Member Info for TerryM1

TW dividends are all part of of Mercuria draining down the TW cash so leaving large debits for SQZ.

If only the BOD of SQZ could could have such a policy of paying out the cash as dividends instead of buying debt with it, the shareholders would be a lot better of.

China has many advantages, one of which is their ability for bribery/corruption which is essential to get business in these 3rd world countries, also western ESG agendas, so all western companies lose out with the knowledge they have done the right thing while watching China take over everything with worse corruption and ESG.

Could it be they are working from home.

The dividends for returning cash to shareholders before the TW deal that the BOD have now conveniently forgot about.

But what about the dividends promised before the TW deal, what has he said about that, also what is the plan to stop the falling knife of a SP.

Also I am not sure the markets will have any confidence in this BOD doing any deals after this last fiasco, all excess funds should be returned to the shareholders until the BOD can convince the city that the TW deal was a success, the SP + dividends needs to go to 350p or over where it would have been without this deal and then they so can be trusted to make new deals. One caveat is that there should be no more deals involving Mercuria especially ones that involve Mercuria getting more equity.

I don't think I have been in such an ironic situation where a company produces great results and the price is held back because of a takeover offer no one wants except the offeror.

As we all known it is caused by the threat of accept my offer or I will take it private and you will all loss out, this sort of blackmail should not be allowed by the FCA but as always they completely useless.

eatsocks
"KamiKwasi's budget shafted the UK economy"

The mystery of how a budget which was never implemented could possibly have shafted the economy.

It shafted the economy because the establishment did not like, not enough tax and spend so they set about undermining it The BOE raised interest rates 0.25% just after the FED raised them by 0.5%, when US economy was doing better than the UK and then Andrew Bailey went outside his remit making political statements and criticised the Budget, remember that cuts were to follow so only wilfully seeing one side of the picture. After this it was certain money would leave the UK for the US dropping the exchange rate making UK inflation worse and undermining the Gilt market. Also BOE and FCA were asleep at the wheel (or asleep while working from home) as they failed to see the danger of LDIs which they had been warned about, then of course the LDI situation made it all worse. Job done by the establishment, only one thing to do now was get your man Rishi Sunak into No 10, can’t go with Rishi Sunak and another candidate to the conservative party (or the country) as he would never be elected so had to subvert democracy and get him in through the back door.

Rishi Sunak can give away vast sums of money at will, over £500bn during Covid and still doing it £0.5bn to the French this week but the KamiKwasi's budget was only cutting taxes but a very small amount compared Rishi Sunak give always but got hammered.

To those who think this policy of tax and spend will save the country take a look at the borrowing since Rishi Sunak became PM, also there is not one case in history where it has worked where the policy of less tax and spend boost economies every time. The only thing the establishment don’t like is Rishi Sunak policy on illegal immigrates, in the unlikely event that it worked they will set about him.

Looks like the usual insider dealing before the RNS which happens so often in the UK to many shares and as always the FSA do nothing about it.

Valpariso

Google split year tax treatment, should be of help for you to reduce UK tax. Also take a look at

https://www.gov.uk/tax-foreign-income/residence

Valpariso

Not taking any professional tax advice yet, I have a reasonable tax knowledge, I do all my own company accounts which is checked by an accountant and personal tax. I am looking at the tax position on possible countries that I would like to go to and once out of the UK will not pay any UK tax. This will start on the first 6th April after I leave the UK, i.e. any part of the tax year spent in the UK before I leave will see me subject to UK tax. Once not resident for UK tax purposes I can return to the UK for between 30 to 183 days per year with no tax liabilities in the UK. The number of days is determined by your ties to UK like owning property, children etc, the fewer ties the longer allowed.

In your case (must stress this is only my opinion) you are still resident for tax purposes in the UK until 5th April but be careful now long you return for.

Once not resident for tax purposes in the UK there is a HMRC calculator to give you guidance on time you can spend in the UK without liability for UK tax.

https://www.tax.service.gov.uk/guidance/check-your-UK-residence-status/choose-tax-year

But I must stress this is only guidance and will not give a definitive statement, as always DYOR.

Upomega

Have written to my MP a couple of time now of the last few years, surprisingly did get replies with usually excuses but reading between the lines seems my MP agrees with me. I taken this route as I am informed that the only things MPs take notice off is when a lot of their constituents write about the same issues so get worried about their jobs, would encourage more to do the same.

Also it is sad that my partner is a senior carer was manganging 3 care homes, performing care in the homes when staff did not turn up for work and does respite care at her home. Due to huge pressures during lockdown she left the care home job to work for social services at the council but still does care at home. The country will also lose her, but she is hoping to do some care work in out new country.

Totally agree Upomega.

I have mentioned this before but I have had enough and I can see this getting much worse. I retired 7 years early as did many of my friends due to the high taxes, now it is a lot worse with more to come.

The previous budget was the last straw, my partner and myself has decided we will be leaving the UK, it was a hard decision but believe I am left with no choice. Unfortunately it will be in about 2 years due to commitments but have already started on the move, I can only see the UK falling apart not only due to taxes but other socialist policies, overspending, borrowing, ESG, WOKE and government departments either on strike or working from home while doing the washing and ironing.

I have a couple of companies I still keep alive as I would pay too much in tax closing them in the UK and have deferred personal and state pensions. Once out of the UK will close both companies paying nothing in tax, take any capital gain free of tax, no dividend or income tax, transfer personal pension abroad which is now close to the lifetime limit (more tax if I stay) and take both pensions which will be tax free.

The government losses more taxes than it gains with this high tax policy, at least 7 years of taxes on my salary when I was at a peak of income and now I will take everything with me to a more friendly tax regime so it will lose everything including IHT, also I will get better health care, standard of life and nicer weather.

I am hearing that there are a lot of people looking to leave the UK for the same reasons as myself and younger people who can work anywhere in the world off to places like Italy and Portugal due to tax breaks.

Upomega

"Don't worry BP and she'll will do alright.The gvnmt will say what a success story BP is."

The government and Labour will never say anything good about BP and Shell, if they make good profits then calls for more WFT, but of course they will be alright as they have the foresight and sense to move most assets out of the UK, only about 5% of assets now in the UK. Can't blame them for looking after themselves and shareholders but the government did make them abandon their assets in Russia effectively gifting £25bn of western shareholders funds to Russia as a punishment. The government punishes me with more and more taxes, perhaps it should try giving me someone else's money as a punishment, may then get my vote.

The irony of it all is that the better BP and Shell do the more call for WFTs, more O&G abandons the NS and BP and Shell import more O&G paying the taxes at a lower rate elsewhere and the UK loses energy security. You could not make this up.

Well this is the deal (or should I say dud) that just keeps taking, now below the cash in the company before Mercuira swapped it for a load of debt and well below Kistos Cash offer on its own. The market has let us know what it thinks of the BOD, kept in place by their new best friends Mercuira.

To all of those who voted for the deal you we warned what would happen and you got what you deserve and I can only hope the investors in these institutions hold them to account.

As I said before the best option for shareholders was voting down this deal and quickly removing the BOB, now this is really playing in Mercuira hands, they will pick up more shares when they can and take it private for a fraction of the KIstos deal.

Barry5

"I'm getting a bit fed up with people suggesting to me that SQZ must good value now. In theory, that's right but decision making is letting them down badly."

Well the figures may look good value at this dismal SP but we are stuck with a BOD who few trust except Mercuria, they are proven liars (dividend) and have succeeded in bring in a deal for their own benefit which is rubbish for everyone else except Mercuria and the market knows it. Unless something very exceptional happens these shares will go nowhere for a long time. Even if the BOD is removed the market knows Mercuria's holding will stop this going back to previous levels giving Mercuria chance to steal the rest of the company off the shareholders.

I would have preferred SQZ to either stand alone with gas, keep their word and distribute the cash to the shareholders or spend it on O&G projects away from the greedy hands of UK Government without giving a predatory shareholder control of the company.

Remind me what was the cash potion before this deal and the current share price, about the same I think, this is no market drift but an out and out condemnation of the deal.

Dickupham

SQZ's directors should consider writing a book (OK - a pamphlet) entitled: "how to stop a rare success story for shareholders in its tracks in a single move - picking up significantly higher remuneration in the process"

SQZ shareholders can write a book, "Riches to Rags"

I would ordinarily write "dyor" at this stage, but no research on this is necessary - all seems pretty clear to me

Me also, and perhaps some of those in favour of the deal who voted us into this awful mess might start to realise what a mistake they made. Wonder if any of them are still searching for the apocryphal hidden treasure rumored to be buried deep in the Tailwind accounts. I pretty sure I know where it is now, deep in the Mercuria accounts.

Just got an offer to subscribe for shares for LSEG, the offer price will be announced at the end of the bookbuild process, it closed around 8pm tonight.

York Holdings II Limited are the seller.

BanburyBoy

“I'm 6.5% up on HBR and 4% down on SQZ. Differential 10%.”

“hope it goes well for holders but the deal represented moving from a known but comfy future to a giant leap into the unknown.”

Not sure it is that unknown.
• Gave a pile of cash away for debts.
• Bought assets at a much higher price than the ones owned.
• Gave control to a predatory company.
• Put money in NS when the smart players are pulling.
• Likely Labour government who said they will take away the use the losses that mean so much for this deal.
• Took a lucrative takeover of the table.
• Secured the BOD for a bit longer.

The only thing that is unknown is where is the hidden treasure in this deal that has been talked about, probably been shipped off to Mercuria one dark night.

Now share price falling against other players especially ones exiting the UK, not much of a surprise that the BOD are going to ground. But we live in hope of good news, otherwise will hold until I need to use the capital loses, all SQZ are good for at present.

Positive interview

https://finance.yahoo.com/news/primary-health-properties-very-robust-082249543.html