Member Info for KevHeff

and, as for those pesky Market Makers....

I know things may not be perfect.... but we haven't been relegated to AIM have we?

Key to Keras valuation is the holding we have in Calidus (CAI) mining in Australia. We are anticipating an announcement of resource from Calidus that should trigger an increase in Keras's shareholding in Calidus. I've not had a chance to investigate why, but Calidus SP fell 12% yesterday, which is not what we'd like to see..... I'll try to find out why this evening, but if anyone has any info I'd appreciate sharing. Kev

Dunkelman... WE are KERAS. So either we sell our own Calidus shares at a time/price to suit our individual circumstances (especially tax liabilities) or Keras does it for us, takes the costs out and pays a dividend at the same time for every shareholder. Realistically, there will be no significant Special Dividend to all shareholders (but Keras may offer that as an option alongside the issue of Calidus shares). Kev Kev

Re the "fag packet" calculation... yesterday's closing price for Calidus was 4c Kev

Sorry Markyess I can't help on the tax protection suide, I've always stuck to UK shares (I sold Vodafone before the Verizon shares were issued). MisterPositive, generally share distribution is preferable to Cash Dividends because it provides more options to the shareholder..... rather than just have income/profit when the dividend is paid, shareholders can manage to suit their own tax positions (income tax, capital gains)

Chesh, in specie shares shouldn't be too much of a problem for people (like me) with their shares in an ISA.... CAI shares would be issued and if your ISA provider would not hold them for you, they would give you the option of moving to another provider who is prepared to, or simply selling and putting the cash value into your ISA. Vodafone did a similar thing with their US Verizon holding a few years ago..... so shouldn't be anything new for the providers to handle (I know it was US not AUS). Kev

Chesh, selling shares doesn't reduce the pro-rata entitlement it just transfers it to the new holders. Kev

The "in specie" term means that the Calidus shares that Keras owned would be issued to Keras shareholders (divided pro-rata according to shareholding). That would leave a small residual value in Keras. If/when this happens, it will be announced giving sufficient notice to allow Keras shareholders who do not want to hold Calidus shares to sell (the SP will then more truly reflect the Calidus holding). Following the issue of Calidus shares, the board would have to consider whether or not Keras was still a going concern then either sell the remaining assets and distribute proceeds to shareholders or consolidate shares to allow a stable market. Kev

It's in black and white in the RNS:- Keras currently holds a 217.25m shares in Calidus, which will increase to 723.75m shares as and when Calidus meets certain exploration milestones. It is the intention of Keras to in-specie distribute these shares to Keras shareholders at the appropriate time when this is achieved Kev

Hiya chesh, if this does happen Keras would transfer its entire shareholding of Calidus to individual Keras shareholders. So we would end up with a number of shares in Calidus which we could then choose to hold or sell. We would also still have our Keras shares, although they would have a lower value. Kev

Last point from me... I bought Vodafone because of their Verizon holding, as I read a press article which spelled out the valuation differential that made buying their shares an easy decision with relatively low risk. Perhaps our situation will come to a wider audience at some point?

At current rates my 1million Keras would get 329821 (thanks gmcc) which would be worth �10K plus. Of course lots could happen, good or bad, that may change the figures but I think I will be sitting tight to see what happpens over the coming months. Good luck all Kev

Sorry Gucci should be "gmcc "

That's my reasoning Gucci. I held Vodafone at the time, but not an awful lot of shares. So I sold my Vodafone shares rather than working out how to deal with US shares - I would probably do the same here assuming I wouldn't lose too much v. Getting Calidus shares (and my Keras are in an isa too). Kev

This is basically what I was suggesting yesterday morning. Vodafone did something similar with their Verizon holding a few years ago. The calculation is simple - shareholders would be issued with Calidus shares in proportion to their shareholding in Keras. E.g if I hold 1 million Keras shares I would get 1/2195 x number of Calidus shares held by Keras Keras could continue to operate or just liquidate any assets and cease trading Kev

SAND shares are currently $4.06, so over £3 each. So your Cash plus shares will be around £25K. Maybe the Halifax cost is a calculation based on what you originally paid for MARL less the cash payment?

100.4 is a buy rather than a sell - so tight margins at the moment.