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I am assuming there will be transaction charges to pay heaven knows what they will be.
Correct
Am I missing something here. I have assumed that whatever quantity of shares we have on LSE, the same quantity will just transfer on 21st June and will take whatever the opening price is in Euros. Is that correct?
Hi Badgernator,
Many thanks for your thoughts and TOTALLY agree with your thinking ref valuation - ref delisting, just want to get it done and move on eh!
With regards the KfW facility and from what I can see, there's a yearly interest of 9.5% through to redeeming the facility. they have until 2026 to redeem, although the BOD's has declared their intention to redeem it sooner and let's hope that the bond issued yesterday helps us down that road
Also I think the messages on here show how the change of listing is destabilizing the sp, casual investors aren’t going to be buying Tui shares. I’ve been adding consistently once the dust settles on the move Tui should be valued on its business rather than where it’s listed.
Mike what interest is tui paying on remaining kfw facility?
Hi Duka,
Hope you're very well.
Evanescent is correct in saying that if ANY broker simply cancelled your shares, they would indeed be breaking the law and as such, they simply couldn't do it.
If I'm honest, as I've seen a number of queries on here, I'd simply wait until the official comms comes for Tui, which I'm guessing may come in April, although it may come out with the Half Year results on 15th May, as this is still approx 5 weeks from delisting on the 21st-24th June 2024, which is more than enough time to get things sorted.
Brokers have no more clue than any of us right now and as such, any comms from them should be taken with a big dose of salt!
As I say, best to wait for the official comms and then you'll be good to go - hope this helps
Hi, sorry if yiu feel this is the case, I called the number as I was unsure, if you see my previous post on here you will see I am not as experienced as most, I was questioning what they advised
Yes you are right already sold all of my shares.
Nonsense....that would be tantamount to theft so definitely will not happen......perhaps you are trying to instill fear in the foolish to trigger a drop in price to give you a lower entry point?
Hi, I contacted the number for share helpline as really unsure what will happen to my TUI shares, they advised when delisted my share will go so I will not have them? So if I do not sell them prior to delistening I will lose them, is this correct? If so only option is to sell?
Hi all,
So was wondering what the RNS today titled Pre-Stabilisation was all about and my sense is that they've incorrectly titled it, as it should be sustainability - I think!
Anyway, for full details what this entails please see link below, which is from the Investor news Tui site itself.
The reason for sharing is that it feels a good thing to do, but also gives them further monies to help pay off the remaining KfW facility, which was part of the deal done during the pandemic and which basically saved the company from going bust!
The reason it's a good thing to do and I'm hoping they do one or two more of these bonds at a similar value, as from my understanding, until they remove the KfW facility, which stands at 1.1 Billion euros as of now (they paid off 1 Billion last year as part fo the RI), they are unable to pay dividends, which of course would be great and a big driver in our SP.
Assuming from what they say in the link, is that we're probably looking at a reduction in the KfW of approx 450 million euros, and therefore finding the other 650 million, would get this 'off our backs' once and for all.
Let's hope another Bond is announced in the coming weeks which clears the decks and gives us great news 'for once' eh
GLA and hope this helps
https://www.tuigroup.com/en-en/investors/news/2024/ir-news/20240228
Mike and Clank, thanks for your reponses. I am with ii so have the early option, but will just wait. May double down with my new tax year contribution depending what the price is.
Nice explanation Mike
This is also a handy link written yesterday on Shares magazine showing our options come delisting date
https://www.sharesmagazine.co.uk/article/find-out-whats-next-for-tuis-uk-shareholders-after-delisting-vote
Hi deatr28,
For what it's worth, I'd simply wait - why, because when the UK shares are delisted on the 21st June and then all shares are converted into euro denominated shares on the 24th June 2024, you won't gain anything by doing stuff early - ie whatever the German shares SP is at the end of the 21st, we'll ALL get that price on the opening of the 24th, as I understand it.
Additionally, moving early may well involve costs and assuming that's why ii is actually offering this service, whereas I'm pretty certain that when the transfer actually happens according to Tui's timeline and confirmation of next steps, that Tui will take all relevant costs directly - only my assumption with this last point, but as costs have never been in any of the formal declarations about the delisting, you have to think that Tui will cover costs according.
Clearly only my thinking and hope it helps
Hi Deatr28
It depends on your broker really and their processes so I woul talk to them direct for advice.
Mine are not making any decision as to what to do with my shares until June 21st and they do not allow an early transfer before then.
I would say newie question even though I have been investing for many years, but never seen this before
If I go for transfer does that mean the share purchase/sale is immediate or does it take a week/some time to buy the shares therefore there is a risk of share price movement during the time shares are not held?
For example if I did it at the moment with no spare cash, I would have to sell my UK TUI shares and then wait for the settlement date before I could buy the new shares therefore exposing myself to any price volatility between these dates.
Alternatively, I could wait until April when my next year contribution is made and finance the transfer by buying and selling at the same time.
If the early or late transfer does not expose to price volatility it makes sense to go for this as I am not tying up my capital.
Any ideas?
I opted to transfer early. I want to buy more once I can invest additional funds into my ISA.
Are you joking we are stuck in a rut now till June 21st.
Profits surge at Irish arm of TUI Holidays to €5.89m
Updated / Thursday, 22 Feb 2024 14:34
TUI Holidays Ireland Ltd's revenues surged by 26% from €118.13m to €149m in the 12 months to the end of September last
Pre-tax profits at the Irish arm of package holiday operator TUI Holidays last year increased by 86% to €5.89m as the business benefited from increased numbers of Irish holiday makers holidaying overseas.
New accounts filed by TUI Holidays Ireland Ltd show that the company recorded the sharp rise in profits as revenues surged by 26% from €118.13m to €149m in the 12 months to the end of September last.
The pre-tax profits of €5.89m last year follow pre-tax profits of €3.16m in the prior year.
Profits were boosted last year by €1.2m in interest receivable from other group companies offset by €256,000 in finance expense.
The directors state that "a strong trading performance enabled the business to improve its profitability".
The business is controlled by the German based TUI AG and the directors for the Irish unit state that they "are satisfied with the current level of Irish package holiday bookings for 2024".
The firm also operates retail travel agency outlets here and the directors state that they expect that customer numbers "will reach 2019 levels in financial year 2024".
They add that "wider use of online distribution, the provision of dynamic production capacities for flights and accommodation and the investments in digitalisation are expected to further improve the results".
The directors state that in addition, the group "has a greater ability to hedge against changes in fuel prices and in exchange rates compared to financial year 2023".
In their report, the directors state that it is expected that customer numbers will continue to grow through use of online distribution and strategic partnerships with third party agents.
The company recorded a post tax profit of €5.15m after incurring a €746,000 corporation tax charge.
Numbers employed increased from 80 to 90 last year as staff costs increased from €2.93m to €3.66m. Directors' pay totalled €200,000 made up of €185,000 in remuneration and €15,000 in pension contributions.
The firm last year received no Government Covid-19 wage supports and this followed the business receiving €551,000 under that heading in the prior year.
Shareholder funds at the end of September last year totalled €15.53m.
This smells like it could happen v soon. This afternoon might just be it…. Fingers crossed all.
Thanks, Legs, I got that. Sounds seamless. Seems it is a simple choice between choosing to transfer before the deadline or leaving as is until the deadline . Apparently the transfer would take maybe a week no what date you choose during which trading would be impossible. Costs and Other things - like what I don't know - will have to be clarified.
Interactive investor have an in-house Corp notice indicating the option to transfer Tui shares earlier to the Frankfurt exchange. No mention of any cost implications only that they will be converted to Euros. No fx rates indicated.
Delisting is only good news. anything decoupled from the LSE rips up.
Interactive investor have an in-house Corp notice indicating the option to transfer Tui shares earlier to the Frankfurt exchange. No mention of any cost implications only that they will be converted to Euros. No fx rates indicated.
Might be helpful for anyone in doubt about the delisting. :-))
😂