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Share consolidation approved at AGM today so should open at 67.5p on Tuesday.
Looks like interactive investor are setting the right standard by crediting accounts today.
Quick summary points:
Volumes only slightly down on average from April, total was inline with laserdisc's estimates.
£/$ FX c.1.7% up so that's a headwind.
Average Brent (plus profit sharing from BP) - $85.02, little changed from last April
Fees and costs - total for 2 offloads only $2.03m which is significantly lower than expected based on Sept statement ($1.9m for one offload).
2 offloads but they haven't split the breakdown, may need the press release later for that if there is one.
https://www.prax.com/information-for-holders-of-dcus/#documents
Summary of some of the brokers and analysts views ahead of tomorrow:
https://www.ii.co.uk/news/earnings-preview-jd-sports-reports-after-outlook-cut-disappointment-al1711546377372143300
From the DCU deed poll:
“3. RECONCILIATION
3.1 Not later than five Business Days after each Payment Date, the Company shall provide a statement to the DCU Holders as at the particular Payment Record Date of the amount of the Deferred Payment made on the relevant Payment Date.”
Payment is due tomorrow, 28th. Last September the reconciliation (Payment Calculation Statement) was published on the payment date. Under the terms of the deed poll they could technically wait until Monday 8th to issue it, but I expect it will be tomorrow.
Bottomsup - "It will be good to see another Rns this week"
You may get your wish tomorrow - from the Q4 update on 26 Feb:
"...the Company's 2023 year-end financial statements which will be issued by 31 March 2024."
Well then, March hasn’t turned out to be quite as mad as the saying suggests.
The BRC and NIQ reports on 5 March appear to have been the catalysts needed to halt the reversal. That date marked the turn up from the low point of the downtrend and it’s been a nice rise since, backed up with further positive signs from aditional retail data. The results vacuum, that was getting just a little bit testy, also seems to have turned for the better and today’s update from Ocado hopefully easing some of the domestic turbulence.
The 200DMA has been treated as sacrosanct with the low point turning just above it. ‘Twas never breached and the SP is already clear of both the 20 and 50DMAs as well. There was a hint of a W bottom from mid February to early March and we are now well clear of the W midpoint so that’s a good signal. The Weinstein disciples amongst the throng may now be thinking that it’s looking like a return to a Stage 2 uptrend; for the non Weinstein disciples and those wondering wot I’m blabbering on aboot – Stage 2 is a good thing. Yay :o)
My earlier observations in this occasional series on market dynamics highlighted the potential for a Head and Shoulders pattern to complete around this time at around the 200 level, and then go sideways for a while. Well, we got the sideways a bit higher and a bit earlier than I anticipated – a gorgeous looking corkscrew that ended with today’s break out – and, crucially, today’s close was just above the shoulder point. That should be key to the H&S now being consigned to the digital archives, never to be mentioned again (be nice now).
The close today was bang on a key support/resistance line though (if you are really bored with the in-laws this holiday weekend you can have ‘fun’ tracing it all the way back to 2003) and curiously it’s at the exact same point where an extension of the base of that lovely 15 month uptrend might cross it. Key trend lines crossing over in a ‘confluence’ may possibly mean a bit of SP hesitation and stuttering around, unless it smashes through tomorrow without a hindward glance.
Unfortunately - *sigh* - all of that means that there are now two large unfilled gaps on my chart that are going to completely mess with my CDO for the rest of year. Perhaps lots of chocolate and a nice profit on my investments will get me through the pain, hmmm?
Right then Easter, what’s in-‘store’ (stop me) for us at the end of this wondrous financial year? I’m going to take a punt here and suggest that we may even see a post YE trading update in April. It doesn’t normally happen, and if it does I suspect it may be relatively brief, but it would be a nice bookmark to recent events and set up nicely for the results on 22 May?
Happy Easter and a Happy 2024 Financial Year End to one and all (Dickens can rest easy I think).
From the results RNS 19th March:
"The Board of Directors has proposed a final dividend for FY2023 of $0.04 per ordinary share ("Final Dividend"), which is equivalent to approximately 3.1 pence per share. Payment of the Final Dividend is subject to shareholder approval at the Company's 2024 Annual General Meeting ("AGM"). Should it be approved, the Final Dividend, together with the Interim Dividend paid in September 2023, would result in a Full Year Dividend of $0.09 per ordinary share, which is equivalent to approximately 7.1 pence per share. Further details on the timing of the potential payment of the Final Dividend will be provided ahead of the AGM."
AGM is 26th June per website.
Everything else is conjecture.
Bumping up this thread for folk who want to know about the general administration of the DCU payment due next Thursday. Please hit reply to add anything else important that you think may help others coming here with questions.
There is a separate thread about tax implications which has an excellent discussion about the post-ISA world of the DCUs and how various posters (and brokers) are approaching it; worth reading comments there (and from others last Sept/Oct) if you are unsure what's going on (no advice intended).
Maybe best keeping the topics on the two threads separate – admin and tax - so that folk can easily refer to what interests them most as I suspect that both threads may get bogged down through next week.
Ta muchly
C
I see now, you are in the same position as NMBS for that 20% portion then. I understand the logic of your approach, it ties in with the general view that payment into the ISA should still be correct where the broker does comply.
Doing nothing saves a fight with HMRC as well, for now at least, depending if they go to a VAR review for offside further down the line. But I don't think they will be bothered TBH, they have much bigger fish to chase.
Machin - fully concur with your descriptions of the various elements there. NMBS has had the misfortune of having to change sides at half time so it's become a bit more complex for them. The effective 'loss' from the initial 0.83p is caught up in the ISA tax wrapper and therefore not immediately apparent how to utilise that against the 'gains' on the subsequent payments they are receiving outside the ISA, other than to argue the case with HMRC if need be.
Nike are going to need those savings to help pay for the next stage of their strategy. This one must really sting at Adidas HQ, like being whipped with a wet towel, but Nike offering twice the amount they did:
https://www.ii.co.uk/news/berlin-says-german-fa-lacks-patriotism-for-dropping-adidas-al1711105192502569500
NMBS
Try this one to start, my post about halfway down, 29 Sep 2023 20:53. There are other threads around that time if you switch to thread view. There is a very similar view on the ADV-FN forum on 5 Jan this year from dave999 after discussing it with HL (who maybe read my post first ;o).
https://www.lse.co.uk/ShareChat.html?ShareTicker=HUR&share=HUR.L&thread=FA0EB710-6294-41E0-8B86-141C8F367278
https://uk.advfn.com/stock-market/london/hurricane-energy-HUR/share-chat?page=3835
As a follow on from that, how you account for CGT is a private matter between you and HMRC, regardless of which account your broker pays the money into. So just because they don't pay it into an ISA, doesn't mean that you can't argue the case that it should have been if that is what you believe (and some of us here do believe that and some brokers still believe that as they did pay it into an ISA in Sept - we will know better next week if that continues and I suspect it will). Whether or not HMRC then accept that view is a separate matter to how you first choose to prepare your tax return.
That point aside and returning to your question, how to do the CGT calculation when the sell value is spread over a number of years rather than in one go is a matter for you to decide based on the HMRC rules, or get professional tax advice. I'm not, and I doubt anyone else posting on here is, qualified to give tax advice, therefore regret that I can't answer your specific question about how to do the calculation.
https://www.gov.uk/tax-sell-shares
Nice move today, the February UK Retail Sales data from the ONS may add to the momentum tomorrow, should appear at top of this link at 7am:
https://www.ons.gov.uk/releasecalendar
UK Retail Sales from the ONS at 7am tomorrow, should appear at top of this link:
https://www.ons.gov.uk/releasecalendar
Megla - remember that Next also pay a half decent dividend, JD ...well...um...
Okay JD have been clear they are investing for growth at this stage rather than paying out to shareholders, and this stage is behind where Next are on the curve. But that growth strategy obviously took a dent last year so, as you say, waiting for the TU to see if it was just a dent or the start of a trend.
Unfortunately JD are now behind everyone else with reporting so the market doesn't yet know how to value them compared to peers. 'til next week...
Nike results are not until this evening, after NYSE close.
Last post from me on this topic, just a perfect example on a point I made before. I mentioned that:
“Sometimes you can both buy and sell below, or above, mid price depending on availability of stock and the demand/desire of MMs to get rid of it – you can sometimes tell what the real active spread is by looking at the trade prices going through.”
On Amaroq Minerals today you can see all trades being marked by LSE as ‘Sell’ as they are all below mid price in a spread that was reported as 82-84 all morning. The trades at 82.35 - 82.49 were in fact all initiated by someone placing a buy order with their broker and the MM has filled the order at a price below mid.
https://www.lse.co.uk/ShareTrades.html?shareprice=AMRQ&share=Amaroq-Minerals
The 84 in the spread is possibly a sell order that someone is hoping to fill at that price, once the lower priced stock is shifted (I don’t have L2 access so can’t check that) so is skewing the reported spread to the upside, despite the range where all the current activity is actually taking place.
You can see the same on yesterday’s trades within the same spread as well, with the high 82s actually being ‘buy’ in origin, despite being below mid, and those around 82 being ‘sell’.
Yet according to LSE no-one was interested in buying this stock at any time in the last two days, therefore unreliable.
Stargate - the sector comparison you are using, is it the Personal Goods sector listed on this website, or another market sector summary?
If it's this website's list then the only other company on there that is remotely comparable is Revolution Beauty, the others are all high brand clothing and luxury watch providers that have also been heavily hit by the China slow down, profit warnings and high interest rates, so not really comparable in my view. I'm open to hear suggestions for better alternative comparisons.