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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Adams Plc | LSE:ADA | London | Ordinary Share | IM00B986V543 | ORD GBP0.01 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 6.50 | 5.00 | 8.00 | 6.50 | 6.50 | 6.50 | 0.00 | 08:00:26 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Trust,ex Ed,religious,charty | -2.19M | -2.37M | -0.0162 | -4.01 | 9.48M |
Date | Subject | Author | Discuss |
---|---|---|---|
11/3/2008 16:35 | Strange, I thought they'd converted most of the cash to sterling, does this mean that they won't know the total amount they have to pay out until it is paid? | dangersimpson2 | |
11/3/2008 16:12 | Something which many of you will probably not be aware of is the amount of capital being returned tomorrow. As with most things to do with ADA it isn't straightforward. Apparently the dividend is being paid in US dollars and the amount is $0.5321 per share. You are then at the mercy of the forex markets as to how much you will receive in sterling terms. Using today's rates it equates to about 26.5p. I imagine it could vary markedly by the time you are actually credited with the amount. | nickcduk | |
09/3/2008 23:06 | Thanks Scurbs, Much appreciated. I must confess that I hadn't considered the issues of negative distributable reserves in all of this. I hear and take comfort from what you say, but (probably just being a little paranoid here) given the negative reserves they'd also presumably need a court order to reset the balance sheet in order to enable a dividend? I'm guessing that's not the case though as this would presumably also require another EGM? regards, gromley | gromley | |
09/3/2008 22:24 | Gromley, Thanks for the summary. In general the UK tax treatment will follow the overseas law treatment. I have seen no comment on the Israeli law treatment. However, I note that ADA has negative distributable reserves so on balance it should be treated as a capital distribution. This probability is increased by the fact that it is a court procedure which is generally required for capital distribution, but clearly wouldn't normally be needed for an income distribution. | scburbs | |
09/3/2008 21:43 | Hello All, You might be interested to see that I've precised the situtation in a post over at TMF I don't think I raised anything that folks here don't know already (although I should point out that I took a slightly more conservative view of the value of this first distribution - firstly assuming we only get £9.5m rather than £9.7m but also recognising that there are actually just over £1m live options - slightly more than just those accruing to Mr Jain - So I'm now working on 25.8p in this first distribution and c. 6.8p of residual value ) mrblogg though raises an interesting point about the tax treatment of this transaction. Anyone over here have any thoughts on that? regards, gromley | gromley | |
08/3/2008 14:02 | and then the October drops, Market is not looking good this year. The fun is over, but we didn't had any fun with adamind, Emblaze,.... | eenmakkie | |
07/3/2008 18:02 | Just before further falls in the summer doldrums?... | katylied | |
07/3/2008 16:17 | Maybe it's a good job that the cash didn't arrive quickly. In my case the 2 solid little companies I was looking at as a possible home for the money are 11% and 18% lower now than at the end of Jan. If the market falls more the cash could just arrive in time to pick up ''Tax year end" steals. | outsizeclothes.com | |
07/3/2008 09:07 | nickcduk - 19 Feb'08 - 10:54 - 793 of 814 Had a chat with Corfin. They told me the difference between the amount to be returned was due to currency fluctuations. I pointed out that sterling had not depreciated that markedly. Didn't really have an answer to that... And in fact, the £ is now back above $2... | katylied | |
07/3/2008 09:07 | Yes that was always my best case senario that they leave some money on the account so that the shares still can trade on AIM and the company with the little cash will be sold to an other that wants to list cheap on AIM for a price higher as the cash left. Thats the gamble I wanted to take by not selling the shares in advance, but do not think I am getting more money in total then if I sold a year ago with the Pound trading much higher against the euro. But first the cash distribution, I almost can't wait anymore..... Patiance is run out.... | eenmakkie | |
07/3/2008 00:08 | If 12th March is the record date then start of business the next trading day will tell what the rump is worth. I'll bet it's still 5p+, making an instant 'gain' on today's price. Perhaps the company has had an approach from a profitable co, with no need for the cash, but just looking for a clean shell to go public with ? | outsizeclothes.com | |
06/3/2008 21:40 | We got our announcement in the end. Although we didn't get much detail I am hoping all will be explained in the documents that will be sent out. I would expect a much more detailed announcement in due course about when the rest of the money will be returned and whether the shares will be delisted any time soon. | nickcduk | |
06/3/2008 16:53 | What is with 2 x 'posted'? The later concerning the actual distribution of funds. Haven't they got electronic transfer in Israel? A large part of the money will be going straight to brokers' pooled accounts... Oh, and a distribution by 'post' on 31st March, means that shareholders will not see anything until April, which last time I checked, is... 2nd quarter... | katylied | |
06/3/2008 16:30 | Adamind Ltd 06 March 2008 6 March 2008 Adamind Ltd ('Adamind' or 'the Company') Company Update Further to the announcement of 27 February 2008, the Company announces that it has received court approval for distribution to its shareholders of approximately US$19 million. The Company has set 12 March 2008 as the record date for the Company's shareholders entitled to participate in the distribution. Following the record date, the Company will post to its shareholders information and instructions relating to the distribution, together with certain forms to be completed by the shareholders in connection with the distribution, as required under applicable law. Once completed forms are received by the Company's paying agent, funds will be posted to shareholders on 31 March 2008 for forms received prior to 23 March 2008 and 13 May 2008 for forms received until 4 May 2008. If there is a need for a third distribution date then a further announcement will be made. Enquiries Corfin Communications Harry Chathli, Neil Thapar +44 20 7977 0020 -------------------- Hm most unsatisfactory announcment IMHO. No confirmation of the actual payment amount either in agregate or per share (approximately $19m doesn't help much) No confirmation of the payment mechanism (other than we'll send you a cheque - essentially) No update on the amount of remaining cash in the kitty nor when it will be paid. Still I suppose this is some progress. | gromley | |
06/3/2008 08:31 | Thanks nickcduk for the update, hope the end is near (payment I mean) | eenmakkie | |
05/3/2008 12:03 | good stuff, as ever, many thanks. | chrisdgb | |
05/3/2008 11:08 | I tried to pick up another 100k at 26.25p this morning but obviously had no joy. I spoke to Corfin this morning. Sunday was the last day for any objections to be heard regarding returning cash. None were put forward. They went to the courts yesterday showing that no objections had been made. Announcement expected later on today. Everything is on track. I guess MM have caught wind of the news and marked the shares up. | nickcduk | |
05/3/2008 08:31 | It is 5 March and still no news, Nickcduk do you know already some more news from Corfin about this? | eenmakkie | |
04/3/2008 09:56 | can we stop this scaremongering please, cash coming, in total likely to be 32-33p, simple as that. | chrisdgb | |
04/3/2008 08:35 | The Company expects to inform shareholders of the results of the application to the Israeli Courts for the first cash distribution on 3 March 2008 ??? It is 4 March today and still no news, what is going on? | eenmakkie | |
01/3/2008 13:58 | "expect the distribution to be made as planned in the first quarter of 2008 or shortly thereafter." It is the "shortly thereafther" that makes the price goos down!!! Was expecting they will go over the time limit. But what is shortly thereafther? A month or two or maybe a quarter or two. Lets see what 3 March will bring of news! Hope they come out wite a date of payment of the 19mill$. To long to wait that year..... | eenmakkie | |
29/2/2008 10:48 | tempting level now at the mid.. | chrisdgb | |
28/2/2008 08:40 | yep I agree with gromley about the 1st payment, expecting circa 33/34p in total. this should be going up not down. | chrisdgb | |
28/2/2008 08:32 | I hope you are right; that makes 34p a share | par12 |
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