Sapan Gai, CCO at Sovereign Metals, discusses their superior graphite test results. Watch the video here.
That is not right. It may trade 3.20/3.30 from the 16th to the close of business just before consolidation. On market open after consolidation it will be whatever the price ends up at during that period (lets say £3.25 ) divided by 0.76 ( i.e. £4.276) but for only 0.76 whatever shares you were holding - so, the same value. What is interesting is whether those who have access to cash in that period before the B shares are redeemed take advantage of that gap. I certainly will if there are any arbitrage opportunities.
Read this from wikipedia:, because the upshot is that you still have to have purchased and held the stock at close of business by the close of business on the last trading day before the ex-dividend date:
The ex-dividend date, also known as the reinvestment date, is an investment term involving the timing of payment of dividends on stocks of corporations, income trusts, and other financial holdings, both publicly and privately held. The ex-date or ex-dividend date represents the date on or after which a security is traded without a previously declared dividend or distribution.[1] Usually, but not necessarily, the opening price is the last closing price less the dividend amount.[2]
A person purchasing a stock before its ex-dividend date, and holding the position before the market opens on the ex-dividend date, is entitled to the dividend. A person purchasing a stock on its ex-dividend date or after will not receive the current dividend payment.
To determine the ultimate eligibility of a dividend or distribution, the record date, not the ex-date, is relevant. Each shareholder entered in the shareholders' register at the record date is entitled to a dividend.[3] Usually, the person owning the stock at the end of the trading day one business day before the ex-date is also the person registered in the shareholders register on the record date, because companies set the ex-date and record date of the dividend in line with the settlement cycle of the security. Most developed financial markets such as the USA, UK, Germany, France, etc. use a settlement cycle of T+2 for stocks.[4] As a result, companies in these markets set the ex-date one day before the record date of the dividend (example: ex-date Wednesday, record date Thursday: a security purchased on Tuesday will settle on Thursday; a person who bought the security on Tuesday bought one day before the ex-date and will be registered as shareholder on Thursday and hence be entitled to the dividend).
The record for dividend entitlement is taken first thing before market open on ex-div date, therefor if you sold before then, even in the after-market auction, you will not be entitled to the dividend. Following the auction activity it is clear that some punters may have taken poor advice.
Since this drug will be able to work across variants (which will keep cropping up), the importance for patients and for revenue earning is, I think, being completely underestimated, as the world comes round to "living with the problem" for years to come
What this dividend move has done is to make it possible to get cheap debt funding available for funding future growth and development, which would not have been possible if the lenders of such debt thought it was going to be ****ed away in unrealistic high dividends. Also the possible use of a rights issue seems to be off the table.
I must admit that I reduced my exposure here when the Morrison bounce happened because the danger is that if the bid fails the sector will no longer be in play and the bounce gains will vanish, and some!
https://www.ft.com/content/59d76a4b-436e-4bb8-9d4d-211bc920842a
from another poster on ADVFN:
Looking at the recent accounts it struck me that the cash generated to the group was almost entirely out of the core holdings UK and Canada. If we agree cash is king then selling off all those other assets was a no brainer.
MILAN: Italian insurer Generali has nudged up its bid for Aviva's Polish arm, valuing the business at almost 2.5 billion euros ($3 billion), in a last-ditch effort to prevail over Dutch insurer NN, two sources familiar with the matter told Reuters.
London-listed insurer Aviva received three binding bids on March 22 for its Polish operations, with NN submitting the highest offer, which valued the unit at about 2.5 billion euros, the sources said, speaking on condition of anonymity.
German insurer Allianz and Generali - which have existing operations in Poland - were given a final chance this week to improve their bids, the sources added.
Aviva is expected to enter exclusive talks with one of the three bidders in the coming days, they said.
A spokesperson for Aviva said the British insurer was exploring options for Poland but no decision had been made.
Generali, NN and Allianz declined to comment.
Aviva is the second largest life insurer in Poland after state-owned PZU and the tenth biggest provider of general insurance in the country. Its Polish business also includes two key bancassurance partnerships with Santander and ING.
Generali initially valued the Polish business at just over 2 billion euros only to sweeten its bid on March 24, offering close to 2.5 billion euros, the sources said.
NN has offered about 2.5 billion euros, the sources said.
Aviva, whose boss Amanda Blanc is about to complete an ambitious asset divestment programme in Europe, wanted to take advantage of the competitive environment and has given the three bidders an opportunity to make their final offers this week.
For Generali, the deal would serve as a springboard to Poland - a market seen by boss Philippe Donnet as core to the company's expansion, with the Italian insurer recently saying it would consider any growth opportunity there.
"Aviva is the real winner in this auction as the price is going through the roof," one of the sources said, adding bidders were battling to grow their influence across central and eastern Europe.
Panmure Gordon analysts initially estimated the sale of Aviva's remaining European assets in Poland and Italy would be worth 2.1 billion pounds ($2.9 billion) overall.
Aviva sold its life insurance businesses in Italy to France's CNP Assurances for 543 million euros on March 4.
It also pocketed 3.2 billion euros from the sale of its French operations to Macif's Aéma Groupe in February and an additional 122 million pounds from flipping its 40% stake in a joint venture in Turkey to Ageas Insurance International.