Diversified Energy Share Discussion Threads

[2wild] 10/3/2024 11:09

Stevensupertrader. Gold was sold off in 1999, 9 years before Royal Bank of Scotland was bailed out.

[fordtin] 10/3/2024 11:07

Gordon Brown flooded the gold market and effectively carpet bombed the price of gold with a series of 17 pre announced auctions, which took place from July 1999 until March 2002.

The Euro was launched in Jan 1999 as an invisible currency which was extended to coins & banknotes on 1st January 2002.

A bit of a coincidence that Europeans, who may have preferred to swap into gold instead of swapping into the Euro, which for all they knew might’ve nose-dive against World currencies, were faced with the certainty that Gordon was going to continue suppressing gold price throughout the Euro launch and beyond.

Was it really a coincidence, or was that the price of keeping the British Pound?

[2wild] 10/3/2024 10:18

Gordon clown flagged he was gonna start selling gold when the price was 800 USD. In the end, he got 276 on average with a 256 low.

[bountyhunter] 09/3/2024 19:29

It was a spend spend spend era thanks to Blair & co which seemed good at the time but which turned out to be short sighted leaving the Torries to pick up the pieces. GBs other option would have been to resign; he didn't last much longer than Theresa May in any case with both having made bad decisions!

[stevensupertrader] 09/3/2024 17:55

At the time , Royal bank of Scotland was going under and needed rescuing and the £ was under pressure . Alistair Darling , the Chancellor ,under Gordon Brown had to rescue Royal Bank of Scotland one way or another failing so would result in the collapse of the £ and rocketing interest rate .

[stevensupertrader] 09/3/2024 17:35

I can talk Politics with you the whole day as I can see you are fairly in tune . Gordon Brown had not much option left for him except to asking Bank of England to sell the gold due to the financial crisis developing as Govt borrowing and debt reaching all time high . Remember when Conservative came into power , someone left a note at the Treasury quoting no more money left .

[bountyhunter] 09/3/2024 17:17

Good for you and others at the time but bad for those affected by the reduced stock of council housing today. Clearly a vote winner at the time but rather short sighted imho.
I'm not saying I prefer Labour policies by the way as both parties have a lot to answer for, as for example GB selling our gold and at a low price.

[stevensupertrader] 09/3/2024 17:17

I was then a staunch Labour voter and since Maggie became PM. I switched to Conservative and never look bad since .

[stevensupertrader] 09/3/2024 17:09

Well, I was then a poor working class living from hand to mouth and renting in a tiny room in 1976 . By her policy , I benefited and took advantage and now owning several properties in London . I don’t have anything bad to say about her policies . I stretched out both hands to embrace her capitalist policies 😊 .

[bountyhunter] 09/3/2024 16:49

Well I'm not sure about that, good for tennants who could afford it but that policy decimated the stock of council houses available. The only thing worse than selling the family's silver was selling the family's gold - Gordon Brown sold off half the country's gold in a series of auctions and did it when prices were low!

[stevensupertrader] 09/3/2024 16:07

But She made many normal working class became middle class by her privatisation policy otherwise she won’t have lasted 3 terms plus her housing policy too made many reliving in Council flats to buy their own homes and that another of her good policy 😂

[bountyhunter] 09/3/2024 15:59

I wouldn't say that; DEC produces in one of the most stable economies in the world as opposed to a war zone.
As for Thatcher I wouldn't pay attention to her ideas either, look at how many of the privatisations have worked out!
Results will be down as gas prices have moved lower but largely protected by the majority of production being hedged.

[stevensupertrader] 09/3/2024 15:27

Anyway no one can buck the market ( quoting Margaret Thatcher words ) . If result in the 19th March is bad and div is cut - DeC share price will fall, hoping this might not be the case as I already lost 60% of this investment and if result is bad and DEC cuts its div , I need to kiss goodbye to my remaining 40% investment . DEC is similar to POLYMETAL when Russia invaded Ukraine two years ago .

[stevensupertrader] 09/3/2024 15:18

At this stage , DEC is paying more to cancel the shares . My view is that DEC afraid that if share price kept on spiralling down before this scheme was announced , its capitalisation will be affected and afraid it might go under then its banks will call in their loans due to debts would be several times more than its entire shares capitalisation rather than anything else .

[bountyhunter] 09/3/2024 14:59

Of course if the price does go to over the levels mentioned after results the tender offer suddenly will be a great opportunity for large investors. They may take it up anyway to avoid progressively lowering the price when disposing of a large number of shares if any wish to reduce for whatever reason.

[stevensupertrader] 09/3/2024 14:53

Dec at that time has a BUYBACK SCHEME . If DEC thinks that share price is undervalued which it always said in the RNS then M & G dumping is an opportunity to buy and cancel shares at dust cheap price unless DEC is unsure and said it’s shares were undervalue 🫤 - I guess DEC has lost the plot and lost all investors’ confidence

[bountyhunter] 09/3/2024 14:43

But also the tender offer is a clever way to stop the likes of M&G dumping shares they wish to sell into the market, assuming they take it up!

[stevensupertrader] 09/3/2024 14:40

Agreed - this Tender Offer is to cancel shares . Therefore with this in mind , this scheme will flop unless a miracle happens between now and 26 March - there is one event Ie the full year result on the 19 March . Currently DEC is facing headwind eg $ weakens again the £, share price in narrow range bound , still unable to move above £10 .

[bountyhunter] 09/3/2024 14:25

Yes for major investors but the shares purchased under the tender offer won't be moved to the US as:

"Shares purchased under the Tender Offer will be cancelled by the Company."

Presumably you meant sold in London and bought back in New York?

For an ISA investor subject to 15% withholding tax (w8-ben completed) for the tender offer to be better than taking the dividend the tender offer price needs to be at least:

((0.68*0.85)/5)*100 = £11.56

So not worth the effort for ISA/SIPP investors unless you are highly optimistic about the results due 19th March, although as has been said no surprises to the downside or upside seem particularly likely with most of the parameters known in advance, imho!

[97peter] 09/3/2024 13:16

SSS- Steven you are mistaken this tender is purely for the big boy investors to get and move, sell DEC shares before year end and re-invest at 5% bonus and is a win win for DEC and investment companies and MM to reduce shares in circulation and move some to US!!!!!!

[bountyhunter] 09/3/2024 12:40

So for the purposes of populating the US market, keeping the price down in London but somewhat higher on the NYSE is certainly quite a lucrative business for those that can move the shares. They might argue there is more demand in New York elevating the price there I suppose.

[bountyhunter] 09/3/2024 12:36

#1514
That's the first I've heard of that but would be interested to hear the views of others. I really don't know for sure how any shares get to the NYSE market but presumed that only MMs could do it.

[stevensupertrader] 09/3/2024 12:32

We private shareholders cannot even sell shares in US NYSE even we have shares held in Uk through UK brokers - such an unfair world we all are living.

[kaos3] 09/3/2024 11:59

It was descridbed above on one of advfn BBs.

Something like transfering from crest to us clearing house.

Someone else can elaborate