Member Info for Onwardsandup

Contango - thanks for that, very helpful. Apologies if you think I am being pedantic but I want to have as much information as possible before challenging HSBC/Kenmare/Irish Tax Authorities. I'm also sure there will be a number of people on here keen to hear your thoughts/advice.

Like part of your holding, mine is through a Nom Co. If Jeremy Dibb can assist, why don't you go down that route with your SIPP position.

I guess what I'm asking is, is it well nigh impossible to reclaim it if not held in an individual account?

Thanks

My holdings through HSBC. I tried a few years ago and they weren't at all helpful. I think I'll have another go at them. I'd be interested to know if anyone on here has been able to claim it back, especially Cont, seeing he reckons its simple. Maybe I'm going about it the wrong way.

Saga - far from "simple". Good luck !!!!

https://www.revenue.ie/en/companies-and-charities/documents/dwt/dwt-claim-for-refund.pdf

Thanks Facevalue. I have contacted the Department that deals with Corporate Actions within HSBC and asked for an explanation which I'll share with you if I receive one. If they are wrong - very careless of them but the important thing is that the dividend still seems good

I've received a letter via the post from HSBC who I hold my KMR shares with dated 23rd May that states 'we're letting you know that:
Further to our letter dated 24th March 2022, the Company has now cancelled the cash dividend'
I can't find any RNS or reference anywhere online to suggest that being the case.
I am sure if anyone on here had received similar correspondence it would have been posted before my post.
Seems very strange. Hopefully some mistake by HSBC but that would be unlikely. Any ideas ???

I share your pain. We have both been invested here longer than we should have been. Very poor return....As I said before our fault or the BOD's fault?
You and I both know that in the past few years they stated that the Major Projects would be completed without further debt - didn't happen. more Loans.
To then once again sink the Company into further debt recently to ''pay off'' some shareholders is unforgivable. KMR could by now be debt free , instead they are being charged high interest rates to service loans that are not required.
Let's see the Banks interest charges in the annual accounts. That's straight off the bottom line profit which wasn't needed. KMR has the potential to be a top drawer Company, unfortunately ruined over many years by a very incompetent BOD, personally benefiting very well from their incompetence................

Observantken/tiverton

I share your frustration. I have long been a critic of the BOD and they should have been binned as one of the conditions of the rebirth that richtwotwo mentions. They have let long term holders (large and small) like you and I down badly for many many years, looking after their own self interests.

That said, it was us who chose to invest in KMR, not them so not convinced that we can fully blame an incompetent BOD for our investment mistakes. The phrase ''more fool us'' springs to mind. If we all got our investment decisions right we would all be multi millionaires.

At what point does it become a bad investment decision V ''BLAME THE BOARD'' Only you know the answer.

Prior to 2016 my loss was 90% looking like a total loss. I'm now ''only 20%'' down through buying and selling in troughs and peaks. plus the SP creeping back up.

Like it or lump it you're stuck with Carvill and his bunch of (non) merry men.

Invested for 15 years and expecting jam tomorrow. The definition of madness??? doing the same thing over and over again and thinking the result will be something different. Year 16 will be no different.

Sag - apologies for the delay in replying. Only one of us can be correct. According to my ''RNS'' feed here's the recent Director Dealings:

26th March Buy:

Carvill
McCluskey
Somers
Martin
McTtiernan

I won't bother detailing the SP and costs but if you don't believe me I'm happy to do so.

Apologies ??? - over to you.

I'll take no response or silence as your response.

PS Thanks for your apology.............

tep1 - calm down. The FTSE hit 7000, the other day for the first time in a very very long time. Dipping down and taking a breath is a) not surprising, b) not taking a battering and c) more importantly completely irrelevant to the SP of KMR.............

Interesting how everyone sees things differently and how everyone has a difference of opinion. That's what makes the world go round.
For what it's worth, here's mine.

Buffet - Don't be so lazy. DYOR. A simple bit of research will provide the answer to your very basic question.
Del - Not only was your answer blunt and short but also factually incorrect.
Tep - at least you tried to help but sadly you also got it wrong.
Contango - you sussed out that Del was as helpful as usual

If I'm wrong with the reading of the situation I'm sure someone will fire back at me. My understanding is that 5 Directors bought recently hence encouraging another rise in the SP. Hope that helps Buffet et al

PGee - the support for your observations, accusations and assumptions on this board is 100% underwhelming. Perhaps time for you to disappear? Two posts on here, both absolute nonsense - good bye

Not sure if this is of any help to anyone but here goes. I had looked online at the link that Matt had sent and looked into trying become exempt for non residents. If your Dividend is paid via an Agent or a Nom Co then it may be possible for them to pay the dividend gross of tax. There is a list of Authorised Withdrawal Agents. If anyone deals through one of them, you should be onto a winner. I deal via a Halifax share dealing Account. They are not part of the list therefore tax will be deducted. It only starts to become a financial issue as dividends start to ramp up. IWT at 25% is a fair chunk of your hard earned divi to be losing out on.

As an aside, mrmpagi - power supply has always been an issue, it's mentioned in nearly every update so it is very much talked about.

Thanks for the quick responses - my mistake. Looks like several hoops to go through before getting a refund or becoming exempt from IWT. I guess no Government likes handing money back !!!

UPDATE - Before I send everyone away chasing false information, I think I need to look into the tax situation a bit more. Looks like we've always been subject to IWT - even more careless on my part !!!
Any conformation would be greatfully received.......

Facevalue - It's interesting everyone's take on the results. The results are not great but we knew that was going to be the case. Any recent talk on here about special dividends or share buy back was always fanciful. I see it still as very much jam tomorrow. The only difference being that we now have a date for 'tomorrow'. ie. H1 results for 2021.
The increase in dividend has been wiped out (and more) by the introduction of IWT, presumably necessary after KMR withdrew from CREST. I wasn't aware of this change and if it was part of the EGM documentation then that's careless on my part. That looks like my morning occupied reading up on what it means to non residents of ROI and how to claim it back.

I guess I must be slow on the uptake. Why would Kenmare be paying either a special dividend or buying back shares? Both or either are usually announced based on the past profits from the year just ended. Profits for year end 2020 are not likely to be overwhelming so don't see either happening. Jam tomorrow - or maybe next year.

I'm grateful that a few long term posters on here have responded to my original (and first) post. Iv'e read on here for many years shaking my head reading posts from guys like BF, Peace1, Nosi etc etc 'throwing abuse' at each other. Over the years I have agreed and disagreed with all of them. We are all entitled to have an opinion. And we should all respect that.

Guys like Cap and Cont have always tried to punt 'this time next year Rodney' and then the facts would show that they have been wrong every time. Fingers crossed maybe this is their year.

Cont commended Cap for his eloquent comments. Maybe so, but I could equally counter that by complimenting observantken's responses. Some may rightly say that balance sheet's show the past, and they do, but they also state the facts and figures. Perhaps KMR have been guilty over the years of saying what they're going to do next year and never actually delivering.

Sound familiar? Let's see where we are this time next year. It's fair to say that over the past 10 years KMR have NOT been where they said they would be. I guess they have to get it right at some point.

Contango - as with everything, time will tell. Someone posted an excellent comment the other day that LTH's had been here many times before. I'm one of them lol. We were at circa £3.60 per share 5 years ago so whilst it is very encouraging where we are now I still believe we need to see what the financials disclose. Are you expecting an increase or decrease in year end profit 2019 v 2020 and likewise with the year end dividend ??

Solid sounding comments from KMR that can't be confirmed until we see the year end Financials. The rise in SP over the past 6 months has been far beyond any of our expectations. Drilling down in to their statement. It's still what we're going to do (jam tomorrow??) rather than what they've delivered. This time next year Rodney.....

Poorje - Richorpoorbeat me to it. If you get the chance, work your way through the Official Kenmare website and its various 'tabs'. Directors, Financials, Investor Updates/Calendar etc etc.

A lot of excellent information for you to digest and saves asking 'lazy' questions where the answers are easily accessible. Let's hope for more good news Wednesday morning