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DIVERSIFIED ENERGY COMPANY PLC - Tender Offer
Tender Offer.
Shareholders can tender their shares at a Tender Price per share equal to 105 percent of the Average Market Value (AMV) per share for the 5 business days prior to 27th March 2024.
If you elect to Tender your shares, you will be waiving the right to receive some, or all, of the announced Q323 Dividend.
Take no action and keep your Diversified Energy Company (Diversified) shares and receive the Q323 Dividend in full.
For more information about the Tender Offer and Q323 Dividend, please visit the Diversified website, www.div.energy/
You Have The Following Options:
1 Tender your holding of **** DIVERSIFIED EN CO ORD GBP0.20 shares.
If you elect to accept the Offer, your DIVERSIFIED EN CO ORD GBP0.20 shares will not be available for you to sell, unless this Tender lapses.
2 Tender part of your holding of **** DIVERSIFIED EN CO ORD GBP0.20 shares.
If you elect to accept the Offer, your DIVERSIFIED EN CO ORD GBP0.20 shares on which you have accepted the Offer will not be available for you to sell unless this Tender lapses.
I hold my shares in an ISA held by the Halifax.
In the Corporate Action notified tome this morning there are three options:
Do nothing
Tender my entire holding (no mention regarding dividend to be waived at all)
Tender a part of my holding and receive dividend on the untendered shares.
All tendered shares will be removed from my account until after the process is finished and any scaled back tendered shares will then be returned.
All tendered shares, potentially my entire holding, will be bought from me at the average price stated plus 5%.
This amount will then be available for me to do with as I wish including repurchasing the shares.
One aspect not covered is, apart from the exchange rate, will a deduction be made for the 15% withholding tax? If not then this is looking increasingly like an interesting situation.
Please note the scaling back is because the shares are not held by me, but by the Halifax under a nominee account and that may give rise to the scaling back situation which would affect all the Halifax holders equally.
For the avoidance of doubt the Halifax have already filled in the line with my entire holding making that aspect crystal clear.
Kestra Advisory Services LLC boosted its position in shares of Relx Plc (NYSE:RELX – Free Report) by 25.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,596 shares of the technology company’s stock after buying an additional 5,017 shares during the period. Kestra Advisory Services LLC’s holdings in Relx were worth $829,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RELX. Checchi Capital Advisers LLC increased its holdings in shares of Relx by 6.1% in the 3rd quarter. Checchi Capital Advisers LLC now owns 14,014 shares of the technology company’s stock valued at $472,000 after acquiring an additional 807 shares during the period. Fiera Capital Corp raised its holdings in shares of Relx by 15.0% in the third quarter. Fiera Capital Corp now owns 18,934 shares of the technology company’s stock valued at $638,000 after buying an additional 2,468 shares during the last quarter. Ellevest Inc. boosted its stake in shares of Relx by 18.3% during the third quarter. Ellevest Inc. now owns 31,770 shares of the technology company’s stock worth $1,071,000 after buying an additional 4,908 shares during the period. Greenleaf Trust grew its holdings in shares of Relx by 5.5% during the third quarter. Greenleaf Trust now owns 12,820 shares of the technology company’s stock worth $432,000 after buying an additional 667 shares during the last quarter. Finally, Citigroup Inc. increased its position in Relx by 6.8% in the 3rd quarter. Citigroup Inc. now owns 24,962 shares of the technology company’s stock valued at $841,000 after acquiring an additional 1,581 shares during the period. Hedge funds and other institutional investors own 3.56% of the company’s stock.
For what it is worth, I took a strong disliking to Mz Black and dumped Aviva and bought here and Bloomsbury. I know investing should be more deep than that but can do without owning a share that creates its own headwinds.
Then there is the dividend. It generates regular as clockwork and consistently. It can be used to purchase additional shares and these are technically gifted, serving to lower the average purchase cost. Naturally the lower the share price, the more you get, or conversely less. These additional shares aggregate to generate more dividend the next time round repeating the process described. The effect may not be immediately obvious but when owned for several years should appear quite significant.
Naturally dividends can be used in other ways and if not reinvested will have left behind a share price that has been on a downward trend making for disgruntled shareholders.
I know this is oversimplified but this is my intention to reinvest as mentioned and see an ever growing holding without spending any additional cash.
Not at all sure I can agree Chain about self-funding, not in the accepted sense. In the previous RNS I read that any proven increase in the company's ability to generate income would be used to ask for the debt ceiling to be lifted, this is not using the company's income but other people's, a different art form entirely.
It now seems we have a company that is capable of buying assets other people have developed and are maintaining and operating, and if they keep their eye on this ball there could be wealth generation going forward. Part of this strategy is the Slawson aspect with its delayed income stream seen before.
Everything thus far in the Paradox has been difficult, if I am being charitable. Whatever has been tried has been wrong. Maybe there is a hidden right path about to be discovered, but let us all hope there are no further wrong ones.
Maybe in an attempt to keep our humour up we were meant to be excited by the idea of crypto currency mining being bolted on. Staff identified and recruited but then laid off. Let us hope their contracts did not resemble those of bankers! Now we have another tantalising aspect in the production of laughing gas, or sorry I obviously meant Helium which will literally send out company stock sky high, and it is a really proven technology and guaranteed to be in our clutches, so nothing can go wrong there can it?
So I see a company of two halves, something that is cash generating financing something that is not. I am not the happiest shareholder right now, and my views are my own and so eagerly awaiting positive vibes, which just never seem to arrive
'Although June’s £3.15m (gross) fund-raising perhaps served to highlight the present sensitivity of Zephyr’s balance
sheet to any surprise additional costings and/or delays'
Succinctly put as the stated cash reserves at 5th September stand at $3.5m.
Methinks the board will be applying to go on stage after this as jugglers
At the AGM CH will likely be given shareholders' approval to issue a third as many shares as are already in issue by way of a Rights Issue etc. Given how successful the last one was we have the right to question whether dilution will end up negating the increase in value we all believe to be there.
This is a discussion board and questioning comments should not be read as negative. I have never held shares in a company with such a huge mandate and hope any such action will only be beneficial to us.
It is unfortunate indeed to have the in-house and fully paid advisor issue a research note that commences with the assertion that 4p is fair value for where the company now is but when certain events happen the price should escalate. God help us if we see an independent note.