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. |
My problem is that today I am showing a total loss not a gain |
Can’t deal online with II…. |
I bought today with HL- just after 8amNo problem |
Anyone else with HL??
Ijust called them as mine are showing completely incorrectly. |
No surprises. Based on yesterdays closing price, post consolidation parity is (39.3 - 24.5)x 20 = 296p. |
Money moving to GNC [greencore] ready made food manufacturer for high street retailers |
MG 1982
In 1965 I bought a 1949 MG. I was told it "looked expensive on several metrics".
Wish I'd held on to it! |
Not sure that I agree with selling today, nfs. But buying before the results makes good sense.
Firstly, because as terry says they should be positive.
Secondly, and more importantly in my view, on the 7th May, a sum equalling approximately 60% of the market cap will be paid out to shareholders in the form of cash! How much of this will be reinvested - we don't know. However inmho it makes sense to invest before this potential tsunami rather than during or after it. |
Obviously this is not financial advice !! |
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 |
TheApiarist,
It's still going to look expensive on several metrics though |
The Apiarist
Your analysis makes a lot of sense to me, particularly wrt tax implications and institutions not wanting to tie up cash (and potentially distort their year on year income data).
We now have results and presentations on the 25th - you would imagine that these would be positive.
An interesting few days ahead! |
not being doom gloom, i actually read the gross nargin is 90% of the saas, if so, this is a goldmine ... although cant find where it says cost to sign up each user, i.e customer pays to access... if part of lithia then will they wabnt added cost to use this product of they half own it...? |
thank you.... although when you look at mcap its usually by number of shares not face value of shares? google results say reverse splits often drop after and who is to say the market will value it the same? |
If you have 100,000 shares at today's share price of 38.5 (value £38,500), you will receive a dividend of 24.5p - ie £24,500 and be left with 100,000 shares of 14p. The consolidation means that you will have 1/20 of the number of shares ie 5,000 (100,000/20), but those shares will be 20x more valuable ie £2.80 (14x20). Guess they want to get away from penny share status (and the usually larger % bid/offer spread). |
or even worse- 38.27-24.5 /20= 0.6885p?? eek |
hi all, this is tempting share but .... excuse my maths but is this correct?
for every 20 shares you own on ex div day, 38.27p (current SP) X 20= 765.4P but cash recd of 24.5x 20= 490 = but share price will drop by specidal div eemt- 490 leaving 275.4 for the 20 shares, however they will split by 20 so worth 13.77p give or take, but divestment valued it at 10p so is that 3.77p premium? is 38.27p a premium and better to buy afyer special divi or if drops less than 10p? also noticed no divs since 2019 so not likely to be any more again for a while.. although there are growth prospects here:)
wondering if im mnissing something and better to wait after ex div and place cheeky order at 9.5p??:P |
Ex Dividend 23rd April
Payment 7th May |
 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. |
RNS released - special dividend 7th May and a share consolidation |
Vox Markets Fund Manager Series: Chris Mcvey of Octopus Investments 19/3/24.
Pinewood Technologies featured at 12.00 mins to 14.30 mins |
Thanks eagle.
Appreciated |
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. |
Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.
Hot Features
Premium
