Member Info for Davidspellacy

Squeaky.

"For Qualifying Shareholders who would like to waive some or all of their Entitlement in consideration for the ability to tender their Shares in the Tender Offer, Stifel WILL PURCHASE SUCH SHARES at the Tender Price up to the amount of the waived Entitlement for each Qualifying Shareholder on the terms and subject to the conditions set out in this Circular...

As it says on the tin ‘waive the right to the entitlement’ ( divi) nothing more nothing less. There’s no mention of purchasing your share holding, though they could have clarified it better by saying something along the lines of “ shares will be purchased to the value of your entitlement “.

I reiterate that your original holding does not change

Jun man.

The company aren’t buying shares off shareholders, they are being bought from the broker by the company. The company will buy as your example 1 share from the broker, cancel that share, pay the average cost of that one share plus 5%.

Just to add , no shareholder will ever own the shares bought as part of the tender offer, they will only receive the monies from the sale of these shares.

Schoolboy error mixing £ and $ but that equates to just over $39m leaving the remaining 3m to cover the 5%.

You will always have your original holding as you’ve only waived the right to the divi for so many shares nothing more.

Axe.

Got me looking at what monies are actually up for grabs.

There’s a lot of talk about the £42m pot but I don’t think it’s been mentioned before is the total dividend to be allocated for 47m shares at 68p is £31,960,000, that’s what would be spent in total on repurchasing shares with a 100% take up of the offer, not £42m. The company will return monies from sold shares +5%, I can’t see this costing the company more than £2m which would leave a surplus of maybe £8m

Wednesday.

My example was a scenario of how the offer works nothing more, how many take up the offer is unknown, though I think you can pretty much guarantee that the take up won’t be 100%, I would hazard a guess at maybe 10%.

You seem to forget there are 47m shares in issue and a 100% take up of the offer would for arguments sake take 4m off the market, plenty of shares to buy.

If you read my previous post clearly you will see that I can’t provide an answer regarding the 5%, only the company knows how it’s to be accounted for.

I did have a think about the 5.00% but can’t think of an easy answer , maybe a reduction of fees from the broker carrying out the transactions or something similar

Simple example of how this is going to work.

You own 1000 shares and tender them all.

You give up the right to £680 at 68p/ share.

The company will then purchase 68 shares on the open market to the value of £680 at say £10.

Following the sale of the shares the company will pay you £10 + 5% giving a return of £714 and the 68 shares will be cancelled.

The important thing is that after the tender is complete you still own the original 1000 shares.

That’s my take on it.

The allocation for the current share buyback programme is £97m , looking at the first buyback up until Nov there were 17m ish shares bought back , at est average price of 80p, £13.6 m, I cant be bothered to dig deeper but on the low side I reckon at least £50m left over

Go and find yourself a nice Palestinian board to post on

By then we will know whether the board are going to raise the divi.

Works both ways

Broomtree.

I get live price from link below

https://uk.finance.yahoo.com/quote/DEC/

Broomtree , I’ve just looked and it’s down 6.4%, what site are you getting it from

You muppet , you killed the HE1 bb with constant ramping, rumour has you’ve been banned, no surprise there. I was surprised you turned up on a ftse 250 company, did you get your first pair of long trousers and get promoted from AIM

1% , are you sure?

Why pick on this particular poster ? Everyone posting on this board is a moron. Why single him out in particular ?

Everyone including yourself then🤔….😂😂

Give it a rest, we all have the capabilty of seeing what the price is without you constantly letting us all know, HE1 all over again.

Correction - 1-2 %

A more realistic figure would be 500k -1m shares purchased under the tender option ,0.5 -2.00 ish . If it successful in the eyes of the company ,this will be repeated. The added bonus is that they wouldn’t need a share buyback programme, moneys can be spent elsewhere

Read the circular, there is a line about contacting crest

I don’t think you’ll hear from HL, forms are being posted for the tender offer or you can download from the website. Maybe contact HL and ask