Member Info for Crossley

Chucked another 10% as well, 70% in the end.

Just dipped the first toe or two in here. Never getting to £23 quid though, not for me, not on fundamentals. As I said some time ago, £20 would be a great achievement imo.

Hello Steve, hope you’re well mate.

Afternoon Armani,

(Reeves is crying in the commons!)

60% of MNG gone this morning. I’m now swimming in cash. Holding my finger here…..

Any odds on Reeves getting sacked today?

Https://www.iairgroup.com/media/lb2o5ex5/spanish-tax-informatio-on-dividends-for-iag-uk-resident-shareholders.pdf

This is a true occurrence, my 10 year old daughter has been on a science experimental experience for a few Saturdays over the last four or five months. They finished this week. All the kids got called out to receive their certificates, one school ant a time. Out Violet went up to get hers and they moved onto the next School that had three kids in attendance. When they called the third child out to go up and get their certificate. The name called was Isis.

I just looked at my misses with raised eyebrows….

Morning Armani,

Along with the homes, there’s the free prescriptions, dental, tv licence, glasses/contacts, and all that extra sweat from walking round with their free hair pieces? Maybe if the travel costs were not allowed to be reclaimed for all this free travel, that’d cut down on the carbon production? Not doubt the fires will be on 24/07 as their not used to the winters here…

The final dividend will be paid from 30 June 2025 to shareholders on the register on 27 June 2025 (the dividend will be subject to a 19% withholding tax (€0.0114 per share), resulting in a net amount per share of €0.0486).

The updated timetable indicates that the scheme is also expected to become effective on July 1, 2025, immediately following the sanction hearing. Direct Line shares are slated to cease trading by 7:30am on July 2, 2025, with their listing on the official list and trading on the London Stock Exchange set to be cancelled by 8:00 am on July 3, 2025. Concurrently, new Aviva shares are expected to be issued to Direct Line shareholders by 8:00am on July 3, 2025, with dealings in these new shares commencing at the same time.

Aviva was clearly the cheapest for car insurance for my ‘nippy’ golf this year. Lowest I’ve paid for some years.

On another note, is it Thursday the additional shares hit the market still?

… if something like that was implemented tomorrow. Think my phones going into boil mode.

Have a pleasant evening

Although, Persimmon & Vistry were at the worse end of that 3.8% which, you’d expect that report to affect those two the most. In fact, I reckon that would be about curtains for Vistry, what with their tighter margins that have already been signed into existing contracts

Did read this about b*llend and b*llendess at the weekend. I’m sure they are both doing it on purpose?

Ed Miliband and Angela Rayner have been issued a warning over a "reckless and unrealistic" plan to copy France’s net-zero housing laws.

French laws limit the carbon production of new builds over their lifetime, including their construction, forcing house builders to abide by the strict rules.

Since the laws were implemented across the Channel by Emmanuel Macron, construction costs have soared by around a fifth

The rules have also been blamed for driving up construction costs, thwarting development and causing house prices to stagnate.

Shadow Housing Secretary Kevin Hollinrake warned against this approach, suggesting it will hinder the Deputy Prime Minister's uphill battle to fulfil Labour’s manifesto promise to build 1.5 million new homes by 2030.

He said: "Adopting French-style regulations would seriously undermine house-building efforts in the house-building efforts in the UK.

"Above all, it highlights once again the recklessness of Labour’s unrealistic net-zero targets. This must not go ahead."

Ministers in France have already begun to backtrack on the green scheme, with tougher restrictions scheduled for 2028, being reviewed.

Hollinrake warned against this approach, suggesting it will hinder the Deputy Prime Minister's uphill battle to fulfil Labour’s manifesto promise to build 1.5 million new homes by 2030.

He said: "Adopting French-style regulations would seriously undermine house-building efforts in the UK.

Valérie Létard, the French housing minister, said that to "allow for faster projects", there was a need to find a better "balance of standards".

She added: "Urban planning and housing must serve our citizens and not be a source of administrative bottlenecks or a drop in purchasing power."

A leading consulting firm, BCG, supported claims that the regulations had sparked "a dramatic effect on construction costs and property values".

“As a result, the cost of constructing a new building has risen by an estimated 10-20 per cent, significantly slowing demand."

Despite the criticisms, Ed Miliband and Angela Rayner’s departments have confirmed that they are looking at mirroring these tight rules in the UK.

It is the latest development in Miliband's push for extreme action against climate change in Britain.

Angela Rayner has said that there is "no excuse" not to meet her goal of 1.5 million new homes, with Sir Keir Starmer doubling down on the pledge.

Estimates from the Office for Budget Responsibility (OBR) suggest the Government will fail to reach its targets even without net-zero restrictions.

Only a million new homes are expected to be built in England, it's understood, according to the OBR figures.

Whether this warrants a 3-3.8% sector drop?

Had mine too. Foreign withholding tax was only 18.99%. Bonus (that’s sarcasm btw)

Good afternoon Couerdelion,

I do hope you are well and having a great weekend.

I must admit, I do usually paste the question I’m responding to, although, for whatever reason, on this particular occasion, I didn’t.That question,asked by shepster being this,

why does the impact of buybacks of large amounts of shares not impact on, and increase, the share price, i am baffled as to why this would not, in fact they have gone down this week as a result???????,

My response had nothing to do with whether I believe the buyback policy is good, or bad practice, but merely to highlight how small, buying and cancelling 6 million shares is, over a week,when there are 5.77b shares in issue.

The 0.104%,I had hoped would highlight that point well enough, by showing, all things being equal, it would only shift the SP by 0.26p. With the SP ranging over the week, between 251.9p and 257.1p, hopefully, it’s shows, how easy it is for the SP to fall, even with repurchasing the shares mentioned, just by market movements.Hope that clears things up for yourself, and also shepster?

I sincerely hope that LGen’s buyback policy proves to be effective. Even half as successful as the one the Prudential is currently going through appears to be, would be great! A brilliant example of what can be achieved if carried out at the most opportune time. I estimate, by the conclusion of their buyback, they’ll have repurchased 7.5% of the shares in issue, with 75% of the programme completed at an average buyback price of £7, so far, and that’s before the benefit of the $ to £ conversion rate being taken into account (an additional 8.7million shares by my reckoning against todays $to£ rates) all In 18 months. The PRU, appear to have played a ‘blinder’, to me at least. Let’s hope L&G can produce something that has a similar effect, although, for me at least, it’s a big ask.

Enjoy the weather

Totally agree with you Shengis, profits off shore and then what happens when they’ve made a mess just like Jingye, the British tax payer to the rescue. A fail safe plan.

Last one!

1st tranche ($700m) average exchange rate was $1.308

2nd tranche ($800m) aer was $1.295.

So, I think, if my heads straight, they’ve had £60.85m extra, or, on the average buy price (£7),an extra 8.7 million shares, compared to today’s rates. Part three looks like the runt of the litter.

Glad they went heavy at the start, great prices, great rates! Nice one PRU.

Have a good weekend folks

Just checked something else. If they still announce $500m remaining in the final ‘piece’ of the puzzle, I think they’ve made an additional 4.17% on currency exchanges. By my calcs, and converting $2b, today, they should have used up 79.17% of the original spend. It’s all a bit early for this tho!

Let’s see if the imminent third tranche is for $500m, if so, happy days (I think!)

That’s the second tranche of shares completed. 75% of the total amount allotted to the entire scheme. Around 164.6m shares purchased in total at an average of £7 bang on the nose. Sounds good business to me, what with the share price where it now is

In the grand scheme of things, it’s not a large amount. Taking the last week as an example, they’ve repurchased 6 million shares, or there abouts, yes?

With 5.77 billion shares in issue, the cancellation of those 6 million shares will make a difference of about a quarter of a pence, to the SP, all things remaining equal, or 0.104% of shares in issue, being cancelled. Tiny amounts really when looked at on a weekly basis.You really need to look at the buyback as a whole case scenario kind of thing. Shares cancelled, the effect on the SP, also dividend payments saved. I believe we’ve been down this route here before. You can use the 0.104% to check the figures.

6m (shares bought back last week) / 0.104%= 5.769b (shares in issue)

252p (SP) + 0.104%= 252.26p

Return 64% of its market cap to investors in the next 5 years

That £10 billion btw!