International Consolidat... Share Discussion Threads

[montyhedge] 25/10/2018 05:33

Shares being cancelled and not held. Brilliant. EPS will be given a boost.

[m1k3y1] 24/10/2018 21:40

Thank you neil.

[neilrich] 24/10/2018 21:23

For any company each ordinary share has a par value, for IAG the par value is €0.5 per ordinary share. It is a technicality and means nothing in the grand scheme of things.

Not sure why IAG are holing 8,854,110 treasury shares, however again a technicality.

[m1k3y1] 24/10/2018 18:44

I have a couple of questions which I would appreciate if someone could answer .

The latest RNS says that "Under the Programme, IAG acquired a total of 65,956,660 ordinary shares".

The previous RNS on the 23rd October says that "Following the purchase, the Company holds 74,810,770 treasury shares" .

There is obviously a difference here.
Why would IAG be holding 8,854,110 more shares ?

The RNS then says "to implement the resolution by reducing its share capital by 32,978,330 euros through the cancellation of 65,956,660 treasury shares".

The current IAG share price is approximately 565.00
Surely 65,956,660 multiplied by the current share price is substantially more than the 32,978,330 euros that they say they will be reducing their share capital by ?

Implementing a 500m share buy back program to cancel 32,978,330 euros of shares makes no sense to me ?

I would appreciate it if someone could explain the differences to me , unless I have missed the obvious ?
Thank you

[neilrich] 24/10/2018 17:35

24 October 2018

Completion of buy-back programme

International Consolidated Airlines Group, S.A. ("IAG") announced a buy-back programme on 9 May 2018 ("Buy-back Programme").

Following the last acquisition on 23 October 2018, the Buy-back Programme has been concluded.

Under the Programme, IAG acquired a total of 65,956,660 ordinary shares, representing approximately 3.2% of its share capital.

In accordance with the objectives of the Buy-back Programme and following the capital reduction resolution adopted by the Annual Shareholders' Meeting held on 14 June 2018, IAG will proceed, in the coming days, to implement the resolution by reducing its share capital by 32,978,330 euros through the cancellation of 65,956,660 treasury shares.

IAG Shareholder Services

24 October 2018

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

[montyhedge] 24/10/2018 14:38

Dividend should be up 10% covered 4 times. Goes xd in November and paid in November I like that, lol

[toon1966] 24/10/2018 14:25

.... on top of the 'superb' results you mentioned a week or so ago or maybe 'half decent', which is it Monty?

[montyhedge] 24/10/2018 14:21

605p Friday that my prediction as long as Walsh gives a positive going forward statement.

[neilrich] 24/10/2018 14:07

BARCELONA (Agefi-Dow Jones) - The shares of European airlines have been hit hard by rising oil prices and the poor results of easyJet and Ryanair. However, Deutsche Bank judges the reaction of the excessive market. These securities "seem oversold," says Deutsche Bank, which notes its recommendation on the sector to "underweight" to "overweight". Air France-KLM jumped 3.8%, IAG gained 2%, Lufthansa rose 1.8%, Ryanair won 2.7% and easyJet took 1.9% on Wednesday, probably supported by a further decline in prices crude.

[nedhammers1] 24/10/2018 12:54

Yea right Monty......

[montyhedge] 24/10/2018 08:10

Back U.K. tomorrow from China, now in Dubai, spoke to oil trader he said it's going lower, good news for airlines. Friday decent figures with a positive going forward statement from Walsh then easily back over 600p.

[montyhedge] 24/10/2018 06:52

Oil three month low, soon be back over 605p if decent figures Friday.

[nedhammers1] 23/10/2018 22:01

Now 76 dollars and who knows what tomorrow will bring be my guest.....

[nedhammers1] 23/10/2018 14:41

Oil is below 78 dollars a barrell ...

[montyhedge] 23/10/2018 12:41

Be careful boys, Dow looking really ugly now.

[montyhedge] 23/10/2018 12:34

Also what will Walsh say going forward if downbeat we will get hammered on Friday.

[neilrich] 23/10/2018 11:45

Now better than half the price of Ryanair, yet we have 3x the turnover and hopefully 2x the profit.

[montyhedge] 23/10/2018 10:50

525p if Dow gets to ugly next few days.

[montyhedge] 23/10/2018 10:16

Dow looking ugly, Battern down the hatches.

[nedhammers1] 23/10/2018 09:51

Oil is down to its lowest level for months ....

[montyhedge] 23/10/2018 08:39

I fear someone may know more than us, bears relentlessly selling this down from 720p to 525p it seems, that must be the price target for them.

[nedhammers1] 23/10/2018 08:37

Or Willie could be bullish and surprise us all and force the Market to wake up and see the light. Amen

[nedhammers1] 23/10/2018 08:25

Yep 550 a distant memory :-(

[montyhedge] 23/10/2018 08:19

Bears pilling in they smell blood for Friday.