Member Info for MikeM14

mattwsh2904,
Similar here - my average is about £2-73 (mainly bought in 2021/2013 but smaller top-ups more recently) so I'm still "under water" and the current share price is so near yet so far.
Jimbo1122,
I'm not sure why there should be a "better" offer from Fortress as the current offer (252p plus 2p) has already been recommended by the Board for acceptance - unless something fundamentally changes such as an unsolicited higher offer from elsewhere. Of course, if the current offer failed to secure 75% of shareholder votes that's another matter.
I'm still surprised that the share price is hovering *above* the offer, and at such an "exact" level (265p/266p). Normally one would expect it to be a couple of pence *below* the agreed offer, to allow for dealing costs if one was to buy, and "time value of money". I am tempted to sell now, rather than wait as the price falls to the offer level, but another half of me says that the fact that the current SP is so steadily above the offer suggests that the collective wisdom of "the market" is that there *will* be another offer, at a higher price, within the timescale.
As to the timescale for the current "recommended" offer, I've tried to re-read the full announcement. The timescales for the events will be set out in the Scheme Document, and it says that the Scheme Document is expected to be published within 28 days of the date of the announcement (5 Jul 2021), so that should be no later than 2 Aug 2021. The "scheme" is expected to become effective in Q4 2021, so that is October at the earliest. A long time for a private investor to stay in suspense!
Anyway, good luck all.
Mike.

Hi Etotheipi,
No question is stupid!
GWh, or MWh, is an amount of energy. MW (without the "h"), is the speed at which the energy is delivered, ie the power.
The amount of energy from 48MW running non-stop for a year is 48 x 24 x 365. That's 420,480 MWh. Divide by 1,000, to get it in GWh, ie about 420.
That would be at full power, with high enough wind speed, with no downtime. They say it's expected only to be 150GWh. That takes into account lower wind speeds for much of the time, some downtime for maintenance or repairs, etc.
Incidentally, I see very few people commenting on this board. I wonder how many people have taken part in the fundraising, which with my own broker/platform had a deadline of today. I did decide to take part, but not my full entitlement of shares. To be responsible to myself, I tried to read the full Prospectus, and also the last Annual Report, to better understand what I was investing in, but they are huge documents (255 pages for the Prospectus, and 175 pages for the Annual Report), and there was no way I could read them in full before the deadline! Considering it's a relatively small Investment Trust (I also hold "UKW" and "TRIG", which are both about 6 times the size), I do wish these documents could be shorter, but the format is probably dictated by the Regulator.
Are you invested here?
Regards,
Mike.

Hi Nick1234,
Why should this necessarily keep advancing? It's gone from about £38 to about £43 in just 3 months or so. It's a £110bn company, with a P/E over 22, and dividend yield just under 3.5% (at the current share price). It's certainly unlikely to do anything fast. I'm not a chartist, but looking at the 5-year graph (from this LSE site) the only time there's been a step-change in SP was in about Feb 2017 with the failed Kraft bid, and the consequent/subsequent actions ULVR took (from memory, increased payout on dividends and accelerated disposals). Also it's noticeable that since then, there seems to be a fall and a "low" every year in about Jan/Feb and it seems to go in a slow (once a year) cycle with gradual recovery until the following year's drop. I think you're right to mention currency factors, which is one thing that could change the SP pattern (looking from a UK perspective).
PS: I'm a (relatively small) LTH.
ATB, Mike.

Daytradenovice,
It looks as if whoever has "cut and pasted" this article in has managed to "conflate" different articles. Look at the final line:-
"Clearly, this company’s founder and CEO agrees."
I wasn't aware that Looney was the founder of BP. I suspect that he probably wasn't even born when BP was founded!
Rgds,
Mike.

eccles04,
I wholeheartedly support your suggestion that people should spend a mere minute of their time looking for answers in the obvious places within the LSE site (the 2 you suggest, and also the "RNS" button). It is a very valuable resource for "at a glance" information. However, some of the information is patchy. For example the Financial Diary for BP. for some reason doesn't show the declared quarterly dividend to be paid in June 2021, only the one for March 2021, and similarly the Financial Diary for EGL doesn't show the declared dividend to be paid in May 2021, only the previous one. (I mention these 2 stocks because I happen to have holdings in them).
Mike.

Hi all,
Well I took the plunge and got in this morning at about 119.7, and it now seems to be recovering well. I'm not sure what caused the big apparent sell-off both on Wednesday afternoon and then yesterday afternoon. I'm surprised that there haven't been any "holdings" RNSs.
I've bought this as an investment for my ISA, not as a "trading" share. I also have a larger number of Greencoat UKW which I bought at a low a couple of weeks back. At least with these larger investment trusts the spread is a bit more reasonable than with the smaller ones such as EGL, SEIT and ORIT. A pleasant surprise with TRIG is that there's no Stamp Duty to pay on purchase - a cost which, depending on how many one is buying, can be significantly bigger than the broker commission. Compared to UKW this one is more diversified in that it's not just wind - it has solar assets as well - and it's not just UK assets.
GLA, Mike.

Hi Rogue,
Many thanks for posting the YouTube video, which I have started to watch, but there's a lot to take in there so to do it proper justice I'll spend more time on it. I have held SSE shares since about 2004 (when they were just over £6-00!), and have also been a long-term customer, until the retail business was sold to OVO a year or so ago.
One little suggested "correction" I would offer concerns the graph and timetable of events about 5 minutes into the video. In late 2017 you have a blue box "Spin-off of retail energy supply business in deal with npower group". This "npower" deal was first announced in an RNS announcement dated 8 Nov 2017. However, it never actually happened - the deal was "killed" in an RNS announcement dated 17 Dec 2018. In effect the "OVO" deal was *instead of* the "npower" deal.
I hope that helps.
I'll now enjoy watching the rest of the SSE video, and also look at the video on UKW/Greencoat, being a very recent shareholder (I actually bought a couple of weeks ago).
Regards, Mike.

Hi again Fairy1,
Everything else being equal (which of course, with the markets, never is!), the more significant date is the "ex-dividend" date, when one could expect the share price to fall by about the same amount as the dividend. That date has already passed, on 18 Feb 2021.
Payment date is, as you know, 26 Mar 2021.
These dates were announced as part of the company's results, issued on 2 Feb 2021.
The exact dividend amount in Sterling was subsequently announced (on 15 Mar 2021) as 3.7684p per share.
The various "RNS" announcements by BP can be seen here, in date order, here:-
https://www.lse.co.uk/rns/BP./
On actual payment day, the main factor that may affect the share price is to what extent shareholders then reinvest their received dividend money in more BP shares. I'd expect this effect to be less, because it is anticipated by the market, and the dates of reinvestment, whether manually or automatically reinvested, will be spread over different days, including depending on how the various brokers/platforms work.
Regards, Mike.

Fairy1,
Okay, I hope you have success with HL tomorrow - it's a bit of a pain otherwise.
I'm going to "sign off" now before incurring the wrath of others on this BP-specific board!
Yeah, pity about the drink, but thanks for the thought, and let's all drink in our socially-distanced ways to happier times, with COVID, shares in general, and BP!
ATB, Mike.

Hi again Fairy1,
"so I’m panning to sell 20k worth before 6 April,and buy again in an Isa.".
It's worth checking, before you do that, whether your broker/platform does a "Bed & ISA" process. I'm with Interactive Investor, and they do it all in one process. They sell your selected shares outside the ISA, and at exactly the same time, buy the same value of shares back within the ISA. Because it's done almost instantaneously, the market price has no real chance to move in between the selling and the buying. Also, importantly, they only charge one, not 2, commissions. They only charge the commission on the buying, not on the selling first. However, due to the transaction costs (commission, stamp duty and bid/offer spread) you still end up with slightly less shares in the ISA than you started with outside the ISA. In my case, for the particular share I moved (which wasn't BP), I wanted to move my holding of 200 shares (these were shares at about £14 each), and ended up with 198 in the ISA. In my case that wasn't an issue, because I wanted to top-up anyway, which I've now done. It wouldn't be an issue either if you were planning to actively trade the shares once they were in the ISA.
Regards, Mike.

Hi again JG68,
Re first paragraph - thanks, I understand now what you meant by "maxed out" - I think many of us are in that position, with capital tied up in shares that are currently "under water"!
Re final paragraph - to be clear, you don't have to report anything that goes on in your ISA (deals, dividends, etc) on your tax return.
Rgds, Mike.

Hi again Fairy1,
If I'm understanding your question correctly, *in my opinion* how it should work is as follows.
If the shares were in an ISA at the time of the sale, then CGT is irrelevant.
If the shares were not in an ISA at the time of the sale, then as an example:-
Say on 29 Mar 2021 you already had a Section 104 holding (or "pool") of 1,000 BP shares.
Say you sold 400 of them on 30 Mar 2021 at £3-50 a share.
Say you then bought more 600 BP shares on 12 Apr 2021 at £3-00 a share.
The 400 you sold on 30 Mar 2021 have to be matched to some of the 600 you bought on 12 Apr 2021, *not* to some of those in the pre-existing Section 104 pool.
Your gain would then be £200 (obviously all these figures are actually net of dealing costs, etc).
You *would* make a potentially taxable gain. Your £200 gain would have to be added to all your other gains in tax year 2020/2021 to see whether in total you were below or above the threshold of £12,300 for tax year 2020/2021.
Your £200 gain applies to tax year 2020/2021 (when the sale was made), not to tax year 2021/2022 (when the matching later purchase was made).
I hope this is right, but I'm confident someone such as MaryBr190 will jump in and correct if it's not.
Regards, Mike.

Hi Jason, and thanks.
Last question first, unfortunately I don't think you can claim stamp duty directly as an expense, whether outside an ISA or inside an ISA. Of course, it's reflected in the overall cost of the shares that you report, along with any broker/platform fee, so your reported gain (proceeds minus cost) is lower than just the difference in share price would suggest. I'm not a frequent trader, and am relatively new to using a Stocks & Shares ISA, but it seems to me that just as you're not liable to tax on your gains, so you can't claim for your losses. Outside an ISA, you can "register" any overall loss in each tax year, and these losses, once registered, can be carried forward for several years (I can't remember exactly how many) to be used against gains in years where otherwise your overall gains would be above the CGT threshold (currently £12,300, from memory). As you know, each time you buy shares, even if you then sell them again immediately, as well as just the cost of the shares themselves, you have 3 costs which you can't get back: the broker/platform fee (depending on your broker/platform), the stamp duty (0.5% of the value of the shares), and the bid/offer spread (which is relatively tiny with shares such as BP, but much bigger with smaller companies, and also bigger with Investment Trusts, of which I now have a couple).
I'm not sure about your "after 20k you're maxed out" with an ISA. My understanding was that once you've put the max £20k in, you can trade and/or enjoy share-price rises, with the shares that are already in it, as much as you like. If that gets it up to £90k, for example, so be it. What you *can't* do is move new money or new shares into it, once it's up to the fully-subscribed limit. If I've got that wrong, I'm about to find out, because I've only had my new S&S ISA going for a couple of weeks!
All the best, Mike.

Hi 1.Armani,
SSE re-set their dividend (lower), a year or so ago. It's now about 80% of what it used to be.
Talking just from memory, I think their stated dividend policy going into the future is to raise it (from the new, lower base) "by inflation" in the near-term future years. I'd have to re-check, though, as to how recently they last re-iterated this policy.
Rgds, Mike.

Hi again Fairy1 and JG68,
I've re-done my example, which is at the bottom of this post (if it all fits). It's got so complicated that there *might* be numerical errors in it, but hopefully not. Again, prices and numbers are fictional.
In terms of other comments, JG68 asks: "Do you have to report these transactions individually to HMRC on tax return or can you bulk report them after you have done all the calculations you described below?" My answer is I think it's best to list them all individually. That way HMRC can see you're not hiding anything, they can see how you got your answers (so avoiding further queries from them), and if it is wrong you'll get "free" education from them, for future use!
Also, JG68 says: "I think all gains under an ISA are tax free". That's right, all gains once the shares are in an ISA are tax-free, and so are all dividends from those shares. However, even when buying in an ISA, you still pay Stamp Duty (another kind of tax) each time you buy shares. I think that it *is* a good idea to keep a running record for each share as you go along. I do mine in "Excel". Hopefully for the frequent trading you do, online calculators will make life simpler, but I've never tried them myself. I think it's still important to understand the principles of the rules - that way (i) you can "sanity check" what the calculator is doing, and (ii) you can use the rules to your best advantage.
The new example:-
(a) 23 May 2020: Buy 1,000 BP @ £3-00.
(b) 3 Jun 2020: Buy 600 BP @ £4-60.
(c) Section 104 holding is now 1,600 BP at total cost £5,760.
(Average cost per share is £3-60).
(d) 5 Jun 2020: Sell 400 BP @ £5-00 - proceeds £2,000.
Allowable cost for the 400 is (400/1,600) x £5,760 = £1,440. Gain is £560.
(e) Carried-forward Section 104 holding is 1,200 BP at cost of £4,320.
(This is still average cost per share of £3-60).
(f) 18 Jul 2020: Buy 1,800 BP @ £4-40). Cost £7,920.
(g) Carried-forward Section 104 holding is 3,000 BP at cost of £12,240.
(Average cost per share is now £4-08).
(h) 9 Sep 2020: Sell 600 BP @ £4-88 - proceeds £2,928.
(i) 19 Sep 2020: Buy 1,200 BP @ £4-52. Cost £5,424.
The sale on 9 Sep 2020 (h) is matched to some of the shares bought on 19 Sep 2020 (i), because of the 30-day rule.
Allowable cost for the 600 sold is (600/1,200) x £5,424 = £2,712. Gain is £216 (£2,928 - £2,712).
(j) Carried-forward Section 104 holding is 3,600 BP at cost of £14,952 ((g) plus half of (i)).
(Average cost per share is now £4-1533).

All the best, and hope that helps.
Mike.

JG68 and Fairy1,
Sorry, I've been out all afternoon and can now see that I've made a mistake due to trying to do it all too quick. That first number should indeed be £5,700, not £6,600.
I'll re-do it all again this evening - offline this time - and re-post sometime this evening, and I'll look at all the other comments while I'm about it.
Well spotted, and sorry for any confusion.
Cheers,
Mike.

Example below - prices and numbers are fictional.
23 Oct 2020: Buy 1,000 BP @ £3-00.
3 Feb 2021: Buy 600 BP @ £4-50.
Section 104 holding is now 1,600 BP at total cost £6,600.
(Average cost per share is £4-125).
5 Feb 2021: Sell 400 BP @ £5-00 - proceeds £2,000.
Allowable cost for the 400 is (400/1,600) x £6,600 = £1,650. Gain is £350.
Carried-forward Section 104 holding is 1,200 BP at cost of £4,950.
(This is still average cost per share of £4-125).
12 Mar 2021: Buy 1,200 BP @ £4-175). Cost £5,010.
Carried-forward Section 104 holding is 2,400 BP at cost of £9,960.
(Average cost per share is now £4-15).
14 Mar 2021: Sell 600 BP @ £5-00 - proceeds £3,000.
28 Mar 2021: Buy 1,200 BP @ £2-00. Cost £2,400.
The sale on 14 Mar 2021 is matched to the shares bought on 28 Mar 2021, because of the 30-day rule.
Allowable cost for the 600 sold is (600/1,200) x £2,400 = £1,200. Gain is £1,800 (£3,000 - £1,200).

I hope there are no "typos" in the above!

Mike.

Fairy1,
I'll knock up a simple example of how it works. Coming shortly!
Mike.

Fairy1,
Glad it was of some help - have a good weekend yourself.

notgotaclue2200,
Whilst I appreciate that tax is arguably off-topic for a BP-specific board, I joined "LSE" to (i) LEARN, and (ii) HELP (where I can). People don't need to spend lots of time here, or on Google, looking for this, and risking getting false information. All they need to do is go to the Govt/HMRC website. Govt/HMRC make and implement the rules - you, me, Google, or anyone else, don't.
Mike.

Fairy1,
Provided you've worked out your profit (gain) correctly, if the profit's below £12,300, and you haven't made any profits from any other share sales in the current tax year, then there's no liability to pay any tax. So yes, your £5k is tax-free. If you got proceeds of less than £49,200 from the share sale, you don't even need to declare it in a tax return.
The only thing to bear in mind is the "30-day rule". If you sell the shares now, and buy the same kind of shares back within 30 days, you're in a different situation - all of this is in the HMRC website.
Mike.