Member Info for Fresian

Youve got to have extra deep pockets to want to go long on travel atm. The sector will be under pressure until a vaccine is available. About a year. During which time we may see more defaults.

Good morning all. First post on this board although holder since 2010!
The EA is a real milestone reached. Congratulations to the company and holders for their belief.
Good luck today.

I dont think you are being cynical... unless their sla says pmt 10 days, then they should pay immediately imo. Do you know who the registrar is?

Yes thats the plan. Have look here for the specifics. BR https://www.bzst.de/EN/Steuern_International/Kapitalertragsteuerentlastung/Auslaendische_Antragsteller/FAQ/KapSt_AuslAntragst_FAQ_node.html#faq24684

Not sure about that. My broker (HSBC) agreed to write a free format letter to me detailing my holding and tax paid. This should do away with nominee problem I think. Check with your provider and let me know. The German authorities don't care whether your holding is in an ISA or whatever, they take WHT in any case. ISA should be fine.

I received the below advice from the german tax contact for foreign investors. In summary, complete their form and get hmrc to confirm you are a uk resident. Return the form along with a certificate of tax from the dividend paying agent (I have approached Tui for this, but I suspect it is Deutche Bank AG who will have it). Oh, and a requirement is that youve held the shares 45 days prior to the pmt date. Dear Mr. Capital gains tax at 25% is charged on dividends and certain other investment income in Germany. Sales of participations or securities are not taxable for limited taxpayers.    If higher capital gains tax (including the solidarity supplement) than stipulated in the double taxation convention is charged in the deduction process, an application may be made for a refund of the difference.     Individuals and other non-capital companies can only apply for a refund of the capital gains tax.   The application must be made using the form > Claim for refund of German withholding taxes on dividends<. The tax authorities must certify that the applicant is resident in that country. The claim must be accompanied by a certificate of payment of the relevant German withholding tax (Kapitalertragsteuerbescheinigung).   The forms are available in German and English on http://www.bzst.de/EN/Home/home_node.html > International taxes > Capital gains tax relief > Requests From Abroad > Forms. The instructions are included in these files.   Please send the application completely filled and signed and a certificate of payment of the relevant German withholding tax to:   Bundeszentralamt für Steuern Referat St III 3 53221 Bonn Deutschland   I hope the information is helpful.

Makes me wonder why the exec saw fit to indicate 10% annual growth, only to knock it back later... creating a buying opportunity? Haha I jest. Im sure it was genuine, but hopefully they will lean more towards conservative optimism in future.

Yes thats my understanding. If you hold some of their GBP denominated shares and/or non resident in DE, they are obliged to apply appropriate treatment to your div at source (in this case 30.5% WHT). Whether or not your shares are in a tax efficient vehicle in another country is not their concern. Its up to you to establish with your tax office whether you should/shouldnt pay it. Then you may approach the german tax office with a claim. Best give HMRC a call. Best of luck.

Their revenues come from Q2 and Q3 when Europe goes on vacation. Looking back over previous reports its common to make a loss in Q4/Q1, but last year caught them out. Plenty of scope to have a good year and make it up imo.

TUI is a German domiciled company, that has a duel listing here. Divs to non residents of Germany (us) are taxed in Euro at source, witheld by the company to pay over to the german tax authorities. This is down to a dual tax treaty btw Germany and UK, but its based on a common OEDC model.

I believe it works in conjunction with this: https://www.gov.uk/tax-foreign-income/taxed-twice If Im right... big if...UK and Germany have a treaty rate of 15%. We will pay 30% on these divs. So 15% may be claimable.

Some advice on reclaiming WHT from Germany here. Thoughts? https://the-international-investor.com/investment-faq/reclaiming-withholding-tax-foreign-dividends

Q1 Summary • Q1 performance was in line with our expectations. Our product- focussed strategy and investment in unique hotel and cruise brands continues to pay off. • As flagged, this was offset by a weak performance in our Markets & Airlines business, where the seasonal loss increased significantly. This was primarily due to the knock-on impact of the Summer 2018 heatwave, overcapacities in Spain arising from the shift in demand to the Eastern Mediterranean, pressure on yields, continued Pound Sterling weakness, and strong comparatives for Nordics in Q1 last year. • The current year result also includes a net € 11 m benefit from special items, as stated below. Please refer to pages 6 to 10 below for further detail on segmental performance in Q1. • As detailed in our announcement on 6 February 2019, we expect underlying EBITA rebased at constant currency to be broadly stable in FY19 compared with the record performance in FY18 of € 1,177m1, with a continued strong performance in Holiday Experiences offset by a continuation of sector headwinds in Markets & Airlines. • Our growth strategy remains intact and TUI is well positioned.

Watch this fly when the Euro tanks

Agree. I read the release, which stated things will be the same and maybe not 10% growth as previously stated. It doesnt warrent a 20% drop imo. This is a concerted effort to shake the tree imo. GLA

Much of this is manipulation imo. The mm's see some news that leads to uncertainty or fear and then call their mates for a large short attack. I see this as positive, and I'm sure we will see 8 again soon, when copper moves up. Sit tight. One for the back pocket. Gla

I suspect it will bounce back quickly when the market digests a possible additional USD1 billion plus EBITDA, putting the sp over £15. Sell on news they say. Some will have done so and already bought back netting a quick 10%. Share issuance is about 5% so nay e we will end the day about there. Presentation at 11am.

Initial thoughts... Initial acquisition cost of USD 900 million is not as much as I feared, and is split between cash and shares and some deferred, so not as big an impact. 10 year development hard date gives some flexibility in project development spending, which is planned to be an eye watering USD5.5 billion. Mine production should generate additional 300kt of copper per year which should be worth over USD1 billion. I hope we see the touted copper supply deficit appear, as much rests on that to support higher prices which will make this more of a viable project. It looks good, but the same thought keeps bouncing around my mind, this is Russia, not Kazakhstan, and political issues could rear up. Let's see how the market reacts.

Probably not, but Rio will be eyeing the Siberian mine.

Looks like my earlier post got deleted? In any case, since people are making tips, you could do worse than check out RMP, as they have just signed a new contract in a fully funded JV drill in Alaska. Should be a multi bagger event trade. AtB