The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
This smells of HL's take on the situation.
Many other brokers disagree.
Personally, i think HL have over-stepped the mark with this treatment, they are merely agents.
As such, they should reflect the intentions of the company who is making the distribution.
Glencore clearly make these payments as a capital distribution.
Typical of HL. Perhaps why HL's share price has plummeted.
More rollercoaster cars around, than the prestigious AML ones.
Very sadly, we are now on the big dipper.!!
Lots of water at the bottom. But, we are far from awash with cash!!
All that water we are heading towards, is augmented by all sh's tears.
"............. we intend to undertake a fulsome refinancing exercise during the first half of 2024".
Fulsome, an rare used negative term, that conjures sarcasm!!
More red flag here, than in an F1 race.
Stroll is a very very determined guy, he desperately wants to avoid the black flag, by trying to buy time.
Sadly, more SP pain ahead, even after today's cliff top fall.
Haha, Son.
Nice one, that made me smile.
How right you are.
Posts usually deteriorate after 9pm, from all the drinkers.
But, with a couple on here, it can be any time of the day!!
I read it Zoros, albeit this morning.
Yes, what you say makes sense.
Ever since SD let Forest through the door, (at a price Forest told SD he would pay!), SD gave the reins to him.
SD is nothing more than the up front salesman now, doing his roadshows.
The muscle is behind the scenes.
GGP is out of it's depth now.
The Newmont consortium is huge, we won't even cause a splash in the ocean.
Yes, spot on Sirplace.
I'm sure there are a lot of songs that are appropriate to EUA.
Status Quo : Down, down.
Rolling Stones : It's all over now.
The Beatles : Penny lane.
Who knew all those great groups and great singles, were all the time about EUA.
But of course, prior to joining the Road to nowhere.
We were on this highway..........
https://www.youtube.com/watch?v=OcW-BSEB3ng
Agreed, storm in a tea-cup.
Minor change of promotion of number 2 sponsor, Aramco (i always think of the motorway barriers, Armco!1).
Plus, demotion of number 2 driver, Lance! His hissy fit at Qatar GP was quite telling New driver in that can perform.
Laurence will be desperate to see AM perform better next year.
All, IMO, of course.
Well, what have we go here?
i). A company that has never made money and gone bust numerous times.
ii). A mega rich chairman who can bankroll and call on others to pump loads of money in.
So, a recipe for an extremely volatile share price.
Dr P.
Yes, fully agree.
The case did relate to the divi's, as a consequence of the manner in which he had acquired the shares. As such, as a sop to forego salary.
I also think HL is being very cautious.
Whole heartedly agree that it is an situation between the individual and HMRC.
For me, the fact that Glen account for it as a capital reduction wins the day, and i have and will continue to treat it in a similar way, and thereby capital repayment and not dividend.
Glencore is, as we know, held in a different territory, hence no stamp duty on share purchase. So, for me, the fact Glencore's tax is treated differently, draws a parallel to the treatment of shareholders receipts.
Reflect the payments from Glencore, as you see fit, to HMRC.
Hi niklol.
Not had a chance to contact HL yet.
However, pennytraders note from HL is quite bullish and conclusive.
There is a law case where the shareholder is an employee of Glencore, and he took shares in place of remuneration. The capital distribution was deemed income. However that case has no relevance for a non Glencore shareholder.
I'll write to HL over the weekend to clarify.
What a carry on!!
Good spot, kieffy.
Yes, this should (but probably won't) rid this board of all the endless speculation on what NCM intends to do with Telfer and almost certainly Haverion.
Hopefully, the facts will emerge soon..ish.
This topic comes up every time they make a distribution.
Glencore term it a capital repayment and treat it as such. Therefore all brokers/intermediaries and sh's should treat it as such.
My 2 brokers,Bell and HL treat it as a capital repayment, correctly.
The court case referred to previously (not the one by Dr at 07.49) is in connection with a Glencore employee who took shares as remuneration. It has no relevance to us as shareholders.
Thanks Ron, very useful.
So in descending order of significance that is 5/6ths of the shares.
So, stating the obvious....
i). The rest of us have zero significance, and can't influence anything. Not even the cleaning fluid used in the loos.
ii). Understandably, Lawrence Stroll controls things.
iii). However, needs Geely and the Saudia's to sidle up alongside to win the day.
iv). In reality Stroll and either Geely or the Saudia's have enough weight to get approved any motion.
I've no issue with any of that.
In Lawrence we trust. Not that we have any choice, really. That said, he is very committed and determined. He's already binned quite a few other 'execs' that obviously weren't playing ball.
More time needed here, but we have come a long way in last 4 years.
Onward and upward!!