Phoenix Share Discussion Threads

[lauders] 08/6/2018 02:16

Not sure everyone has seen this video but I hadn't until just now:

Our CEO sounds very upbeat and confident and I am optomistic that shareholders will be happy over the years to come. My FENR windfall (due any day now) will be used to pay for the rights issue payment I will make for my full allotment shortly.

[bluemango] 07/6/2018 12:04

Thanks Gary, useful.

And agree with comments above re price after all this is done & dusted, PHNX has performed particularly well in comparison with other companies in the aftermath of previous Rights issues. Partly no doubt because they have generally been for solid income growth rather than working capital!

[rcturner2] 07/6/2018 11:12

PO is on drugs I think.

[stun12] 07/6/2018 11:11

Indeed, jonwig. You need only to look at the last rights issue that PHNX did in the low 600s. I don't think the price ever went below £7 in the aftermath.

[jonwig] 07/6/2018 11:00

Pierre - with an xr price of 700p (near as dammit) you're really suggesting the share price will fall 26% as a consequence of the rights issue?

Sure, the price could fall between now and 2019 - for lots of reasons. One would be a market crash, which would hardly prove your point. Sorry, I don't buy your story.

[pierre oreilly] 07/6/2018 10:41

The elephant in the room is the price after the issue is all done and dusted. The price drops as you go ex rights, ex issue, ex everything else. But in almost all rights i've seen, the mechanics over the weeks and months after all that drive the price to the issue price, in this case 517p, which is probably the price to buy in in a few months time.

[jonwig] 07/6/2018 10:40

hvs - that was my point!

[hvs] 07/6/2018 10:03

jonwig,

Frankly, not a useful metric: with most "trading" companies a yield of over 6% would be a sign of distress!

Surely this does not apply to PHNX

[garycook] 07/6/2018 07:49

jonwig,Just goes to show what a good company PHNX are,and they care about their shareholders.So we have it offical 46.90p

[jonwig] 07/6/2018 07:45

Good to get such a response, Gary!

[garycook] 07/6/2018 07:40

Hi,Would it be possible now the Phoenix RI has been announced to tell me what the yearly Dividend will be.There is £338 Mill to be divided by the New shares in issue inc.Stanard Life Aderdeen,s which is 720,890,689 shares,which would equate to a Dividend of 46.88p according to my calculations.Can you confirm this is correct.Thanks in advance Gary Cook.
Wed 9:02pm Hi Gary, thanks for your message.

I can confirm that your calculations are correct. It is also worth noting that following a rights issue, prior period dividends pre share are recalculated to reflect the fact that under a rights issue, shares are issued at a discount.

This "bonus factor" adjustment will only be known when the shares trade ex-rights (25 June) but based on the closing share price on 29 May of 772p and a Theoretical Ex-Rights Price of 691p we have estimated the bonus factor to be 0.895 which would rebase the 2017 annual dividend from 50.2p to 44.9p. The post completion dividend per share of 46.9p is therefore a circa 4.3% uplift.

[jonwig] 06/6/2018 06:28

@ miti 1000 - the simplest way to calculate the MCap is:

(3062 + 950)*1.20 = £4814m.

(Because SLA will be awarded a 20% stake in the ex-rights company.)

The yield compared with other FTSE350 companies?
Frankly, not a useful metric: with most "trading" companies a yield of over 6% would be a sign of distress!

[miti 1000] 06/6/2018 05:50

So approx at 779 the ex-rights rights would be about 690 with a divi of 46.88p giving a yield of about 6.8 per cent .

Could someone please tell me what the market cap would be post rights on those figures and how the dividend yield compares to similar ftse companies ? TIA.

[hvs] 05/6/2018 14:35

lol !!!1

Glad he is still alive.

[minerve] 05/6/2018 11:33

Phoenix Wealth, part of the FTSE-listed Phoenix Group, is still working to fix a bungled software upgrade which has seen some of its customers not receive pension payments on time for three months in a row.

➡️ Mr Aldridge has been offered £250 in compensation for his pension not being paid on ➡️ time but has made a formal complaint to the Financial Ombudsman about how he has
➡️ been treated.

[hvs] 01/6/2018 10:31

Could be higher given the potential here.

[brancho] 01/6/2018 10:11

I make ex rights price will be about 690p

[hvs] 01/6/2018 09:31

If ex rights is 22nd June one should get another two weeks after that.

[novision] 31/5/2018 17:41

I'd just add that individual brokers will set their own deadlines for processing, cash in the account, etc. It can be a week earlier, so they are able to sort the admin in time. So don't rely purely on the published dates unless you're doing it yourself.

[jonwig] 31/5/2018 08:35

Brancho - Skinny's post #2732 has all the dates.

[brancho] 31/5/2018 08:26

Hi all,
I understand record date for the rights is 22 June for those that hold but what date is the dead line for decision? Tia

[jonwig] 31/5/2018 07:55

Full circular is 443 pages long - possibly a record.

[garycook] 31/5/2018 04:11

46.88p it looks like then.Trying to get 100% confirmation from PHNX.They have received my request through the PHNX F/B account.Now just waiting for PHNX to reply.I will update if and when PHNX staff reply,which they did regarding the delaying of the Rights circular.