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What a p@@s poor offer . I've been stuck with this company since Skyepharma takeover, and will loose money accordingly.
Suggest every shareholder register to vote on this matter through their brokers if in nominee accounts.
Same thing happened to me with Cityfibre Now a 3 billion pound company , thought I read somewhere, although I made a small profit on that one.
These private equity companies are asset strippers and sharks.
Not much of a premium. Usual nonsense about a 40% premium to 3m average after markets have been hot. 23p premium on current share price of 122p is not even 20%. Really poor. Am hodling.
Nothing like FOMO, but tend to agree
Yes possibly, but i think GSK would have made an offer before to avoid paying the bill, why pay and then make an offer doesn't make sense to me. i can't see them involved.
The share price today will give us a clue. Could be shareholder rejection of offer, or counter offer by GSK or Hikma
I see an offer has been made and seems to have been accepted by the board valued at 155p per share (includes the 19p dividend so actually 136p. i'm not very impressed with this and judging by what has been said with the trading update and the pipeline of products coming along undervalues the group. whats everyone else thinking? (Former SKP holder, still not in profit)
'At what point will someone (HIK & several others) decide we are worth acquiring for our legacy'
About four weeks after you said this MrBB!
Daft question maybe but what is the practical difference between DRIP and dividend reinvestment through my broker? Would the SP used for DRIP be fixed on a certain date in advance, where rate at which you repurchase through a broker is at whatever price it was when they did it? Can DRIP be used for shares held in a nominee account?
Lastly what is the order of the transactions, consolidation/ dividend payment/ DRIP or dividend payment/DRIP/ consolidation?
Callasjunkie. I sold all mine too (although I was luckier than you and at least made a tiny profit after averaging down on the drops) I went through the "Special Dividend" (return of capital) and share consolidation with Tesco in February and lost money on the deal. According to the bulletin board comments at the time, many, more savvy Tesco shareholders sold prior to the "Special Dividend" then bought back afterwards or went elsewhere. I learnt my lesson hence me selling VEC last week.
(neither my VEC nor Tesco shares were in an ISA this being already full when I bought them)
GL to A who plan to ride it out.
Call - would you have avoided tax if you had put your shares into an ISA?
Exactly raxfactor. I have my account set for divi reinvestment. Just wondering if after divi/ share consolidation I will end up with the same number of shares as now - something tells me I wont!
You should blame The Aussies !
At the same time,the idea being to maintain the same sp before and after the ex div date supposedly, we will see what occurs.
Is the consolidation before or after the dividend is paid?
There is the option to buy back in after the ex divi date 1.06.21 that avoids the issue of tax, perhaps it might of been possible to wait till nearer the time just in case the sp rises a little further.
However as others have stated the 19p divi plus 5 for 6 share consolidation values our shares at 6x19=114p, I am surprised the price has drifted up towards 120p.
I hear what you say, however you must also not be short of a reasonable income if you're hitting that tax celling
I just sold my holding at a loss.
Didnt wish to but am forced into it by incompetence of current management.
The Special Dividend is taxable as income to shareholders in the UK and I assume Ireland (Revenue in both countries usually treat these matters identically) where I am resident.
I will lose 40% of the dividend in income tax. So I gain 60% in income but lose an equivalent 100% through the share consolidation, as my shareholding will be reduced by the amount of the gross dividend.
So an action that is intended to preserve the share price causes me to have to sell my shares.
The tax advice for UK residents means that all higher rate tax payers are going to needlessly LOSE money.
I can only conclude that this company couldn't give a fiddler's for the private shareholder.
The CFO is paid an obscene £807k a year....and he comes up with this!!!
The consolidation is purely to preserve the market price of the share...just optics
Good luck. I'm out.
I've been here since Black & Edgington, I blame Adam Faith!
Mr B
I think that is occurring at the moment ???
I never understand why GSK didn’t buy us and then pay the damages to there new account ??
HIK will be a good Allie I hope
This will be 125+ by spec divi day one would hope
I think half the trouble with this company is the underperforming management
Active investors needed !!
Application forms available ??
At what point will someone (HIK & several others) decide we are worth acquiring for our legacy royalties,Flutiform,Advair generic,prospective Ellipta generic,& anything else in the pipeline which we are unaware of + our fledgling CDMO business.If our SP doesnt move our value will be around £500mill .Perhaps our SP is being "managed"to enable a pragmatic bid at 150p or so -or maybe I am desperate to exit what has been a poor investment for many years &I still regret not cashing out after my SKP holding became VEC
Great to see Advair approval, however the dividend and consolidation a complete waste of time, the vision of the board of VEC is pathetic a gift of the GSK money frittered away can they not think of a better way to use this cash?
Lack of ambition is obvious, such an opportunity to seek out growth thrown away.
Just bought, seems a good move.
Approval of Advair also not insignificant & our SP reaction will be interesting & obviously hoping it will be very positive
a58 spot on. Sp should rise today on that confirmation plus the hikma news imv.
Thank you a58.