Member Info for Corryvreckan1

In summary - the price of oil remains highly voilatoile ;)

Bristol - there is the same £20k limit on a 'bed and ISA' as for annual cash subscriptions.

What you are describing is selling investments held outside your ISA and then buying them back from existing cash within your ISA in a completely separate instruction. That's technically not a bed and ISA, it's just normal investing decisions.

A 'bed and ISA' instruction to a broker coves all three stages in one go - sell the original shares, transfer the proceeds into your ISA (hence £20k subscription limit applies), then buy the shares in the ISA with the money transferred. Most brokers only charge you one fee for that instead of the separate fees that would apply in your example.

Bed and ISA limited to max £20k at current annual allowance so it's defo not that.

I agree with Adon30, or possibly funds rebalancing.

Some of the notifications (particularly the earlier ones) were on the second Wednesday of the month. That would have been yesterday. So not necessarily that late to announce it - yet...

I was about to post an extract from that very same RNS. The key part is:

during the course of 2022 i3 will pay a minimum dividend totalling £11.827 million [...] This dividend will be divided and paid in 10 equal increments.
So "This dividend" in 10 increments relates specifically to 2022 - it states that right there. It had to be that way because they didn't announce the plan until Feb for first payment in March, therefore there could not be 12 monthly payments in 2022.

Also from the same RNS:
"moving from a bi-annual to a monthly schedule for its dividend payments" [note - this is not the same as the absurd claim "10 equal dividends to replace the the bi-annual payments"]

"moving to a monthly dividend payment will expedite the return of capital to its shareholders"

"We are confident in the predictability of our future cash flow, and a monthly dividend will appeal to investors seeking regular income"

Monthly, monthly and monthly. It means just that. Not 10 months every year, but monthly from the start date of March 2022.

Please stop with the nonsense, I'm trying to hibernate!

Try ii – they show the Toronto listing and have a ‘Trade’ option on their page for the company:
https://www.ii.co.uk/shares/valeura-energy-inc/TSE:VLE

The RNS on 13 Dec indicates that the Rights Issue will follow the Capital Reduction which needs to be approved at the AGM on 14 Feb. In the UK a CR also has to be approved by the Court, normally a couple of weeks after shareholder approval, but not sure if it is the same in the German Act. So Feb/March earliest for the RI but they could do it later (up to 31 December) depending:

"This obligation [the Rights Issue] applies for a period starting from the effective date of the capital reduction referred to above until 31 December 2023 – subject to the positive assessment of the then prevailing capital market conditions by the Board of Management and Supervisory Board."

More than a TU, it's Full Year results to 30/9 on the 14th

Citigroup cut their target from 1650 Buy (8th Sept) to 1320 Buy (5th Dec).

Cebo – yes, your two points after “-and any thoughts” have been discussed in detail on here in the last 2 weeks:

See thread ‘Caution - distribution may be a dividend and/or share buybacks’ on the first part

And thread ‘Question?’ on the second part - buyback has to available to all shareholders, not just one.

Ouch... ;)

"Where is the year end trading update"

See the 'Results?' thread, posts on 23 Nov may help (or not).

On today’s cliffhanger RNS-

I was right yesterday when I said it may be safe to hibernate until January ;)

There has never been a dividend announced for Q1 2023. It was purely an indication of some return of capital to shareholders if the FSP did not complete. It could just as easily be a share buyback or a mix of the two. Nothing firm has ever been announced on this.

The court date is not set for 17th Jan. It was “expected/anticipated” to be that date based on a period of time after the GM and festive holidays. They need the GM to approve the vote first and then apply to the court, so it may well not happen until c.late Jan now depending on court time available.

They should then still have time to both announce how the capital return will work, and/or make a divi payment / start a buyback programme in Q1 if that was the case. [caveat – I don’t currently know if they have the necessary shareholder authorities in place to start a return programme without a further GM vote to approve it, but I assume that they do. It’s often something put in place as standard and annually re-voted on at the AGM, but I’ve not had time to look back].

And all academic if FSP completes before then (it wont - it’s a red goose, a wild herring chase, a metaphor for something else I can’t think of right now – only in my opinion of course ;)p

Tune in next month for the answers to these conundrums and more…

"Dated" also confirms that it is Spot and not Future pricing that is relevant.

senseman –

1. – Brent spot prices are traded 11pm Sunday to 10pm Friday (UK time), so essentially a M-F 5 day week
2. – The wording in the Hurricane uplift RNS’s state “first / last five days … Dated Brent quotes” so I consider the “Dated” in there as having to be M-F Business days only, i.e. not applying a flat ‘closed’ price over a weekend if it falls within the first/last 5 day calendar period.

It’s Sting Industries Research that was dissolved, it was Sting Industries Ltd (who owned SI Research) that Iconic tried to arrange funding for. That was non-binding, it was over 18 months ago and Iconic went into Administration less than 4 weeks later. As a result of all of that, and as Iconic are now operating under the terms of a CVA, I personally can’t see how due diligence could now be met on it?

Sting Industries Ltd is still listed at Companies House but their annual Confirmation statement is now almost a month overdue and their first accounts to 31/3/22 are due to be filed no later than Monday 12th next week.
https://find-and-update.company-information.service.gov.uk/company/13263723

They have also taken their website down in the last couple of weeks, which is probably just as well as it hadn’t been updated for months.

No vote on the 3.1p, the GM next week is just for the Reduction of Capital to allow Hurricane to make possible payouts to shareholders in the future. Will only be payouts if FSP doesn't happen, no deadline for that appears to have been set yet?

Also needs Court to approve next weeks GM resolution if it is passed, Court hearing not expected until 17th Jan.

May be safe to hibernate until then :/

Just a reminder that the GM is next week Wed 14th but the online broker deadlines for voting look like they are over the next couple of days, if not already.

For those registered with investorcentre or CREST the deadline for receipt of an electronic proxy vote is 10am on Monday 12th, more details in the Circular and proxy form.

For those posting a proxy form they also need to arrive no later than 10am Monday 12th and there are postal strikes called for this Friday 9th and Sunday 11th.

Bonne chance

OPEC+ decided today to hold production targets at current level.
Slight market rise last week and some commentators anticipated a further cut.
Maybe see PoO slip back a little on open later?

My apologies sheffieldowls, I mistakenly read your OP as if it was you expecting a cheque in the post for your dividend (thinking you held paper certificates) rather than your 'Arthur Daley' broker not coughing up the readies on time. There was someone on another board recently with the same predicament so it must have stuck in my mind.

I agree with Velo that it ‘should’ all be done online now (via electronic transfer) but there are still some brokers who insist on a cheque. Worth noting that your shares may be held by the Registrar in a block registered to your broker for admin purposes, so that they only issue one cheque to each broker for all their customer’s holdings.

I recall these types of cheque runs from a past career I had, perforated sheets in a continuous stream running through a particularly noisy printer and prone to the run occasionally jumping of the guide wheels. Not fun to fix.

Interesting page here from Computershare (who I had contact with in that job), particularly noting the problem with cheque fraud which we witnessed a few times as well, and on the advantages of cheque-less dividends to shareholders:
https://www.computershare.com/uk/the-latest-on-payments

Time to ask your broker to move into the 20th century; and then also consider the further move into the 21st.