The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
There was a specific number of shares in the OO which equates to 1 share for every 66 that shareholders had. There was the opportunity to request more than the allotted number OF & ONLY IF these were rejected by other shareholders. So, if everyone took up their entitlement there wouldn't be any surplus from the original shares in the OO.
There was something in the RNS that the big corporate shareholder wouldn't take up their entitlement unless not all the shares were taken up.
It all goes back to reading the original RNS and understanding it fully.
Casper
If you look on the London Stock Exchange source of the RNS you will see that The Company did not release this RNS themselves but that it was released by the AIM. suspensions are usually notified at 7.30am to be fair, so this was effectively 10 minutes late. Casper
It helps to read everything in context rather than speculate, IMO
Casper
Capital Gains Tax (CGT) is paid on the sale of your shares. @ 10% or 20% depending on your tax status. There is also an annual CGT Allowance available similar to your personal allowance for Income Tax
Income Tax is payable on your dividend income with an annual allowance of £2000 tax free. The rates of income tax on dividends are different to other income BUT what you have to remember is that you still have to add together ALL of your annual income to calculate your final tax charge.
For those holding large numbers of shares, this could mean that you Marginal Rate of Tax could be over 45% in some circumstances.
If you are "lucky enough" to be in that position, then it will be worthwhile to seek professional assistance to maximise your tax free position and minimise your tax burden.
All of the above from a layman with a little bit of knowledge
Casper
Lorenzo, I didn't intend to imply that you did suggest this, so sorry if you interpreted my answer in that way.
The original question posed by "BythePool" was "Is 80% of net income the same as 80% of sale price??. "
I was answering that specific post, which quite clearly is incorrect.
Here is the link to the policy if anyone is interested which explains everything in more detail than the RNS
https://www.rns-pdf.londonstockexchange.com/rns/5730X_1-2022-1-5.pdf
Casper
No, 80% of Net Income Is NOT the same as 80% of sale price.
Sale Price is the Money Received for the Asset Sold
Net Income is what is left after ALL costs have been accounted for.
You actually need to read the Policy to see what exactly is and what is not included in the Net Income figure. A link was provided on the RNS
casper
Beresford,
one more reply before i green bin you for stupidity.
As soon as a company declares a dividend there will be shareholders who want to sell (for whatever reasons), however, there will be Institutions and others who want to buy because there is a guaranteed dividend in the future. That's why the prices often go up when a dividend is declared and drop on the ex-dividend date.
I still can't understand the negative views of people towards other people. Why do you want others to have to pay more tax because they weren't able to ring fence all of their shares.
Just to say that the sun is shining brightly here on the East Coast of Essex even if it is a bit chilly. Smile everyone.
Casper
Goodness me Redirons, you must have very little invested if you think that there are not a lot of PI's who have got many multiples of the Annual Allowances invested here. ISA = £20,000 pa, SIPP = £40,000 pa (but maxing out at £1m) (all figures from memory so apologies if incorrect.)
Also, a lot of investors thought that this was going to be a whole company sale originally and therefore Dividend (Income) tax was not a consideration until the FSP was dropped in the current tax year.
Casper
Beresford,
I wonder at your attitude and also your understanding of a situation.
There are a lot of private investors to whom a dividend is not the best tax efficient receipt of income and who might want to sell shares before the ex-dividend date in order to crystallise a Capital Gain at a lower tax rate (eg 18%) rather than pay income tax of up to 45% depending on income levels.
Capser
If you hold your shares in a trading account then they are your "Nominees" and will receive the dividend on your behalf and credit it to your account (or re-invest if that is your default setting)
IF you hold your shares in certificate format, that is when you need to ensure that all of your details are correct with the Registrar.
hope this makes sense
Casper
Morning Ian
Please could you put me down for next Wednesday 12th January. We are busy packing boxes for our house move from sunny Essex on a new adventure in our lives in West Yorkshire. It's a 3 day move, but they start on Wednesday!
Casper
Builder, you are spot on there. The system does not correctly identify/categorise the transactions. It is all based on the VWAP
You can look at the list of trades and with a bit of knowledge, you can see which are buys and sells yourself.
Tilly gives you the VWAP regularly and there are certain clues if you look that can help.
I do think that if you are investing, then you should be able to see and work these things out.
Casper
I haven't had a guess since last birthday, so could you put me down for the 24/11 please. I think it might be too late but it's my 52nd and I decided to jack in work in July and we are soon to be moving to Yorkshire from Essex, so a nice EUA windfall will go down well!
Casper
Monty,
I don't believe that either of the II placements were anywhere near the 3% that requires a TR-1. The first last August whilst still under the FSP was less than 1% which meant that they didn't need to declare (From this I assumed that they were not already shareholders).
Casper
lol, that's good proof.
2nd link doesn't work for some reason, but for anyone that is interested if you click on the company link and then the filing history tab, its on page 12! under incorporation 16/1/1995. You will then be able to see the Certificate of Incorporation. (for those of you who don't know, if a company changes it's name, then there would be a change of name certificate on the date it changed it's name, but you can clearly see that Eurasia Mining Plc is the original name of the company)
Casper
Eurasia Mining Plc has NEVER changed it's name. Link to Companies House below
https://find-and-update.company-information.service.gov.uk/company/03010091
https://s3.eu-west-2.amazonaws.com/document-api-images-live.ch.gov.uk/docs/b0PIT4L2IP0ZuwdIk6xLFjnJG20V7QUGlbtv4kC0hbI/application-pdf?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=ASIAWRGBDBV3AOP67TXA%2F20211020%2Feu-west-2%2Fs3%2Faws4_request&X-Amz-Date=20211020T085757Z&X-Amz-Expires=60&X-Amz-Security-Token=IQoJb3JpZ2luX2VjEEcaCWV1LXdlc3QtMiJIMEYCIQCCUdFw%2FyLjWPMsvqDWDvbTxBc%2FbIOYsws1B7pIjaajxgIhAJdMBsFM1jfuddcIzSbzhCrY9RCAWNOKTN3lWXiJ5WNkKoMECND%2F%2F%2F%2F%2F%2F%2F%2F%2F%2FwEQAxoMNDQ5MjI5MDMyODIyIgypKQ8Z5Y40YDQF%2BFgq1wMW0JBUqnG3TBxVmsLcvkpC6Nr8eDq87n8JO%2FNjHAn1anJVgYzc%2FExaTXumZBxRBdLnXe6iDsQL7y9RMTIXQj1O9MMo65SniWglZZGpNpOq%2FfMfByFilfhPbIRW3huBQIVf%2B3iINYkstT0sdz1Lxq4HYJUy9KJTObfLDNT01Agberfj0mTy7EUiuiYATsmQmhQ%2FsiQ6kB1wpNNE5x65%2BrxGzSqM%2FVMpt2MsckFZzchTnj36Tb1mYCQs0lf6t%2BqQtPIH%2BcoUEhyAeqvp1Hvt%2BO4x9CqiRYryFtvj2vKwHLqOGURzqEBu75n5eNJQNjh1Qj%2B9GXp%2ByrnCTC6jrzgHOcocuxoYvHDX3NLb9RQx5ABlwiqtk4GEo9JerDsasnhUAMPzs8jlJcewUJNmXMfxDq7dVuC6gHOYz0BYzb%2BTyFi8n4BP1sTAK3iC%2F5fhdzwOEsMA3hOOcbjO1FFuI60sUxNPDCI04aPlPBVGqs6e%2FTEVvPx5NlvZMTnQqrqSUXwSpPrwf3O1oS%2F%2BWLZYCRaX3Es6sAeyvBSFiHpuWtramACeso4jyDVzl4KUOvqdkfO%2BmJXxh5j%2F2Hvx6BKLwKsV1TrkR5O%2FbBxeY6mzVPkCk4BtVV8Qs8SbzcYw4P6%2BiwY6pAF4K3fpEos%2FZoCju2B6wur%2BBGwLjGLxSkH8avowgIXg5svvOvz1XnUx0oL%2Fb%2FBizax7Am41ewjgnciTigUvUpxLnKvpTEBWrhia9iXqOyfr9j1xHNfekv1q8Lay6j10KURNIvlcYtGoWyA7AGlx%2BDILWGu3Izf2Sz%2BitrbgTCh9WJNgnK2ykuxveqZChmTVpWzE3tp00cPe55a6kqb7cFH%2F%2BVicyQ%3D%3D&X-Amz-SignedHeaders=host&response-content-disposition=inline%3Bfilename%3D%22companies_house_document.pdf%22&X-Amz-Signature=b5f77346229a5dd53f6149dc5b106355f2b3177400fe2353b6f5e54c6f113e98
Casper
The wording is specific.
It states that they have "created the opportunity to increase phase one annual ore production by 1.7 times."
what it does not state is that they have created 1.7 times more product.
So they can get 7 years worth of production out in 4 years (to use KofC 'a figures)
Casper