| 8:25 24/05/2012 | B share redemption date |
| Please can anyone in the know tell me when the redemption date is where election has been made. I.e., when do I get my money?! CO By Cautious optimist |
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| 20:21 02/05/2012 | @cautious optimist |
| Re your plea of 28th March about redemption alerts: in case you've not heard from iii, they've issued notices for both the forthcoming and the previous tranches of B shares. Here's the notice for the PREVIOUS lot - Security: MCBRIDE - SCHEME Description: B Share Scheme McBride PLC ISIN GB00B46J6L10 redeemable B shares Redemption Terms Each B share can be redeemed for GBP 0.001 per B share. **Should you wish to redeem your B shares, please provide us with your instruction by 3pm on 8th May 2012. Please indicate the number of B shares being redeemed** If you do not wish to redeem your B shares or we do not receive a reply by the deadline then no action will be taken, and you will retain the B shares. You can notify us of your request to accept the offer by calling 0845 200 3637. Or you can send us a secure message. If you send a secure message, please select "Corporate Action" from the drop down list. - and here's the notice for the FORTHCOMING lot - ISIN GB00B6VPPF51 redeemable B shares An issue of B shares relating to your holding of McBride PLC ordinary shares has been announced, on a 20 for 1 basis. This new issue of B shares is unconnected to B shares previously issued with ISIN GB00B46J6L10 Terms Each B share can be redeemed for GBP 0.001 per B share. **Should you wish to redeem your B shares, please provide us with your instruction by 3pm on 8th May 2012. Please indicate the number of B shares being redeemed** If you do not wish to redeem your B shares or we do not receive a reply by the deadline then no action will be taken, and you will retain the B shares. ISA clients should note that B shares must either be redeemed or transferred to their trading account. You can notify us of your request to accept the offer by calling 0845 200 3637. Or you can send us a secure message. If you send a secure message, please select "Corporate Action" from the drop down list. ---------------------- Diotima By Diotima |
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| 22:13 30/04/2012 | Re: Pref share redemption date |
| TDW has credited the B shares to my account and that means that I can sell them. ===================== McBride has announced a return of capital whereby shareholders have been issued with 20 new B shares for each McBride share held. The ex-entitlement date is 30th April 2012. Shareholders may elect to retain the B shares until such time as the company makes a redemption offer in the future (default option). Alternatively shareholders may elect to have the B shares redeemed in order to receive GBP0.001 in cash for each B share held. Shareholders who elect to redeem their B shares will be issued with the cash proceeds on or around 25th May 2012. Should you choose to retain your B shares the company expects to offer future opportunities to redeem your B shares in the months of May and November each year whilst the B shares remain in issue. Please be advised that anyone who holds the B shares within an ISA or SIPP will not be able to retain the B shares as they are not eligible to be held in this account type. As such all B shares will be redeemed for cash for these holders. ==================== The target date for MCB's broker is 08 May 12 which may mean that your deadline is 5/6 May 12. MW By MostlyWrong |
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| 11:16 26/04/2012 | OK trading statement |
| Seems to me that they're holding down the fort. Which is good - still generating cashflow, dividends still coming! As expected, higher oil prices are translating to higher input costs, so MCB is going to keep being unloved for a while... but once oil & commidity prices start to stabilise or decline, margins will improve quickly, and MCB will find itself in favour again. By Boony |
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| 22:30 25/04/2012 | Financial Calendar |
| Just in case anyone was wondering. MCB shares moved xd today: http://www.mcbride.co.uk/investors/shareholder-help/financial-calendar And to quote Mr Best, I'm off to spend the dividend on wine, women and song. And if there is anything left over... MW By MostlyWrong |
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| 22:24 25/04/2012 | What a strange day! |
| I expected the SP to fall by 2p first thing from last night's close @ 130.75p as the share moved xd. However, it opened 0.5p lower, stayed there until mid-morning when it jumped to 132p, spent 3 hours at that level and then dropped in chunks to 127p at the close. What on earth happened there? MW By MostlyWrong |
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| 15:15 25/04/2012 | Re: Pref share redemption date - cheers CO |
| Thanks again for the news - have just fired off a secure message accordingly. Must say it worries me a bit that they can't seem to keep on top of this (surely) elementary stuff. Okay, it's up to me to keep an eye on my own investments, but if they're not getting this right I wonder whether they might be making a horlicks on my account in other ways that are not evident to me. D. By Diotima |
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| 12:36 25/04/2012 | Re: Pref share redemption date |
| Diotima, The good news is that II are wrong. You have not missed the deadline for electing for redemption of existing B Shares. The deadline is 11 May to notify the company (though II may require notification a little earlier so as to give them time to make an election for all stock they hold on behalf of investors who have elected). The bad news is that II aren't getting any better! That said, I find that if I shout, eventually something gets done. It is annoying because, like you, I'm too busy to deal with these unnecessary hassles. CO By Cautious optimist |
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| 10:05 24/04/2012 | Re: Pref share redemption date |
| Thanks Cautious Optimist for that news. I'm furious! III also failed to notify me about the corporate action the first time around, and when I raised it with them a while back just got a bland assurance that all relevant corporate action notifications were being sent to my inbox. Needless to say I wasn't too happy with this response since it was patently untrue but being very busy with other stuff just let things ride. Having seen your comment I've realized I didn't get the latest (February) notification either, and having checked everything on my account discover I may possibly have also missed corporate action notices on CHY/CMHY and PHP earlier this year, so a testy phone conversation with III has just been had about (a) for once and for all sorting out the reason why I'm not getting c.a. notifications, (b) getting in place elections to redeem both the first lot and the forthcoming lot of MCB 'B' shares, and (c) compensation for losses on the first lot. Not an altogether encouraging response: I'm told a complaint will be raised with an investigations team to look into why I didn't get the earlier notices; if I want to elect to redeem the forthcoming B shares I will have to respond to the corporate action notification that'll arrive in my inbox after 30th April (!!!!!), and that I've missed the deadline to redeem the first lot at the next redemption point (aaaargh) but will get a notice sometime next week telling me how to go about redeeming those (double aaaargh). Let's see what happens next week. But III is starting to look pretty dysfunctional, so this year's ISA dosh will probably be heading elsewhere. Diotima By Diotima |
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| 14:21 21/04/2012 | Re: Pref share redemption date |
| MW, Thank you. I have still not received what Interactive Investor call a 'corporate action notification'. I understand the company sent out notices in late Feb, and the deadline for election for redemption is 11 May. I have told II that, corporate action notification or no notification, I elect for redemption of the B shares I still hold from last time round. Hopefully this time they will sort the position out in time. Last time they paid me £40 ex gratia compensation for failing to inform me in time of my entitlement to elect. Meanwhile, I am entitled to a dividend on my B Shares of 0.75 of LIBOR - which I reckon must make about 1.5% p.a - ie 0.75% over 6 months (geewhizz)! In short, if in November I had held 1,000 ords (now worth about £1,280), I'd have got 48,000 B shares (aggregate nominal value £48), and my total dividends on those for 6 months would have been about 36p !! Why would anyone not elect for redemption at the earliest possible opportunity?! The rate of return is even worse than on UK gilts (before tax, at least). CO By Cautious optimist |
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| 10:00 11/04/2012 | Re: Pref share redemption date |
| CO, It would be unusual for me to telegraph my intentions but, in this case, and for your eyes only... I have the following dates in my diary: 25 Apr 12 – MCB moves xd (2p) 10 May 12 – MCB B shares issued? Sell them! Tell the iii/community board! 25 May 12 – MCB B shares will be cashed in – 2p  MW By MostlyWrong |
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| 11:31 28/03/2012 | "B share redemption date" |
| ... should have been the heading of my previous post, not 'pref share' redemption date. I don't think there are any prefs. By Cautious optimist |
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| 11:29 28/03/2012 | Pref share redemption date |
| I no longer hold any ords (bit the bullet and sold at a big loss a month or two ago, having concluded that persistent oil supply instability and likely continuing high oil price - even potentially rising further - is likely to prove a big drag on earnings of MCB, for the foreseeable future, petroleum or its byproducts being the company's main input cost). However, I still hold the B shares issued at the time of the last 'dividend' or quasi-dividend, and in relation to which Interactive Investor (III) failed to notify me in time of my right to elect for redemption. Please could any holders let me know when the next redemption window opens and closes, so I don't miss the opportunity again. These days, I don't assume III will ever remember to notify me of any rights on time. They appear staggeringly incompetent. Thank you for anyone who is able to answer this. By Cautious optimist |
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| 12:49 24/02/2012 | Very large volume of trades |
| I notice a very large volume in dealimgs today some of which are very substantial in this normally "sleepy"stock which I have held for quite some time on ther basis that people will switch into their lower priced items rather than branded names as household budgets get tighter. I also liked their growing overseas companies. Any views will be apporeciated, By Paringa |
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| 5:49 10/02/2012 | The Telegraph. |
| By Rachel Cooper, City Reporter 7:14PM GMT 09 Feb 2012 http://tgr.ph/zLltx3 By SpikeyDT |
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