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I have to disagree, Bangladesh is very close to the water table and suffers from flooding more than most countries and using copious amounts of coal isn't going to help that, i also think that international money markets will steer clear of coal mines even more than they do now. Most UK banks no longer invest in such schemes although i admit there are plenty others who will.
As long as the current government stay in control, this mine isn't going to happen and last time i looked there isn't any opposition any more.
I think this company is a value trap and will simply haemorrhage money as the share price ebbs away to nothing. I hope they don't give a dividend of any type and instead put the money into making tv commercials that aren't as rubbish, redesign the company structure, sack 30% of the workforce and get back to basics. Most people buy on line, all my hifi for the past 30 years came from richer sounds, TV's checked against What Hi-Fi winners and bought from the cheapest place going. This type of shop is a dinosaur as i can get everything delivered tomorrow from Amazon for less, so what's the USP this company has, i don't think it has one any more.
I hope beyond hope to be proved wrong, i don't like loosing £3k but I cant see it turning around anytime soon.
Fusion98
Despite some peoples take, its not your choice its HMRC. They stipulate that the payments were NOT return of capital which was classed as income (income tax) but dividend which comes under Capital Gains Tax. My cost values have been amended to reflect this change and my tax implications have changed also. Those who think that tax doesn't apply to them should note ALL transactions are reported to HMRC and they take about 3 years to catch up with you.
All the best
Fusion98
We have received an important announcement regarding a change in the tax treatment of distributions to your holdings in Glencore plc. If you hold Glencore shares in an ISA or SIPP, this is for informational purposes only and will not have any tax consequences for you.
Since 2011, Glencore plc has been making distributions to its shareholders from its share premium account. As a Swiss domiciled company, these payments have been exempt from Swiss withholding tax. In accordance with the guidance provided by Glencore and the market's prevailing classification at the time, we have categorised the distributions from Glencore to you as a return of capital and not a dividend payment.
We have been informed of a case in which HMRC assessed payments from Glencore as income for UK tax purposes, rather than capital, affecting UK shareholders.
This assessment was appealed to the First-tier Tribunal Tax Chamber (FTT), which ruled that the payments should be considered dividends of an income nature, leading to the dismissal of the appeal.
As a result of the FTT's decision, we will classify future distributions from Glencore as dividend payments. As a result of the FTT's decision, we will classify future distributions from Glencore as dividend payments. This applies to the recent payments made on 22 September 2023, to holders as of 30 August 2023, and the payment made on 1 June 2023, to holders as of 5 May 2023. As such, we will now reverse and repost these payments as a dividend.
We are aware that this case is undergoing further appeal to the Upper Tribunal, and we will reassess the situation based on the outcome. The appeal is expected later this year, though the publication of a judgment might take some time. Any decision regarding the reclassification of historical payments will also be made after this point.
If you would like to read the full judgement, please copy and paste the link below into your web browser:
https://financeandtax.decisions.tribunals.gov.uk/judgmentfiles/j12414/TC 08460.pdf
If you are unsure of how this affects you and what need you need to do, please check with an independent tax adviser. This message is not personal advice and is a summary of the announcement by HRMC.
IMPORTANT NOTE - If you have any questions or queries regarding this information, please send us a secure message and ensure you quote the following in the Subject field: DIVIDEND - Glencore plc - 9813082
Updated: 10/11/23
Held these for a too long and bought way too high so i have written them off. The company has changed names, sold companies it holds, spined off others and stopped the dividend payment. While i agree with all those moves the company hasn't fixed the underlying issues that caused them and don't blame the economy because people haven't stopped buying iPhones or laptops in the last 12 years. I don't recall who agreed to buy Carphone Warehouse for stupid money just as the 3rd party sales market was imploding but they need to be impaled.
Mike Ashley's lots is buying a stake to see if he can be 1st in line should the company go bust or buy it at a distressed rate to turn it around. Currys should take them on as consultants to turn the company round, cut costs, re-write employment contracts and renegotiate contracts on buildings and rent. They are still haemorrhaging money and if you go into any store its usually empty of customers. Sack the management team and start again please.
So BT attempted to by SKY by buying football rights. A large fortune and a failed venture later the new CEO sells this stupid idea. Now BT thinks its Currys and is going to sell electrics. Where Comet, Big Buy and many others failed BT seems to think it can do a better job.. I doubt it, they cant even perform as a communications company better than their piers. If BT was split from OpenReach when it went private i doubt it would exist today.
Decide what your company does and do it well, this is a very expensive distraction.
Fusion98
Ahem
what the price today please?
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Buy all the time at 145?
When was the last time Barclays was 145
Sell all the time at 162 - same again - how often does it reach that level.
Thank god your not on the board, do that and all the pension funds would drop Barclays like its hot forcing the share price to plumet. I trade Barclays all the time, buy around 145, sell around 162, rinse and repeat.
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ToffAppleton1 - If I were on the board, I would cancel all dividends
The previous price of 450 was due to covid and the UK being captive customers as Halfords was one of the few companies allowed to stay open, which in turn sold bikes in the thousands. That is no longer feasible and the value should not be taken as a possible take over price.
Personally i think anything over 300p will do me
Fusion98
Another underwater £1 by xmas lloyds supporter.
Go back to the lloyds board and pat each other on the back. Anyone short sighted enough to invest in the UK largest mortgage holder with rising arrears in mortgages needs their head examining.
As you were.
Fusion98
Translation
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Hi my name is Troajan, like the virus.
I've over stretched my puny funds into an aim oil explorer and like most idiots of get rich quick schemes i need more morons to throw money at this company so i can get out with my original stake.
Believe all the crap i send out because i am a qualified *********
quick, quick, quick, time is running out...
Troajan
Rubbish, last October Glen went from 440 to 500
Glen does better (as do most markets) from Oct to Feb
Coal is in demand over winter and Glen has a boat load of it.
I see they are trading Russian Copper... naughty naughty.
Fusion98