Member Info for TerryM1

Off topic but however said Aviva must have a crystal ball, i's flying.

Jim800

"They're not supposed to be doing BBs to manipulate the Share Price, its to reduce shares in circulation (though increase in SP might be a side effect)."

Really, in theory yes but what do you think happens in the real world, however you can and should do them to get best value for the shareholders.

Also I have noticed on a number of days recently the SP start a little higher and then in about an hour goes negative, I would wait until it stabilises at it's low say around 20-30 minutes and start the Buybacks.

I worked in the city most of my life and been trading shares for over 40s years but obviously not as knowable as you as no doubt you are one of these highly paid investment brokers.

Still what do I know been losing money on this share,

If the SP is down first thing against the FTSE 250 start Buybacks keep them going until a decent rise. The more it is down the against the FTSE 250 the more should be bought, don't mess about with a few hundred thousand a day up this to 1M or more when price is low, give a clear signal to the market that the share is being supported.

Jim800

"Criticising size, cost and timing of BBs with the benefit of hindsight is pointless and stupid. Anyone can make a fortune trading yesterday’s price movements.

They probably wait til PM to see where US market is heading."

It is not hindsight I certainly stated this before this weeks Buybacks like many others, also the timing does not match up to US opening

2 Oct started 10:12am

3 Oct started 8:44am

4 Oct started 12:32pm

5 Oct started 2:41pm

"Alessandro"

I wouldn't be bothered by the purchase at 72 rather than 67, its only for a handful of shares on a one single day. The concerns here are on the long term accounts."

That is a 7.5% difference, I would take that at a goods days profit.

I take your point but it reflects on the competence of those doing the Buybacks, why start at 2:41pm when the share price is already off the lows for the day, do they just do this when they feel like it or wake up, otherwise it makes no sense. Why Buyback 500,000 when the previous day only 200,000 and the price was a lot lower 66.43p average. This does not feel me with confidence that whoever is making the purchase knowns what they are doing but seem to be taking a random approach and we are not getting best value and the maximum bang for our bucks.

It is my money and yours being spent and to paraphrase, a 1p here and a 1p there soon adds up to real money.

Already contacted DEC twice in the last few days, urge all shareholders who are unhappy with low level and timing of buybacks to do the same.

Sill wait for reply.

Trade volume huge this week,

5/10 22.12m

4/10 14.33m

3/10 8.83m

2/10 2.5m

Not sure what the average is but at a guess around 2.5m a day. October volume is already 47.77m against September 48.43, a lot going on.

500,000 Buybacks with these huge volumes probably does very little in itself but it is message that is important.

Also important to buyback as many as you can while the tax is at 1% not the 4% planned.

Another day when Buybacks started late at 2:41pm, they missed the lowest point with the cheapest being 67.1p and average 71.2p, as already said make no sense to buy only 200,000 the previous day when the price was a lot lower and crashing then buy 500,000 at higher prices.

Is it DEC controlling the when the Buyback occur or a broker, whoever it is need to review their strategy urgently.

The good news is that they have up their game with Buybacks, given a message to market and saved cash with dividends but IMO still nowhere near enough at these prices.

Gas now $3.128 +0.166 (+5.60%) today

71.5p now.

Hopefully this is the beginning of the end to this madness all my high yielding shares are up but DEC up a lot more than others.

"winthrop"

To keep it easy, if $ dividends are involved then give Halifax/Iweb a miss, its not worth the trouble ;-)

Also may wish to Interactive Investor a miss if you want you dividends in £ as they will only pay in $ and then charge 1.5% if you want to convert these to £s. They do however pay free of tax in a SIPP.

TheLoaf

There are many ways to prevent this type of crap. There are as lot of debates on shorting and I think it should be banned which will also remove the practice of large funds lending out the shares for shorting to add to their profits at the expense of their investors.

Other ways

Increase the capital gains on assets only held for a short time and reduce/remove it for assets held for a long time and/or go back to index linking capital gains tax allowance.

Ban or increase rules and taxes on derivatives like CFD and spread betting (which can be tax free).

Margin trading is also an issue causing a number of forced sellers as was seen with LDIs which mostly caused the mayhem after Liz Truss Budget.

However this will never happen, most governments are useless and have little understanding of the markets.

Markets are not for investing in anymore, they are for gambling.

Alessandro

After the RNS I think we can be fairly sure there are no reasons which are to do with DEC. Probably a distressed seller or one with new ESG rules means they have to get out of Oil and Gas. Or perhaps as has been mentioned Open ended funds suffering a lot of outflows which seems to explain a lot of quality companies SP and rising yields. It could be all 3.

SP down again, looks like a big seller is taking every opportunity of any rise to unload, so depressing.

Andy144

It is difficult to know what drives the Buybacks, there is a lose correlation between the SP and Buybacks, before it was when it got below 85p but that has now changed, made no sense to only buy 200,000 yesterday especially with SP and high volumes.

PIKEMAN agree but Rusty must know he cannot buy assets cheaper than DEC shares but seems to dislike buybacks of any significant amount. There are only 4 ways to raise cash to buy more assets.

1. Borrow more which is not a good option with high interest rates which will continue for a time.

2. Place more shares but the share price must rise substantially and a large programme of buyback will help especially reducing the dividend costs and hopefully put a floor on the SP which will inspire more confidence in buying in at a placing.

3. List in the US but has been dropped and not likely to come back for a long time given the SP.

4. Cut/cancel the dividend and use this cash, not really an option.

Seems to me for this company to expand the SP must rise so IMO all available cash should be deployed on the buybacks.

Andy144

"If someone at DEC has to give the nod to each day's buyback then that might explain the late purchasing."

I assume this is not the case as it started 8:44 on Tuesday and 10:12 Monday, perhaps they were having a duvet day.

Gavster-NBC

“What I take from here : It's a vile part of discussion boards when we see relentless doomsayers dancing on other peoples misery.”

You always get a few revelling in schadenfreude, however I do not get too concerned as it is to be expected. I feel sorry for these people, they cannot afford to buy shares, if they could given their comments they would have got out a long time ago and moved on or as been said shorted the shares. They live sad lives with nothing else to do and are beset by jealousy for those more successful.

The RNS was needed if a bit late, good news except it has now removed the possibility of a US listing however given the share price that would not happen for a long time.

Somewhat disappointed to see only 200,000 shares bought yesterday and did not start until 12:32 and only bought 15,000 when price below 66p, why sit on your hands watching the share price collapse. It is especially disappointing given the price and also the huge volumes, over 14.33m yesterday and 8.83m Tuesday. Why are they holding back? I really hope this is the best opportunity for buyback in which case they should have bought a whole lot more. DEC should buy as many as they can at these prices can only be good for the future as a lot less to pay in dividends.

Also would like to have seen some news that DEC are considering increasing buybacks if shares stay low.

I unwitting read GG las post and I must say for once I am in agreement, a reasoned post.