James Halstead Share Discussion Threads

[superstardj] 23/11/2011 17:54

Family, directors etc. say 45%. Outside shareholders - less than half take up, say another 20% = 65% in total. Good game.

[bda3490] 18/11/2011 12:07

Investors Chronicle today
JHD plans to buy back 2.5% of its shares....Effectively this is a bonus dividend....
BUY
I shall partake of the tender and revise my guess to 55%, and there is no chance of a special in my mind.

[lundhousegreen] 17/11/2011 19:44

I think you are in the right area, bda3490, so I will go for 32.5%.
I think a lot of shareholders, apart from the family, will give this offer a miss.
It would be great if the remainder was given as a special.
The announcement of the results of the tender is 2 days before the AGM ,
when specials have usually been announced in the past, so if a
35% takeup is correct, then a 7p special might be given???
We shall have to wait and see.

[bda3490] 17/11/2011 16:43

I think the share price is affected by the companies brokers annoucing they are closing the broking business. Not good timing for JHD as normally the broker would be active.

We should all have a bet on the percentage of shares that take up the tender
my guess 35%. That would mean about £ 4 million tendered - so plenty left for a special

[billy_liar] 16/11/2011 10:57

As the Directors have significant holdings it may be the most tax efficient way for them to raise cash from their holdings, rather than a benefit for PIs in general. A bit of a conflict of interests if that is the reason behind it, but hey, if they keep delivering the goods year in, year out I shalln't begrudge them that.

[zeppo] 16/11/2011 10:03

Bad effect currently.

z

[wad collector] 16/11/2011 09:04

I wouldn't be surprised if the tender fails and they think again.

[lundhousegreen] 15/11/2011 14:57

I agree, Graham. Means a larger slice of the cake (in respect of dividends and any future specials, ;-) ) at a later date.

[grahamburn] 15/11/2011 14:06

And by skipping the tender offer a small shareholder will become a slightly larger shareholder (in percentage terms).

[lundhousegreen] 15/11/2011 13:58

I am turning it down as:-
I am not selling shares that can be about the 445p mark when I could have sold yesterday at 470p. Rather sell into the market at a price I like, not anticipating the averaged over 5 days price.
2.5% of my holding would not (for me) be worth selling. I am a long term holder anyway.
I am sure smaller shareholders will not participate, and they would have preferred a special. (Sorry 50 percenters).
Keeping my shares, I would hope the share price will increase, adding value to my holding, as should the dividends, with approximately 2.4m shares being taken out of circulation. EPS will also increase.
IMHO.

[bda3490] 15/11/2011 12:17

£ 11 million spread across 100 million shares. is over 10p a share and its tax efficient. I have no idea why anyone would turn it down. Everyone likes an extra dividend. What hasn't helped has the 400,000 sahres cross at the bottom of the spread yesterday which undermined the initial uplift on the announcement. Hey I am sick of the extra tax on my dividends. I think its well worth a punt.

[zeppo] 15/11/2011 11:22

wad collector

Small is beautiful as far as these ahares have been concerned with two share splits and numerous special divis in recent years.


z

[wad collector] 14/11/2011 13:31

So , you can tender a maximum of 2.5% of your holding , to get a price of 105% of the average price for the prev 5 days .Doesn't sound very tempting to me , even if I had a huge holding!

[bda3490] 14/11/2011 13:05

From Tender circular :

An individual Shareholder who tenders Shares to Altium pursuant to the Tender Offer should be treated,
for the purposes of United Kingdom taxation of chargeable gains ("CGT"), as disposing of their shares.
Provided that the Shares are held as a capital asset by the Shareholder, the sale will constitute a
disposal for the purposes of CGT and, depending on the individual Shareholder's particular
circumstances (including the availability of any exemptions, reliefs and allowable losses), a chargeable
gain or an allowable loss could therefore arise for a Shareholder resident or ordinarily resident in the
United Kingdom. The rate of capital gains tax for gains falling within the basic rate band will be subject
to tax, currently at 18 per cent. For gains in excess of the basic rate band, the rate of tax is currently
28 per cent.

[bda3490] 14/11/2011 08:39

Looks straight foward to me. A distribution as CGT not income tax so use up tax free allowance and if you are a higher rate tax payer whoopee 28% instead of 50%

[lundhousegreen] 14/11/2011 08:22

"Since the announcement of its preliminary results, the Company has continued to trade robustly, and in line with the Board's expectations."

Sounds like they have too much cash swishing about. I guess the tender offer has to do with CGT instead of paying 50% tax on income?

[wad collector] 14/11/2011 08:18

Lost on me too - why not just buy-back on the open market?

The 7.6% profit rise seems to be more important news to me.

[westcountryboy] 14/11/2011 08:06

Why would anyone other than mega shareholders want to tender 2.5% of their shares?! Unless I've misread it, there is no facility for small holders to tender any more.

[lundhousegreen] 14/11/2011 07:47

Tender offer and trading update.

"If the Tender Offer is undertaken at 105 per cent. of this price (£4-62p) and is taken up in full, approximately GBP11 million will be returned to Shareholders in total".

[bda3490] 11/11/2011 15:21

Its about time we had a special. Surely the AGM will bring some news. I just hate the idea of the 50% tax rate on the dividends - is there no way round that short of leaving the country. Give me a tax fiddle someone

[wad collector] 14/10/2011 23:56

I was only joking about a 30p special dividend.

I meant 40p .

[lundhousegreen] 14/10/2011 13:50

IMHO 10p special would be the maximum, as 30p would all but take the cash in hand and at the bank, and JHD management are more prudent than that.

[zeppo] 14/10/2011 13:28

wad collector

We all have to tighten our belts during these difficult times.

Food at AGMs is preferable to the pies at Ewood Park.

The fare offered at the McKay meeting at the Royal Yacht Club was excellent this year, and we got brilliant biscuits and coffee at the Fulcrum AGM.

I attended what was possibly Pinewood's last AGM as a PLC.- more beverages and biscuits.

Cineworld's AGM at the former Millenium Dome was held in the largest wide screen theatre in Europe. I expected at least some popcorn - but again it was a coffee and biscuit job - but I was given a free cinema ticket after the AGM.

Will Halsteads be able to announce your suggested 30p special divi at the AGM?

z

[wad collector] 14/10/2011 09:59

Is it true that you subsist entirely on the food of AGMs?