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Despite the mystery of how Drahi came to accumulate his twelve percent with no identifiable falls in holdings elsewhere ,(except for the subsequent Blackrock declaration)there is no SE rule that forbids him accumulating up to 30% of the equity without making a bid. Obviously the accumulation of a growing stake would start to drive the SP up and he presumably wouldn't want that if he were planning to bid . It is also clear that he will be aware of increasing government concern about foreign ownership of key strategic elements of the UK infrastructure , it may not be battleships, but broadband is where wars of the future will be (are being?) fought.It seems to me that whatever his strategy it CANNOT include ownership, it could merely be seeking to drive up the price of an undervalued company to hold an increasingly valuable asset or intending to force a rationalisation of the BT empire , the sum of whose parts are surely worth more than the current market cap of about £18 bill , Openreach , EE mobile, sports rights and revenues , consumer broadband , business services, ..... Spinning off EE as a separate entity might be worth £8/10 bill(just a guess)unloading the sports rights and customer base a billion or two more ....pretty soon you're talking real money!!

AS I posted on this board ages ago the removal of MS Sharon White from OFCOM was the best news BT has had in years ,because of a fundamental misunderstanding on her part of her role she kept the screws on BT with regard to cost and repeatedly failed to see that BT, as a near monopoly supplier ,(at the time if not quite so much now)was effectively being restrained from upgrading the UK broadband network to meet the growth in capacity needed for more customers using more data. It is no coincidence that a year or two later a more rational regime is in place and fibre rollout is beginning to accelerate , sadly about 3/5 years later than it should have .(Plot Ms White's tenure at OFCOM ,Mar 2015 to Nov 2019 against the BT price chart!!)

SCB LLOY have had twice within a decade, a " Black Swan " event , either of which without some luck , some substantial government help (remember we are all standing behind LLOY business loans) and prudent (perhaps over prudent ) management could have signalled the demise of the company. Your latest post is one of dozens today from disgruntled but to be blunt, ill-informed shareholders who want a bonanza of dividend returns and want it NOW, even though as we all know, don't we? that the latest crisis is far from over , yeah I doubt the UK is going to suffer many more deaths but LLOY like every other bank, lends to business who operate globally and depend on global recovery from Covid something which is IMV two years away.If you really are awaiting a £9500 divi you must hold a position worth around £1mill , if that is the case you really should understand your investment better.As I have tried to point out several times today they have not "smashed it",they have made a profit of (excluding exceptionals) slightly LESS than the 2020 first half and clearly see risks going forward .

Never....... It's the "wellhead price "when eg sold to a company who transports it or it is fed in to a pipeline or whatever . for many fields RDSB will have a forward contract renegotiated very so often as the market price changes , but generally lagging . So the figs may look better next quarter as some liquid prices will have ben bumped.

Char...... another very good day is the "glorious twelfth" not for grouse shooting , I think that's barbaric, but it's XD day.If you really hold RDSA FFS get them sold before then

Asperger one last attempt .
Lets say your bank gets in touch to say you're overdrawn by £1k, the next day they apologise , say they got their sums wrong and you're only overdrawn by £800. That does NOT mean that you have got £200 to spend.
Got it?

Asperger my last response as this discussion is rapidly becoming pointless. The impairment credit is an accounting adjustment , it does not exist in the form of a pile of notes in a vault .It is merely that a big(hypothetical) number from last year has been reduced by a less big but still hypothetical, number to a smaller than expected DEBIT!

Asperger, the accounting adjustments (negative ) last year and (positive) this year are just that, accounting adjustments , they in the end didn't or haven't so far paid out £3.8bill,as they had feared, but as they've only added back £656m , they clearly expect to suffer bad debt losses in the region of £3.1 bill , so that is NOT money available to distribute to shareholders, it is merely that a predicted £3.8 bill loss is now predicted as merely a £3.1 bill loss , would you like to calculate your share of that!!

Bank accounts, not yours or mine, are an arcane science based upon wild guesses(sorry detailed estimates )and clearly if LLOY realise they might still have some considerable write offs in the future aren't going to pay out to shareholders until the dust begins to settle.that won't be until next FY at the earliest but for patient holders , of which I count myself one , this will be a sound if unspectacular investment.

formatting even worse than it looked on screen, imagine two columns

Asperger these are the key nos(sorry can't get cut and paste to work)
all figs in £mill
2021 2020
underlying 3409 3537

impairment 656 (3818)
underlying profit 4065 (281)

so last year impairment were a reduction to profits of 3818,(ie they set aside that amount against bad debts) this year were an addition of 656(they added profit back because the bad debts were less than expected), the major reason for the turn round in the results as actual profits were a tad lower

Hope that's clear and apols for the scruffy formatting!

Asperger , if you look at the detail of todays figures almost ALL of the profit comes from an adjustment of bad debt risks(impairments), half to June 2020 -£3.8 bill , half to June 2021 + £656mill. That is a ONE OFF which will not be repeated ,progress from here will be positive but MUCH slower , so a cautious divi is sensible despite the ill informed moans here.

Happy .. yes very slow this am.

Original harry.... note from the the RNS "Additional investments of three tranches of £2,000,000 each will be made by the Investor for new Shares with the value of £2,090,000 per tranche approximately three, six and nine months after.....and
"Atlantis may also obtain further additional investments from the Investor, in an aggregate amount of up to £4,000,000, with the consent of the Investor, for new Shares with the aggregate value of £4,180,000 after the initial and subsequent investments."
So all the investment have a built in 4.5 % discount, quite why todays deal seems to price the shares at a little over 4p is unclear to me .

I suggest holders go back to the RNS of 16 December last to read or reread the RNS laying out the terms of the deal behind todays announcement . The positive is that there is an investor willing to keep funding SAE with £2 mill. dollops of cash in return for shares at a 4.5 % discount to the current SP,. for some time to come. The drawback is of course that every such cash injection has a negative impact on the SP, perhaps exacerbated if the mystery investor immediately sets about selling and instantly banking the profit (though in a tight market that's obviously easier said than done!)
While the recent RNS about the withdrawal of the receivers appointment (still unconfirmed any where else that I have seen?)is clearly good news I still envisage a longish road to recovery here and remain an interested bystander.

For those who are interested (but couldn't be bothered to read to P 44 of the report!) GSK have held the quarterly divi at 19p(same as Q1) and promise 80p for the year .That's 5.7%....remember they will reset to 55p for next year after split,That's an average of 4.8% over two years.

Results are a bit of a catch - 22. Obviously the board want results to look OK , but for the break up plan to be a success they will be keen to keep some "goodies" back to bolster the results of the separated companies post split.I expect results on a par with last year , maybe a little better but far from spectacular.If real SP growth is to come here it is over 2/3 years, whatever the outcome of the recent board plans , fundamental change will happen and will be SP positive but patience is required.In the meantime GSK should be back to being a regular 4/5% divi payer.

Barclays results today show a net release of £0.7 bill of impairment charges cf £3.7 billon last year owing to the improved financial position of borrowers . IIRC Lloyds impairment charges last year were £3.8 bill, so it is reasonable to assume that LLOY results will include a similar highly positive add back.

Reports passenger numbers 75% down versus 2020 figs (note 2020 NOT 2019 which was a"normal"year). Market reactions always unpredictable but may well be sharply negative for travel related companies.

An FT article published this pm with a Chicago Dateline details a problem with the BOEING 787 Dreamliner production schedule and suggests that Boeing might announce a "forward loss" on this years production of "Over 100 planes already produced but[which] will not be delivered this year". I believe customers can choose RR engines for this plane ,(can any expert confirm?)so may impact recognition of some RR sales in the current FY.

Amman The WBFH figs are based on the briefing accompanying the AR, your "EFH will be DOWN (my capitals)around 55% is the same as my 45% ie 100-55 = 45.The statement should be read as down BY 55% not down TO 55%.
Todays telegraph piece includes the following para
The company also revealed a “severe but plausible” scenario with flying hours at just 40pc of pre-pandemic levels in 2021 and 2022. But just two months later at the annual general meeting, (in May)flying hours were revealed to be at 40pc of 2019’s levels, “supported by cargo flights and the maintenance of key routes”.
so based on WE's original 2021 estimate of 45% ,updated by the fact that in May (5 months of the year gone) they were operating at 40%, the company has recognised that without a very sharp and early rise in (essentially transatlantic) long haul they are operating in the expectation of a ~40% year.