George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
Unfortunately without knowing the mechanics of any distribution we can’t put it to bed.
There are usually two ways for a company to distribute its cash to shareholders.
The first is the traditional dividend approach which would result in dividend tax for shareholders
The second is for the company to buy back some or all of its shares. This would result in CGT for shareholders.
Without knowing the mechanism chosen nobody can know what tax is applicable yet.
If anything does come from this my preference would be a share buy back as then you can at least offset your original investment against CGT
If anything actually transpires my guess is that it would appear as a dividend rather than a capital gain.
Either way is a bit of a bummer seeing as my shares were moved out of my isa when the company delisted.
I don’t think there’s been any mention of any share related transactions so im thinking it wont be a cgt situation.
Just guessing though as any return from here is a bonus.
Maybe they just opened the short so it gets registered and can be seen. The short would clearly play on the mind of potential buyers and therefore supress the price when good news arrives.
This would give them time to accumulate lots at 14p without causing a spike in the price.
When they have what their after they can just close the short so it disappears. Everyone thinks "hey the shorts closed" and starts buying and the price goes up and they make a huge profit on everything they bought at 14p.
Just a thought as I have no idea really.
I've no idea mushroom but they'll "know" you have big pockets :-)
AB - If you believe the shareholders and people interested in the company don't really understand what we have at LCCM then you should start your interview by saying "we've had many years to tell people what we have at LCCM but we apologise because we have clearly done a very poor job of explaining it".
If shareholders and potential investors had been educated by yourselves over the last few years we wouldn't be languishing at the 0.3p share price level.
Please take some responsibility and spend some time educating potential investors if you think they don't understand! Education is the responsibility of the BOD!
Grrrrrrrrrrr.
I'm considering it too with my 26M votes but it's not easy when your shares are spread across various nominee accounts.
I suspect there will be a protest vote but he'll get enough to get re-elected.
I wish mine were in profit!
Been sat here waiting patiently for this to reach the BoD ambitious £100m Mcap. I'll be more than happy when it does but my patience is wearing thin.
@speedy. The Universal number accepted as the meaning of everything is 42 and not 7 so you need a bigger shed!
I've been dreaming about hitting those option prices since 2018.
Unfortunately these days they are mostly nightmares :-(
I could well be wrong but I thought the PEPR was lodged last year and the government responded. (See Sept 10th RNS)
What we're waiting for now is for SML to reply and answer the questions that the government posed.
I've no idea why it takes so long to reply to some government questions. If it was my business I'd have replied asap. Maybe asap equates to the end of March. Who knows. More patience required
It protects them if someone has taken out a long position spread bet.
If the shares go up they lose on the bet but gain on the shares.
If it goes down they gain on the bet but lose on the shares.
Me neither :-)
I'll get excited if we hit the BoD June 2021 7.5p options target.
We'll need to go some to get there!
Yes you would
You missed the -
or things may be finally starting to fall in to place so it could actually be about to go up!
I'm pretty sure it's a little more complicated than that.
I think if HL themselves go bust you're cash is safe up to £85k.
They do distribute your cash across multiple Banks and if any one of those banks go bust then your funds that will have been shared out amongst those banks is safe up to £85k in each bank depending how much of your cash has been placed with each bank. Be careful with this one though as I believe it's your total exposure to the relevant bank that gets used. So if £50k of your cash has been stored in Barclays by HL and you have your own Barclays account with £50k in it your only covered up to £85k for that institution no matter how your money got there.
So it depends who goes bust and which institutions they have placed your cash with. So almost impossible to predict unless it's HL themselves that go bust.
My votes for continued silence. I'm losing the will to live here!
Did somebody mention Australia Day!!!!!
I was talking about Peter (Wale) NOT John Peters :-)
Lets go back to the beginning. Peter Wale said there would be no bonuses in 2020 during the interview :-)
I'm not sure why your post was deleted but the issue I had was that your post implied a deliberate intent to mislead rather than someone genuinely trying to explain the facts as they perceive them at a given point in time.
I'm not sure it was Peter that made the grand statements you're referring to but either way if you don't think he believes what he says to be true at the time he makes the statements then it may be time to move on!
i.e. He believes right now and stated that there will be no bonuses this year. In the unlikely event that we 10 bag from here (yes I make myself laugh too) in the next 3 months he could well be wrong but at the time he meant it and believed it to be true.
They have already agreed that there will be no bonuses in 2020.
Well that's what Peter said in the interview anyway.