Intl Power Share Discussion Threads

[optomistic] 02/2/2011 16:08

...and that has not been a very good day!

[optomistic] 02/2/2011 13:18

So will be xd on the 9th, still plenty of time for some divi buying.

[praipus] 02/2/2011 12:49

11th Feb is the registration date for the 92p div

[royaloak] 02/2/2011 12:36

Watching to see if support at 410 holds.

[optomistic] 02/2/2011 11:24

It does look that way jacks13, very disapointing price performance so close to the event. I and I am sure many others were looking for a boost in the share price this week.

[jacks13] 02/2/2011 10:29

Those who sold at 450p-ish look to have got it right.

[royaloak] 01/2/2011 15:16

Looks like those that want the capital gains as opposed to those wanting income winning at the moment.

[royaloak] 01/2/2011 12:16

jacks13

Many thanks for that explanation.

[jacks13] 01/2/2011 09:18

The prospectus says the 92p is a dividend. The dividend is not being funded from the existing company's (IPR) balance sheet but by the GDF Suez Group.
To the best of my knowledge tax avoidance is legal.

LETTER FROM SIR NEVILLE SIMMS,
CHAIRMAN OF INTERNATIONAL POWER PLC - 19 November 2010
(Included in Prospectus published in December - page 5)

4. Special Dividend
Shareholders will receive a cash payment of 92 pence per Ordinary Share following Closing by way of the Special Dividend. The Special Dividend will be paid by reference to a record date which will be set for as soon as is reasonably practicable following Closing and in accordance with the London Stock Exchange's applicable dividend procedure timetable. The Special Dividend will be paid to Shareholders (other than members of the Wider GDF SUEZ Group) within a period of 14 calendar days of the record date. ................................................................................................................................................
......... Further information regarding the UK taxation treatment of the Special Dividend is set out in paragraph 15 entitled ''United Kingdom taxation treatment of Special Dividend'' of Part 9 (Additional Information) of this Circular.


(page 313)
15. United Kingdom taxation treatment of Special Dividend

Individuals
An individual Shareholder who is ordinarily resident and domiciled in the UK for tax purposes and who receives a dividend from International Power will be entitled to a tax credit which may be set off against his total income tax liability on the dividend. Such an individual Shareholder's liability to income tax is calculated on the aggregate of the dividend and the tax credit (the ''gross dividend'') which will be regarded as the top slice of the individual's income. The tax credit will be equal to 10 per cent. of the gross dividend (i.e. the tax credit will be one-ninth of the amount of the cash dividend received).

Note: the dividend is declared in euros and will be converted to sterling at the going rate so it may not be 92p.

[royaloak] 31/1/2011 23:16

Linhur, many thanks.

[linhur] 31/1/2011 18:47

Royal oak

It is clearly stated in the last communication (post 1027) that the payment is a special dividend and I would suggest that your plan would work unless you intended "tax avoidance" which might be detrimental to you because HMRC look at "intent".

kind regards
linhur

[royaloak] 31/1/2011 15:52

Thanks IOM

Yes, that's why I am waiting for more information, if it is classed as a gain I would be out of the Frying Pan into the Fire! Thanks.

[iomhere] 31/1/2011 13:37

royaloak
Not a holder, just looking in so I don't know the background but if there's money being returned to shareholders you have to beware of the form it comes in. If it's a capital repayment (eg following a re-formation/merger whatever) then that counts towards a capital gain. If however it comes as a dividend then that of course is income.

[royaloak] 29/1/2011 12:33

Guys, could I have some clarification on this one please.

Am I correct in assuming that the dividend is paid based on the current share before the new shares are issued. That is if I buy the current shares, and sell after it is x dividend I will create a tax loss. The reason I ask is that at the moment I am income poor, and capital gains rich, so I could achieve the income and offset my cg gains with this loss.

Many thanks in anticipation.

[praipus] 27/1/2011 21:42

George Soros seems to think £200 crude is going to happen....see the video on the home page

[optomistic] 27/1/2011 16:00

You're in for the long term then Priapus ;-)

[praipus] 27/1/2011 15:52

Sell when crude touches $200 IMHO

[jacks13] 27/1/2011 12:37

At what price does it become attractive to re-invest the dividend in new IPR?

[optomistic] 26/1/2011 17:40

Statement re Combination
RNS Number : 0972A
International Power PLC
26 January 2011





COMBINATION OF INTERNATIONAL POWER AND GDF SUEZ ENERGY INTERNATIONAL - CLEARANCE FROM THE EUROPEAN COMMISSION

Further to the announcements on 10 August and 13 October 2010 regarding the proposed combination of International Power (the "Company") and GDF SUEZ's Energy International Business Areas (outside Europe) and certain assets in the UK and Turkey ("GDF SUEZ Energy International") to form an enlarged International Power (the "Combination"), the Board of International Power is pleased to announce that anti-trust clearance for the Combination was received from the European Commission today. As part of achieving the clearance from the European Commission it has been agreed to divest the Company's interest in the 420MW T-Power CCGT project in Belgium during 2011.

Closing of the Combination remains conditional upon, amongst other things, admission to listing on the Official List of the UKLA and to trading on the London Stock Exchange's main market for listed securities of the new International Power ordinary shares to be issued to subsidiaries of GDF SUEZ (the "New Ordinary Shares") and the re-admission of the Existing Ordinary Shares ("Admission"). Admission is expected to occur at 8 a.m. on 3 February 2011 with Closing occurring shortly thereafter on the same day.

Subject to Closing occurring on 3 February 2011, it is anticipated that the Special Dividend of 92 pence per ordinary share will be paid on 25 February 2011 to shareholders (excluding holders of New Ordinary Shares) on the Company's share register on 11 February 2011 (the record date). On this basis it is expected that the Existing Ordinary Shares will trade ex-dividend from 9 February 2011. A further announcement to confirm the timing for the payment of the Special Dividend will be made at Closing.

Terms used in this announcement have the same meaning as those defined in the circular sent to the Company's shareholders on 19 November 2010.



Enquiries

International Power

Investor Relations contact: Aarti Singhal
Tel: [phone]
E-mail: [e-mail]

Press contact: Rollo Head / Sally Hogan, Finsbury
Tel: [phone]
E-mail: [e-mail]



GDF SUEZ

Press contact:
Tel France: [phone] / Tel Belgium: [phone]
E-mail: [e-mail]

Investor Relations contact:
Tel: [phone]
E-mail: [e-mail]

[optomistic] 25/1/2011 10:31

Big day tomorrow....but deadlines have come and gone before :-/

"The European Commission postponed a deadline to resolve French energy group GDF Suez SA's (GSZ.FR) proposed tie-up with U.K.-based International Power PLC (IPR.LN) to Jan. 26 from Jan. 12,"

[praipus] 24/1/2011 21:54

If $200 oil rumours turn out to be true £5 for an IPR share will look too cheap deal or no deal.

[jacks13] 12/1/2011 18:59

'GDF Suez Offers Remedies in EU Probe of International Power Deal'- Bloomberg 6th January



Maybe some institutions are taking their money off the table with the prospect looming of a drawn out enquiry by the competitions authorities.

[optomistic] 12/1/2011 17:18

Looking at the share price someone has concerns about something.
Perhaps this may have something to do with the weakness.



BRUSSELS (Dow Jones)--The Belgian competition authority said Tuesday it wants to review French energy group GDF Suez SA's (GSZ.FR) proposed tie-up with U.K.-based International Power PLC (IPR.LN) because of concerns the combined operation would strengthen GDF Suez's dominant market position in Belgium.

The authority is concerned the merger would give GDF Suez--which already owns Belgium's main utility, Electrabel--control of a new power plant that will start operations next year.

"The College of Competition Prosecutors considers that this acquisition threatens to significantly affect competition in several electricity markets in Belgium," the authority said in a statement. It therefore asked the European Commission, who is currently reviewing the case, for a referral.

After the combination, GDF Suez--with its roughly 70% stake in the new enlarged International Power--will become the world's largest utility by revenue, with annual revenue of EUR84 billion, its Chairman and Chief Executive Gerard Mestrallet has said.

GDF Suez and International Power expect the tie up to be completed early 2011.

GDF Suez owns and operates seven nuclear reactors, all located in Belgium.

[rossef2] 12/1/2011 16:43

Anyone any thoughts on this not getting EU approval?