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Does this imply reduced cash dividend but replaced by RASP shares?
'Evraz said it does not currently have sufficient distributable reserves to make the in specie distribution of all of its RASP shares and therefore to effect the demerger. As an interim step, its board is proposing to capitalise US$8.2bn from its profit and loss reserve by way of issuing capital reduction shares and to reduce its share capital by cancelling the capital reduction shares, so as to create sufficient distributable reserves to carry out the demerger.'
Agree. I think this trading update will help do that. It draws attention to the financial stability of this business given difficult conditions and the fact it's not directly related to oil prices and will be increasingly less so.
Hope you held on Aucuba! I think the headlines put people off but once they've digested the actual text of the RNS they'll feel differently...
They've estimated improvements in H2. There's been a relatively small dent in revenue and yet the share price is still down about 40% from its highs. Am I the only one scratching my head here? This is a fairly well diversified company that's strengthening it's renewables segment as per earlier RNS. This should be higher priced higher...?
Certainly interesting so far... lots of people selling off the rise as they know the next 6 months won't be quite so impressive due to Covid.
The ailing businesses have teamed up with law firm Mischon de Reya to form the Hospitality Insurance Group Action. It will focus on businesses covered by one specific policy from Aviva and four sold by QBE
https://www.telegraph.co.uk/business/2020/05/20/insurers-aviva-qbe-face-lawsuit-firms-denied-covid-payouts/
Facile to assume that the number of policies means the claims are weighted toward QBE but Aviva have said only a small exposure.
Live prices just came back! Very bad timing :-(
Thanks both. Live pricing isn't working for my other positions either this morning... just curious to know if it's across the board or possibly just for people with ESL (bit paranoid I know but I've been using it a couple of months now and it hasn't happened before). Unfortunate coincidence with this volatility perhaps...
Anyone who doesn't hold ESL finding this?
Anyone else finding live pricing isn't working this morning?
Just acquired TI Media. Latest trading announcement was positive in the circumstances.
Very credible CEO, excellent financial performance of late both organic and through acquisitions.
Discretionary spending may typically drop in a recession, but this isn't a normal recession. It's an enforced lockdown. People will read more online.
Tax on digital publications has been scrapped. TI Media has claimed: "TI Media – formerly Time Inc UK and owner of titles such as Country Life and Marie Claire UK – had seen digital subscriptions jump 200% in the last seven days alone, according to the Treasury."
Source: https://www.expressandstar.com/news/uk-news/2020/04/30/plans-to-scrap-tax-on-e-publications-brought-forward-amid-lockdown/
At this price this is a strong buy for me.
Link was removed... they're refunding lots of motor insurance customers due to lockdown.
All this fear over a bumbling celebrity chef, where right is right, they're quick to act, don't let a momentary blip in reputation put you off: https://twitter.com/DanielCDuckett/status/1252509149625225217?s=19