Member Info for WolfofWarks

Buffett wouldn’t touch btc - greater fool theory.

Btc doesn’t have any fundamentals. Which makes it fun as an investment.

Yeah so you’ll get your two additional shares but the SP will adjust to be a third of the price.

The dollar conversion works nicely in our favour as well with it being around 1.2.

It looks like we are getting two additional shares and then the share price will be split down to around $300 a share.

So no actual dividend just the mechanics to allow the split to happen.

Ooo - Glencore is one of my biggest holds and although it’s given some back recently it’s been a great twelve months even before all the Russia stuff started. A long term hold for me and a good play on the EV market.

I’ve got Rio Tinto, BP and Fresnillo in the mining/energy space.

Well her being appointed and the project being a flop don’t necessarily go hand in hand. She’s held high level public health positions so I would assume that but her in good stead along with her corporate career to heed up the project. The problem with track and trace was it was too ambitious and had to be put together in a flash. I very much doubt the project would have followed the usual disciplines required for such an undertaking due to the haste required.

Gives me bad memories of trying to deal with all the isolations being spat out by the app for all the people in my office. It was inconsistent to say the least.

None of those companies are majority controlled by oligarchs with alleged close links to Putin.

It’s not that difficult to work out surely?

A lot of the dividend perks and allowances have been removed over the last decade anyway so along with the badges of trade needed to keep running through a personal services company there's probably not much in it unless you earn over £100k a year (remember that between £100k and £125k your marginal rate of tax is 60%) or are a 45% income tax payer.

I haven't looked recently but the recent rise in employees national insurance has probably made the company option slightly more attractive.

Hi Jotom - good conversation this so hopefully folk don't mind that it's off topic.

Re the younger generations - they do have it tough but they are also the wealthiest 'young' generation in terms of assets, inheritances, etc.

I do feel sorry for those carrying heavy uni debts who won't earn the salaries to be able to pay it off quickly. It's like a permanent additional tax for 25 years.

Re Corbyn I think most centre onwards opposed him looking at the polls. I didn't vote at the last general election as for me it wasn't a 'proper' one. It was single issue around Brexit and by that point I didn't care which way it went just as long as it was dealt with.

S7ein - much of what is going on economically is out of the governments control. When the BOE put through what’s still a tepid rate rise the media are jumping all over it. No attempt to explain that un-controlled rising inflation is far more worse paying an extra £50 a month on tour mortgage.

They’ve not got many levers to pull either given how much bailing out the country during COVID cost us.

Jotam - I agree with pretty much what you have said there. My only point is that it’s highly unlikely that a labour government will come to the rescue of shareholders here. It would revolt their base.

Fwiw - I’m pretty centrist myself and have voted for both parties in the past. I hate the two polar extremes of both parties.

My one true belief on everything political is that the economy drives everything. So if you want for example higher public spending you need to create growth and jobs by creating inward investment rather than trying to tax the sh it out of individuals and companies, which has proven historically not to work.

I can’t stand Jeremy Corbyn and John McDonald and the kind of politics they stand for but like my local Labour MP who is easily accessible and visibly fights on all fronts for my local area.

For me the key is when you exchange for paper certificates is your relationship with your broker in respect of those shares detached? Because if so once you have your paper shares you are out on your own. Whilst your shares are in nominee accounts with your broker they have a duty to look after your interests and represent you on dealing with matters that the company put forward.

The biggest concern I would have is submitting my personal details to Evraz when it's quite possible they could become a private company based in Russia with alleged links to the Russian government. As much as you might not like the FCA what protections would you have in this scenario?

Do you honestly expect a union funded Labour government to have shareholders here best interests at heart?

"I've known friends in the past who owned their own company, and paid themselves dividends (basically wages)... in a legal tax dodge under the company banner."

It's not exactly a tax dodge to pay yourself dividends from a company you own. The tax dodge comes when you set up a company but carry out obvious employment. So for example IT contractors who only work for one client, in the same office, 25 holiday days, etc, etc.

IR35 has put a stop to a lot of that though.

"Wolf. Is EVR sanctioned in India, or China or many other countries? If not, if those countries allow payment of divi's or payment of loans and normal operation, does the problem not then become one of, "How does one turn and distribute shares pro rata in a LSE company into a non LSE company?"
Hopefully though this question will remain moot if things get better on the world stage."

You investment is in the Plc though which is the only entity that can pay you a dividend. Even if the whole shareholder base set up bank accounts in India for the payment of a dividend I'm pretty sure as a British citizen you will still be breaking sanctions.

If Evraz set up a new holding company in India it will still have to transfer/sell assets from the sanctioned Plc, I would have thought which ever way you look it's not viable, and if it was possible it would have already been done.

I'll caveat that with I'm obviously no legal expert!

The thing is surely if Evraz remains sanctioned paper certificates cannot circumnavigate the prohibitions on dealing with a sanctioned company.

You still own one share in the company which is not allowed to be traded and you are prohibited from receiving a dividend.

AIMs a cesspit, the Wild West.

Some quality pump and dumps going on with the small caps at the minute - SYME, CBX, etc.

Interesting that HL are removing shares from ISAs given the time they have taken to move to action.

I'd be amazed if they haven't taken legal advice on it.

My guess would be it's their interpretation of the rules. Perhaps because of the sanctions in their view the shares do not meet the criteria.

Perhaps it would be one of those matters that needs legally tested.

"For the avoidance of doubt, as some people get confused what "assets" PLC has, PLC's assets are its subsidiaries. In other words, in a liquidation, the shares in the subsidiaries would be distributed to the shareholders (after paying off bond holders)."
The liklehood would be that the subsidiaries would be sold off as all creditors would need to be paid, not just the bond holders and the UK government (crown preference is back) as well as other governments who are owed money (for reference look at the payments to other governments report.

Shareholders are right at the bottom of the pile whether you have a paper certificate or not.