Member Info for MikeM14

eccles04,
This was, however, originally announced (subject to approvals, etc) back in June (2020). The amount they're getting doesn't to me seem very large for the size of business(es) they're selling, but if they're getting rid of a loss-maker, and they're being paid in cash, I guess it's all to the good.
Mike.

Thanks Bertie.
Yes, I've been watching both TRIG and UKW (Greencoat) for a couple of months now and, although there are differences (TRIG has solar, and a bit of storage, whereas UKW is just windfarms, and TRIG has assets not just in the UK), their share price behaviours looked at over 2 or 3 years are remarkably similar. They go in large waves, with very little long-term increase in share price, with the share price gradually going up at the beginning of the wave, then suddenly falling as another fund-raise is announced, then repeat all over again. You get about 5% dividend (depending on exact price you buy), then put money back into it on each fund-raise, which gradually comes back to you again via the dividend, which depending on circumstances (eg whether you have the shares in an ISA) you risk having an income tax (dividend tax) liability on. I bought some UKW today for my ISA, but it could quite as easily have been TRIG. Maybe I'll end up with both, and hope that their price "waves" happen at different times!
All the best, Mike.

Hi Bertiethebarrel,
It probably means "subscription shares", which were your entitlement to subscribe to new shares in the company as it is raising more capital and existing shareholders are being given the opportunity to take part. The entitlement date was apparently 3 March, when you still had your shares.
It's all detailed in their announcement here (but you'll probably need half an hour to read and understand it all!):-
https://www.lse.co.uk/rns/TRIG/publication-of-a-prospectus-and-circular-yfxtwqbjohjr1sx.html
I don't currently have any TRIG shares, so didn't read the announcement in detail, but am considering investing and as a result am following their corporate developments reasonably closely.
Out of interest, and if you don't mind me asking, why did you sell yours?
Rgds, Mike.

Hi ValveMan,
I was "taken over" by ii a few years ago (previously I was with TDW/TDDI for many years) and - so far - have been happy with ii. The charging structure is very clear, corporate actions (such as the recent special dividend and share consolidation by Tesco) seem to be handled efficiently, and dividends are credited promptly (important for future planning of purchases). I'm also just in the throes of setting up my first Shares ISA with them, and that seems to be going to plan. They also do reduced dealing charges for "frequent traders", although I don't come in that category.
I hope that helps, and good luck with whatever you do. Mike.

No probs, Timydogy. Good luck with your tax return!
Rgds, Mike.

Windows345,
It's all described in the HMRC document that MaryBR190 provided a link to at 11:25 today further down this "thread". Note - it's 30 days, not 31 days! Presumably you each have your own CGT allowance.
Rgds, Mike.

Timydogy,
On my reading of the "30-day rule", on the transaction on 5 Mar 2021 in your example you have not made a gain in tax year 2020/2021, but a very large loss. The 10,000 shares you sold on 5 March , for proceeds of £19,990, have to be matched against the 10,000 you bought on 21 March, at a total cost of £30,160. So you made a loss of £10,170. If you've already exceeded your CGT allowance for this tax year, unless you've exceeded it by more than £10,170, this loss will eliminate any CGT liability for the year.
If all your other gains for this year totalled less than £10,170 (which presumably *won't* be the case because you say you've already used up your CGT allowance), then overall you'd still have an overall net capital loss for the year which you can claim, and also carry forward for a number of years.
10,000 shares at the *original* cost (£10,060) go forwards as the Section 104 holding, so if/when you sell any shares of X in the future, these are what you'd have to match that sale to.
Regards,
Mike.

Hi Sid_fiddler69,
Not a daft question at all!
If you're talking about gains/losses for tax purposes, these days (since about 2008) it's all done by a so-called "Section 104" holding of shares. In simple terms, if you have a holding of any one "class" of shares (eg Tesco shares), and this was built up by buying in more than one tranche, at different prices, they are all treated as being acquired at the *same* average price. If a consolidation of all your shares takes place, then, in the Tesco case, the average price goes up by 19/15. So it's then even more unlikely you'll "officially" make a taxable gain when you sell. For example, my overall average cost was about 320p per share, and now it's about 390p! At today's selling prices, about 220p, it would take a miracle for me to make a taxable gain! If you want more detail, if you go back through my postings to about 13 Feb, I posted 3 links to relevant HMRC webpages for another gent who asked a similar question. (If you click on my blue screen-name that takes you to my posting history, which is probably a bit quicker than scrolling back through all the Tesco postings).
I hope that helps,
Mike.

Hi BaysilHope,
Thanks for taking the time to reply. Although I'm *not* a trained accountant, I can certainly see the sense in what you say. The potential tax allowance, also, is something to bear in mind. And of course the fact that whatever total dividend "pot" can be afforded now gets divided between very significantly less shares, not just as a once-off but going all the way into the future (unless they change their capital structure). There are a number of factors that (somewhat surprisingly) the market doesn't seem to be pricing-in at the moment, which, as a long-term holder, are good news. I look forward to seeing the full-year result results in April, when hopefully for the first time we'll be able to see a "clean" balance-sheet reflecting all the recent changes. Of course the slight cloud to this silver lining will now be the increase in corporation tax announced yesterday (but probably to an extent anticipated).
All the best,
Mike.

BaysilHope,
I'm not sure I can follow or agree with your analysis. You say:-
"...What I don’t understand is the enterprise Market Cap post SD. Previous £23.6bn was calculated after the inclusion of £4bn pension deficit, pre-disposal, with 9.74bn shares in issue, or £2.41 SP. The distribution was a negative £5bn – cash out, but no account has been taken for the elimination of the £4bn deficit, especially with 60k staff leaving the business with the disposal, so the net reduction is my mind DYOR is (£1bn), or £22.6bn with 7.732m shares in issue = £2.92, after the results highlight the massive positive impact of this transformational transaction upon the balance sheet. So at 7732m share in issue at £2.19 value TSCo at £16.9bn – what a bargin! Especially in consideration that the removal of the requirement to fund pensions for some years - frees up cash for further share buy backs on top of the divi, accelerating investors returns...".
You seem to have credited the balance sheet with £4bn elimination of the pension deficit (turning your £5bn outgoings to net £1bn reduction), but don't seem to have included the fact that £2.5bn was paid out to achieve that (or contribute, along with other measures, to achieving it). So surely by your figures, the overall net reduction should be £3.5bn, not £1bn, taking calculated market cap down to £20.1bn, not £22.6bn. A considerable difference!
Mike.

DT270380,
"don’t understand why they had to issue a new rns today?"
Probably it's a regulatory requirement on *all* listed companies to do these once a month, or something like that, as a matter of course. Look at the RNSs of BP, for example - it's just the same.
Rgds, Mike.

PenguinZ,
Mine was already in there when I checked first thing this morning. It had been treated no differently to any other dividend. This was with "II".
I was able to reinvest (manually) immediately. A minority, only, of it went on Tesco shares - the rest went on other things that I wanted to top up.
Having read all the comments here this morning, there seem to be 2 main issues, one maybe linked to the other.
(i) With any "normal" dividend, there's a declared "ex dividend" date usually on a Thursday, and then a declared "record date" usually on the Friday. People knew exactly where they stood in terms of timing of any intended buying. In this case, there was a bit of a grey area around 11/12/15 Feb with these normally distinct dates for the various stages somehow overlapping.
(ii) Inability of some brokers/platforms to handle it all from an administrative viewpoint.
I really feel sorry for those where their broker/platform appears to have cxxked it up, and hope it all comes good with minimum delay, hassle and stress.
Mike.

Jr20,
Sorry to butt in, but I don't think it's tomorrow when the wall of cash becomes available, but Friday (26 Feb). As others have said, it might be best to avoid that day to re-invest.
Re MRW, I naively "piled in" to TSCO, MRW and SBRY in about 2011/2012 *after* the respective share price peaks, and held most of my holdings in each ever since, topping-up (at much lower prices) occasionally. Ironically, I did this on the basis of "re-risking my portfolio" and on the basis that "people will always have to eat". I will, I suspect, always be "under-water" on TSCO and MRW. I eventually sold out of SBRY, at a small profit, when the ASDA/Sainsburys "merger" (since aborted) hit the news. I have always, somewhat anecdotally, considered MRW's balance sheet to be stronger (and simpler to understand) than TSCO's. I really need to read properly their respective latest half-year reports to confirm that one way or the other (accepting that TSCO has had a step-change since). Unfortunately these reports are just getting longer and longer - some 47 pages for MRW and 69 pages for TSCO, and these are just the half-year reports! The other thing that concerns me in the long term is, with such thin margins, to what extent the levels of dividend are affordable and sustainable in the future and how the share prices can ever appreciate substantially in the future - different investors have different needs, but I wouldn't want any capital growth to be totally cannibalised by the size of the dividend.
ATB, Mike.

jaffjoon,
Everything will have some effect, but as markets are said to anticipate some 18 months ahead, a lot of this will be "expected". If, of course, they announce that there'll be no easing of the lockdown until 2022, that would be another matter! What they may say about business rates, for example, could have a big effect, and personally I will be looking out for what they say in the Budget (on 3 March), on things such as Corporation Tax.
Mike.

colti,
The effective yield will be the amount of dividend per share announced (which isn't yet known) divided by the price you buy the shares at. The next dividend to be announced will be announced at the next set of results, sometime in April (I've seen 2 versions of the exact date, depending on where I look), but that's only for one half of the year. The annual yield looking forwards can only be a "projection" until the dividends themselves are actually announced.
Mike.

Well said!

kingrav,
"It be interesting to know market cap before all this happened. Anyone know?"
About £23.5 billion before "all this happened", and about £18.5 billion afterwards.
To calculate market capitalisation just multiply total number of shares at the time, by share price at the time. You can get the exact total number of shares from the relevant RNS announcements, those dated 1 Feb 2021 and 15 Feb 2021. Just press the "RNS" button near the top of this screen - they're all listed in date order.
What's this all leading to?
Mike.

SKOCHADAM,
Longtimeinvestor has already given you a couple of quick answers - you have not lost £5,000. If you wanted more detail you can either look at Tesco's own announcement to the Stock Exchange back on 25 January here, which has all the details including the timetable:-
https://www.lse.co.uk/rns/TSCO/notice-of-general-meeting-1ln7jr9c7usdj1m.html
or you can look at my example below which I've copied-and-pasted from my explanation earlier to another poster with a similar question - you'll just have to scale-up the 190 to whatever number of shares you owned up to last weekend.
(i) Last Friday let's say you had 190 "old" Tesco shares. The market price was about £2-40.
Therefore you had £456.
(ii) This week you will have 150 "new" Tesco shares. The market price is about £2-40.
That's £360.
You also have a dividend of 50.93p to come (payable on 26 Feb) on the 190 old shares.
That's £96-76.
So now you have £456-76.

Unfortunately share prices across a lot of the market have fallen today (possibly due to the strength of Sterling), and the Tesco shares are currently only about £2-30. So at the moment you'll have slightly less, but that would have happened to an even larger extent if this Tesco "special dividend and consolidation" exercise hadn't taken place.
I hope the above makes sense.
Regards, Mike.

Good morning Spindler,
It's uncharacteristically quiet on this board this morning!
To my simple mind you're not missing anything. I'm inferring from your posting history that you sold out of Tesco completely, some weeks ago. Assuming that's the case, then:-
On the upside:-
(i) You've avoided any potential income/dividend tax implications from the Special Dividend.
(ii) You got out at a favourable price compared to today's price.
(iii) You save enough to compensate for not receiving the Special dividend by now only having to buy fifteen-nineteenths as many shares to restore your full position wrt "normal" dividends going forwards.
On the downside:-
(i) You may have incurred dealing costs (depending on type of brokerage account/platform) to sell, and you may incur dealing costs to buy back in.
(ii) You will incur Stamp Duty charge to buy back in.
To me, it's as simple as that.
Mike.

Thanks for the clear explanation, Monkshood.
Rgds, Mike.