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Has anyone else received this?
If i understand correct, they're offering to buy back my current shares at a price TBA. Why the hell would i do that?
Where is this coming from? Has anyone got any info/news on this matter?
@Krusty, ah yes i see. under that assumption it tracks. but we're not there yet IMO(I hope). i'm not gonna agree or contradict the likelyhood as all of our input is quite equal here. But i understand the point of view.
i agree on the logic that it would make 0 sense to pay dividend if the bond was at risk. But that is also just our assumptions. What may be (il)logic to us, could have another reasoning behind it, that we have no idea of.
Maybe management was acting under the assumption of ongoing options and considered it a non-risk. Aside from this horrible RNS (lets assume forced by info leak), it could be that various options are on the table.
We can just hope that the RNS has not changed The terms that were already in motion.
@Krust. its not thou is it? 700+ in investments assets + the other assets (900m FY22) vs 500+ in liabilites.
Last reported FY(22) equity was 400m with a nav per share of +- 78p
Yes, the bond thing is not ideal, but we're still in a business that annually generates 35m in dividends alone.
saying its virtually worthless is a bit of an overstatement imo
Why would anyone announce this?
You either - stop trading & launch the raise - or - you announce the financing has concluded.
All this does is shoot themselves in the foot. Lower share price = bigger dilution & Better bargaining position for the banks
At glance - im afraid its UK thing -
Google says "A W-8BEN form means we can claim a US tax reduction for you on your dividends and interest from US shares. Withholding tax rates can be reduced from 30% to 15%, or to 0% if your shares are held in a SIPP. "
i read "if your shares are held in a SIPP".
We dont have that here. So i'm not sure if thatll work for me. ill continue my google search
Thanks for the quick reply thou
loooool - the story gets funnier. i messaged my broker and here it is:
is does not fall under uk tax code - cuz the activity is in us
yet, is also does not fall under the tax treaty with us (15% instead of 30%) cuz its not listed in the us
what the actual ****
any other non-uk residents holding this? or anyone with additional insight?
Broom - in Belgium - if i look for SIPP i get stuff for "Severity Indices of Personality Problems (SIPP)" & Prevention & Protection on work stuff etc...
Not surprising as i see that SIPP is a UK thing.
Thanks for the info anyway - its a shame we dont have similar things. Being Belgian citizen really sucks xD
I'ld be over the moon with "just" 15% Withholding.
As a Belgian citizen, i get 30% on Everything, Everywhere. As soon as i leave Belgium to pick my stocks, i get zapped with an extra % on top of the 30%
Can't wait to move :)
Thanks for the quick reply - its a shame its viewed as a US Company.
Whats the point of having it listed in UK then (guess thats another discussion)
One of the reasons i was intrested in this stock was due to the 0% dividend tax UK companies get...
Given the fact that its US company - i should get 15% from US and then 30 % in Belgium. Not 2x 30%
Hi,
As a dividend investor i was intrested in this stock cuz its listed in the UK and afaik, UK dividend pay 0% tax. However i was very surprised to see that i was withheld 30% on my dividend (which on top of that, i paid another 30% cuz i live in belgium)
Is this the same with everyone? Am i missing something.
My other UK listed stock who pay dividend have 0 tax (as they should)
Really like to hear your experiences or if i missed something
Lol Hexam - did you ever realize we're both Greek numbers, 5 & 6 XD
Cant believe i stared at your name for 1year+ and only come that conclusion now.
Gotta enjoy the little LOL's
The 35 million is coming from the new money - aka the new owners - has nothing to do with "the old money"
to quote the hearing : Moral is irrelevant :) & the new owners can do whatever they want.
Héy Hexam,
Well i hope you at least get that victory! i couldnt stomach waiting to see where the stock went & wanted to hedge the risk of it collapsing further. I'm relieved (somewhat) that this has all come to its conclusion.
it has indeed been a pleasure conversing with you & some other rare rational minds here. You guys have been the anker to keep our thoughts centered and focused.
And although in hindsight; we wouldve been better of selling at 2, 3 or 4p. I'm glad we stood for something & and that we live to fight another day. And if it were to happen, i hope we meet again under better circumstances haha
Take care & all the best !
Hexam it was not directed at you. and i'm happy to hear you are glad with getting another day to sell. I assume you & did the same and sold today while we had the chance.
Whatever miniscule percentage of hope that was left, got neutralized yday
Yday's hearing is more than clear. its game over.
Honestly - you should be glad its not suspended today. I know i was :)
Its insane how people are still buying this
If i'm sure of one thing - its that this won't go to c7. The judge is smart enough to pick c11 & secure the jobs than whatever reason he may have to let this go to c7