Member Info for eccles04

Until I retired as chief accountant of a much larger oufit than BMN, we regularly produced half year results in three weeks and that was 20 years ago. Any finance man who can't do the same these days needs to find another job.

I confess to a "having a laugh" occasionally but I may not be that wide of the mark as they seemed to have an awful lot of cash on the half year balance sheet and for what? - Only just over half of it was used to pay out the special.

8p

I see the stupid day traders couldn't resist and some got their fingers burnt - they never seem to want to do their homework properly LOL.

Verbum sapienti sat est: Every so often the "market" which includes a quite a number of half wits decides to sell perfectly good investments for no logical reason.We now have such a time set before us.

I am now beginning to wonder whether there might be another special or perhaps "large"interim next month:- We know that the 8.5p mainly came from the "capital reduction" or disappearence of the share premium account but with the excellent half year results, there may be even more loose cash floating around unless they are thinking of an acquisition - AJB perhaps LOL.

Royc; Why were you expecting a 3rd quarter div this week, there was none in July last year, although there was one in August according to their website.

Phyl:-"Which means they will now be included in EPS calculations now that they have been purchased. Also these shares will now receive a dividend, which did not happen when they were in the treasury?" Absolutely right Phyl but it wont make much difference because they are only about 2% of the total share capital.

"SETS might match your order up with several sellers who want to sell fewer shares, or take a portion of the shares that a larger seller wishes to dispose of." which is exactly what market makers do init?

@Throne:-Usually middle of August but not yet announced of course

Went to investo as suggested - not a very good explanation as usual from them. Got this from Thompson's Practical Law which is much clearer: "That part of shareholders' funds (shown separately on the balance sheet) formed of the premium paid for new shares above their nominal value. It is a statutory reserve which forms part of a company's non-distributable reserves.
The provisions relating to the share premium account are set out in section 610 of the Companies Act 2006. Subject to the companies articles, the share premium account may be:

Used to pay up new shares to be allotted to members as fully paid bonus shares.
Reduced (or cancelled) by means of a reduction of capital. In accordance with article 3 of the Companies (Reduction of Share Capital) Order (SI 2008/1915), the reserve created on such reduction can be treated as a realised profit and, therefore, it may be distributed to shareholders or used to buy back shares."

Hey Rudolph, No disrespect but I can't believe that releasing around 800k shares back to the market out of perhaps 20m not held by the family (about 4%) is going to make much difference to the market liquidity. The share premium was effectively the profit the company made from buying it's own shares on the cheap from time to time but according to the rules it can't be distributed without the court's permission to release it back to general reserves.

Hi Dukey, Not a lot wrong with "all eggs in one basket", after all that is what most many small business owners do. Also consider this:- In 1986 you could have bought a pile of Microsoft shares for just 7 cents each. Today you could sell them for $2.82 which works out at something over 100% per annum and you would be hard pressed to find any "baskets" which have done similarly over the last 35 years.

Usless results but then what did you expect?

Could be right their Pete, pubs used to do well from old farts like me with money to spend from fat pensions but a lot of them have gone a bit mental from the covid fearmongering and won't even go past the front door. Went to see an old friend a while back who used to be a normal human being but asked me to leave as soon as I entered the front gate because he is now frightened out of his wits.

leas:- never said a truer word and that is why the 10% of punters who have good strategies and understand finance invariably become rich whereas the the rest are taken advantage of all the time and mainly don't even realise that they are being shafted. I few weeks ago I had a brief conversation with a strange individual who did not even understand profit measurement properly. I seriously tried to get it into his head but had to give up in the end.

My thoughts are no chance with their recent track record and the continued growth of the discounters. I mean the SP has not even approached £3 in the last three years.

Well there ya go brynmax, you just re-iterated one of Warren Buffet's maxims: If you can find a stock at a good price which consistently produces good results, buy it and keep it. I understand that he bought Coca-Cola many years ago and kept adding more, he is now the largest shareholder. I have added to my LGEN holding at low prices twice in last year or so and will probably do so again.

Thanks for the education seen_it but SETS must still be a market maker albeit operated by the London Stock Exchange or else one would not see a "spread" of the share prices the result of which goes into their coffers.

Then again ongoing fluctuations in the share price of any company should not be the main concern of any investor; they happen all the time and always will. I certainly do not get into a tiz as so many do when my investment loses value this week compared to last week. Rather I always want to know whether the BOD are consistently managing to increase the wealth of the business and thus my wealth too. As Warren Buffet says don't buy into a business unless you believe it will be good for you for at least ten years.