Bowleven Share Discussion Threads

[hot_topic] 07/1/2019 15:38

Sounds to me like we'll be having more interesting news before long ;-)

[obmuj] 07/1/2019 13:10

thanks loglorry1 too. of course.
Must be "having a moment".

[obmuj] 07/1/2019 13:09

kbrook. thanks. derr to me) comes to mind.

[loglorry1] 07/1/2019 13:08

@obmuj if your settlement date is after the ex-special dividend date you'll pay 15p less but you won't get the 15p. No free money I'm afraid.

[kbrook] 07/1/2019 13:06

Yes you are missing something, the fact that the price will drop after 18th Jan

[obmuj] 07/1/2019 13:03

Am I missing something here.
If you buy at 30p today (approx) you get 15p dividend (+50%) on 8th Feb.
or
Buy on a T trade (ensuring timing of course)and bank the 50% for no outlay.

I've obviously got something wrong as "if it's too good to be true.....etc" comes to mind.

[warbaby43] 07/1/2019 12:52

One surprise is that it is via a special dividend and not "non-manipulative share buy- backs" as mooted in Section D of the COC Letter to Shareholders in Feb 2017 - must be a reason, I guess, but beyond my knowledge as to what that might be unless related to the £/$ rate. The other being the effective cut-off date being ahead and not in retrospect.

A big question that immediately looms, however, is how much of the proceeds to use on buying in at the new lower price.

[benjimun] 07/1/2019 12:21

A welcome signal to the market place and hopefully and will create some momentum in the share price, fingers crossed.

COC have so far been good to their word, will remain vigilant of course but this has alleviated the concerns I had on COC's motives.
I had reservatons when COC took over as to their true motives but continued holding as I though the risk was worth it, I will continue to have a healthy scepticism until a sale is complete.
However so far pretty good and as WSHAK says above, an activitst investor who can be trusted maybe able to rely on our following in the future.

[cyan] 07/1/2019 10:25

"a "special divi" isn't the most tax efficient way of using shareholders money."

If you have a lot of shares this is not tax efficient especially if you have a high average share price.

For some , it would have been better to hold on to all the cash until a complete sale of the company. There are some with potentially significant capital losses which would have negated a tax liability.

[larry laffer] 07/1/2019 10:19

Is that COC taking a bit of skin out of the game or a special dividend payment for long suffering shareholders. you have 4 options

1. ask the audience
2. phone a friend
3. 50/50
4. Ask "Thicko"

you decide

a "special divi" isn't the most tax efficient way of using shareholders money.

[lancasterbomber] 07/1/2019 10:18

Question is whether to re-invest divi or take the money as cash

[cyan] 07/1/2019 10:11

Great news ..for the tax man.

Very interesting and surprising development.

Raises questions as to the long term future.

I thought COC were holding on the cash so as to be in a position to "pay to play" , in any development; just in case we were not bought out entirely.

Have they already seen priced development options which do not require much capital, from BLVN, to advance development.?

Or ,Is COC supremely confident that a complete sale is certain?

Could a complete sale be much closer than we thought?

I remember , many many moons ago , Malcy claiming COC had a buyer lined up. That was way before the latest drill results though.

[bigboots] 07/1/2019 08:28

So now we know, return cash to shareholders and come out with a stunning drilling update, followed by a cash takeover at 75p

Simple.

[billytkid2] 07/1/2019 08:17

We have been valued at close to cash recently. Returning the cash will hopefully reflect a better valuation of the non cash assets.

[warbaby43] 07/1/2019 08:15

So an important fulfillment of a significant chunk of what COC put on the side of their tin back in 2016/17 and probably the one which caused the most cynicism and smearing.

Should be some very red faces about this morning among all those alleging that Konstantin & Co were about nowt more than running off with the cash and I wonder if we will see contrition and apologies, no breath being held though on that count.

[fatnacker] 07/1/2019 08:08

Looks like the prophesy has come true

[loafofbread] 07/1/2019 07:49

If someone wants to buy the company they had better get a move on.

Only problem being once this is paid we will be a penny share. Massive loss on my buy in price but a bit of cash. Not great.

[oilretire] 07/1/2019 07:46

Sure is. 15pps return and extreme confidence FID will happen.

[cyan] 31/12/2018 10:44

Reasonable volume today.

Should we be surprised that some are seeing the long term value?

Still little ETINDE asset value in the share price which is largely cash supported.