Diversified Energy Share Discussion Threads

[marksp2011] 16/11/2023 13:13

alotto16 Nov '23 - 08:03 - 6222 of 6245

Laurence, reg. the CFO, DEC lied when they said the CFO left to pursue other career opportunities. He did not have another role to move into.

I worked for years for a large US tech. First week of january there were swathes of sales types leaving to pursue career opportunities elsewhere. i don't think any of them were expecting to be looking for that opportunity until the full year close on 31 December.

[plutonian] 16/11/2023 12:55

Aleman, that is the plan & advice from HMRC. I guess it will be dealt with in the Autumn Finance Bill 2023.

[bountyhunter] 16/11/2023 12:53

Is there any dividend tax payable for NYSE holdings held by UK citizens directly?
If not I may switch my holding to the NYSE when listed!

[tonytyke2] 16/11/2023 12:48

GaryCook, I think it was because DEC was only registered/listed in London that some banks/brokers charged withholding tax, Halifax charged 30%.

Perhaps if the main listing is now going to be on the NYSE, then perhaps these banks/brokers are going to have to re-think their approach to this.

[aleman] 16/11/2023 12:41

Thanks, Plutonian - but will that get passed before January 1st?

[bountyhunter] 16/11/2023 12:38

Incidentally there is already a USOTC listing so DEC is not out of reach for US investors currently.
...at the end of the header

Of course a full listing should attract a lot more interest however, especially given the yield, so I think it's a good move although the market seems to be unimpressed so far. On the consolidation I would have preferred a 1:5 or 1:10 than a 1:20.

[wildchild] 16/11/2023 12:37

GARYCOOK , I think its because IG is a spreadbetting company where you buy the financial instrument, (no stamp duty), and the others are brokers where you buy the actual shares.

[garycook] 16/11/2023 12:27

Cannot understand why DEC are subject to Stamp Duty on purchase of shares in the UK, when DEC are registered in the US HL,and ii charge, but IG do not charge. Make,s you wonder who is correct and who is wrong on this matter ?

[plutonian] 16/11/2023 12:26

It isn't...

Policy paper
Stamp Taxes on Shares — Removal of 1.5% charge on issues and transfers integral to capital raising
Published 14 September 2023

[aleman] 16/11/2023 12:12

Certificated UK shareholders will see old share cetificates become obsolete. They will have the opportunity to swap for new electronic DIs, like other Crest holders, or have new certificates issued which can then be traded in London or New York. (But something about a possible 1.5% Stamp Duty Reserve Tax. This used to be charged on non-UK companies traded in the UK and looks like coming back due to our exit from Europe.)



I've found this about 1.5% SDRT - to be reinstated Jan 1st 2024, er, unless it isn't?

[astreix] 16/11/2023 11:56

Does anyone know if existing investors will have the option to swap their UK shares with the newly listed US shares (presumbaly denominated in USD)?

[lab305] 16/11/2023 11:54

A complex company to understand has just become more complex. Consolidation of the shares is a bad thing as cheap shares are much more easily traded. Another flip flop just like the 2 buyback schemes. Remember this......
“2023, of course, we're already three months in but just, it will be a transformational year for Diversified. I will make you that commitment. It will not, it will not be a quiet year by any stretch of imagination.

In fact, you know, I'm 100% focused on three year strategic plan that will give investors comfort around sustainability of cash flows, dividend we’re highly focused on that. Some of them, the main initiatives of 2023, obviously the US listing is of most important. It will get done, It will get done.

That's number one, The market is very active right now, Lots of chatter, lots of stuff, plus calls, lots of things going on, We'll be focused on strategic opportunities, to acquire assets to look at ways to as we talked about earlier, enhance production, but also scale up in the regions we operate today and there could be opportunities to merge and to do things that is a little bit outside the box of what we typically will do.

But there's everything is on the table this year, we believe that the opportunity set is large. The other thing that we were going to really focus on heavily in 2023, is finding ways to get that value from our undeveloped assets. So we're having conversations with multiple parties about ways to joint venture to, to find ways to, to extract that value out of the ???????.

So, we will see opportunities there and there will be ways to to do that and announcements coming For the analysts, you're going to be busy with us. There's going to be lots of activity that you're going to have to keep up with. For our investors. It's going to be a big ride this year, an enjoyable one.”

The simple reason of why the share price is where it is is loss of trust and believeability . I have been very unhappy since the snap placing and stupidly held on thinking I would believe the above statement and give Rusty a chance .As the year closes none of the predictions materialised , consequently I sold after 6 years with a very large holding. Looking at today's news I'm not sorry.

[laurence llewelyn binliner] 16/11/2023 10:53

5th/11th December for trading in the US, so this has been in the making for some time around the board table..

Exciting times for shareholders, we will see what/if the demand is there as per company research and feedback (or wishful thinking) but it is only current shareholders who can fill the demand, and that can only be positive for the share price pre/post consolidation..

[carcosa] 16/11/2023 10:51

This is my understanding after reading through the Circular.

Depositary Interests (DI's)are being used to enable the duel listing.

It looks to me that the shares are being transferred to USA to avoid the creation of ADR's Ordinary Shares (other than those held by a Restricted Shareholder) will be deposited with The Depository Trust Company (“DTC”)

DI's are a financial instrument used to facilitate the trading of non-UK shares on UK stock exchanges. They provide a way for shares of a foreign company to be traded in the UK without the need to move the actual shares from their home registry. Here's a simplified explanation of how DIs work:

A depositary, typically a financial institution, holds the actual shares of the foreign company. The depositary then issues Depositary Interests that represent these shares. Each DI is equivalent to one share.

These DIs are then admitted to trading on a UK stock exchange. Investors trade DIs in the same way they would trade shares of UK companies. The trading, settlement, and custody of DIs occur within the UK's systems, making it easier and more efficient for UK investors.

Holders of DIs have rights similar to those of direct shareholders, such as voting rights and entitlement to dividends. However, these rights are exercised through the depositary. When dividends are paid, the depositary receives them on behalf of DI holders and then passes them on.

Having said all that, this will be transparent to all regular shareholders although there may be a few more hoops to go through if you are a restricted shareholder (typically US based, Affiliates, Directors, liens against shareholding, divorce settlements etc etc)

[bountyhunter] 16/11/2023 10:28

I hope you made the total divisible by 20 ;-)

[renewed1] 16/11/2023 09:11

I dont see how this can be anything other than positive for the share price....consequently have bought a few more this morning.
Good luck everyone!!

[imnotspartacus] 16/11/2023 08:59

If they know how to make money from acquisitions using a proven debt/hedge strategy why not keep doing it.

[bluemango] 16/11/2023 08:39

Clearly this is a positive development with the extra liquidity and exposure that a US listing brings, without the negative of a dilution.

And that's if there wasn't already enough reason for increased demand, with confirmation yesterday of the superb yield.

Expect the shares to close higher today, even if not by a large amount.

[bountyhunter] 16/11/2023 08:25

Pure guesswork and speculation unless anyone knows any details for sure other than what was stated in the RNS.

[tag57] 16/11/2023 08:21

Did the CFO move on if his own accord or was he pushed? Seems water under the bridge now.
Alotto, surely you have been in this game long enough to know that the reason given for the CFO leaving is standard verbiage to mean he was pushed. Who leaves a well paid and incentivised job for no new role, unless he was retiring.

[alotto] 16/11/2023 08:17

fordtin I know what I am saying about the CFO, he did not have a role to move into, but I don't know the reason for him leaving or him being fired.

[lord gnome] 16/11/2023 08:16

I would hazard a guess that the CFO's resignation was related to the US listing.
Today we find out why he left?

[fordtin] 16/11/2023 08:12

alotto – how do you know the ex CFO didn’t have another role to move into? Do you know him, or spoken to him recently?
For all I know, he may have resigned to pursue a life-long desire to work in a Walmart’s lingerie department.

[lord gnome] 16/11/2023 08:03

The market response on opening would appear to be..... 'meh'!

[alotto] 16/11/2023 08:03

Laurence, reg. the CFO, DEC lied when they said the CFO left to pursue other career opportunities. He did not have another role to move into.