Member Info for TerryM1

The number and size of the contracts don't add up to a hill of beans if you are losing on them or making nothing, what this company needs is some profit. It has been eating itself alive since JL took over in order to keep going, now nothing left to eat so the only thing that counts is profit.

First of all it matter little what PIs do, it is the IIs which are important. I think this is aimed at IIs who want to reduce their position but do not want to dump a lot of shares on the market harming them by bring the price down of the rest of their investment.

There is no way posting to (in effect) an anonymous group of people advising them to act as a team will change anything, every person will make up their own minds based on their views and circumstance. It is highly unlikely many people will go along with a plan where they take a loss (even if it small) for the so called team and then have all the admin of dealing with CT etc.

For me it is simple, I will take the dividend and put it to good use elsewhere (I guess I am a selfish non team player), DEC was by far my largest investment a few months back but has dropped down the list due to SP crash. I am deep enough into losses here already and don’t want to risk more or take more loses of my own making and very disappointed with the BBs so far. If there are no other significant changes and DEC decides to go on a concerted BB plan I will consider adding some more.

For me in a SIPP I will lose if I take the tender offer, if in an ISA with WHT at 15% again it makes no sense to take the offer (unless being a team player means more to you avoiding more losses). There has been a lot of discussion about whether it is worth taking up the offer, for most no, however there may be a few where it works out if not in SIPP or ISA. There are so many individual factors, WHT tax rate (depending on broker), dividend tax rate, CGT position, even if resident outside of UK etc.

The offer will turn dividend to CG, 5% on top of your current gain loss if HMRC don’t think it is tax avoidance, however there is the possibility you could end up in a bun fight with HMRC. Some may wish to take a CT loss which can be used against other gains (10% or 20% depending on tax bracket), there are so many individual factors to give a general answer.

Still can’t understand why DEC do not do a dividend script issue, a lot who take up the script offer will keep the shares and money save in the dividend can buy back shares which will be cancelled so at worst a neutral affect but in reality more shares in the long term holder’s hands and less for shorting/day traders.

Clued

Certainly not an Idiot (GG) as we all know except for an exception, I only found out about fuels as I have a small farm and store diesel and use fuel in a lot of different machinery. I find there are not many people who realise how ethanol reduces the storage time for petrol and how bad it is for engines except for mechanics and those of us who use a lot of machinery.

DEC should BB as many shares as it can especially before the XD date, a clear signal must be sent to the shorters that up with this we will not put. Also accretive so medium to long term adds a lot of money into the balance sheet.

Just look at shell dividend yield 4.10% and borrowing money for large BBs, Shell like virtually everyone else believe interest rates will fall so adds value to the company.

Clued

"I've even thought of buying thousands of litres of petrol when price is low and storing it in a secure tank away from our house (we have the land) before it becomes harder to source the fuel but not sure of the legalities !!"

This is a very difficult due to regulations on storing petrol, also all the petrol you can buy (except in small amounts for 2 strokes etc and is very expensive) has ethanol (E5, E10) and will separate after a relatively short time (3 to 6 months) but can be extended for a lot longer if you use a fuel stabiliser. The regulations for storing diesel are not anywhere near as hash but again storing for over a year is not good idea. I use red diesel on my small farm and find I can keep it in drums if they are full and sealed it is OK. Once you open up the drum moisture from the air enters the diesel and bacteria go to work. I empty the drum into cans (kept full) and filleted before using as lumps are sometimes formed and also sometimes the bottom of the can is milky colour due to water and effect of bacteria. Not much of an issue for me as I have an old 1970s tractor and JCB which will run on virtually anything but cars especially modern day cars are much more sensitive.

Ethanol in petrol is a curse for me, 2 strokes (chainsaws, brush cutters etc) don’t like it and it also damages the seals diaphragms in carbs etc, since I have to use E5 I am rebuilding the carbs and replacing fuel lines on a regular basis. I understand it not too good for seals in cars in injection systems etc.

I do a similar thing to you with cars, I buy an old Japanese small to medium 4 wheel drives which are very low mileage and are in VGC, I don’t worry too much about the price if I get what I want. Kept in a dry garage service them regularly myself with good quality oil, drive carefully and they last many years, my current Mitsubishi Pinn is 2005, got it about 8 years ago and still looking good and running well, luckily is ULEZ compliant. Last Suzuki lasted me over 20 years and only had to give it up after it was hit in an accident.

On the way up

Numerco 10000/10250

"As we head towards ex div day with a roughly 70p dividend. The short total is going up currently 2.47%

Why? What is their game plan?"

To make money is the simple answer, IMO the reason behind this is most O&G companies are on large BB programs to counteract the ESG and other funds sell off. The shorters have come to believe DEC will only enact a sporadic and anemic BB and so far they are spot on, this emboldens them and more join the party. Rusty talks a good game but does nothing of significance.

"So a dubious company could split a short position of say 0.99% between two different financial entities and both could have less than the 0.5% threshold and not show up in the official short figures"

Not sure why they would do this, I would have thought the greater the amount of short positions reported the better to drop the SP.

Not a great reaction from the market, only puts the SP back to where it was less than 2 months ago. Hopefully a lot more to come.

Been following Cameco and Sprott Uranium Miners ETF after the Cameco results as they fell sharply from open at 2:30 while Numeco had mid price of 103 which it stayed at for a time, now 99.7 so Numerco probably an hour or 2 behind.

88v8

"Never mind, not my problem, I'll just continue trousering the divis and leave the next generation to pickup the tab :}"

From one of your previous post.

"already my largest holding. i moved everything into my isa to shelter the divis from tax.

just glad that i wasn't able to take part in the rights issue at 105 in old money. that slightly ****ed me off at the time, seems a long while ago now."

So it is your largest holding (or was) and you get the dividends with just the withholding tax, enough said.

STATEMENT RE POSSIBLE OFFER

https://www.londonstockexchange.com/news-article/SMDS/statement-re-possible-offer/16324471

Https://oilprice.com/Energy/Natural-Gas/LNG-Projects-Poised-for-Bumper-Season-Despite-Washington-Freeze.html

"Unlike DEC who cannot buyback more than 3 days in a row"

And even when they do at such low amounts it hardly does anything. Based on the the last 3 days of BBs even if it was repeated every day would still be far less than the 10% passed at the meeting.

This is a golden opportunity to increase NAV, burn the shorters and either use the dividends saved (in a few years) to pay down debt, make acquisitions or increase the dividend. So far BBs are the only thing that has worked slowing the SP fall, Rusty time for talking is over, step up have a concerted BB program.

"In the mean time, the buybacks will have saved a considerable sum through not paying dividends on the cancelled shares."

And from then on while DEC is still paying Dividends, If Rusty makes another acquisition as in his message he should explain to shareholders why this acquisition represents more value than BBs. As shown in the previous post and on Oakbloke it does not take a huge amount of cash to greatly increase the NAV and save 30% pa (if dividends hold) increasing NAV every year thereafter. Very disappointed BBs stopped again, Rusty talks a good game but where is the action on BBs? The BBs are so low I have spent more cash on DEC shares on some days the average daily BB in this round, no wonder the shorters are in control.

Slipping back but just the Ask

10400/10600

Https://www.proactiveinvestors.co.uk/companies/news/1040248/supermarket-reit-s-investment-grade-status-reaffirmed-by-fitch-1040248.html

"88v8"

This is of concern but the situation we are in is the SP is dropping far faster than the dividends, for me it is the overall return that is important, however I fear cutting back the dividends will cause the SP to fall faster.

Can't understand why there is no script dividends available, use the saved cash to BB shares, at the very least if the investors sells the shares they save WHT and no doubt some will keep them and more in the hands of long term investors not day traders.

"hope I didn't appear to be condescending"

Not at all, my mistake and good thing you pointed it out, we have enough misinformation going around.

Unfortunately not so good now

Numerco 10400/10800

"Not sure Securities and Exchange Board of India rules are relevant to DEC?"

You are right, it is not, came up when I was googling maximum share repurchase in the US and I obviously got this wrong, however Biden does seem to have it in for BBs.

From NY times

"Biden Renews Pushback Against Stock Buybacks"

It seems he wants to raise to 1% levy on BBs( he introduced) to 4% .