Member Info for Bismarck

Interesting article about the dwindling number of companies listed in London.

https://www.standard.co.uk/business/london-stock-exchange-crisis-shares-ftse-100-firms-business-iwg-spirent-tui-flutter-arm-b1143873.html

IMO DEC should join those who've left and de-list here, would do the SP no harm!

Well said Jim

Clearly there are many posting here who should not be investing in individual companies and should only be investing in ETFs or fully managed funds as they're incapable of understanding anything complicated.

In term of how DEC’s hedging is treated in the accounts....well I never...

Whoops...wrong board.

Probably applies to OPG too though. Time will tell.

I do often think of taking Buffet's advice, basically sell the lot and by an S & P tracker. Would probably have done much better than backing Hum!

Google S & P 500 and look at the 5 year chart

Without positive news I see SEPL back in the 130's again in a week or so. I may sell something elsewhere to top up if/when it happens. As always the dilemma is what to sell, the appreciating winners or the depreciating losers? Ultimately I think the Exxon deal will go through and this will hit £2+ very soon after.

Jarvaman

Further argument is pointless

Tender some shares

Wait until payday

Tell us whether you made money or lost

The end..........

Jarvaman

This offer is intended for II's who own most of DEC and who have an interest in ensuring the divi is sustainable, short term pain, long term gain. Give up some shares instead of taking a divi of similar value. I think it's obvious that Rusty consulted them and got them on board with this before it was announced.

If you are feeling charitable you can join them and tender some shares. He's offering PI's the same opportunity should they wish to participate

It's not nonsense, it's just that most here don't seem to understand what it's about. I appear to be in the minority.

Fair enough Trek, but surprised you didn't buy them back earlier in the week. I got 7250 at £137.5 on Monday.

You've got a point about results though. CMCL dropped from £8 to £6 on a profit warning on Monday but are now back up to £7.85

Another of mine, GSL dropped about 8% this week after announcing they WOULD hit targets, but have since recovered.

Maybe I'll give that a go...

These shares have been trading in the 130's for weeks then suddenly they're up through 150 today on no news. Surely that means a leak or rumours, I guess we may find out which very soon....

I'm almost tempted to tender 100 shares just to see the associated divi not arrive and take the ~£50 hit on 28 March, then no one can argue any more.

There's $42m being paid out, take your divi OR sell your shares, the choice is yours!

Maybe GG was right about some of the posters here....

Just checked,

Divi paid on 28 March, anticipated share purchase 27 March. So those who believe they'll be paid twice will be disappointed on 28 March.

"Following the announcement on 15 November 2023 of the interim dividend for the three-month period ended 30 September 2023 (the "Third Quarter Dividend"), the Company is offering shareholders with an opportunity to elect how they will receive the return of capital of approximately US$42 million, in aggregate (the "Return of Capital"). The Company will return the same amount of the previously declared Third Quarter Dividend, but shareholders will be offered the optionality as to how they receive that payment."

Question - when is $42m not $42m?

Answer - when some people ignore what the RNS states and think it's more!

JDCBC

Let's give up, some on this board will be very quiet when their imaginary "double" payment doesn't materialise. Can anyone remind JDCBC and I when payment day will be to settle this argument?

JDCBC

You and I can explain this until we're blue in the face, but some will not understand. They'll need to wait until the day the second payment they are convinced they'll receive does not materialise.

"This helps to clarify the 40% or 30% FCF assumption from the analysts. "

2023 divi is not 30% or 40% but will be ~100% FCF. If 2024 divi is maintained at current level I believe it will be >100% FCF, unless there are significant acquisitions announced very soon.

I guess institutional investors pay 30% WHT so a SP drop of ~5% on ex-divi day is more appropriate than ~7%.

Hopefully will recover back to ~£10 or more within a week or two, with a gradual rise to where it should be over the coming months, ~£15 to £20 !

I should add that a UK broker will sell you London shares if they have a listing in London. If it's dual listed on a foreign exchange I doubt mainstream UK brokers will they will give you the option of buying the foreign listing, but if you really want them you could ask or maybe go to a non-mainstream broker?

If London market is closed when you place your order with a UK broker and you've missed the closing auction I believe they will try to execute it at the pre-market auction the following day. The closing price is not really that relevant. Tomorrow's market may open higher, or lower.

https://www.londonstockexchange.com/discover/news-and-insights/what-auction

"The total paid out by DEC will be $42m in some combination of cash dividend / capital return, with X number of shares being purchased and cancelled."

I think that's the clearest explanation it's possible to give TheWednesday. There is $42m and that's it, not a dollar more, take your divi or sell your shares, or do a bit of each.

"Totally wrong unless you use a percentage of shares to receive the divi as normal and the rest for the tender offer. If you go for the full divi there’s no cash option"

I tried explaining this to Coaj last week but he refuses to believe it.

@ Jun_man

In £ your example may be more or less correct, but in option 2 you own 7% less shares at the end of it so ~7% worse off