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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Pinewood Technologies Group Plc | PINE | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 2.00 | 0.60% | 333.00 | 16:22:05 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 327.00 | 327.00 | 333.00 | 333.00 | 331.00 |
| Industry Sector |
|---|
| EQUITY INVESTMENT INSTRUMENTS |
| Top Posts |
|---|
Posted at 07/5/2024 09:47 by terry topper Seems strange that it's dropped ahead of dividend re-investment. However the dividend is not yet available to trade in my ISA - if that is the case for most investors then there will probably be buying later today or tomorrow. |
Posted at 07/5/2024 09:45 by c_k I wrongly thought it might go up as the 24.5p dividend was paid today and existing shareholders may re-invest the dividend. |
Posted at 24/4/2024 08:58 by rose_by_another_name You are worrying about the way your holdings are listed,niklol, rather than any actual loss. As Ap says, this always happens on the day a stock goes ex-dividend. One day the stock is worth what it is worth plus the expected dividend to come, and the next it is worth only what it is worth. It is seldom that a dividend is as large as this one, so the effect on the share price is usually much less. |
Posted at 23/4/2024 18:01 by theapiarist How else is a dividend to be treated, niklol?Are you suggesting that each dividend be allocated to the stock that paid it. If so what happens when you purchase more stock with that dividend? Or pay the school fees?Does the original stock suddenly revert to being a loss maker? The loss for the total portfolio will disappear on 7th May with an injection of cash. |
Posted at 23/4/2024 17:22 by niklol Jaknife thanks for your response.You are correct it is the difference of the divi due. However when the divi is oaid it will go into income and the overall loss will still be the same on the portfolio. There is a loss shown next to Pinewood and the same for the total portfolio. It's daft in my opinion |
Posted at 23/4/2024 14:43 by theapiarist The proposal document doesn't appear to make it clear, Rose."Under the Capital Reorganisation, it is proposed that 1 new Ordinary Share of 100 pence each ("New Ordinary Shares") will be issued for every 20 existing Ordinary Shares of 5 pence each ("Existing Ordinary Shares") (subject to fractional entitlements)." Since the entitlement to the special dividend is absolute and based upon the pre-consolidated share holding, it follows that it is not dependent upon any fractional adjustment. Which leads one to assume that their statement implies some form of compensation for any missing fraction post-consolidation. They don't say how this is calculated. In reality this is unlikely to exceed 19x£3ish = £57ish. (I think!) Edit That final line of "logic" was very sloppy. In fact, I believe that the compensation would be based on the pre consolidation shortfall eg the share price less the special dividend times the number of shares short of a multiple of twenty ie to a maximum of (.393 - .245) x 19 = £2.81 If I've got that wrong please don't throw rotten fruit! |
Posted at 23/4/2024 12:43 by jaknife niklol,You need to wait until 7 May for the special dividend to be paid (*), as set out in the dividend RNS: You're due 24.5p per old share (pre today's 1 for 20 consolidation). JakNife * unless you hold the stock via CFD or spread bet, in which case it will be credited to your account today, the ex-div day. |
Posted at 22/4/2024 12:05 by nfs I suggest one thing to do is to sell today to avoid the ex div adjustment /payout of dividend and thus have more funds free to buy the shares after ex div but before or on the day of the results, thus avoiding having cash tied up awaiting dividend and maximise investment in the unemcumbered entity |
Posted at 11/4/2024 12:10 by plasybryn Bit old now but a summary:- Meeting getting close.(Sharecast News) - Pinewood Technologies announced a significant return of value to shareholders on Friday, following the disposal of its UK motor and leasing business to Lithia, as it announced on 1 February. The company, formerly known as Pendragon, published a circular outlining a proposal to return around £358m in cash to shareholders through a special dividend of 24.5p per existing share. It also proposed a consolidation of its ordinary share capital. Pending the approval of resolutions by shareholders at a planned general meeting, the company said the dividend was expected to be paid on 7 May to shareholders registered by the end of business on 22 April. Under the proposed capital reorganisation, one new share would be issued for every 20 existing shares, subject to fractional entitlements. The firm said the restructuring would reduce the number of ordinary shares held by shareholders, while maintaining the proportion of the company's issued share capital held. Despite having a different nominal value, the new shares would trade on the London Stock Exchange on par with the existing shares, and carry the same rights under the articles of association. The general meeting convened for shareholders to approve the relevant resolutions was scheduled for 22 April. |
Posted at 06/3/2024 19:50 by eagle eye Srcg,This interview with Chris Mills dates back to November, but is a good introduction into Pendragon and Pinewood Technologies. It starts around 3.30 and runs for about 10 mins. At then end of December the Pinewood stub was valued at 7.5p(PDG 32p less 24.5p divi). Now at 37p, the stub is valued at 12.5p (PINE 37p less 24.5p divi), which is up 66% in just over 2 months. |
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