Pv Crystalox Solar Dividends - PVCS

Pv Crystalox Solar Dividends - PVCS

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Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
Pv Crystalox Solar Plc PVCS London Ordinary Share GB00BJ0CHQ31 ORD 3.0206P
  Price Change Price Change % Stock Price Low Price High Price Open Price Close Price Last Trade
0.00 0.0% 46.00 46.80 46.80 46.80 46.00 16:35:10
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Industry Sector

Pv Crystalox Solar PVCS Dividends History

Announcement Date Type Currency Dividend Amount Period Start Period End Ex Date Record Date Payment Date Total Dividend Amount

Top Dividend Posts

konradpuss: zcaprd7, I must say I am relaxed here, even if the share price is not currently reflecting the cash on the balance sheet. No surprise that, cough! cough! Eventually, they will distribute. I might even go to the AGM to see the 'whites of the management's eyes'!
hedgehog 100: Year end 2019 net cash was EUR8.6, down from EUR 9.6M. at the end of the half year. That is an annualised cashburn of EUR 2M. p.a. And the liquidation process could take until about the end of 2021 or later: "As our ability to accelerate the liquidation process is limited and also economic considerations make such action unfavourable, our focus is on minimising the cash burn during the next 12-18 months while the outstanding issues are resolved." https://uk.advfn.com/stock-market/london/pv-crystalox-solar-PVCS/share-news/PV-Crystalox-Solar-PLC-Final-Results/82030497 There are also uncertainties about receipt of the EUR 0.9M. payment, and potential tax liability. Then there are liquidation costs. Even the £2M. payout (which would just be 27p per share) isn't guaranteed: "The GBP2 million is dependent on receiving EUR0.9m from customers relating to historic settlements that are not recorded in the balance sheet as receivables at 31 December 2019. If the EUR0.9m is not received then the return to shareholders will be reduced accordingly." https://uk.advfn.com/stock-market/london/pv-crystalox-solar-PVCS/share-news/PV-Crystalox-Solar-PLC-Final-Results/82030497 So I would say that an aggregate '£1 payout' (per share) is pie in the sky. (£1 per share is about £7.3M., or about EUR 8M. at current exchange rates.) Any additional payout on top of the hoped for £2M. is likely to be very disappointing, not for quite a long time, and would be made outside of ISAs if the shares are delisted. So at a market cap. of about £3M., at about 40p, the shares don't look good value. Now we know why a director sold in January.
zcaprd7: Still sat on 8.6m euros... What's that in share price equivalence?
zcaprd7: Also, not too much to report here either?The share price has recovered a bit after the initial drop off though I guess...
konradpuss: EezyMuuny, O.K. put your number on what is left after the distribution in pence based on the existing share price. You know where zcapr7 and I have put our marker - 30p. We can then relax and see it all play out.
zcaprd7: Well, I've maintained the whole lot is worth 30p a share, so if they return 24p, that's 6p left to play with.In the basis of the current share price, Mr. Market is valuing the remainder at 2p a share.As the consolidation shouldn't impact the current price (just change the market cap) I'd say 75p is fair game on the leftovers.If there is a drop, then full your boots I guess...
konradpuss: zcaprd7, the company said a distribution of capital reserves and a consolidation to leave the share price much the same. I do not see how that could lead to a delisting in my humble.
eezymunny: "All shareholders, on the register at the time, will participate in the Capital Return, which will be implemented through a reduction of the capital reserves and will be accompanied by a share consolidation to maintain broad comparability of the share price before and after the return" If they drop to a penny I'll buy them all ;)
salpara111: Well, I am going to hold onto my residual holding as I do believe there is still more value to be released than is shown in the current share price. It would make a perfect shell for another business to reverse into for the listing. The current share price has effectively no downside given that we are getting 24p guaranteed.
boros10: I agree a target of 28p is realistic. The downside from the current share price is minimal. I believe management has played its hand extremely well over the last few years. It has successfully side stepped huge potential liabilities on long term polysilicon contracts and has extracted a meaningful amount from the arbitration process with the major customer, whose financial position is unlikely to be strong. As to their long term stewardship of the Company I would point to the collapse in water prices caused by the anti competitive behaviour of the often loss making Chinese players which has reeked havoc across the industry. With most of my buying done at just under 10p I am very happy with the outcome and will hold my large position (and possibly add more if the share price drops) and wait for payday.
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