Member Info for Couerdelion

If you look at GDP per capita figures, you have to ask yourself where all the money is in the US. Trump politics is bad for trade which is bad for economies general as some of the costs of higher tariffs will be borne by exporters to the US - the rest will be paid by US consumers - and trade will suffer which hurts everyone.

MKS won't really be bothered by any of this except through second-order impacts.

As for the downbeat mood of the UK government, I myself will give them some credit here for honesty. Fine there is a political spin to it all but we've been dealing for many years with politicians without the courage to be honest with voters so there is some benefit from a more sombre (call it realistic) view of public finances after years of kicking the can down the road - hard to do when there are so many potholes around.

The issue of bonus shares or shares relating to employee share schemes is all fairly standard material and since I can't see anything in the new permissions, I can only assume that "Allot" means "Issue and give" rather than simply giving shares that they already own (of which they already have a lot held in treasury). We can probably argue about the meaning of allot but I suspect this is one of those areas where it has a different meaning under company law.

So if we are to assume that the BoD are seeking authorisation to issue 110m shares, it brings me back to my original questions: why do they need that level of authorisation and does it not risk a very large dilution in share capital.

By the same argument, the impending move to the main market and introduction to FTSE 250 will lead to buying among the tracker and other funds. All the noises I've heard before about moving up have invariably been positive.

Let's not get caught up in childless political arguments driven by newspaper stories. Focus on the underlying demand and we'll all be happier.

FWIW, the BAE board is hardly likely to awash with left-wing ideology.

Looks like the 1300 price is a fairly solid support level. Will probably be topping up a little later today at these prices.

If there is any institutional selling, I'll take that risk. I've got myself happy with the funding position and the interview struck me as solid. Will probably add a few more later today at a price that looks good value.

Thanks guys. I'm not totally satisfied but the distinction between allotting and issuing shares is a helpful one. But I am still intrigued by the request to be allowed to ALLOT 110m shares (or £1.1m nominal). It still feels like overreach. Even if we assume that the buyback shares held in treasury might be used for bonus awards the number is far below this figure so what do they need this permission for?

I think it will break through 140 at some point. But for me, the prices today were a good opportunity for a little profit take which I couldn't resist.

It'll be back

I had to bite at these levels and am now clearly overweight. Not suggesting it has hit bottom but I think we are already in bargain basement territory and I have some surplus cash to spend.

Not sure how relevant AI is to JLP. The fundamental questions that we have to deal with here, those within our control, are operational.

Was it simply because we had a "bad day for JLP" that we've drifted into Terminator discussions?

A heavy burden for the seller who only walked away with £500 and yet impoverished thousands of us.

It's from the notice of AGM document (resolution 15)

"15. That the directors are generally and unconditionally authorised pursuant to section 551 of the Companies Act 2006 to exercise all the powers of the Company to allot shares in the Company and to grant rights to subscribe for or to convert any security into such shares ('Allotment Rights'), but so that:

(a) the maximum amount of shares that may be allotted or made the subject of Allotment Rights under this authority are

shares with an aggregate nominal value of £1,095,406.88, of which one-half may be allotted or made the subject of

Allotment Rights in any circumstances and the other half may be allotted or made the subject of Allotment Rights pursuant to any fully pre-emptive offer or pursuant to any arrangements made for the placing or underwriting or other allocation of any shares or other securities included in, but not taken up under, such fully pre-emptive offer;"

This is just a bit of profit taking. I'll be holding on to most of my shares and expect well after it reaches 10p

Another few % points and I'll be taking another tranche of profits from the sub-4p buys. Many thanks to FIL and other institutional sellers for this great opportunity.

Looking through the voting form I noticed that the Board have requested authority to allot shares with a nominal value of £1.1m. Can someone explain to me why this isn't a potentially massive dilution as it seems to equate to £110m new shares (or 70%) of the total shares issued?

Dividend confirmed - thank you very much. I'll be happy when the next tax year starts and I will be able to top up to the point where dividend reinvestment becomes more viable.

Latest NAV show the discount has widened to 25%. Still looking to be a solid investment.

I think we all would. One small caveat - no one is offering that.

I've seen a happier board here on days when the price was falling.

I look forward to many more similar days of pessimism.

Good enough news but don't know if this will move the SP.

Leon was being prudent. New power agreement now approved and Roan restarted yesterday.

A time to be bullish