Member Info for NormaStits

That’s all well and good, but where’s our Special Divi?

;-)

Totally agree NewKid. Absolute case of 'Coulda Woulda Shoulda'. Yesterday's story played through today's lens is a tempting comparison to make, but utterly futile. One doesn't drive a car by looking in the rear view mirror.

Nope. Would be a purely hypothetical comparison. It's tempting to keep calculating it and saying 'told you' but nobody has any idea what either company's SP would be right now if the KIST deal had been accepted.

I do hope your multi-faceted thesis plays out. Your views accord with many of those already invested. Lots of ifs, buts and maybes…but that is always the case when taking a position in a stick. Good luck.

…that would destroy capital formation in this country and a very dangerous path to follow. Gas might be crucial…but so too food, water, all transport, all communication forms etc. The list is endless. Taking private assets into public hands is fraught with difficulty in a free market economy.

Who was it that put the company in a position to take advantage of that gas price? That wasn’t your ‘mom’.

‘Cor blimey’ in a Syd James voice/face pull.

Is there a waiting list to become a member of the FCA?

This is hilarious. “We hate AA, don’t sell the company to him”. Curtain comes down. “”We hate our Board. They’re asleep at the wheel, blah blah. This is what I think BlackRock will do.”

Comedy gold tonight.

Given the volumes involved, can only see it being the latter.

Am also poised and ready to buy more…

Could be / should be. All timetables are flexible if all parties consent.

Not so much 'expecting' one, but knowing one is possible/likely. Still is possible...

Morning NewK.

QC, fair comment. Of course the NBP is a key driver here, as it is for all players. TSR was decent before the price rally and don't disagree that more could have been done in the quieter days to leave us further beyond where we are today. However, as a 10 year shareholder, i cannot complain with the current location.

Cheers!

'Board is a disgrace'. Given the TSR generated over past 10 years, facts don't support that statement.

Does BoD need to be active? Yes. Are they working over our existing assets and drilling a new 'hole'? Yes. Do they want to buy new assets in an inflated/bubble market? Probably not if they cannot enhance them.

Are they perfect? No...but who is?

The reality is that yes, some of those small trades will take place. If there is a big redemption (or inflow) from/to a fund or portfolio, then (and a big generalisation here) a programme trade would be applied across the whole portfolio. Yes, it can be manually adjusted for liquidity and special sits, but often not. Allowing a single holding to ride up above its intneded weight (by excluding it from the programme) when a portfolio is changing shape or falling in size can be a dangerous game that has been the end of a number of fund managers. Of course, it can happen but it has to be deliberate.

Just my opinions and observations...

thanks NewK and apologies for my laziness; I had seen your response.

The factors that prompt portoflio managers to modify position sizes are so varied and multi-faceted that their 'happiness' at selling at 360 is an assumption too far. It may be so, but there is a host of other factors behind such dealing activity. Asset allocaiton changes, fund flows, portfolio position changes (we just had a growth rally during July) all matter, regardless of whether a holding is subject to corporate activity or not.

If there is a formal bid, then we will find out soon enough.

As ever, your work and views on this appreciated!

Are you assuming that most of that list would back AA?

Titan - I have no insight to share on this situation, no dazzling as my firm not involved in this one. I hold it PA. More a comment about how “II’s” are narrated on these boards that is amusing and a long way from the reality, although I cannot speak for all of them. I echo your view that sasa, Newk and others are good posters here and I enjoy their input.