Steppe Cement Share Discussion Threads

[mattjos] 25/7/2020 13:15

wilo, i have already passed my comments on to Claire Barnes in the hope she might have more sway than i ever will.

For a really, really small time & $ investment, Steppe could do a couple of interviews on one of the London investor video feeds, coupled with spending about $50 on their website. A student could knock their website into shape over the course of two weeks work.
They could do a drone fly-by video of the cement plant and the limestone reserves and the rail wagons to help investors see that a). It is a genuine company b). it a sizeable company.

this company is paying out 12%+ Yield but, for no logical reason, it is not shouting it from the rooftops.
They need some decent IR/PR

[wilo101] 25/7/2020 12:24

Mattjos we will discuss those comments with the four founders who control the company, the problem is the CEO is a project manager and engineer....not an investor relations guy, and hates spending a cent.....

[mattjos] 25/7/2020 11:43

i agree with all your comments wilo … i have concluded that there is nothing whatsoever wrong with STCM as an investment & I am delighted with the attaching dividends.
It's more a case, right now, that the markets are completely screwy & upside down. Value investing is being completely ignored as a consequence of the FED and the other central banks creating new fiat money like never before.
That money is only interested in chasing momentum right now … irrespective of whatever the instrument is, the easy money is jumping on anything that is moving and/or promising growth & that includes the alternative forms of money such as Bitcoin & tech companies such as Tesla, M/Soft etc

Much of this is going to end in tears,imo

After which value investing 6 yield is going to come back with a vengeance.

All that said, STCM does not help itself in any way:

- It does not do any sort of self-promotion in London
- They don't reply to investor emails
- Their website is truly terrible
- The House Broker refuses to reply to emails or phone calls and is making no effort whatsoever to assist in dealing with the long-term seller.

In the FY Accts, the Board may perennially point out the valuation gap between the company assets and its mkt cap but, that is the entirety of their efforts to address the matter & so one is forced to conclude by these negative aspects that actually, the main shareholders and company management have no interest in the market listing whatsoever. They are quite happy to simply collect the divi and await a takeover approach one day or, buy it off the market themselves using the divi cash as the funding route.

[wilo101] 25/7/2020 05:35

The beauty of the STCM holding structure carefully planned, designed and put in place is that all dividends are free and clear of all taxes to all shareholders and without doubt. So far there have been 5 dividends, one pre-IPO in 2004/5, and four since and never has any tax been withheld on payments out to shareholders, next Friday 31st July 2020 is payment day and when the monies will be in all shareholders accounts.

That will make £0.07p per share for all of the years 2017-2019, free and clear. How on earth can the share price remain stuck at £0.22p per share, escapes me but great cheap buying for those in the know.

After peak debt at £95m to build out the 2 dry lines, the Group is now effectively entirely debt-free.

[cflather2000] 24/7/2020 12:56

I'm hoping that we will get the full payment, and that there is some dodgy data somewhere in the system.Seeing as they don't remove the tax amount, and in theory no one else will either, we may see the full amount arrive. Fingers crossed

[wilo101] 24/7/2020 12:02

There is no WT - Degiro have made an error and the payment is not being made anyhow until 31st July, a week today....

[cflather2000] 24/7/2020 11:53

Degiro have said they don't apply the tax, and can't affect it now. They say they will be happy to investigate after the payment is made

[wilo101] 24/7/2020 10:46

Double Tax Treaty

[cflather2000] 24/7/2020 10:15

Thanks Wilo for the excellent breakdown.What does DTT stand for in your post?Darly, thanks for your update too.I'm going to reply back with Wilo's explanation and see what they say.Will report back.Hopefully we will get our cash Darly!

[darly mcfarly] 24/7/2020 10:12

Thanks cf. I also had the same response from DeGiro.

[wilo101] 24/7/2020 10:07

No there is no Witholding Tax at all, CAC/Karcement pay to their Dutch Holding company minus 5% DTT relieved, Steppe Cement Holdings BV, which then pays its Labuan parent company, STCM, with no WT, Labuan is a tax haven offshore Federal Malaysia and there is no WT on dividends paid by it to all shareholders, that is the beauty of the structure.

[cflather2000] 24/7/2020 09:55

I've also emailed the Steppe Cement investor relations team

[cflather2000] 24/7/2020 09:49

From Degiro:Directly at the pay-out of the income, tax is withheld and paid to the tax authorities of the resident country of the paying organisation (source country).Withholding tax is usually withheld by the paying agent of the paying organisation, but withholding can also take place higher up the custody chain. DEGIRO usually receives the income as a net amount, after the deduction of withholding tax.Withholding tax rates differ depending on the source country and the nature of the income paid.....Is withholding tax a factor here? From other posters, it appears that it shouldn't be

[wanobi] 23/7/2020 09:35

think you must be a client to get in ? or not ?

Cheers
Wan :-)

[king suarez] 23/7/2020 09:30

Thanks - is that paid for research, or something you can just email to request for free?

[wilo101] 23/7/2020 09:28

[e-mail] or [phone]

Check their web-site, only have the 2 reports in PDF, 1st dated 9th Jul and second dated 10th June 2020, quite bullish, forecasts a target price of 40p with a 63% upside and DY12.4% and ETR 12 mo 76%.

[king suarez] 23/7/2020 09:18

Do you have a link to the research, wilo?

Many thanks

[wilo101] 23/7/2020 04:33

The dividend is only paid on 31st July so shareholders will receive early August not before, see also the latest VTB research

[wanobi] 22/7/2020 14:51

09 July 2020

Steppe Cement Ltd

Final Dividend FY2019

Steppe Cement Ltd is pleased to announce the relevant information and dates of the final dividend in respect of the financial year 31 December 2019 are set out below:


Dividend amount per 3 pence
Ordinary Share
Ex-Dividend Date 16 July 2020
Record Date 17 July 2020
Payment Date 31 July 2020
Availability of any Not Applicable
Scrip or DRIP options

Cheers
Wan :-)

[3800] 22/7/2020 14:43

I haven't recieved any dividend yet from selftrade EQi. How much did everyone get per share?

[cflather2000] 22/7/2020 12:55

Appreciate the responses on this (even though I didn't ask the question!). Depending on Degiro's response, I may move provider

[mattjos] 22/7/2020 12:27

divi received with no tax or problem last year. Never had any 'notification' in advance

[goldry] 22/7/2020 11:20

I'm with IG. Never get any notifications, just payment. I held last year and there was no tax. Can't see anything to suggest this year is different