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found it. There appears to be 2 websites (unless one is for the Nigeria company)
https://lekoilplc.com/corporate-documents-article/notice-of-meeting-228
other website is lekoil.com
Anybody got access to the AGM document that has all the resolutions. I need to let HL know how I wish to vote on all of them. They don't appear to have it.
wow, what a letter.
1.9p is better than where this is at right now but I guess I'll never see the likes of what I paid (73 pence).
Need to get onto HL to tell them how to vote on resolutions for this AGM!
disappointing I didn't get a notification from HL to confirm either way - but I tendered all of mine and all were accepted. Overall I'm down by 27% as my average was 143.4 but I'm glad to be out.
answer to my own question found here
https://www.hl.co.uk/shares/corporate-actions/corporate_action_frequently_asked_questions
"Does Hargreaves Lansdown charge for administering corporate actions?
No, it is free to participate in corporate actions through Hargreaves Lansdown"
I only have a holding of 1035, averaged at £1.43. The £11.95 dealing fee is only worth about 1.15p/share for me. Think I'll be taking part in the offer. With so much uncertainty, other than 'we will have a share buy back and possibly issue a dividend', there's not much to go off
could be unique to HL but presumably, if taking up the Tender offer, there's no dealing fee to be paid?
Might make it more palatable for a small holding like mine
I'm averaged at 144p so a long way to go before I make anything on this. So I won't be selling.
I don't believe there was any promise of 41p/share. Just commentary on the equivalent.
What was declared was a return of £500m to shareholders. Nothing about how it would be returned, until of course yesterday. I know the typical expectation would be you get ~41p and you get to keep your shares. I can also see the political/media/PR fall out if this was all issued as Dividend (similar to if Water companies were to issue one right now with whats going on in Parliament)
So just follow the money and make sure they do somehow 'return' £500m. The value proposition might be in the cancellation of shares.
Great for anybody who bought sub £1 to be honest. As it's still at least a 5% increase - probably a lot more depending when you bought. Work it out annualised and you'll be pleased.
We know Coast Capital have committed to tendering all of theirs. That's c13% we know will be bought and should be cancelled. Add to that those that had bought at say 50-60p and were looking to cash out once doubled.
So I would hazard a guess of at least 15% of shares being taken out of circulation.
The difficulty is knowing what the market will price the share at once we know the effective cut-off date for eligibility.
find out soon enough I hope. I don't think any timeline has been suggested yet. Meanwhile the SP slips away
Let's just think this through...
Say I have a shareholding of 100 shares, valued at £90
So ex-div the market price is say 90p and they announce 100p offer.
Everybody agrees to take up the offer so the pot of £500mn has finished, no special dividend due.
The day after ex-div, as is the norm, share price drops by the dividend/premium amount. So drops to 80p.
A week later i get payout from FGP of 41 * 100p = £41.0
Say I use cash to immediately buy 41 (41% of my original holding) shares again at 80p on the market costing £32.80 - so they're back to same holding of 100 shares.
my 100 shares @ 80p... £80 plus £8.20 cash = £88.20
My math is wrong somewhere as it doesn't look appealing??
now if FGP were to cancel all the 500m shares they bought, that would pretty much double share price
So £500m divvied up equally against the 1.22bn shares in issue works out just over 40pence a share - before any costs.
My completely wild guess...
I think they would set a date as share price point, usually a few working days before the announcement, and what ever the closing/midmarket/average price was on that day. So say it was 90p/share. The £500m would only buy 555.5m shares or roughly halve of shares in issue - at that price.
They would offer a premium on that, let's say a modest 100p. That means they can only buy 500m shares, or 41% of shares in issue. I assume every holder will be able to sell 41% of their holding.
Some people would accept the offer, to sell up to 41% of their holding for premium £1
Those that don't, keep their holding and get a share of the remainder of the pot via special dividend.
The crucial thing here is will the share bought by the FGP be held in treasury or cancelled.
Big assumptions here and I could be well-off (not in the wealthy sense!)
I think when the capital return was first announced it worked out at 30p/share, so would it be President to expect a share buyback at ~120p?
I don't frequent this board often let alone post on it. Bought into REM back in 2014 I think, which I had sold when it was equivalent 90p but hey ho.
Anyway, over time averaged down to 45p share. Finally sold my holding of ~41k shares at 15.25p
I think this company or rather the holdings have potential.
I'm now looking at buying directly into BCN. Would prefer EMH but it's not available on 212.
Might buy back in to KDNC if it falls to 12p
Hope you all make good on this.
what on Earth is going on? I Rarely look at the SP as it's in doldrums for me but it was about 4p not that long ago right?
This is a welcome move in right direction but long way off from me breaking even. Quadruple this and I may just get my original investment back, almost.
For every 5 shares bought, RMG will give you 1 'Matching Share'. You can get upto 2 'Matching Shares per month. So basically you can buy 10 shares to get the maximum 2 free 'Matching Shares'
no minimum term commitment. Join anytime after mid August.
Shares are held in the SIP. I presume they are actual shares, with voting rights and dividends and just the ones being held in treasury
Not just China but he's also looking at building one in Europe too...
https://www.bloomberg.com/news/articles/2018-07-10/tesla-is-said-to-plan-china-plant-with-500-000-vehicle-capacity
wouldn't surprise me if they tried consolidating shares by say giving us 1 new share for every 10 current shares and cancelling the old shares in circulation/treasury. Thereby increasing the share price without affecting market cap. That's what it should've been based on, market cap rather than share price.
6 weeks after results announced it seems so Ex-div I would expect Thurs 28th June this year
either last Thursday of June or first Thursday of July.
We've missed QoS regulatory targets on both 1st and 2nd class, yet the share price continues to climb this morning. Either ppl out there in the City already know the financial results or it's going to drop like a stone next week.