Member Info for richie1132

It looks like Gig has either reduced their short on L&G too under 0.5% or closed it out altogether to what the short position tab is indicating this morning.

Just a couple of points that I picked up from the Q&A video that's posted on the L&G web site that seems not to have been discussed.

Firstly: António Simões, CEO was very confident that they are going to achieve or over achieve every permeameter of the full year results that they have set for themselves ,when asked how he can be so confident he replied "we set them" :-)

Secondly: one of the questions mentioned that the drop in the dividend till FY 2027 was basically to allow the store of future profit which is a result of the new IFRS 17 time to catch up regarding release of said profits, when asked what happens in 2028 i.e. will there be more money to potentially return to shareholders, basically "no comment"

just a couple of imo interesting snippets that I picked up from the video. gla

JPMorgan raises Legal & General price target to 290 (285) pence - 'overweight'

Understanding a Store Of Value

A store of value is essentially an asset, commodity, or currency that can be saved, retrieved, and exchanged in the future without deteriorating in value. In other words, to enter this category, the item acquired should, over time, either be worth the same or more.

Gold and other metals are stores of value, as their shelf lives are essentially perpetual. For investors, interest-bearing assets such as U.S. Treasury bonds (T-bonds) qualify, too, because they retain their value while generating income.

Milk, on the other hand, is a poor store of value because it will decay and become worthless.

If the US is heading for recession it will hardly be noticeable imo

a bit of scare mongering going on to get investors to sell at low prices again, it will all be good after the US job figures later today imo gla

As soon as the BOE start to reduce interest rates the L&G SP will start to move north again, the SP will be closer to £2.50 by the end of the year imo and until then we are buying back more lower value shares to be cancelled, but saying that they seem to be struggling to find share to buy back this week, anyway we have the interims to look forward to in two weeks time .. gla

I've done a bit of research into "SLB, also known as Schlumberger Limited" .

it's an American oilfield services company.[As of 2022, it was both the world's largest offshore drilling company and the world's largest offshore drilling contractor by revenue.

I was just wondering why a massive company like SLB would undertake a relatively small contract with HE1.

one reason maybe is that they are involved with developing "Clean hydrogen production technology"

"Together with our partners in advanced research and industrial players, SLB leverages its established engineering and manufacturing expertise to contribute to Genvia clean hydrogen production technology. Genvia technology was created to enable organizations, industries, and nations to meet and exceed their decarbonization goals through large-scale green hydrogen production—without CO2 emissions"

Rukwa was tested to have 2.2% hydrogen flowing to surface without CO2. it just may be a coincidence though ... gla

I've just registered and it never asked for my email address ..

Https://www.shorttracker.co.uk/company/GB00BGXQNP29/

I wouldn't have thought a takeover was on the cards anytime soon with shorts being increased, but stranger things have happened I suppose gla

This is what was posted in the 2023 finals regarding the Divi, off the top of my head the 224% coverage ratio equated to 9.2b of cash.

" We have a strong balance sheet, with a Solvency II coverage ratio of 224%, and capital generation in the year of £1.8 billion. These have supported a final dividend of 14.63 pence, consistent with our stated ambition to grow the dividend at 5% per year to 2024"

I can't see any reason to cut the divided and in fact they should have plenty of room for a buy back or even a special divi. imo.

I'm expecting a c27p drop on Thursday and then we could get a modest bounce back on Friday if the "Gross domestic product (GDP) monthly estimate" figures are any good.

and then next week we have a plethora of figures being released that could move the SP one way or another -

UK labour market - 16 April

Consumer Price Index, March - 17 April

Retail sales, March - 19 April

I'm here for the dividends so I'll sit tight and enjoy the ride.

The final dividend is going to be c1.84p and I see no reason for it to be changed from now till a week on Thursday when it will be announced ...

Makes good reading on how this Motor Finance problem came to pass. imo the rules and guidance from the fca were not good enough and they actually admit that in this document.

https://www.fca.org.uk/publication/policy/ps20-8.pdf

And also I forgot to mention that having this £6m convertible debt structure in place strengthens TGR's bargaining position when negotiating terms for the Debt finance. imo

The actual wording of the "convertible debt" statement is as below, I take it that parts of the £6m could be drawn when need, hopefully not anywhere near the full amount will be required before the Debt finance is sorted.

"The Company continued discussions with various potential lenders and it has structured an instrument for raising convertible debt of up to GBP6,000,000 for meeting its working capital and investment needs for ramping up production and sales at its Madagascar projects"

Https://uk.finance.yahoo.com/news/china-blocks-exports-rare-earth-181424872.html

Ok I did miss something - but I can't see BAT selling anytime soon with the SP at the moment, not when most of the shares were issued when the SP was at £0.526 ..

"The Company announced on 3 April 2023 that part of the consideration for the Acquisition is the issue of 10,046,556 TG ordinary shares of £0.025 each to BAT covering a sum of AUD$9,750,000 (c.£5,284,500) at an issue price of £0.526 per ordinary share in two equal tranches with the first tranche issued on completion and the second traches issued on the 8 month anniversary of completion of the Acquisition ("Share Consideration").

I can only find this info after doing my own research and the addition of shares today is not 7.832m unless I'm missing something...

"Accordingly, a total of 1,285,952 Consideration Shares will be issued to noteholders to satisfy the July Interest payment"

Admission of the Consideration Shares to the Standard Segment of the Official List of the Financial Conduct Authority ("FCA") and to trading on the Main Market of the London Stock Exchange, is expected to become effective on or about 8.00 a.m. on Friday 8 December 2023 ("Admission").

Following the issue Consideration Shares the Company's issued share capital will comprise 108,252,664 ordinary shares of GBP0.025 each.

The above figure may be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

https://www.dailymail.co.uk/money/investing/article-9893405/After-lockdown-famine-tuck-feast-special-dividends.html
Justin Urquhart Stewart is cofounder of investment platform Regionally.
He says: 'Even if you don't feel confident identifying individual companies, you could look at a sector with a lot of issues in common.
'I wouldn't be surprised if most major British banks start paying special dividends by the end of the year.

There could be a forced seller having to selling up ... and that's why Lloyds could not do a share buyback atm .. I'm no expert but that could make sense ... maybe