The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Good but some (any!) numbers would have been helpful....hopefully they will update again.
Yup.
I started to switch off here to daily movements.
If the company can maintain their performance metrics this stock is a monster. Comppunding at 50pct IRR is huge.
Market seems to want to see confirmation before going higher.
It seems strange they have been consistent for years, lost 3 to 4pct of cases. Are backed by high quality investors and management have never done anyting nuts. Hiding bad news, diluting needlessly, not updating investors.
The resolution of fund 1 investment RNS today is interesting. It risks getting lost in the large number of transaction in own shares RNSs that have been issued recently.
Thanks for this.
Interest accrues and most likely our multiple will increase over time.
Love appeals :)
Https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02758225-6A1188106
Ty
Https://stockhead.com.au/resources/indiana-scores-us110-million-payday-as-international-arbitrators-rule-in-its-favour-over-tanzania-nickel/
I found another one stating lcm get 15m usd.
I expect tanzania might resist paying and drag it out. Not worried as it was a unanimous decision, i cannot imagine an appeal where everyone changes theit mind :).
If we are lucky it will drag on and maybe our contractual multiple increases :)
Do you have a link ? I can’t find one.
This brings the total amount up to more than US$109.5m (US$68.33m net to Indiana) in damages and accrued interest, and interest will continue to accrue until Tanzania pays the monies. Indiana will be entitled to a minimum of 62% of this amount.
News on friday. Stock suspended today due to announcement.
Tomorrow a little bit of a D-Day for Tanzania in the arbitration claim we have funded against them. Do they pay up collateral or make us seize their assets?
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02755010-6A1186862
Looks like a slam dunk case.
How can they justify at end of your contract. You pay x and get nothing. Or swap onto contract and start to pay x while owning a new phone.
Regulator is going to call them out on this. Like normal they will cheat and pocket profits and then just settle when taken to court. Easy money for them and us
Looks like we are funding this matter?
https://www.linkedin.com/posts/justin-gutmann-86b75b13_loyalty-penalty-claim-activity-7138891302783418368-Ux8i/?utm_source=share&utm_medium=member_ios
Strange price action.
In last video results presentation ceo said;
4 100 pct owned investments had positive judgements
4 in funds had positive judgements
Around another 4 had final hearings.
Given our return our investmemts are designed to give 1 to 4 multiple of inveated capital and within funds can be double, not sure why people are seeing risk to earnings.
Positive judgements are subject to appeal but we have it in our favour and while we wait time ticks on and our multiple improves!
Also in the shares presentation he implied almost unlimited support from lcm from fund investors
"On 25 August 2023, the Company announced that IGPL had secured up to US$13.6 million in litigation financing ("Facility") with LCM Funding SG Pty Ltd ("LCM Funding" or the "Funder"). LCM Funding is a subsidiary of Litigation Capital Management Limited ("LCM"), a firm quoted on the AIM Market of the London Stock Exchange. LCM is a leading global disputes funder with significant expertise in international arbitration and cross-border disputes, including bilateral investment treaty claims over mineral resource assets. The non‐recourse Facility is to be used by IGPL in prosecuting its Treaty claims against India. If no award and/or recovery are achieved, then LCM Funding is not entitled to any repayment of the Facility. "
https://www.londonstockexchange.com/news-article/PAT/bhukia-update/16202022
I just checked with ig index on spreadbet
They gave 2.25!
No deduction
Basically they messed it up with comminication.
Sure they will address it going forward.
They do so much good stuff i am going to give them a pass on this.
At least thry respond. 70pct flof companies just ignore retail :)
Thanks Stuart. Received the same response today also. Standard corporate response really. No recognition that they are listed in the uk and therefore shareholder returns should really be geared up to suit uk based shareholders not Australian shareholders. Suspect we are fighting a losing battle and they will probably lose shareholders because of it particularly if they employ a progressive dividend policy.
Reply from the CFO, received this morning:
Dear Stuart,
Your query has been passed on to me. I am sorry if this has caused you any disappointment. We rely on the information provided by our registrars at Link as we have no visibility over the underlying Shareholders tax position. The Company remits the entire dividend payment to Link (our share registrar) who are then responsible for onward payment based on the information they have.
The following is intended to provide general information to investors with respect to the dividend paid on 27 October 2023, however investors should seek their own advice:
LCM is incorporated and registered in Australia.
Australian tax resident shareholders
Australian tax resident shareholders should not be subject to withholding tax where they have provided their Tax File Number (TFN). If no TFN is provided, TFN withholding tax at 47% would be withheld and the shareholder may be able to claim this tax as a credit in their tax return.
Foreign shareholders - tax resident of jurisdictions other than Australia
Where the company has sufficient franking credits, the dividend may be fully franked and not subject to withholding tax (WHT) for foreign shareholders. To the extent the dividend is unfranked, which this dividend was, WHT is applicable to foreign shareholders at a 30% rate. The rate of withholding tax may be reduced under an applicable tax treaty and a refund obtained from the Australian Taxation Office. Alternatively, foreign shareholders may also be able to claim the WHT as a credit in their local tax return. Please seek independent advice in this regard.
For information on the tax treaty between Australia and the United Kingdom, information can be obtained at the following link Australia: tax treaties - GOV.UK (www.gov.uk)
Link generally require evidence of residency for their files (i.e. certificate of residency) The following website provides guidance on how to apply for a certificate of residence How to apply for a certificate of residence to claim tax relief abroad - GOV.UK (www.gov.uk)
I hope this was helpful but please let me know if I can assist any further.
We take all investor feedback into consideration so thank you for your email.
Regards,
Mary
I spread bet so i pay no tax.
One thing if we have double taxation treaty you will probably not need to pay tax again as you already paid it
They might also wait for volume.
Might not be worth a broker scooping up 10k a day for fraction of 1pct
Sorry for not feeding back earlier.
I already chatted to cfo. I expressed our displeasure and she said she will bring this to attention of board.
Lit are good like that. I have fed back on maybe 7 occassions now and they are responsive ( one of the few)
I have just contacted them. I will report any significant reply. If they are asked enough, the hassle may cause a rethink.
If you are UK based and planning on holding these for the long term, I strongly advise you contact LCM to give feedback on the dividend. If no noise if made, then it will likely continue as it which is no good to anyone but the directors.
I have just contacted them to say I think it was a poor allocation of capital, given it is a UK listed company and paying out to largely UK based shareholders. To lose 30% at source to the Australian tax man (and potentially again to the UK tax man) means we effectively lose a proportion of our shareholding each year. If LCM apply a progressive dividend policy, this capital erosion will be much greater when compounded over time. Much more aggressive share buy-backs, debt reduction, or further case investment would all appear to be much better use of capital than the current poorly considered approach, unless they can find a work-around on the dividend.
So share buy back of Aud 10m = approx £5.27m - buying back shares for approx 10 months they should be buying back on average £527k per month. In October they did £80k.......