Boot (henry) Share Discussion Threads

[enami] 11/1/2006 12:17

edited

Pentland - no the stock will be consolidated to give an almost equal value after the special dividend is paid. Shareholders will receive 38 new for 59 old shares.
I am not sure of the shorting status here but I assume your derivative provider can clue you in. I assume any open positions will be automatically closed or the number of shares adjusted to reflect the consolidation.

[pentland] 11/1/2006 11:59

Can anyone help with this query please?
Presumably once the special dividend is paid out the stock will fall.
If you shorted the stock at 6.30 is this a guaranteed profit or is it not that simple.

[mr.oz] 10/1/2006 21:17

Hi Enami - many thanks for that - I never got round to requesting the details from IR , this didn't pass my way being a nominee account holder.

Latest time and date for receipt of Forms of Proxy and CREST Proxy Instructions for EGM 10.00 am on Tuesday, 22 November 2005
EGM of Boots 10.00 am on Thursday, 24 November 2005

Payment of interim dividend Friday, 20 January 2006
Expected date of Completion of the Disposal Tuesday, 31 January 2006
Record date for entitlement to the Special Dividend and for the Share Consolidation* 6.00 pm on Friday, 10 February 2006
Shares marked ex-Special Dividend* Monday, 13 February 2006

New Boots Ordinary Shares admitted to the Official List and commencement of dealings in the New Boots Ordinary Shares* Monday, 13 February 2006
New Boots Ordinary Shares enabled in CREST and CREST accounts credited with New Boots Ordinary Shares* Monday, 13 February 2006
Payment of the Special Dividend, despatch of cheques for fractional entitlements and despatch of certificates for New Boots Ordinary Shares in Certificated Form* No later than Friday, 24 February 2006

[enami] 10/1/2006 20:55

mr.oz

The expected timetable of events has been published long ago.
If you count T-20 from 13 Feb ( the ex-special div date )to 16 Jan I think you may find a peak will develop there as existing holders who do not want to pay the tax on the special div cash in their holdings to buy back in after the consolidation. Alternatively they could sell on Friday 10 Feb and buy back on Monday 13 Feb. Boots shares started rising on the last div pay day, but I think anyone reinvesting this year would wait until after the share cosolidation. Normal div pay day is 20 Jan I believe

[mr.oz] 10/1/2006 19:44

Yesterdays' news , but still having an effect on BOOT

JP Morgan Still Bullish On Boots Ahead Of 3Q
Monday, January 09, 2006 3:50:43 AM ET
Dow Jones Newswires

0743 GMT [Dow Jones] JP Morgan reiterates Boots (BOOT.LN) at overweight, with 700p target price, ahead of its 3Q trading statement on January 12. Sees "no obvious sign of increased promotional activity", thus believes Boots has "traded reasonably" over the Christmas period. Says a recent meeting with Alliance Unichem (AUN.LN) management has made it clearer what the attractions of the proposed merger are. Says market seems "convinced that Boots is dead money until 2H", but says the shares look "cheap on a standalone and merged basis." Boots closed at 622.5p. (PBA)


Will be pleased to see some actual clear information about merger on 12th - dates, divi's, XD date.. etc
This clarity would also benefit the share price

[elsworth] 10/1/2006 12:02

Maybe so....damn missed the short at £6.29..........anyway, will wait, just incase they get this one wrong like they they did with Next!!!!!!!

Plenty of shorting opportunities now appearing, especially with the recent rallies......i'm still waiting for a short entry on EMG and BGY.
They seem to have overclimbed.........a BIG PULLBACK is due....just can't seem to work out when................ANY IDEAS???????????

[pentland] 10/1/2006 11:10

Yes but the weekend press leaked that boots had a bleak christmas apparently
the worst in 5 years and the shares whent up first thing.

Could it not be the case that the the market has already discounted the bad news...

[elsworth] 10/1/2006 10:47

Yes...getting close to twmpting me on a 10k short

[ben nevis] 10/1/2006 09:57

Will this be a short soon ??

[mr.oz] 20/12/2005 12:49

seen that 2million trade go through at 650P?
20/12/05 17:33 650.0 2,000,000 L 0.0 0.0 ? 0 0 0

[mr.oz] 03/12/2005 19:37

UK retail in line for rosier Christmas


By : Allister Heath and Fraser Nelson December 04, 2005

BRITISH shops are on course to confound predictions of an "Armageddon" Christmas, figures out this week will reveal.

The British Retail Consortium, which includes most UK retailers, is expected to say on Tuesday that the decline in like-for-like sales abated in November and that overall sales rose strongly. Like-for-like sales, adjusted for the amount of retail space available in the UK economy, are expected to show roughly zero growth and be slightly better than 0.2% drop registered in October. Overall sales will grow by 3% -4%, the figures are expected to reveal.

Stock levels are sharply lower than last year, suggesting that, even if takings are no better than last Christmas, profits will be far stronger as store managers will have little left over by the new year sales.

The figures from the consortium come as the Bank of England's monetary policy committee prepares to keep interest rates on hold at 4.5% on Thursday, amid signs that the housing market is picking up. Howard Archer of Global Insight, said: "This interest rate decision is one of the easiest ever to call, with unchanged monetary policy a stone-dead certainty. If only all economic forecasting were so easy." The Institute of Economic Affairs' shadow monetary policy committee voted by 7-2 to keep rates on hold at its monthly meeting. Some members expressed fears of a slowdown and other worried about buoyant monetary growth and inflationary pressures. A poll of economists by Ideaglobal found 38% believe the next move in rates will be up and 62% say it will be down.

[mr.oz] 03/12/2005 13:10

Alliance UniChem-Boots Decision Nears -Numis
Alliance UniChem-Boots Decision Nears -Numis

Friday, December 02, 2005 7:37:19 AM ET
Dow Jones Newswires

1124 GMT [Dow Jones] The OFT is to give a decision on the proposed merger between Boots (BOOT.LN) and Alliance UniChem (AUN.LN) in 40 working days, says Numis. If the deal goes ahead, expects '06 combined pretax profit of GBP650M, putting the shares on a P/E of 11.9x, and meriting a market rating. Says Alliance has "a very good record," but needs additional capital for expansion. Boots has been struggling, and hopefully is starting to turn the corner, but now has an ungeared balance sheet. Currently rates Alliance UniChem at add, with a target price of 840p. Alliance UniChem -0.4% at 743p, Boots -0.4% at 596p. (PBA)

[j tuwatmoya] 01/12/2005 11:34

UK retailers facing worst Christmas since records began in 1983 - CBI

LONDON (AFX) - Conditions on the UK's high streets appear to be getting
worse, a closely watched survey found today.
In its distributive trades survey, the Confederation of British Industry
found that sales in November slumped to their lowest level since records began
in 1983. Expected sales over Christmas are also at their lowest ever level.
The survey found that the reported sales balance in November -- the
difference between those firms reporting sales rises and sales falls -- slid to
-35 pct from -18 pct in October and predictions of a modest improvement in -14
pct. Meanwhile, the expected sales balance for December fell to -23 pct.
"Any hopes retailers had of an early Christmas present have been dashed,"
said John Longworth, executive director of supermarkets chain Asda and chairman
of the CBI's retailing panel.
"Consumers have been extremely reluctant to spend money, and shops will be
crossing their fingers that the predicted cold spell and the rapid approach of
Christmas drive people through their doors and get the tills ringing," he added.
pp/ak

[mr.oz] 08/11/2005 20:07

thanks for the notes

I actually got a PDF to say the corporate action took place for my x no. of shares and I was entiltled to x no. of pounds ,subject to egm agreement - so was confused as I expected not to be hearing this figure already.

I'll write to IR @ Boots to clarify further

[enami] 08/11/2005 16:12

mr.oz

According to the interim results, the sale is expected to complete in early 2006 and the dividend will be paid as soon as practical after completion

I got a reply from Boots on my query about the special dividend (post 39).
Their answer is as follows

In coming to our decision to return the proceeds of the BHI sale to shareholders we considered carefully the options available to us. We also took advice from our lawyers and brokers. Their advice is that it is not practicable for Boots Group PLC to undertake a B Share scheme such as the National Grid scheme you mentioned as the company does not have a sufficient Share Premium Account which is required for such a scheme. We are also minded that for many of our shareholders a capital return is unattractive.
We therefore concluded that the only practical way of returning this amount of funds to shareholders is through a Special Dividend. I recognise that some shareholders will find this unattractive owing to their tax position but unfortunately there is nothing we can do to mitigate this effect. We can merely suggest to shareholders that they should consult their own appropriate independent professional adviser.

[lyndonjohn] 08/11/2005 15:30

The Mail on Sunday said it was February 2006, but didn't give an exact date. Perhaps it hasn't been decided yet.

[mr.oz] 07/11/2005 15:49

anyone got details of the special div X-D dates yet?
Am a nominee account holder so don't have the egm details ,,
appreciate the info..

[miata] 02/11/2005 12:09

Ex div 9.1p today.

[miata] 24/10/2005 12:55

JP Morgan today issued an optimistic note on Boots , ahead of interims on Thursday saying the recent sell-off has already discounted any merger risks.

It reiterated its OVERWEIGHT recommendation with a 6-month price target of 700p.

JP Morgan said it can see the industrial logic to the Alliance deal, particularly in UK pharmacy but noted that the tie-up is likely to remain stalled by regulatory approvals until mid 2006.

[careful] 21/10/2005 15:05

topped up at 607.

boots capitalised at 4.3 billiob
just sold some non core for 1.9 Billion.

leaving rump valued at 2.40 Billion at todays price.
this looks very cheap..why does the market disagree with me.?

[enami] 19/10/2005 16:30

Intraday auction triggered at 16:27

Very strange AT trades well above offer price with an intraday high of 639.5.
Suspect computer glitch with auction bids being allowed early as finished closing auction at UT 620.5

[penycae] 15/10/2005 12:09

Thought we might be on the way yesterday. Still blue finish, not bad, considering.....

[penycae] 14/10/2005 12:24

You might be right oz.