Share Dealing Discussion Area

bowlhead99

Nanpy wrote: »

Hope this is the right place to ask. Fortune Oil issued an RNS yesterday, the most interesting part being this:
[etc]

Without proper research into the company it is impossible to say. Effectively the company will be returning a substantial amount of cash to its shareholders which will reduce the company's assets. So on the day this goes ex-div (and owners buying shares after that point have no access to the dividend), the share price isn't likely to do anything other than go down, because the dividend is substantial; buying a share the day after you no longer have the rights to receive the cash it's paying out cannot possibly be worth as much as buying a share the day before.

The price has been pushed up because they announced they were restructuring the agreements around the disposal of a business (which might take some time to complete) and the result is that a key shareholder will be taking some Fortune shares in consideration for Fortune receiving a greater share of the disposal proceeds, and that shareholder will also provide some finance by way of loan notes to allow the ongoing operational funding of the business that's being disposed - and those loans can also be paid off with shares.

So, this is positive for the share price because

- it is issuing more shares to a key shareholder (at 7.8p), i.e. without having to do so at a deep discount which would dilute everyone else;

- it is obtaining funding at a competitive rate for the ongoing operations of the business being disposed until it has all gone through (maximising value receivable from that disposal) and will not need to fund this in cash (ultimately clearing the loan by issuing more shares);

- the company will end up with more proceeds and fewer liabilities to pay out and an increased capital base, therefore will have a stronger balance sheet and a much increased cash flow which it can temporarily kick back out to investors leaving it with only the cash it thinks it needs for the longer term;

- the company will be more tightly held (the key backer will have a greater proportion of the shares in issue with a lower free float) potentially increasing demand in the market compared to supply.

At least, that's what I got from the RNS in a three minute skim read without knowing anything at all about the company. I can see why it would have gone up.

Without reading every other RNS for the last 5 years and all the financial statements and considering its opportunities and competitors and who its key management and shareholders and other stakeholders are, I wouldn't like to speculate whether the shares are worth the 8.5p they are priced at today, the 8.5p they were priced at nine months ago, the 13p they were priced at some point in January, the 8p or 12p they were priced at in 2012, the 9p or 15p they were priced at in 2011 or the 6p they were priced at in 2010.

Nanpy

Thanks bowlhead99! Your analysis based on a 3 minute skim read is impressive. It makes me want to to go educate myself.

gwen80

Hi

I have some shares which I have a share certificate for. The registrar (?) is currently Equiniti. As my bank is First Direct I called them to see if I could sell the shares through them and they told me it would take around 6 weeks for them to be able to sell them. Is this normal?

I was under the impression that once I had the share certificate I could sell through anyone, but that doesn't seem to be the case. Could anybody advise on the best way to sell the shares now?

Thanks

G

sabretoothtigger

Thats my presumption also. Cert is proof of ownership, any broker can sell the shares then you (later) provide that cert as your end of the bargain.

The ability to sell should be immediate almost presuming good faith is established.
I think what FD and what Halifax also do is turn the cert into a nominee holding, enacting a transfer. They will then handle the sale at that point.

To actually sell the cert now could be very expensive compared to nominee dealing

Monday August 12 

INTERIMS 
BATM Advanced Communications Ltd., Grupo Clarin SA GDR (Reg S), OJSC Novolipetsk Steel GDS (Reg S), SVG Capital 

INTERNATIONAL ECONOMIC ANNOUNCEMENTS 
Treasury Budget Statement (US) (19:00) 

Q2 
Grupo Clarin SA GDR (Reg S), OJSC Novolipetsk Steel GDS (Reg S) 

GMS 
Beowulf Mining, North River Resources 

AGMS 
Real Estate Credit Investments PCC Ltd, Triad Group 

TRADING ANNOUNCEMENTS 
Mitie Group 

FINAL DIVIDEND PAYMENT DATE 
Amati VCT , Investec 

Tuesday August 13 

INTERIMS 
Caledonia Mining Corporation, EnQuest, Mears Group, Michael Page International, Planet Payment Inc., Resolution Ltd., Synthomer, Tribal Group, X5 Retail Group NV GDR (Reg S) 

INTERNATIONAL ECONOMIC ANNOUNCEMENTS 
Business Inventories (US) (13:30) 
Consumer Price Index (GER) (07:00) 
Import and Export Price Indexes (US) (13:30) 
Industrial Production (EU) (10:00) 
Manufacturing Inventories (US) (15:00) 
Retail Sales (US) (13:45) 
Retail Sales Inventories (US) (15:15) 
ZEW Survey (EU) (10:00) 
ZEW Survey (GER) (10:00) 

Q2 
Caledonia Mining Corporation, Planet Payment Inc., X5 Retail Group NV GDR (Reg S) 

GMS 
Reabold Resources 

SPECIAL DIVIDEND PAYMENT DATE 
British Smaller Companies VCT 

AGMS 
1Spatial, Amiad Water Systems Ltd, Castings 

UK ECONOMIC ANNOUNCEMENTS 
Consumer Price Index  (09:00) 
Producer Price Index  (09:30) 
Retail Price Index (09:30) 

FINAL DIVIDEND PAYMENT DATE 
British Smaller Companies VCT, Invesco Asia Trust 

Wednesday August 14 

INTERIMS 
Balfour Beatty, Capital & Regional, CLS Holdings, Eurasian Natural Resources Corp., Great Western Mining Corporation, Interserve, Lookers, MirLand Development Corporation, Rentokil Initial, Telecom Egypt SAE GDS (Regs) 

INTERIM EX-DIVIDEND DATE 
Anglo American, Blue Capital Global Reinsurance Fund Ltd (DI), CSR, Direct Line Insurance Group, Dragon Oil, Ferrexpo, Fidessa Group, Fresnillo, GKN, Inchcape, Informa, Law Debenture Corp., Man Group, Meggitt, Millennium & Copthorne Hotels, Moneysupermarket.com Group, Pearson, Rexam, Rio Tinto, RM, Schroders, Schroders (Non-Voting), Sherborne Investors (Guernsey) 'B' (Reg S), Standard Chartered, Stanley Gibbons Group, Telecity Group 

QUARTERLY PAYMENT DATE 
Merchants Trust 

QUARTERLY EX-DIVIDEND DATE 
Blackrock North American Income Trust , MedicX Fund Ltd., Picton Property Income Ltd, Royal Dutch Shell 'A', Royal Dutch Shell 'B' 

INTERNATIONAL ECONOMIC ANNOUNCEMENTS 
Crude Oil Inventories (US) (15:30) 
GDP (Flash Estimate) (EU) (10:00) 
Gross Domestic Product (GER) (07:00) 
MBA Mortgage Applications (US) (12:00) 
Producer Price Index (US) (13:30) 

SPECIAL EX-DIVIDEND PAYMENT DATE 
JPMorgan Asian Inv Trust 

AGMS 
Mountview Estate, Subex Ltd GDR (Reg S) 

UK ECONOMIC ANNOUNCEMENTS 
BoE Interest Rate Minutes (09:30) 
Claimant Count Rate (09:30) 
Unemployment Rate (09:30) 

FINAL DIVIDEND PAYMENT DATE 
Speedy Hire 

FINAL EX-DIVIDEND DATE 
Aberdeen Private Equity Fund Ltd. Sterling Part Shares, Accumuli , Ashtead Group, Casdon plc, Diageo, Downing Absolute Income VCT 2, Downing Structured Opportunities VCT 1 'B' Shares, Downing Structured Opportunities VCT 1 'D' Shares, Iomart Group, JPMorgan Brazil Inv Trust , Latchways, Mulberry Group, New Century AIM VCT, Northgate, PZ Cussons, SABMiller, Sweett Group 

Q1 
Srei Infrastructure Finance Ltd. GDR (Reg S) 

Thursday August 15 

INTERIMS 
Afarak Group (DI), AZ Electronic Materials SA (DI), Cineworld Group, Delcam, Gem Diamonds Ltd. (DI), Ophir Energy, PV Crystalox Solar, SIG, Skyepharma, Talvivaara Mining Company (CDI) 

INTERIM DIVIDEND PAYMENT DATE 
Chemring Group, Safestore Holdings 

QUARTERLY PAYMENT DATE 
Abbott Laboratories, Marsh & Mclennan Cos Inc. 

INTERNATIONAL ECONOMIC ANNOUNCEMENTS 
Bloomberg Consumer Confidence (US) (14:45) 
Capacity Utilisation (US) (14:15) 
Consumer Price Index (US) (13:30) 
Continuing Claims (US) (13:30) 
Industrial Production (US) (14:15) 
Initial Jobless Claims (US) (13:30) 
Philadelphia Fed Index (US) (15:00) 

Q2 
Afarak Group (DI), Talvivaara Mining Company (CDI) 

GMS 
Bglobal, Ideagen, Vane Minerals 

FINALS 
Orosur Mining Inc, Rank Group 

EGMS 
Crystal Amber Fund Ltd. 

AGMS 
Accumuli 

TRADING ANNOUNCEMENTS 
Imperial Tobacco Group 

UK ECONOMIC ANNOUNCEMENTS 
Internet Retail Sales (09:30) 
Retail Sales (09:30) 

FINAL DIVIDEND PAYMENT DATE 
Fortune Oil, Hansa Trust, Hansa Trust 'A' Non Voting Shares 

Friday August 16 

INTERIMS 
Alpha Pyrenees Trust Ltd., Datatec Ltd. (DI), Espirito Santo Financial Group SA 

INTERIM DIVIDEND PAYMENT DATE 
Domino Printing Sciences, Imperial Tobacco Group, Sanderson Group 

INTERNATIONAL ECONOMIC ANNOUNCEMENTS 
Balance of Payments (EU) (09:00) 
Balance of Trade (EU) (10:00) 
Building Permits (US) (13:30) 
Consumer Price Index (EU) (10:00) 
Current Account (EU) (09:00) 
Harmonised Index of Consumer Prices (EU) (10:00) 
Housing Starts (US) (13:30) 
Productivity (US) (13:30) 
U. of Michigan Confidence (US) (15:00) 
Wholesale Price Index (GER) (07:00) 

GMS 
Silvermere Energy 

EGMS 
Thorpe (F.W.) 

AGMS 
1pm, BATM Advanced Communications Ltd., Green China Holdings Ltd, Heath (Samuel) & Sons 

FINAL DIVIDEND PAYMENT DATE 
Bacit Ltd, Castings, F&C Global Smaller Companies, Majestic Wine

gwen80

sabretoothtigger wrote: »

Thats my presumption also. Cert is proof of ownership, any broker can sell the shares then you (later) provide that cert as your end of the bargain.

The ability to sell should be immediate almost presuming good faith is established.
I think what FD and what Halifax also do is turn the cert into a nominee holding, enacting a transfer. They will then handle the sale at that point.

To actually sell the cert now could be very expensive compared to nominee dealing

Sorry I'm very confused now. I can sell the shares through any broker?

I should be able to sell immediately presuming good faith? What does that mean??

Are you saying that what FD were proposing was to put the shares into some sort of account with them prior to my selling them? What is nominee dealing??

I'm just looking for the cheapest, quickest and easiest way to sell the shares!

Biggles

I'm just looking for the cheapest, quickest and easiest way to sell the shares!

Well, cheapest and quickest aren't the same thing; which would you like most?

Quickest and easiest would be to walk into a branch of a major High Street bank with your share certificate and ID. They should have no problem selling it for you but it could cost £50-75 (or more?).

Cheapest would be to open an online account with a cheap broker (there are suggestions for, and links to, brokers in previous posts), send them your share certificate to put into your account with them (that's where 'nominee' comes in) and sell it for around a tenner. Then you can draw the money out of your account. The whole procedure, including account opening etc, might take two or three weeks.

gwen80

Hi

Biggles wrote: »

Well, cheapest and quickest aren't the same thing; which would you like most?

That's normally the case, but I'm trying to understand what my options are. To decide what to do with them, I need to first understand the process and what my options are with cost/timeframes.

Biggles wrote: »

Quickest and easiest would be to walk into a branch of a major High Street bank with your share certificate and ID. They should have no problem selling it for you but it could cost £50-75 (or more?).

Cheapest would be to open an online account with a cheap broker (there are suggestions for, and links to, brokers in previous posts), send them your share certificate to put into your account with them (that's where 'nominee' comes in) and sell it for around a tenner. Then you can draw the money out of your account. The whole procedure, including account opening etc, might take two or three weeks.

Ok, are there any comparison tables out there with charges for the walking into a bank and selling them immediately and for transferring them into a nominee account?

Thanks
G

Biggles

gwen80 wrote: »

Ok, are there any comparison tables out there with charges for the walking into a bank and selling them immediately and for transferring them into a nominee account?

If you google 'online brokers', you'll find several comparison tables.

As regards banks, I think you'll need to ask them; it's not a side of their business that gets much attention these days. Next time you're in a High Street, I would wander into two or three and ask the question, maybe start off with one where you hold an account.

edflower

I have learned a lot about shares from this thread; thanks to everyone for your insight.

sabretoothtigger

Halifax wrote:

It’s here! The next Commission Countdown offer is on Wednesday 28th August.

Buy and sell UK shares online for just £3.95 between 12pm and 2pm
Buy and sell international shares for just £3.95 between 8am and 9pm
As always, reduced commission doesn't mean reduced risk. No matter what commission you pay, share prices can go down as well as up and you might not get back the full amount you invest.

How do I take up the offer?

To take advantage of our UK offer simply sign in to your account between 12pm and 2pm and place your trade as usual. For international trades you will get the reduced rate of commission between 8am and 9pm that day. As long as your real-time trade executes during these offer periods you will only pay £3.95 commission.

Will I pay anything else?

All UK purchases are subject to stamp duty at 0.5%.

As always with international stocks, foreign currency conversions are required to settle international transactions. We apply a charge of 1% either side of the available exchange rate when trading. This charge will still be applicable to all international trades which execute within the offer period.

Monday August 19 

INTERIMS 
Amlin, Bovis Homes Group, Greencoat UK Wind, Kingspan Group, Quindell Portfolio, Ruspetro 

GMS 
Plastics Capital 

AGMS 
New Century AIM VCT, Northacre, Oracle Coalfields, Puma VCT V, Solgold 

FINAL DIVIDEND PAYMENT DATE 
London Stock Exchange Group, Mountview Estate 

Tuesday August 20 

INTERIMS 
Cairn Energy, CRH, Glencore Xstrata, JSC Acron GDR (Reg S), Menzies(John), NMC Health, Wood Group (John) 

QUARTERLY PAYMENT DATE 
Caterpillar Inc. 

INTERNATIONAL ECONOMIC ANNOUNCEMENTS 
Producer Price Index (GER) (07:00) 

ANNUAL REPORT 
Falkland Islands Holdings, Immofinanz AG 

AGMS 
Falkland Islands Holdings, Meikles Ltd., World Trust Fund 

Wednesday August 21 

INTERIMS 
Frutarom Industries Ltd GDR (Reg S), Hikma Pharmaceuticals, PPHE Hotel Group Ltd, STV Group, UK Commercial Property Trust 

INTERIM DIVIDEND PAYMENT DATE 
IDOX 

INTERIM EX-DIVIDEND DATE 
British American Tobacco, Capita, Catlin Group Ltd., Dairy Farm International Holdings Ltd. (Singapore), Delcam, Hammerson, Henderson Opportunities Trust, Hongkong Land Holding Ltd. (Sing.Reg), InterContinental Hotels Group, Jardine Matheson Holdings Ltd (Singapore Reg), Jardine Strategic Holdingd Ltd. (Singapore), Jupiter European Opportunities Trust, Lancashire Holdings Limited, Mandarin Oriental International (Singapore), Mobeus Income & Growth Vct, Mondi, Prudential, Rentokil Initial, Secure Trust Bank, Synectics, Taylor Wimpey, UBM 

QUARTERLY EX-DIVIDEND DATE 
Carnival, M Winkworth 

INTERNATIONAL ECONOMIC ANNOUNCEMENTS 
Crude Oil Inventories (US) (15:30) 
Existing Home Sales (US) (15:00) 
FOMC Interest Rate Minutes (US) (19:00) 
MBA Mortgage Applications (US) (12:00) 

Q2 
Frutarom Industries Ltd GDR (Reg S) 

FINALS 
BHP Billiton 

SPECIAL EX-DIVIDEND PAYMENT DATE 
InterContinental Hotels Group 

EGMS 
Thames River Multi Hedge PCC Ld Red Ptg Pref Npv Thames Rvr Hedge £ 

AGMS 
Aberdeen New Dawn Inv Trust, Acorn Income Fund Ld, Latham (James), Terra Catalyst Fund (DI) 

UK ECONOMIC ANNOUNCEMENTS 
CBI Industrial Trends Surveys (11:00) 
Public Sector Finances (09:30) 

FINAL DIVIDEND PAYMENT DATE 
Halma, National Grid 

FINAL EX-DIVIDEND DATE 
Eckoh, NCC Group, NWF Group, PHSC, red24 

Thursday August 22 

INTERIMS 
Carillion, Costain Group, CPP Group, IMI, Kazakhmys, London Capital Group Holdings, London Mining, New World Resources A Shares, Premier Oil, Primary Health Properties, Sportech, Wentworth Resources Ltd (DI) 

INTERNATIONAL ECONOMIC ANNOUNCEMENTS 
Bloomberg Consumer Confidence (US) (14:45) 
Continuing Claims (US) (13:30) 
House Price Index (US) (15:00) 
Initial Jobless Claims (US) (13:30) 
Leading Indicators (US) (15:00) 

Q2 
Bridge Energy Asa, Wentworth Resources Ltd (DI) 

SPECIAL DIVIDEND PAYMENT DATE 
Aberforth Geared Income Trust 

AGMS 
Oryx International Growth Fund Ltd., Praetorian Resources Ltd 

Friday August 23 

INTERIMS 
Afren, Henry Boot, Plaza Centers NV 

INTERIM DIVIDEND PAYMENT DATE 
Aberdeen UK Tracker Trust, B.P. Marsh & Partners, Microgen, Throgmorton Trust 

INTERNATIONAL ECONOMIC ANNOUNCEMENTS 
Consumer Confidence Indicator (EU) (10:00) 
New Homes Sales (US) (15:00) 

GMS 
Securities Trust of Scotland 

ANNUAL REPORT 
Abbey, NWF Group, Renishaw 

EGMS 
Datang International Power Generation Co Ltd. 

AGMS 
Sports Direct International 

UK ECONOMIC ANNOUNCEMENTS 
BBA Mortgage Lending Figures (09:30) 
GDP (output, income & expenditure) (09:30) 
Index of Services (09:30) 

FINAL DIVIDEND PAYMENT DATE 
Aberdeen New Dawn Inv Trust, Atkins (WS), Heath (Samuel) & Sons, Immunodiagnostic Systems Holdings, Latham (James), SABMiller, Scapa Group