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Still to be announced Smithy
If they are to pay a 50p divi etc, when would the ex divi date be? Or is that yet to be announced?
dazzag
Maybe a holdings RNS will clarify whether or not it was a sell.
MM’s filling a huge 26m sell all day
Had hoped for more of a rise here Today ,got distracted watching syme with the buying there again Today ,hoping for a better day Tomorrow here at tsco ,and still a blue finish Today,
News like today and Sainsbury’s up 3%, couldn’t write the script
DT
Absolutely agree if the scenario you paint plays out. I know the BoD want a higher so and that is why I think the consolidation will be substantial in the range 3:1
Rosewall
Absolutely. My understanding is that the pension deficit will be well below £1b with the pension finance costs falling and hopefully a continued rise in assets. Hopefully all the employees in the scheme are made aware of this if only to reassure them of their future. Can only be good for morale.
Maybe a strong case for an increase in dividends payments going forward but anything above 4% in these uncertain times is good for investors.
Rosewall
I agree in principle and I have saye from the previous year that matures on March 1st at £1.68 so any increase in the SP is welcome but I think what you will see is a drop in the SP when the special dividend is paid and then a return to a similar SP once the consolidation has occurred - therefore meaning your saye holding and value remains the same as it was pre consolidation.
Leas
Agreed. An easy way to grow that position. The reduction in the pension burden is welcome too
But agreed, we wouldn't get the special dividend
Rosewall
Tbh not a problem the share consolidation as I am building a position here over the next few months. Bought my first tranche last week. Happy for the sp at these levels and even happier to use any SD payment for that purpose.
DT
Quite the opposite. It is a brilliant deal. We get to save £x per month and, at the end of the three years can either take the cash back or buy shares at £1.98 irrespective of what the then current price is, we can't lose. If consolidate puts the share price closer to £5 then we still pay £1.98. A nice bonus
Lead
It won't be adjusted. The original circular said £5 billion for shareholders AND the consolidation. Consolidation is not an afterthought, it has always been there
Expect or hope the dividend gets adjusted accordingly to represent the consolidation.
@LG4444 I suspect what will happen is that the shares you hold in the saye will not be consolidated as they don't qualify for the dividend and therefore will still represent the same value post the consolidation.
Apologies exact time it was executed before bein reported to the market ....
Hard to determine whether or not it was a buy or sell due to the spread being so tight and not knowing the exact time it was reported to the market. Too many trades going through with all these A trades.
If the option prices on the ongoing saye's cannot be adjusted to reflect the reduced share price created by the share consolidation then some of the ongoing saye's will represent a poor investment. I would guess many would bail out and maybe use the savings returned to them to purchase shares that would likely be cheaper than the original option price. It will be interesting to see if there is a contingency plan for these plans.
22million at 1212 was showing as unknown now showing as sell.
The share dividend, the share consolidation and shareholder approval was stated very clearly in the original circular and I have raised the issue here several times so that newbies were aware of this. Some posters were fixated on the special dividend and overlooked the accompanying consolidation.
I have raised this several times since October and kept very quiet before hand. I have checked the rules and the offer was £1.98 per share. There is absolutely nothing in the rules that I can see that will allow a change in that price. Based on that I piled in with an increased monthly amount :-)
I wonder what will happen with saye plans that are already running. Me and hubby have 6 between us. Once the shares are consolidated will an adjustment be made on the option prices of these ongoing plans? If not, then they will very likely make no gain and all will not be worth continuing.
Yes it's always been my intention of selling before the special dividend .. I'd hoped todays news would light a fire under this one ..
Hey Jiffy I'd say it has to be priced in, or let's say 90% prices in. Chances of shareholder approval are incredibly high and the market knows it. What was the must be the value of the Asia sale on a pe ratio type basis? Must be similar to the price they achieved. Not to mention they are plugging 2.5b pensions, handing back 0.6b to borat and cronies
Deemed fair value. I think we'll see some sp appreciation from here, but not much