The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
I believe the previous increase in share price affected the buybacks, unable to buyback with a certain increase over a period of time...
But it's annoying they didn't make up for the missing days with increasing yesterday's buyback!! Ffs.
Seems they prefer to put a dent into the resolving credit facility (It Is DEC's most expensive interest incurring debt!) and deleverage currently, while potentially looking at other assets to aquire as always. $220m due in ABS notes this year too.
Wish we knew the details between the broker and DEC for the buybacks, but so would shorters! Lol.
I agree the buyback sucks.
But they also have to reduce the revolving credit facility down. The Fed is struggling to fight inflation and with Middle East uncertainty. Talk of the Fed not cutting rates, but increasing them further is starting to get louder. Bonds hitting YTD highs. Thankfully most debt is fixed.
I don't see how Halifax isn't pocketing the extra 15%.
I remember others with this issue in the past. Really needs a complaint to the Financial Ombudsman after complaining internal with Halifax if they aren't resolving it.
I expect to see new buyback scheme announced by the end of the week as Rusty spoke about such two weeks ago. Or the previous buybacks to start and maybe some director buys would be great to see.
Even more US investors will pile in. It is crazy the US buys vs UK, but guess the shorters are using UK only shares that UK holders use... They'll have to buy them back themselves at some point though :)
GLA
Totally right Andy.
DEC would previously fund new assets with debt at low rates and also a placings at around £1 (£20 current shares).
They are unable to both currently and with gas at such lows, these a lot of potential opportunities...
One interesting part in the interview with Rusty and Brad Gray on Dlrect0rs Talk after full year results.
Near the end of the interview, they talk about the big gas company mergers in the US that will require FTC approval, and FTC may require them to divest some assets, and DEC will look to acquire them.
Uncrossing trade unfortunately Richard.
But does seem something happened, maybe some directors being able to buy after a week grace period of full year results or they are using the previous buyback scheme and sent money to the broker.
From 36:18 on the Webcast
https://ir.div.energy/news-events/ir-calendar-events/detail/20240319-2023-final-results-earnings-call
Quick basic transcript I wrote out quickly lol...
Rusty “We want to be able to reallocate cash and be more strategic in the way we repurchase shares, you will probably see us put some type of share repurchase plan in place that will be, that I would call on the shelf would give our share repurchase programme over to our brokers and allow them in certain guidelines to buy shares on a daily basis and keep us out of restricted periods, here's the guidelines heres the framework go and buy as long as it falls in that. You will see us redeploy cash into that over the next several months.”
new video, maybe search
diversified energy company plc ceo and cfo discuss 2023 results, strategic acquisitions, and sustainability efforts (video)
i'm sure lse will ban the link
https://www.***************************/diversified-energy-company-plc-ceo-and-cfo-discuss-2023-results-strategic-acquisitions-and-sustainability-efforts-video/4121148334