Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
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The spread they have on this is just ridiculous.
"The Capital Repayment is expected to be completed later in Q2 2024, with further announcements, including the Record Date, to be made in due course by the Company."
Once again we are close to the end of the time that we were told a payment was going to be made by and we havent even had a date this payment is going to be made. Same as last year with teh divi that never happened. This is very dodgy I dont know how they are getting away with this.
i'm starting to strongly suspect that this is intentional - they are trying to **** retail investors off so that the large sahreholders can mop up cheap shares. how long they can get away with it seems to be infinite becuase there seems to be very littel regulation on this in our stockmarket.
I mean the price movements are pretty meaningless at them moment because there is very little volume its just Market makers with a finger in the air but they really do need to give us a date for this payout - This kind of behaviour is not right and should be regulated. Someone shouls be able to tell these guys "come on enough is enough you have said you are going to pay a divi for over a year now and you still havent.
It’s tough to decide
Is this a falling knife
Or
Is it a bargain?
We will know by the 4th quarter after spring and summer trading
i tell you one thing for sure if they don’t announce a date soon and even worse if they don’t do it this quarter this share is going to completely tank. they have taken the **** for long enough now.
What we need is some communication with an actual date not just a “yeah yeah we will pay you something it’s going to be nice you will get payment don’t worry brother we will pay I can’t say when but you will get your money don’t worry be happy bro”
Personally i think we will get a divi for this year as well even though trading figures dont support it
When I bought these shares, I was aware of the risk associated with the wide spread, but it never occurred to me that the only way to sell would be to accept a pending buy offer. Currently, I have placed a sell order at 19 p, but it is not visible at all. This significantly hinders trading and increases potential losses, also significantly reducing liquidity.
Actually nothing has changed since a year ago. They say they will pay us something and they don’t give a date and we hold and wait. Still we don’t know when they will get at it just a vague “we intend to pay it in this quarter” or equally vague. It’s starting to feel like we are being played.
It’s been an unbelievably frustrating hold not helped by a management than are either incompetent or are to busy pandering to the largest shareholder. The 1.5p payout is unbelievable mean when they are suppose to of sidelined a much larger amount to be payed out to shareholders. You’d of thought being listed on the London exchange they would have more accountability to shareholders but obviously not.
Yes it sure would. I have been uncharacteristically patient with this share but it’s not endless and is beginning to run out. I’m 26% down on this one.
So today is the meeting to structure the 1.5p pay out. So we should get some news flow that it is done and hopefully payment dates. It's a 7.5% return based on the current price and I'd imagine that Javier del Ser Pérez and family will plough that straight back in. Hopefully the cement business is picking up as planned. It would be nice to get a rise on this share from the lows.
I'd agree that under 20p was not expected but the trading update was hardly inspiring. Good news some cash is coming our way and let's hope this is followed by the market picking up combined with the summer price/demand rise they are expecting. I take some comfort that insiders continue to up their stake, its just a lost opportunity cost having my cash tied up as we bottom, rather than making major gains, which is happening elsewhere.
The family of the Company's Chief Executive Officer, Javier del Ser Pérez, has purchased 75,000 ordinary shares of nil par value each in the capital of the Company ("Ordinary Shares"), at a price of 17.96 pence per share, via Portola Group Limited.
Accordingly, the family of Javier del Ser Pérez is now interested in 19,078,115 Ordinary Shares, representing approximately 8.71% of the Company's existing issued share capital.
I got this wrong, I never expected the market cap to fall to this level especially as it’s still a sound business in a relatively stable country
Freedom4Uall i recon is lawyers jargon to soap eyes of taxmans but im not a specialist of cos :)
Will add some more on a dip. When inflation will go down thisone will rocket to 40ties. Probably this year.
On the surface the payment RNS doesn't appear negative, it appears they found a way around the dividend payment issues, but i lack understanding of the specific payment method, can anyone explain in basic what is a capital repayment by way of capital reduction, what are the pros and cons of it? i understand dividend and share buy back but have not seen this before.
RNS Announcement on Capital Repayment dates
On or around Thursday, 23 May 2024
Bought a few on the Dip... have had my eyes on it for a while...
..........."Dividends are tax-efficient means to draw a salary. Given the size of the shareholding from the board, I would not discount the fact that they missed the deadline for special dividends.
In my books it merits a bit of patience up to July."..........
Why all this faff re taxation of dividends? In many jurisdictions, payouts from capital reductions are treated like dividends.
Why would a company even care about the potential tax status of its shareholders?
Is all this trustworthy?
Agreed. Not the greatest of RNSs but seems a huge over-reaction to me.
WTF?
Price is odd today seems a big tree shake?
Consistent sales for over the past 10 days