Member Info for my2penneth

Slatford a NED, buys £100k of shares.

https://www.londonstockexchange.com/exchange/news/alliance-news/detail/1531499180755550200.html

If so, then I suggest that GFRD will only be doing a small amount of work for a small amount of money. To do more would be foolish.

there's no mystery - if there are any significant buys/sells then they have to notify of their change in positions formally - they can;t just not say anything (unless its by accident. which is in the same excuse level as the dog ate my homework).

All these announcements and rumours are complete BS - muck raked up by traders. Filter it out.

Yes : There is trading after 4:30pm for 5 mins. In this period the computer system that runs the stock exchange tries to match up any outstanding orders to BUY on 'one side of the books' with orders to SELL on the other.

During that 5 minute period of time (and if you pay for access to this 'after normal hours service' )you can make a bid to buy (or offer to sell) but within a fixed range (5% ...so you couldn't make a silly offer!). The computer system tries to cross off as many buy/sell orders as possible so it looks for the biggest volumes to buy or sell first and works down the list. (I think of it as a crossing off period as it crosses off buys and sells, but the system refers to it as Uncrossing trade).

After 5 mins there is another 30 seconds and the market is closed and you see the closing price reported.

**** The aim is to come up with a closing price for the day and a starting price for the next day *****

The next day, there is a period just before the stock market opens to Joe Public at 8:00am (UK) whereby those who pay for the service have a small window of time before 8:00am to buy/sell shares...hence by the time the average punter has access to buy the share price has moved!

From today's Interim report

"The net proceeds ( SUSE business sale) will be used in part to pay a tax charge arising from the transaction and to repay a proportion of the existing Micro Focus Group debt. The remainder of the net proceeds, which will represent the majority of the consideration, will be used for general corporate purposes and/or returned to shareholders through whatever mechanism the Board may in its discretion determine at the relevant time"

From the 2017 annual report

The UK remains the largest as well as the
most mature online market. H2 Gambling
Capital estimates that in 2017 the UK
market online market grew 10% in 2017
and accounted for 17% of the overall online
gambling market. China and Japan are the
next largest markets with 10% each. Europe
remains the largest territory, comprising 53%
of the overall online gambling market in 2017
and is forecast to grow at a compound annual
growth rate of 9% from 2017 to 2020

They may 'return' it in the form of share buybacks. With less shares in circulation they theoretically become more valuable but more likely the management will look at earnings per share increases to trigger/maintain THEIR bonuses.

I don;t think we will see a return of capital or special divi. I could be wrong - it's just the cynic in me!

Down today, reflecting general mood in the mkt.

I note that a Non Exec Director has just bought 10,000 shares RNS issued today.

Not sure if this I a correct interpretation but...
(1) SLA will return cash to current holders by creating "B" shares which will have a minute value of 33.4p. They will then buy these shares and return cash to shareholders.
(2) They will use £750m to buy back shares to reduce the total number of SLA shares in circulation
(3) Any remaining cash , after these 2 steps, will be used to pay down debt.

Tax treatment????? If they simply returned cash as a special dividend then it would count towards this year's £2000 limit beyond which one pays tax. By doing it this way, does it count as a return of one's own capital?

The vote was passed on 25 June 18. The only timescale I've seen is that it will complete Q3 2018.
I'll admit I don't fully understand the proposal ...here's the original announcement.

https://www.investegate.co.uk/standard-life-aberdn--sla-/rns/update-on-proposed-transaction/201805290700154394P/

It seems that after the sale of the Life insurance arm surplus cash will be returned in the form of cash (33.4p minimum plus a share buyback).

It's the reference to the B share scheme I don't understand but when I read the announcement I thought it doesn't sound especially attractive to current holders....maybe Mr Market is echoing this?..

How much (if any) of the recent sp decrease is due to SLA voting to give back a minimum of 33.4 pence per share (still to be received - voted for very recently) following the sale of its UK and european insurance business to Phoenix Life?

I guess that this is being shorted?

The Divi is more than covered. Yes, Mor W. would be open to an offer!

Suse sold for 2.5 billion USD, halving the debt figure , strengthens the books. I look forward to the Divi.

Divi is in Euros so it will be difficult to say exact yield but it is currently well over 5%. Not a bad buy in point. Hold for a year or three.

They must be busy in the "contracts received" department!

The record date was 22nd June.

I hold CRST and I've posted on them previously ( a positive view).

Royston Wild....one of the Fools that I no longer take any notice of.

Exactly what I was thinking RduR!

JSD6000 project ....they should have received $92m (20th April + 20 days).

"The total consideration of US$190 million is offset by a net amount of US$23 million retained by Petrofac under the previous hull and marine contract with ZPMC. The remaining US$167 million net cash consideration will be received as follows: US$92 million within 20 business days; a further US$70 million in stages as assets are physically transferred (expected to be over the period mid-2018 to early 2019); and, a final amount of US$5 million upon commissioning of the vessel. The proceeds from the sale will be used to reduce gross debt."