Member Info for NewKOTB

06-Mar-24 16:35:14 172.00 801,283 Buy* 1m UT

Windfall tax extended

Hunt also says he will extend the UK’s windfall tax on the profits of oil and gas companies until 2029

We all knew this was coming…. 😞

Two measures have been announced to get more people and pension funds to invest un UK stocks.

"British ISA which will allow an additional £5,000 annual investment for investments in UK equity with all the tax advantages of other ISAs. This will be on top of the existing ISA allowances and ensure that British savers can benefit from the growth of the most promising UK businesses," Hunt says.

It will also force local authorities and defined contribution (DC) pension funds to disclose how much they have invested in UK shares.

UK pension funds currently invest a fraction (4%) of their assets in UK shares

……… hopefully some will flow into NS companies

Dividends….

Now looking at closing in on circa 15% divided

Flexmw,

Sorry, away in Paphos atm so not been tracking as I would normally… but glad you are , keep up the good work, thanks… and yes , very interesting!!!

atb

Jefferies cuts Serica Energy price target to 260 (280) pence - 'buy'

"Of note and topically is that Big D opened ENI's new LNG facility at Pointe Noire just yesterday....."

It appears there is presently plenty of 'vacant' land surrounding the processing plant too.

""The tax has ended up raising less than initially forecast, with the government’s monthly receipts data suggesting about £6 billion has been collected to date. The OBR’s forecasts indicate another £3.6 billion is expected over the 2024-25 tax year, with takings tapering to £1.9 billion in 2027-2028...." (if they are lucky imo)

If that doesn't tell you its and industry in decline, don't know what will ....

https://news.yahoo.com/hunt-considers-extending-uk-windfall-130625331.html?guccounter=1&guce_referrer=aHR0cHM6Ly9kdWNrZHVja2dvLmNvbS8&guce_referrer_sig=AQAAAFqcjNZDtf0vH7V0KXUXMGEEyd4qnZ58wjJgx4cbzAHGWKHjCZ4_MdkfcQ4Xl6ITlIG-NjlcIOmpFKSt2o5urz_2UKNM6NNwTFSRuOcsJnpK__YDE5mVexBhBRr_lXgYmjm1qCr5_Fu9IaGlf0fG7KL4QyHIQU9h_DlyvU3dFgiw

aimo & dyor

Good chance he will damage the industry more for nothing more than beating Labour to it and so doing pulling the rug from under Labour's calls for more tax.

See GCM is Flavour Of The Day today, how long before we become someones main course, I would however settle right now for us becoming an appetiser or even Chikwanga snack to get us noticed on the menu ?

"but can LTH summarise why there has been such a negative reaction to it?.."

FWIW, I believe it is due to our mystery 'suitor' (possibly Askar Alshinbayev or connection with) being knocked back with their approach for the whole company. I also believe that our 'suitor' is responsible for the never ending selling pressure including our mystery ~100k seller, that being, one or possibly both of our 6% holders.

On the plus side, one would think if the company was such a screaming buy to make an approach with our SP range bound circa 14-19p for several years, that this seller may turn to become a buyer again on a successful onshore drill and look at taking another go at us prior to offshore campaign.

On thing for sure, CHAR's SP is not reflective of our current business at all imo

aimo & dyor

There is always...

Option 4: We get taken over !

aimo & dyor

"Vodafone has rejected an offer by billionaire telecoms tycoon Xavier Niel to merge their Italian operations in a €10.5bn"

Today we have :

"...There is also a possibility that other parties, such as Iliad, the French telecoms group that operates in Italy as a low-cost mobile provider, could make a counter-offer or challenge the deal"

This 'deal' will have a few more twists 'n' turns before long imo.

aimo & dyor

"I'm unfortunately of the view that Mitch Flegg has the capability to drive this company further into the ground..."

Think you need to get up to speed on that one ...

aimo & dyor

Lol Beo, & who's books do you think the debt is ultimately on ffs !!!

Think the author has a problem with his decimal place…. £1m … lol

Moving into 10% yield territory, that will (should) attract buyers !

Appears so .... :-(

On open we smashed out of the downtrend ( couldn't have that could we ) only to be dragged back down by our not so friendly shorter's, now the yanks are joining the party. ffs

Just shows how corrupt the UK stock market is, within 2.5hr of trading the deserved opening gain was slowly eroded by shorter's working en-mass to regain control of SP. We have a confirmed 9% yield ffs

aimo & dyor