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From freetrade manager replying on freetrade forum
"Hi all
There was an issue with stamp duty on this stock that meant we needed to pause purchases. To fix the issue we had to wait until market close to turn trading back on. Trading should be as normal at market open tomorrow. The team will be reaching out with more details too"
The Oak Bloke reference (in the main) plugging costs
https://theoakbloke.substack.com/p/dec-iding-on-whats-real?utm_source=post-email-title&publication_id=1859293&post_id=140710114&utm_campaign=email-post-title&isFreemail=true&r=35hz0d&utm_medium=email
. "Enough liquidity to do a tender offer"
Have they got enough cash for that?
It's possible they could borrow enough money to buy back shares and using the dividends saved to not just pay the interest but also pay down the capital.
That's how ridiculous the share price is at the moment!
The spread is large but if you are holding medium term and like me, you assume the discount will narrow combined with the dividend you should have much to worry about.
This isn't taking into account the possibility of sale of assets with close to NAV return.
OR a merger which would narrow the spread anyway.
Krusty
Yes it would be silly to give shareholders a return before paying down debt.
Assuming they could pay shareholders before their/our lenders it would result in debt payments rising as income fell. Resulting in an inability to pay dividends.
Of course the lenders wouldn't allow it as there is no doubt a clause based on the LTV.
Anyway I will continue to enjoy the dividends while I wait for a return of capital. I mainly spend it on beer , how about you!!
ToS1963
"There will (hopefully!) come a time when they start paying us back. Which will also be reducing gearing."
Ridiculous statement.
Paying back capital to shareholders does not reduce gearing.
Pay back debt reduce gearing.
Paying back capital before reducing debt increases gearing.
THE LTV INCREASES
Personally I think some people are expecting assets to be divested to quickly.
It's going to be a slow process. Very slow even.
Enjoy the dividends while you wait and don't worry about the share price.
AND not only should you pay down gearing (debt) first they may have no choice. Why would the lender allow you to give out capital which the loan is paying for?!
Tos1963
"No need to be rude Krusty. There’s far too much of that on these boards, let’s try to keep this thread clear of that. What I do, and don’t understand is none of your concern."
Come on, you must know what gearing is?
"Whatever that means"
Really?