BigSwede
08 Mar 2016
Today's payment of 8p per share brings the total to date to £1.69. The duputy chairman bought shares just prior to "the end" at £1:88 per share. Either we are all in for a fairly good final payment in Sept or he must be feeling pretty sick right now!
Artji
15 Dec 2015
Re: Improved return coming "if the proceeds are going to be 200p per share in the next few months then why has the share price fallen?""I guess impatient investors see a delay in getting their 140/145p as a consequence"I suspect the initial fall was due to a shake-out of small investors who didn't want any hassle from holding unlisted shares. Some brokers won't handle such shares so it might be worth checking what your broker will or won't do. You may have to certificate your shares to get your name directly onto the share register.I suspect I'll have to do a similar thing with my Greenko shares as I put a chunk of my cash from the PUR sale into them. The 10-12% return I was offered on a similar wind-up seemed more secure, as far more detail was available at that time. As it happens it appears they'll each end up giving a similar return.Artji
Ytong
11 Dec 2015
Re: Deputy chairman purchase I'm very tempted to go along for the ride but like you at this level not buy in.What confused me regarding roc was the notification regarding insurance being paid as a special dividend, which I have to now understand is suprceeded.Thanks for your help.
pendil
11 Dec 2015
Deputy chairman purchase YtongYou are right.Their guidance is 188p of distribution but with the Deputy Chairman buying shares at that price he must be expecting more. I don't think I would pay 188p unless I expected over 200p of distributions.
pendil
11 Dec 2015
Re: Improved return coming A distribution in a liquidation is a return of capital. (Each distribution is a part disposal which means you have to allocate your cost between the distribution received and the remaining interest according to their respective values (i.e. 167p and [10p?] for the first distribution) at the time, which could become a little tricky after delisting, but HMRC would probably accept any reasonable estimate)
Ytong
11 Dec 2015
Re: Improved return coming It does not seem you were awry with the Chairman now buying at 188?The company will be delisted 7th Jan so information will be hard to come by.Do you think the what's paid will be considered a dividend or a return of capital? It would make a difference to me as I never usually get to use a capital gain allowance but always pay on income.Thanks
pendil
11 Dec 2015
Re: Improved return coming 188p return anticipated. Seems my calculations last month were a bit awry - I think I overlooked outstanding options?Still the good news is 167p of that is expected to be distributed around 11 January 2016, so overall 177p to 180p seems a fair price now.
noidea1960
24 Nov 2015
Re: Improved return coming They are looking to liquidate the company - read the RNS - subject to shareholder vote. I guess impatient investors see a delay in getting their 140/145p as a consequence but so what!
jayrocks
24 Nov 2015
Re: Improved return coming I am missing something here, if the proceeds are going to be 200p per share in the next few months then why has the share price fallen? or will we just get the proceeds of the insuarance, around 140p per share has been mentioned, but receive nothing from the sale of the remaining factory in Prescot? then it would make sesne for the share price to fall down to 140p region
Ytong
24 Nov 2015
Re: Dividend More a wise old investor.I'm sure you are right.
noidea1960
24 Nov 2015
Re: Improved return coming I agree.I reckon conservatively net proceeds should be at least GBP60m therefore at least 200p.So there is money on the table until ST does an update.
pendil
24 Nov 2015
Improved return coming Today's announcement of the sale of the US business explains why we have heard nothing about a distribution. It's disappointing not to have any guidance on the timing of a distribution in liquidation, but understandable. I would hope they will be able to say more at the EGM.Nevertheless it seems they should shortly have no debts and about US$ 100m of cash which is equivalent to about 230p per share. It ought to be possible for the liquidator to distribute the bulk of that within 3 months of being appointed. So a pretty good return in prospect with v little risk and a better outcome than a smaller return and being left with the rump US business.I'd expect the price to go higher once people have worked that out.
Artji
23 Nov 2015
Re: Dividend my calculations there are still something like 2m outstanding exercisable warrants & options. I've been waiting for the annual report to see how accurate my estimates are. I'd expect these to be exercised before the ex-divi date, maybe they're waiting until the directors, mainly, can rustle up the cash to exercise them.Just a thought from a cynical old investor.
noidea1960
17 Nov 2015
Re: Dividend i've reminded myself of the timeline for announcement of payment which is in the "near future" as from 16th October.When that is who knows but I would think before year end is reasonable.
noidea1960
16 Nov 2015
Re: Dividend Good question to which my good answer is....we dont know yet...they have not made such announcement.
