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BLVN Bowleven Plc

0.165
0.015 (10.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Bowleven Plc LSE:BLVN London Ordinary Share GB00B04PYL99 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.015 10.00% 0.165 0.10 0.20 0.15 0.15 0.15 233,534 16:40:05
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Oil And Gas Field Expl Svcs 0 -2.02M -0.0062 -0.24 491.2k
Bowleven Plc is listed in the Oil And Gas Field Expl Svcs sector of the London Stock Exchange with ticker BLVN. The last closing price for Bowleven was 0.15p. Over the last year, Bowleven shares have traded in a share price range of 0.111p to 3.35p.

Bowleven currently has 327,465,652 shares in issue. The market capitalisation of Bowleven is £491,198 . Bowleven has a price to earnings ratio (PE ratio) of -0.24.

Bowleven Share Discussion Threads

Showing 91226 to 91246 of 92900 messages
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DateSubjectAuthorDiscuss
07/1/2019
16:59
Good afternoon winnet.

I just do not like the thought of having to give about a third to the tax-man...ouch

cyan
07/1/2019
16:58
What has been flickering through my mind is the use of the word "Proposed" notwithstanding that the special dividend has been approved by the Board. Is there any implication in that terminology or are they just being ultra cautious in case of any major unforeseen event in the next couple of weeks?

I have posted in the past that I was against any distribution of cash with a preference for it being held within the company as a major attraction for any would be predator post FID who would then be getting not just Etinde but $100m towards their share of development costs.

Now that a distribution and a healthy chunk of a one, is upon us it will at least put a focus on the company and its share price at a time when there should be a chain of significant and imminent news releases which should help cushion the price fall. Indeed, the timing of those releases is going to be particularly interesting and I just hope they follow and not precede 18th January.

warbaby43
07/1/2019
16:57
I broadly agree with others who have questioned this action. Then again, some of the idiots who backed COC kinda deserve what has come to them - all 15p of it. I am however pleased for LTHs that they got their 15p. In the end.

;-)

winnet
07/1/2019
16:19
I have had such capital returns before and the company's concerned made quite clear in their RNS announcing that the option to take as capital return via "c" shares or as income.

Its an awful RNS; OPAQUE!. One is left to think the worst and act accordingly.

cyan
07/1/2019
16:05
I'm quite sure there will be a way to treat it as a capital return. It would be pretty remiss if it had to be treated as income.
loglorry1
07/1/2019
16:03
Hi Cyan

I would have thought that given the large accumulated losses, this would be treated as a 'capital' distribution rather than an income distribution. Also I have held shares where the company gave holders the choice of treating as a capital or income distribution, to maximise tax efficiency ('C' share distribution). More complicated but definitely possible.

Maybe worth checking with the company if they intend to treat as capital or income dividend?

desha
07/1/2019
15:38
Am disappointed that a more tax efficient means of distributing cash was not put on the table.

For higher rate tax payers there will be a big price to pay.

Not considerate of large shareholders sitting on capital losses.

Oh well. They did say they would return cash; just disappointed at the lack of imagination as to the most tax efficient means.

cyan
07/1/2019
15:38
Sounds to me like we'll be having more interesting news before long ;-)
hot_topic
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.
obmuj
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.
loglorry1
07/1/2019
13:06
Yes you are missing something, the fact that the price will drop after 18th Jan
kbrook
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.

obmuj
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.

warbaby43
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.

benjimun
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.

cyan
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.

larry laffer
07/1/2019
10:18
Question is whether to re-invest divi or take the money as cash
lancasterbomber
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.

cyan
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.

bigboots
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.
billytkid2
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