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I just wanted to say that i really appreciate your posts.
You always share info that is good and helps me.
So thankyou
The net is closing in on another pay day:
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02735691-6A1178828?access_token=83ff96335c2d45a094df02a206a39ff4
Yup.
But they are done at broker discression.
There is a wierd mismatch here.
Shareholders benefit ultimately if they buy it cheap. So broker lets it drift, not pushing up price.
On flip side shareholders want price to go up.
So there is a conflict
Anyone else expecting more than just the 2 share buy backs in October?
Certainly pretty poor to lose 30% of the dividend when this is listed in the uk. They need to scrap the dividend and stick to share buy backs as this is not looking after the shareholders at all. They either don’t care or it’s been poorly thought out.
I've had a reply from HL saying there is nothing they can do and that i need to talk to the foreign tax office ( i presume Australian tax office )...
I've just emailed IR today at LCM to see what they have to say about it. I hold a good chunk in ISAs and SIPPs so this is not fun.
Hi - have you heard anything back? My impression is that only the unfranked part should have withholding tax, the franked part should not have any withholding tax.
I wrote to cfo.
The impression in presentation was we are paying in full. I dont really care what you put in a footnote
If you present the div is x from uk company we expect x. It is wrong for the company to think investors have to dig deeper to get full picture. A presentation summarises the important facts for investors so this has beem summarises incorrectly
Found this on another board after not finding any mention of franking in their communications:
in LIT's final results (section 18. Equity - dividends) it says: "On 18 July 2023, the Directors declared a partially franked final dividend for the year ended 30 June 2023 of 2.25 pence per ordinary share, to be paid on 27 October 2023 ..."
The company really should have been clearer about this, as most mentions ive seen in RNS's and else where just say plain dividend, no mention of the franking malarky which means non Aussie holders like us end up with 30% less that as far as I'm aware cant be claimed back, they should have given the UK holders a clear idea of the amount we would recieve after this franking deduction, you'd expect better from a legal business to be crystal clear on details such as this, very disappointing, I like the prospects of the company but this is making me reconsider the size of my position in them for sure.
Haven't received mine yet. .Still showing as waiting to be paid.
Just noticed that myself, I havent investigated yet but as it's 30% less I'm guessing its because they are an Aussie company paying a fully franked dividend, which I belive means they take 30% out for some dumb Aussie tax reason and Aussie shareholders can claim it back against their tax bills, we however cant claim it so we lose it, stupid system and as the company has a London listing it should pay its foreign holders the full amount IMO, but apparently not, unless its a mistake by the broker somehow, I'm with Interactive Investor. Anyone actually get the full amount?
Anyone smarter than me know why we haven't received 100% of the dividend today? Is it some sort of witholding tax or is it coming in more than 1 lump?
Agreed.
But it is enough to mop up some of the silly stuff
The share buyback programme is around 3% of the market cap so won't set the world alight but should underpin the price once it starts.
How can we track?.
Thx for good posts.
The share buy back still needs some paperwork completing before it can start. Hopefully that will mop up the 10pcters
They are involved with Panthera 13.6m$ . Big court case tomorrow
Ibwonder when the company will activate the buy back. Should be significant given market cap.
Thx.
What i was trying to correct is people posting we are going to get huge windfalls.
Our contracts are not like that irrespective of case.
LIT are NOT funding Ascent Resources. They are self funded by Enyo
They are normally on multiples. Do not get sucked into thinking they get 30pct of huge awards. At best multiple plus performance fee
The only confirmed case is a class action. Queensland power.
655 million euros. Slovakia i think. Is LITs take always around 30% ?
What is the ASTs payout? What country? Thanks for sharing more.
Anyone heard any rumours. I will double my LIT holding if they are. Could be an absolute massive win for LIT.