bringing the sp right down and lossing the profit
Think it would take over 700 a share to even get on the field as now there only going to be 89.3million shares left on the market
Although the investors can offer all there shares to the offer they know only 5.9%of them are a guarantee but they can pick up extra share of the shareholders portion who didn't take up the offer that's why they offer to sell more to get there extra portion
This will be there only opportunity to do this for the next 3 years as the board has said they will need extra money foythe mine move whilst keeping dividends over 10%yield
If > 20% of the shareholders are willing to sell at £4.22 what price would it take to buy 30% or 100%
This could prove very interesting. I’m pretty sure this was not what the BOD intended from the communication but the unintended consequences could be meaningful.
Good luck all.
Buyback results
22 million shares where offers by share holders to sell at 422
16 million more shares than offer of 5.5 million
So maybe the board paid to much for the share maybe should have offered 380
But most on here thought they should paid more but the market says different
Don't panic the company is in good shape and should be paying dividends yield off 10% over the next few years so is a good investment but I wouldn't expect the share price to increase much
until the mine move before seeing 6pounds ashare
Yes but did enough share holders positively elect to sell at £4.22 that is what we find out in a few hours.
Good luck to all.
Let's hope so, the resolution has been passed unanimously.
Resources plc (LSE:KMR, ISE:KMR) announces that, at its EGM held on Friday, 8 September 2023, the resolution proposed was duly passed on a poll.
Likely to be compulsory rebalancing of portfolios etc.
Hoping a decent uplift post the results of the tender offer.
Con
Well there's no stranger than folks.....
Shares being sold on the open market for 420 today
I am not selling a single share at £4.22
Interested to know if anyone else is considering it.
Tax driver for II’s but I can see this Tender Offer failing, maybe hopeful thinking, but, what about a second round at c. £4.50 (average of last 12 months) and the Company buy the rest in the market.
A bit of a strange one
Strange at best!
Not a quote but; I watched the webinar again and he seemed to suggest if the $30m buy back wasted fully subscribed that the Company may buy share in the market to fill the $30m.
That could have a material impact on the share price and I would love to see it.
I fully appreciate that it may make sense to sell shares in a buy back to avail of CGT but not a a material discount to the actual value in the company.
Appreciate any other views on this but I won’t be selling anything at £4.22 I wouldn’t sell at £4.72 or £5.22, although I would think about it at £5.22.
Selling at £4.22 and missing out on $0.175 feels like bad business given the current strategy, market position and potential upside.
Thoughts welcome?
Ex-Dividend Date 21 September 2023
Record Date 22 September 2023
======================
I have always known that I would be entitled to dividend if I sell on the ex-div date.... But Kenmare says you have to hold shares until close of the Record Date.... HL says ::: " To qualify for the most recently declared dividend, you must have bought the stock before the ex-dividend date and still have held it at market open on the ex-dividend date."... Which does not include/imply the Record date. ... So why this difference?... What's you view on this?
Rich22
The interim dividend as been set already at 17.5 cents a share this will not be affected by the buyback
But those shares which the company buy back are x divided so the company retain that part of the dividend in its targeted 50million dividend pool
So those shareholders who are still with us in April we benefit from this
The amount the company saves is 5500000x17.5c
Providing all shares are successfully brought back by the company
I'm expecting the buyback will be successful but they're not going to have mine at that price would take my chances on the open market
But it good we clear up the shares of those who will sell at that price as this as been holding the share price back for years
The 50milliion USD dividend target for The year is what the company had in its report
It's what the board is aiming for including this September payment and next April dividend
It's all in the the report those shares that are sold in the buyback do not receive any dividend
On YouTube there is a video of the report
Search Kenmare resources it's worth seeing
So the 50million is a target dividend payout the board expecting but can come in higher or lower of course
But the div was announced as pence per share, not a pool
My understand in zero dividend for those that sell. Therefore those that hold will get 100% of dividend paid to 94.1% of the current shareholders.
Assuming the £4.22 is fully subscribed, which I think it will but happy if it fails and has to be raised to get pushed through. It would be a very strong signal to the market.
Where does it say that the interim dividend will change as a result of the buyback?
When something is sold the sellers want the highest price
When something is brought the buyer wants to buy at the lowest price
So board would need to sell at the lowest price but
Still need to buy able to buy back the 5.5milluonshares at 422pence if they don't succeed then they have the price wrong and mis judge the market
But 20months ago they've brought over 14million shares at only 418pence and the sellers where offering another 3=5million to be sold so this meant they overpaid the price
If the buyback is successful then the 50million target dividend pot will be dividend by 89.5million shares rather than 95million increase our dividend payout by around 6%