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The number of shares we get is fixed, has been for about 4 years !
The business of £15m max ‘capital reduction’ is a red herring up to about 3.8c or so, from memory, for the CAI sp. If the CAI sp gets higher, it’s great news for everybody. Yes, KRS might withhold some shares for our company coffers, but we’ll be much richer with the value in our CAI shares.
Surprised we couldn't maintain a bigger rise but no matter. This means imo that on distribution of CAI and KRS going 'EX' we won't crash down very much as we now have value.
The whole is worth a lot more now and imo it's certainly worth stocking up on more KRS at these levels.
I too have been with AJBell for quite a few years (before they started charging to hold one's portfolios). They are a bit reluctant to commit themselves on the CAI distribution but I've had reasonably definite advice from them that they normally will hold and trade Asx shares. They have also stated some of my allocation should go straight into my ISA, unless there is further news.
Similarly, no-one is 100% certain of the tax implications until later when the court has reduced the capital and allowed demerging. There may be some tax considerations for folks with pretty large holdings, but it's again wait and see.
Thanks for HL blurb.
I also got the impression that HL are just spouting standard stuff. Brokers need to set a cost price on both our CAI and KRS holdings post demerger. It's all pretty arbitrary anyway and the sp's will do what they will do. I am expecting the KRS sp to go down overnight on 19/20 November when KRS goes 'Ex' by about 30% and to drop further as STH's(traders, etc) sell - don't know where HL have now got 25/26 November from ?
Maybe the date they've got is from this circular :
Expected date of High Court hearing to confirm the Demerger Reduction 19 November
Expected Record Date * 6.00pm on the BusinessDay of the High Courtorder for the Demerger Reduction
Expected effective date of Demerger Reduction 26 November
Expected date for completion of the Demerger 26 November
Asterisk : * The Record Date is expected to be on or about 19 November 2019 and the Company will notify the firm date by Regulatory Information System prior to the Demerger becoming effective.
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Reckon they've got that wrong too as it looks like the Expected Record Date will be 6pm Nov 19th but we'll find out nearer the time.
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Not sure this 'Selling' actually is 'Selling' - the sp seems to have moved now next to nothing with about 3m more 'Sells' than 'Buys'. Might be Dave's trades working through still?! Did he say how he managed to get 19m without anyone noticing and all @ 0.4p - not an average price but an actual, exact price?
'Bout time we had a 'post' on here, so, surprising but good news today : Martin A thinks it's a very good time to have him monitoring and, it is true, supporting the share price.
Apparently, Artem and Bob Benbow were agreed this swap of their options for restricted share awards @ 33p in the 'incentive plan' a while back. That's good news too as the dilution is less with the smaller amount of shares awarded than their options facilitated.
Propinquity, remind me again of what nonsense HL spouted. I know it was CAI to be traded in London, anything else?
Jr - AJBell suits me, think you’ve got mis-information on £10,000 minimum trade, perhaps that’s the maximum online value not sure. It’s a broker for smallish clients I’d say, I’ve got one or two big holdings but mostly just £2k or so in most holdings.
Does seem strange to Sell KRS now prior to Nov 20, perhaps some folks see that as a long trading window?
That idea for CAI holders is pretty clever I think. If they say sold 290,698 CAI shares now they'd generate AUD 7,848 or £4,308.
With that they could buy 1,013,647 KRS shares
But just 1,000,000 KRS shares would give them 290,698 CAI shares, so they'd actually get more CAI shares than they started with in the first place AND they'd have 1,013,647 KRS shares !!!!!!!!
Strange but possibly true if the CAI share price holds up
They have secure messaged about voting on the Demerger - I've voted FOR all resolutions.
It's a nonsense about CAI shares being tradeable and listed in London. You have to trade them on the Asx which hopefully your broker will facilitate.
Markyess - think you've definitely got a lot of the confusion sorted there. Yes, we'll all own CAI Asx shares and there has to be a cost price so that the capital gain can be worked out when we eventually sell. So this is being worked out by a formula which is simply saying what we've paid out is now distributed between the two holdings, KRS and CAI.
With regards, extra value coming our way, there certainly will be when we own CAI shares that we currently have not been given. The sp of KRS will go down overnight considerably when they go ex-entitlement on the night of Nov 19/Nov 20 but not by the whole value we'll be receiving. Togo obviously needs to come in to make KRS shares valuable as their own entity but the prospect of the license and the successful Manganese bulk sample give a certain value. Personally, with no further news before Nov 19, I'd say there could be a 30% - 50% fall overnight in the KRS sp which only the license grant will restore.
With regards DR building up his KRS holding - fantastic, the more skin in the game our bosses have the more confident we must be.
With regards CAI being listed soon in London, I see no evidence and would certainly think this would be a needless expense for Calidus. My broker, AJBell, can allow me to hold CAI and will deal on the Asx when I require.
Plenty of Selling today that has severely limited the rise. Pi's presumably selling now as they have just over 7 weeks to the cut-off date to Buy back. I reckon the sp will reverse for a few weeks until we build up to Nov 19th. Be interesting to see where the low is in the range during those 7 weeks, I suppose not much below today's price which is an advertised false spread with the Ask clearly around 0.46p
Anyway, looking good for KRS holders - guaranteed payout now and every chance that CAI will rise again shortly or get Sold!
Worth Buying more iKRS n the next 7 weeks if one has cash as it seems a very cheap Bet on Togo coming good with a lot of upside to CAI and virtually no downside imo
When ‘proper’ shares go ex-divi, their sp goes down overnight by this amount. Similar will happen to us on Nov 19th overnight but by how much? Got to be a serious percentage at the moment and only if Togo gets the green light will it be limited.
Anyway, I won’t be trying to sell KRS or CAI instantly, the former when they go ‘Ex’, the latter when the shares do eventually get credited to my account. Better to wait as any rush for the door will not give the best prices