Member Info for StrollerB

Phimx: if they have not bought they automatically fall below 5% threshold 514m v 540m threshold.
This would require notification to UKOG and an issuance by UKOG of an RNS.

No RNS means they have bought 26m or more or they are in breech of market regulations

As at 8th April Tellurian held 514m shares or 6.16%

Now issued share capital has increased to 10.8 billion Tellurians notification threshold is 1.08 billion or 10%
and 540 million or 5%.
I think a foreign entity has 4 days to report a notifiable change in holdings .

One way or another we will know next week whether the have been a buyer or seller.

If we have no RNS i will be in touch with the FCA for breach of market regulations.

Just catching up so apologies if already discussed.

I see from the RNS at end of May T.V.R. have gone up by 326 million shares since end of February.
This takes the toal in issue back up to where they were at end of June last year.
Nice to know the employees are sharing the pain with the shareholders

Mirasol: the issuance of shares against the outstanding debt should be no surprise to you.

SS made it crystal clear at the EGM the authority to issue up to 3 billion shares was to ensure they could meet their outstanding liabilities. I reported this after the meeting. The only surprise was that they have paid some of it by cash.

Nash: interesting perspective.
I guess if we reach a point where the banks need recapitalising due to losses incurred bailing out businesses and house owners we will probably have bigger things to worry about than dividends.

I am expecting the final bill to the exchequer for the covid debacle to be between £500 billion and £1 trillion pounds.
Add on the cost of bailing out the banks and ........

At the AGM we were told that despite the 2019 dividend being cancelled the capital was still ours.
When they come to review dividends at the end of 2020 what are the chances of them paying out the 2.25p 2019 and the 3 quarterly payments of 0.67p due in 2020 . Total of 4.26p. or circa £3 billion ?

At the risk of appearing picky today's RNS contains an error.

Previous RNS declared a loan balance of £1.93 million
Today's RNS declared a balance of £1.85 million
Should read £1.855 million

Shares in issue are declared to the absolute number . So should the outstanding balance.
It makes a difference of about 2.8 million shares at today's issue price

Nash: the choice was protect the vulnerable and let it take its course or destroy the livelihoods of millions of people at the same time as wrecking the country's finances for at least a generation. This has been my view since day one and nothing has happened to change it.
Don't get me wrong , i have every sympathy for the politicians making the choices. Damned if they do , damned if they don't. Sympathy does not preclude me from disagreeing with them.

Jamesroo:
850k unemployed because of the virus. Wrong

People are unemployed because HMG chose to deal with the virus by locking down everyone.
In my view wrong choice.

lets be clear about the request to cancel dividends by the PRA.
In this respect they were acting as a proxy for HMG Treasury.

If HMG wants to control the availability of capital it should start up a National Bank.
It will not do that because that would involve two things that out weigh the desire to be in total control.
Investment and risk. Much easier to leave that to PLC's with the added advantage of the general public's love of bank bashing. Sadly they don't see the impact on their pensions and when they eventually do those responsible are firmly esconced in lucrative jobs for the boys. What's not to like. Oink oink.

So the AGM will go ahead behind closed doors in the presence of BOD's and hand picked employees (placemen ). + press ?
The rights of shareholders to attend have been unilaterally withdrawn. Is this legal ?

Having issued voting papers the BOD will decide which resolutions will be formally voted on. Resolution 17 will be withdrawn so no vote there. Can they really do this legally ?

Having asked for questions to be submitted they will be hand picked by the BOD and answered in a pre recorded webcast AFTER the AGM.

For any company of any size to behave in such a cavalier fashion is woeful.
For a Footsie100 company it is utterly disgraceful.

The Communist dictators of this world would be extremely proud of you.

AHO should resign or better still get kicked out at the earliest opportunity.

Sufc:
My previous email to Mr Radcliffe - Director Investor relations - concerned resolution 17 to which I have had no reply.

I.e. Voting for or against a final dividend of 2,25p
to douglas.radcliffe

Re 2020 AGM

Sir,

I emailed you on 4th May (attached below ) with a series of questions with regards to resolution 17.

I have just read today's RNS re AGM arrangements.

The questions I put to you are fundamental to which way I vote at the AGM.

It appears as if I now resubmit my questions in line with today's RNS I may get answers not only after the voting deadline
but after the AGM itself .

I consider this wholly unsatisfactory . There is nothing in my questions that can be classed as insider information nor do they relate to personal matters.

Please do me the courtesy of answering my questions in order that my votes are placed based on informed decisions.

If you are unable to do this please tell me why.

Respectfully yours

xxxxxxxxxxx

Bronco: No surprise . No reply. Do as you see fit.

I have copied my message to the Personal Finance Editor - MailonSunday.

Asking if he can get any response from Lloy.

ERV1 : I have no view on the legality or otherwise of the BOD actions.

Why put it to a vote if they intend ignoring it if in favour of payment ?
It would only get passed if the really big investors voted for it.
They do have the clout to get rid of the top brass if they put their mind to it.

Richard: it would be interesting to get Lloyds 2 biggest shareholders take on this.

Both stand to miss out on circa £82m a piece !

Bronco: I sent my email in the early hours of Monday. Would prefer if you waited till close of play tomorrow to give him a reasonible chance to reply. Will post tomorrow around 7pm answer or not. Address used douglas.radcliffe@lloydsbanking.com

Oxo: email I sent to Douglas Radcliffe - Director Investor Relations.

Sir,

As a shareholder since 2014 I was pleased with the final dividend for 2019 being recommended to shareholders at 2.25p (full year results announcement 20th February ).

On the basis of this I have purchased more shares as funds became available up to your announcement on 1st April when you acceded to a request from the PRA to cancel it.

However by this time I had already received voting forms from my broker with resolution 17 asking shareholders to vote for or against the BOD recommendation of 2.25p.

I subsequently had a second form stating resolution 17 had been withdrawn.

This was followed by a third form stating that resolution 17 has been reinstated.

To the best of my knowledge there have been no announcements either by RNS or through the media regarding the reinstatement. On the contrary it appears that cancellation of the dividend has been reiterated on several occasions in the media.

Is resolution 17 being put to the shareholders to vote at the AGM ?

If it is why has this not been made public ?

If the shareholder vote is in favour of payment
a) Can the BOD ignore the outcome and not pay it ?
b ) If a) is no will it still be paid out in May ?

I purchased shares on the basis of a dividend being announced by the BOD and confirmed in the Notice of AGM
. On this basis I believe you have a moral, if not legal ,obligation to pay the dividend. Subject to shareholder approval of course.

Respectfully yours

I wait to see if he is any more responsive than the ShareholderQuestions site

Several of todays 10m trades are labelled SINT which I gather stands for Systematic Internalisers . reading through the gobbledegook I think it means MM to MM. But I could be wrong.

Croq: as a non uk holder Tellurian only need to notify at 5% & 10%.

Assuming the full placement has been taken up and admitted and Tellurian have not sold or bought since last notification they now hold 6.06%, would need to dispose of circa 85million shares to get below 5%

Sufc: cancelled 2019 dividend.

Not according to my voting form they haven't