Member Info for longtimeinvestor

Flec

BTW I am not being diluted - i am taking up my full rights, - in addition I purchased more shares last week. It is a stock market, for INVESTMENT. I will be investing a further £xx,xxx purchasing further shares at 645p

Flec

you really are disrupting this NG board with your non NG attention seeking posts/

''If as you say AHO was planning to have a big buyback program, why would he have been able to do it without sacrificing dividend payouts?''

again - are you for real?

The 2018 programme was initiated with a £1.75 Billion spend.

Nunn restarted at a little more - £2 Billion, which has since remained flat.

Was you aware of a global pandemic in 2020, when there had to be a reset.

Nunn set in place a progressive dividend policy, and with £2 Billion repurchase programmes being conducted since at much lower price levels than pre pandemic, this will be of great benefit to long term shareholders, which will include eventual dividend returns at a higher level than would otherwise have been the case.

''Although it's true I haven't researched NG's long term plans''

yes you are clueless

''it doesn't change the fact they're having to dispose of assets and dilute shareholders to pay for the Grid upgrades''

How many more times? - They DO NOT have to sell businesses. They have been getting out of gas for quite a while now. They what a streamlined transmissions network business.

Don't make me have to say this to you yet again,otherwise it would suggest you have dementia problems.

'' that's just me speculating.''

yes clueless - a number of new transmission networks will be put in place.

''Truthfully I have no idea how well NG will do in executing its plans''

It is of no concern to you as a non shareholder

Sc

''number of existing shares trading on the open market is still far to high ''

The number of shares that make up any businesses share capital is irrelevant .

What matters in a share repurchase programme for cancellation is the reduction in share capital, for the longer term benefit of shareholders retaining their shares - obviously better conducted when buying at cheap valuations, as has been the case with Lloyds.

A1

''it could take 10 or 20 years to reduce the share count by say 50%''

As I have already stated - without buybacks there would be 76,651,704,843 shares as opposed

to the latest RNS release figure of 62,883,084,950.

I imagine that there is no policy to reduce the share count to a certain figure - as I have pointed out, a share count is irrelevant. The current policy to prioritise buybacks is a good one whilst representing good value for money. I'm not sure that it would be policy if the market cap was at £80 Billion with current profitability as opposed to the current about £35 Billion.

A reduction in share capital of between 5 and 6% as a result of a £2 Billion buyback programme would be more than satisfactory.

Flec

''relies on the regulators being friendly in my opinion''

are you for real - the regulators/government wanted the investment. Pricing levels have already been agreed between NG anf Ofgem - RIIO-ED2, the name of the price control arrangements, stands for "Revenue = Incentives + Innovation + Outputs for electricity distribution.

Flec

Not only have you come on here as a non shareholder to de ramp, and then go on to give BT as an alternative investment, you have now gone furthe getting Lloyds bank into your attention seeking posts.

''rather than following AHO's policy of only doing buybacks to cover block listings''

what ?? - clueless

In 2017 Lloyds shareholders gave permission under a resolution to purchase back up to

7,154,088,636 shares and in 2018 permission for the purchase of 7,219,629,615 shares

with the sole aim of reducing shareholder equity.

These permissions were acted on with the buybacks starting early part of 2018 and 2019 respectively. The 2019 buyback was cut short due to further unexpected PPI.

Covid 19 put paid to 2020 and 2021 buybacks.

Under new leadership the buyback policy initiated by AHO (when PPI payments were nearing an end and therefore affordable) resumed in 2022.

Hu

''But A1's posts at a glance give an insight into the long term trend of the share count which is useful for gauging the effectiveness of buyback's over the years. ''

Historical share count trends can be found very quickly for anyone interested at any time they wish - a regular long list on here is not necessary in my view, and in any case I believe that all but the most stupid would know that the trend is down when buybacks are a policy and in operation.

Also the figures do not gauge the direct effectiveness of buyback programmes.

The effectiveness of the buybacks can be found in posts that I make when necessary.

historical share counts

https://www.statista.com/statistics/474455/uk-lloyds-banking-group-number-of-shares-in-issue/

Without buybacks there would be 76,651,704,843 shares in issues having bought back so far a total of 13,768,619,893

''others would have to trawl back through all the RNS's individually to collate the figures.''

??

A1

''Total Voting Rights''

again why?

The figure is shown every month on an RNS.

Bloom

''COVID is like flu''

go fcuk yourself

NC

The changing of share ownership from A to B obviously involves a buyer and a seller, but the transaction is attempted to be labelled by the market as a 'buy' or 'sell' going on the price at which the shares changed hands at

Flec

''They're selling assets because ''

They plan to sell businesses at sometime in the future to streamline the business to concentrate on transmission networks.

Flec

NG will continue with the issuance of senior debt and will maintain a good credit rating.

They plan to sell businesses at sometime in the future to streamline the business to concentrate on transmission networks.

I think enough is enough from you Flec

Flec

''clearly their debt is too high''

wrong again.

NG will continue with the issuance of senior debt and will maintain a good credit rating.

They plan to sell businesses at sometime in the future to streamline the business to concentrate on transmission networks.

Flec

''is disposing of assets because it's current debt position is too high''

wrong again - they plan to sell businesses to streamline the business to concentrate on transmission networks.

''There's no guarantee that NG's £60bn worth of capex will significantly grow revenue''

wrong again - the more electricity that passes through NG's network the higher the revenue. Electricity generation is expected to explode in the coming years.

''All I'm saying is that BT is no riskier an investment''

This is a National Grid board - I am sure that anyone on here is quite capable to make up their own mind about BT.

So you come on here de ramping NG where you have not invested a single penny, and at the same time giving BT as an alternative investment - a stock that you have invested a lot of money in and are underwater.

People quite rightly would question your motives for being here wouldn't they.

Comparing BT and NG is completely ludicrous - any sensible investor would know that

Without buybacks there would be 76,645,156,337 shares in issues

Bert

''Anyone think of another anagram?''

A ruin shinbone

Nil paid rights currently up 26% today -just to counteract someone mentioning the price on the way down.

Talk

''leading the way with a greater focus on renewables''

??

That would be the generators of electricity.

NG will greatly benefit from this renewable energy waiting to be plugged into the Grid to accommodate the expected big increase in electricity consumption because of things like increased use of EV's (I am not personally interested) and artificial Intelligence etc.

Flec

comparing BT and NG is completely ludicrous - any sensible investor would know that

Suf

''I was only looking to buy in around the Rights issue prices ''

There was a reason why the rights issue had been fully underwritten at 645p.

''at todays price 866p I see no Capital gains for new investors''

others of course would have another opinion

Flec

this is a NG board and not one to go into details about BT.

I am not sure that you as a non shareholder have had any benefit for shareholders with your numerous de ramping posts

The technicalities that put downward pressure on the NG share price hopefully are now easing, but it has created a good buying opportunity.