The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Sorry no, but something rings a bell, still looking!
Does anyone recollect the French sector not being interested in NCYT's products?
Did Nova not say they were transitioning away from Covid in their last reporting?
Could that be why they couldn't renegotiate the deferred hedge for Q1 23? There is no extra flow coming
Hams and all. Now that's an interesting quandary to mull over, volume governed by what grid wants! How does that equate when you have to meet a hedge requirement to pay down a financial commitment? So many variables for flow rates.
Thank you, Ocelot. Wow what a comprehensive set of documents, cheers.
Was this published or is that info confidential to the parties involved?
......the low absolute share price, negatively affects investors' perception of the Company and considers the Consolidation to be in the best interests of the Company and its shareholders.
That's working well, then. My holding now valued at 33% less than the day before consolidation so all that blah blah blah above was effectively pump. Ft Forecast for 12mnths 1.9 PENCE
Can some one start a new thread cos i must be boring you to death by now
M91 - I think your comment 'Aviva forcing a huge share buy back continuation' sums up their proposal but i feel the initial consolidation will not be to the pi benefit. Without choice I will have a 1000 shares removed from my holding and I'll be given £4000 plus 8p Y22 divi increase. Come the day, to get your share holding back to its original level you could well end up out of pocket especially if the price moves back up to 445.
Yes just been through one with Saruem 19% loss on consolidation!
I am going to have another go at this because I see no benefit to me as the shareholder with regards to
'The return of funds to the shareholder' on the given day. As you say if you have 100 shares you get £100
However you now only have 75 shares ( as a result of consolidation ) Lets assume that pre / post consolidation SP is £4 )
The reduction of your holding by 25 shares @ £4 is equivalent to the £100 'return of funds to shareholder so you have gained nothing.
Furthermore let's add in the annual divi . Prior to consolidation FY22 would have had 100 shares x 31.5p but now you have 75 shares ( post consol) x 31.5p. And finally . As suggested, by some dyor etc, with that £100 in cash that you have in exchange for the 25 shares you had to give up you could repurchase some more shares . The only problem is the shares have now gone up and you have to pay charges on top . Lose lose?
Got it now your paragraph about this is not a special div has put all into perspective . I was under the impression that they were returning some of their cash to shareholders as a result of off grid sales of holdings abroad as a special.
Back of my soap box . Regards
If stability of share price, post consolidation, is the aim where is the gain for the shareholder after the 'return of funds .'
In the original posters case they will receive £500 in cash but as a result of that they will have 125 shares removed from their
original holding of 500 due to consolidation .
As an illustrative example, following the capital return and Share Consolidation, a Shareholder with a holding of 100 ordinary shares at the Record Time would receive cash of £100 via the B share scheme, and would have a remaining holding in Aviva of 75 shares.
What am I NOT getting here, in the above illustration ? They give me a hundred quid and take 25 of my shares back valued at £100 (basis £4 SP)
So, if they remove 125 of your shares, through the consolidation, the sp will need to consolidate at £5.33 otherwise the value of your holding will be worth less than it was originally. Let's assume £4 as an SP.
Pre consol: your 500 shares * £4 = £2000 value
Post consol : (your pre value of £2000) / 375 shares = £5.33
So in this example any SP less than £5.33 Post consol means that the overall value of your holding plus your return of funds, to share holders, may be less than what was first envisaged. I wait to be corrected if i'm missing something from the bigger picture.GLA
ABERY- Correct they just confirmed they don't release the in depth results
T2 - Agreed
Abery - Yes, as you say the tox results would have an affect on the SP. I was visualising (day dreaming ) a scenario where the egm vote was passed, positive tox results were released and then with the ensuing rise in sp a cash raise was put in place based on the new consolidated price and all before close of play. Then I woke up !
After the EGM could there be any reference to tox results or does this information have to be formalised through the issue of an RNS?