Member Info for Bismarck

Thanks Florence

I'm most definitely tempted on this as a speculative punt, especially considering your comments.

I think today's rise was mainly because I bought 60,000 shares this morning. I tried to buy more but price increased from 13.98 to 14.98 when I tried to buy another lump so I gave up. Subsequent rises were after some very small trades of a few thousand shares.

I'd love to own more at these prices but liquidity is obviously an issue.

I'm looking for undervalued UK listed micro/small caps on Stockopedia. Nahl has come up in my research. A few of the companies I've uncovered thus far still look undervalued, obviously revenue and profits having been adversely affected due to Covid, and may be due for re-rating . In most cases however I think the train most definitely left the station some months ago and there are very few real bargains remaining.

Nahl looks different. Revenue, profits and SP in significant decline for 5 years. Obviously not Covid related and no sign of recovery.

I'm curious as to what they are doing wrong and why anyone (myself included) might be tempted to invest?

Thanks cautionyourblast,

I just checked tax treaties with Bermuda and it appears Bermuda does not levy direct taxes so that explains it.

Out of curiosity I also checked Cayman Islands where Alibaba are domiciled. Funnily enough the same rule applies there too.

Isn't that odd !

I currently hold SLP in an ISA, which from past experience does not normally provide shelter from withholding tax on dividends from foreign companies.

I discovered this because I also hold DGOC which is a US company. When it was listed on AIM (now moved to main UK market) Mr Trump took 15% withholding tax from dividends until I moved my holding into a SIPP which is recognised as a tax shelter by the US.

So although I believe that ISAs are not normally recognised as tax shelters according to foreign tax laws (whereas SIPPS often are) I checked my December SLP dividend payment into my ISA and was pleasantly surprised to find no tax had been deducted.

I then checked double taxation agreement for SA and I believe the normal tax rate on dividends paid to UK residents to be 10%

So presumably this means that either SA does recognise UK ISAs as a tax shelter or someone has made a mistake?

Has anyone here been taxed on SLP dividends in their ISA?

Thank-you all for taking the time to make such detailed and informative replies.

I was not seriously considering selling before seeing the aftermath of the US listing which is now very close indeed.

I think given the level of confidence shown I now feel more inclined to hang on until I can unload some at least at break even point. Maybe I'll only sell half. I actually have over 11,000 shares. I didn't feel too good about that when they bottomed out at about £3 in March. Very glad I didn't sell then!

I'm in quite heavy with BUR having had a fair sized position pre-MW. I've averaged down quite considerably since then to about £8.37 but I'm overweight as a result. Ideally I'd like to sell 60% to 80% of my holding at that break even point.

Imagine my delight at seeing >£7 yesterday! Then today the all too familiar story, it's the biggest loser in my whole portfolio again.

Do people honestly believe the SP is going to reach anything like £8- £9 in the next 12 months? Is the US listing really going to make much difference?

I'm seriously thinking of letting a fair chunk go at a loss to balance my portfolio a bit better. Not the full 60% to 80% that I plan to eventually offload. Problem is I cannot see any obvious or better opportunities elsewhere at the moment, but to be fair I've not really been looking. I will kick myself when after selling the almost inevitable happens and they start picking up again.

Honest and balanced opinions please?

not necessarily, that would be like a script from Hollywood. ..might just be a very seriously ****ed off Burford investor happens to bump into him on the street after a few drinks...

I can't help thinking that CB's ability to look after his legal interests may now be largely irrelevant. He will now surely forever be looking over his shoulder in fear of retribution after doing wrong to so many. He may have all the money he could ever dream of but it may be of little use to him now.

I've just taken a big gamble and doubled my original holding to bring down my average price paid to about £10
Funny thing is, at the current price of <£5 the HL website is now showing a PE of about 9 and >2% divi. At these numbers It actually looking more like a value stock than growth!!.

Go back about 1 week or so and you will see I posted a question called "Dividend Cover" to which there were a lot of replies with some differing views on this topic.

Thanks velo and tomglan

The cover of 0.74 was on sharesmagazine and their maths is wrong. Based on their own data of £143.6 ÷ £187.79 their cover value should be 0.76

Now I understand the main difference is eps vs adj eps.

My thoughts are, why would a company already paying very generous dividends continue to increase them by 10% year on year if they really could not afford it. Surely most long term shareholders want a sustainable diviend and a company in good financial health. But what do I know?

Please can someone explain the correct div cover for imb. I've seen it quoted at 0.74 on some sites and 1.45 on this site.

Thanks in advance.

Thanks for all your replies, greatly appreciated!

LONDON (Alliance News) - The chair of British American Tobacco PLC said Thursday the cigarette giant remained in "good shape" for further earnings growth in 2019, as it continued to perform well.

On the same day I see that share price is down by >2%!

Can anyone explain why please? I read the full news report and found no obvious bad news further down.