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DEC Diversified Energy Company Plc

1,090.00
-25.00 (-2.24%)
Last Updated: 10:24:01
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Diversified Energy Company Plc LSE:DEC London Ordinary Share GB00BQHP5P93 ORD 20P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -25.00 -2.24% 1,090.00 1,082.00 1,087.00 1,108.00 1,084.00 1,084.00 39,248 10:24:01
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Crude Petroleum & Natural Gs 868.26M 758.02M 15.7334 0.69 523.7M
Diversified Energy Company Plc is listed in the Crude Petroleum & Natural Gs sector of the London Stock Exchange with ticker DEC. The last closing price for Diversified Energy was 1,115p. Over the last year, Diversified Energy shares have traded in a share price range of 822.50p to 1,937.00p.

Diversified Energy currently has 48,178,835 shares in issue. The market capitalisation of Diversified Energy is £523.70 million. Diversified Energy has a price to earnings ratio (PE ratio) of 0.69.

Diversified Energy Share Discussion Threads

Showing 9751 to 9773 of 10525 messages
Chat Pages: Latest  397  396  395  394  393  392  391  390  389  388  387  386  Older
DateSubjectAuthorDiscuss
09/3/2024
10:01
Scrim the look of it , I can surely say the DEC advisors know F. O. in short incompetent just how to make huge fees plus DEC Board hasn’t a clue what Option 2 tender Offer Scheme for private shareholders by cancelling or waiving goodbye to the Q3 div if one opted for the Tender Offer and in return giving 5% more on the share price - only Silly and Gullible fools fall did this 😂 😆
stevensupertrader
09/3/2024
09:58
Yes designed for major holders and a waste of time for small holders I agree.
bountyhunter
09/3/2024
09:52
All this talking about the odd
Pennies, when you can just trade
a few shares, the share is so
predictable, given that this more
or less follows the bid on NYSE.
The TENDER offer was either designed for major holders with their input
or Dec's advisors are incompetent.
because its a waste of time for
small holders.

blue square
09/3/2024
09:49
If the tender offer proceeds are subject to tax then I think that we need one of Einstein's descendents to solve this puzzle! Anyway it's not for me. Definitely a better bet to take the dividend for most PI ISA/SIPP holders imho.
bountyhunter
09/3/2024
09:49
Only provided some of the Shares were bought below the tender offer price to be decided on 26 March or.tender offer price around £12 otherwise better to take the div - No brainer imo
stevensupertrader
09/3/2024
09:45
In a SIPP as the dividend is not subject to the 30% witholding tax surely that makes it most likely that taking the dividend in full is a better option than taking up the tender offer.
bountyhunter
09/3/2024
09:45
Reclaiming back the tax from US is definitely no go , anyone here has tried to reclaim withholding tax from US and successful?????
stevensupertrader
09/3/2024
09:41
I was informed that both dividend and tender offer proceeds ( not net profit) will be subject to 30% US withholding tax unless In SIPP as US won’t know what the price you paid the shares however one has to reclaim later (providing supporting evidence) .If that is the case, 30%. withholding tax will definitely wipe off even the capital let alone any little profit . Why would anyone opt for this Tender offer unless the shares are held in the Uk SIPP ? - no brainer imo
stevensupertrader
09/3/2024
08:51
Further to the above as the dividend is in USD with the exchange rate not yet declared the break even price calculation (for those subject to the 30% withholding tax on the dividend) should really be in dollars. By break even I mean the share price at which taking the dividend or taking up the tender offer (for those subject to the 30% withholding tax on the dividend) would result in the same outcome.

So the share price at which taking the dividend or the tender offer would yield the same amount for those subject to 30% withholding tax on the dividend would be:

((0.875*0.7)/5)*100 = $12.25 which at the current exchange rate is £9.53.

It will be interesting to see if the average market price for the 5 business days to 26 March exceeds that level.

bountyhunter
08/3/2024
20:25
My DEC shares are in an ISA so as I have completed a W-8BEN I will receive a dividend of 68p * 0.85 = ~58p per share.

Let's say the average price for the tender offer in just over 2 weeks time is £10 (a fairly generous assumption) then if I had tendered my shares I would receive £10.50 per share.

However by not tendering them I will have £10.58 per share. Since even if I assume the XD price reaches £10 for the tender offer I would be out of pocket when held in an ISA or SIPP if I tendered my shares, it seems most sensible to do nothing and receive the dividend in this situation.

Things would be a bit different if I had 30% tax to pay on the dividend as I would then only have £10.48 per share after paying the 30% tax on the dividend vs £10.50 under the tender offer. However as £10 still seems like a generous assumption for the average share price (given that the tender offer date is not far off) even then it's a close call. I can only see the tender offer being of interest to large institutional holders wishing to dispose of shares without affecting the market as they do so, such as M&G possibly?

For any holder paying 30% tax on the dividend I make the break even tender offer price at the current exchange rate ~£9.53, since £9.53*1.05=£9.53+(0.68*0.7) i.e. ~£10.00 in total for either option.

Nai, dyor.

bountyhunter
08/3/2024
20:00
2wild - then you waived your Q3 div if successful and the div of 87.5 cts each share that went ex on 29 Feb 2024 , you kissed goodbye the div. GGOOD LUCK PAL
stevensupertrader
08/3/2024
19:29
What Hassle? I pressed 2 links and entered Number of my DEC to tender, on Interactive investor website Today.
Just after announcement. I increase my dec by 18% at 902p a share. Assuming unchanged share price will get half cost opurchase in tender at 947p [902 + 5%]. Effectively increasing number of shares by 9% at 857p, yielding 33%. I love attender. They are not just for institutional investors.

2wild
08/3/2024
19:27
I still understand your logic . You can too say that the shares you sold at 5# more and not entitle for the div which is at current price is 7.5% more than the 5% being offered . The shares can also go up more than the 5% and you cannot buy back - ALL IFs .
As for me , I won’t do your way unless share price went over £12, I would rather take my div and wait and have full control of the situation ie to sell in a later date ,
One world be better off getting the div if the current share price won’t go above £12 imo

stevensupertrader
08/3/2024
19:05
The point is that the tender price is higher than the current price - that's all that matters. I can always buy back my tendered shares in the market if I choose to do so.
So my question to fordtin does still remain relevant.
There seems to be a lack of clarity about whether tendering a small part of one's holding would result in all of those shares being purchased - that is the point. If not all of the shares tendered are purchased, but the loss of dividend then results on the non-purchased share, then of course yes, I understand that is not a good deal.
But the scenario I have put to fordtin would be a decent deal (ignoring tax effects for now).
That's what I'm trying to understand.

redsonning
08/3/2024
18:56
Redsonning. Unless your 197 shares that you bought less than the tender offer price , otherwise tell me what the point to let DEC to sell for you at a loss ???!!!!
stevensupertrader
08/3/2024
18:48
redsonning - I emailed a few questions to Diversified, including some along similar lines to yours.

This is yesterday's post from the other thread;

--------------------------------------

I posted the following 8 days ago;

If you email DEC with enquiries about the Tender offer, they will send the following reply;

"Diversified has engaged Computershare Investor Services PLC to act as Receiving Agent in the United Kingdom and Georgeson LLC as Information Agent in the United States to service holder queries such as this. I would encourage you to reach out to the appropriate Agent based on your geography and shareholding, at the contact information provided below.

Computershare Investor Services PLC
+44 (0)370 702 0151

Georgeson LLC
+1 866 889 3010"

If you phone Computershare now, you will be advised to call back later or go to their website.

The website will lead you through a web of irrelevent FAQ's.

When you eventually find "send an enquiry", you will get the following response;

"Enquiry Successful
Your enquiry has been successfully submitted and you should receive a response within 10 working days. Please await our reply before contacting us regarding your enquiry.
"


This morning I received the following emailed reply;

"Thank you for your recent communication.

Stockbroker
For your information, as you are not a shareholder registered on the Diversified Energy Company Plc register you will need to contact your stockbroker directly"


---------------------------------------------

While searching for the above post, I also found my first post after the offer was announced (made at 07:42 on 26 Feb '24) I highlighted the part that say's if you want the dividend, do nothing.
At the time I didn't realise that, for the majority of shareholders, that was probably the only bit worth reading!


"YOU SHOULD READ THE WHOLE OF THIS CIRCULAR, WHICH CONTAINS THE
MATERIAL TERMS OF THE RETURN OF CAPITAL, AND NOT JUST THIS SECTION,
WHEN DECIDING WHAT ACTION TO TAKE. IF YOU WISH TO RECEIVE YOUR
ENTITLEMENT TO THE Q323 DIVIDEND, YOU DO NOT HAVE TO TAKE ANY FURTHER
ACTION AND YOU WILL BE PAID YOUR ENTITLEMENT TO THE Q323 DIVIDEND ON
28 MARCH 2024."


-

fordtin
08/3/2024
17:19
fordtin - Thanks for your example calculation.
But can't you simply Tender 197 shares under the Entitlement, and expect to have all of those purchased from you for £2,068 and then receive your Dividend on the non-tendered shares of 2,803 and receive £1,939 in Dividend payment too.

What am I missing, or getting wrong?

redsonning
08/3/2024
14:27
It was always a waste of time for
small investors.

blue square
08/3/2024
14:20
I don’t want to sound rude but that is a fact
stevensupertrader
08/3/2024
14:18
Any price under £11 - better to do nothing - only mugs still think under £11 still a good thing .
stevensupertrader
08/3/2024
14:01
SuperSteven
Even if the price averaged
8.9P that would still equal
a tender price of 9.35p
i.e 8.9p +5% = 9.35p approx

blue square
08/3/2024
13:52
As US$ Weakened against the £ , Option 2 scheme will flop .
stevensupertrader
07/3/2024
20:12
"What's the point of Diversified Energy's tender offer?

Diversified’s tender offer has led to much discussion on several platforms. The general consensus seems to indicate the tender offer is a very bad deal for the majority of Diversified’s shareholders and has been primarily crafted to appeal to the share holders who were consulted prior to the tender offer.

If you weren’t consulted, it’s probably not for you!

If I accept that to be the case, my next question is;

how could the like of M&G and Blackrock make the deal work to their best advantage?"

continued



"Let’s do a few back-of-a-beer-mat calculations for that;

Ivor;
waives his right to 3,000 * $0.875 = $2,625 (@ $1=$1.265) = £2,075.10

tenders 3,000 shares @ at a tender price of £10.50 per share

has 197 shares bought from him for £2,068.50 being the nearest whole number

is left with 2,803 shares and £2,068.50, instead of ignoring the tender offer to retain his original 3,000 shares and receive his entitlement to £2,075.10 in dividends.

That seems like a terrible deal for Ivor, He’ll have donated 197 shares to DEC for nothing. Although it would be a great deal for the company and consequently all shareholders who don’t tender any shares."

continued

fordtin
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