Diversified Energy Share Discussion Threads

[kipper999] 18/12/2023 15:38

Where are you finding this data on NYSE:DEC please?

[roghart1] 18/12/2023 15:35

DIVERSIFIED ENERGY COMPANY PLC (DEC)
18.02 +0.85 (+4.95%)
Last Trade Time: 12/18/2023 10:17:20
LAST:
18.02
CHANGE:
+0.85
% CHANGE:
+4.95%
VOLUME:
614

[fordtin] 18/12/2023 14:52

First trade finally showing - 202 shares @$17.90 = £14.14 (70.7p in old money)

[cassini] 18/12/2023 14:49

The FTSE isn't delayed as long as that though is it?

It usually feels like about a 5 minute delay on the London market chart here when I make a trade, compared to my broker's feed, so I'd expect read across to the FTSE if things were moving on the NYSE.

However, I'll be happy to be proved wrong.

[laurence llewelyn binliner] 18/12/2023 14:43

Well DEC has popped up on the NYSE listing, opened up at USD17..We will see how many buyers are queuing up next.. :o)

[fordtin] 18/12/2023 14:42

Hi CASSINI, have you got a live feed for NYSE? Everything I've looked at is delayed by 15 minutes.

[cassini] 18/12/2023 14:40

No big rush then...

[scepticalinvestor] 18/12/2023 13:33

Dibs on mkt reaction once the yanks open?

[justiceforthemany] 18/12/2023 13:30

Nat gas +4%

[justiceforthemany] 18/12/2023 13:30

Trading at a discounted price here.

[bountyhunter] 18/12/2023 13:24

This will be the chart for the new NYSE listing, check back at 14:30!

[yaesu] 18/12/2023 12:39

www.nyse.com/quote/XNYS:DEC

[johnhemming] 18/12/2023 12:23

Looking at Edgar they were initially going for a listing in the US combined with a placement, but as the price remained low they decided to go just for a listing.

My own personal guess is that the plan at the right price is to buy Oaktree's interest in the joint venture for shares. That would probably suit Oaktree.

[roghart1] 18/12/2023 11:51

kipper999 - Hargreaveslansdown got me to fill in a W8-BEN when I purchased DEC a couple of weeks back.

[bountyhunter] 18/12/2023 11:33

Exactly, the pre-existing OTC listing is a red herring not on the main market with a different ticker and irrelevant.

[skinny] 18/12/2023 11:23

As posted last week, the ticker is / was already recognised on advfn.



And from todays RNS :-

"Diversified Energy Begins Trading on NYSE

Diversified Energy Company PLC (LSE: DEC, NYSE: DEC) is pleased to announce that trading in its ordinary shares will commence at U.S. market open today on the New York Stock Exchange (NYSE) under the ticker symbol "DEC" as part of the Company's previously announced US listing process. The Company will retain its premium listing and will continue to trade on the main market of the London Stock Exchange (LSE). Further, it is expected that the Company will also continue to be a constituent of the FTSE 250 index in the UK. No ordinary shares are being offered or sold in connection with the US listing."

[lab305] 18/12/2023 11:17

Last desperate throw of the dice to arrest the 16 month decline is the US listing. Why wasn't this done years ago when the company first announced that it was their intention ? In August last year they could have entered with a decent market cap.
The "enjoyable ride" for shareholders has turned into a year of slow torture. The main problem is simple . The very high levels of hedging meant that when other US gas companies were enjoying a bonanza DEC were just plodding along. Since gas has now dropped DEC is in a much better position but those other potential target gas companies still have cash reserves and have not been easy targets. Perversely if gas prices stay low DEC's prospects improve and it's normal take over strategy resumed.

[kipper999] 18/12/2023 10:15

I have sent them(iWeb)another email asking for clarification.

They have previously told me that....

"Ordinarily if you complete a W-8BEN form you will only pay the 15% Withholding Tax rate instead of 30% on US listed shares paying US sourced dividends."

But they argue that as DEC are in the OTC Index, this does not apply

[bountyhunter] 18/12/2023 09:57

It was over the counter only on the NYSE but that is prior to 14:30 today.

[bluemango] 18/12/2023 09:56

#6621

If you monitor the ticker NYSE:DEC from 14:30 today you'll know for sure that it's not just OTC.

[yaesu] 18/12/2023 09:55

Surely, although that was true then, it is not true from today as they will be fully listed when the Nyse opens.

[kipper999] 18/12/2023 09:51

So, is my broker iWeb correct that DEC are in the over-the-counter (OTC) index, & not the main NYSE Index??

"I am writing to you as I have now received a response to the eligibility check which I sent through on Friday, 8 December 2023 regarding the Diversified Energy stock which was listing on the New York Stock Exchange (NYSE) on 11 December 2023, our dealing control team have checked the stock now it is listed and although the stock is listed on the NYSE it is in fact listed on the over-the-counter (OTC) index, which unfortunately we do not trade on, and we will therefore not be able to offer this stock through our service, and we will be keeping the UK listed version which you already hold.

Please accept my apologies for any disappointment this may cause."

[topazfrenzy] 18/12/2023 09:33

Should slice through 1600 before long

GLA

[bluemango] 18/12/2023 09:09

Comment from Rusty:

"We expect the NYSE listing will facilitate increased ownership by US domestic funds over time. The executive team plans to undertake additional investor engagement to enhance understanding and awareness of why we believe that as the natural consolidator of existing mature assets under our stewardship-based strategy, we are the RIGHT COMPANY at the RIGHT TIME."

[fordtin] 18/12/2023 08:39

The buyback scheme is just about half way between announcement date and expiry date. Please highlight any errors in the following table as the data was entered manually and hasn't been independently proof read;



18/12/23
 
 
 




 
 
 
 


Shares bought back
 
 
421,653


Total cost of buybacks
 
 
£6,120,775.62


 
 
 
 


Average price (£)
 
 
14.52


Dividend saved p.a.
 
 
£1,155,755.70


 
 
 
 


% of original issue
 
 
0.868%


% of current issue
 
 
0.876%


 
 
 
 


Buyback duration (calendar days)
 
 
178


Buyback duration (days market open)
 
 
127


 
 
 
 


Average buybacks per calendar day
 
 
2,369


Average buybacks per trading day
 
 
3,320


 
 
 
 


Maximum buybacks Remaining
 
 
4,448,847


Maximum spend remaining
 
 
£91,279,224.38


 
 
 
 


Maximum calendar days remaining
 
 
188


Maximum trading days remaining
 
 
128