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MEMBER POLL: Sell or Hold GNK?

Posted: Wed Jan 09, 2019 7:22 pm
by garindan
Members,

We've had a bit of a discussion and after the trading results for GNK were published sufficient members believe a vote should be held on whether or not to sell ~half of our Greene King shares, to lessen our dependency on this one.

Re: MEMBER POLL: Sell or Hold GNK?

Posted: Thu Jan 10, 2019 7:26 am
by AAAlphaThunder
We qualified for the Greene King [GNK] dividend on 06/12/2018 and it will be paid on 18/01/2019.

https://www.stockopedia.com/share-price ... dividends/

As it stands were are 1% down excluding the dividend to be paid on 18/01/2019.

https://imutual.co.uk/report?id=909

Re: MEMBER POLL: Sell or Hold GNK?

Posted: Thu Jan 10, 2019 8:18 am
by richard@imutual
Can you define what this means? "so long as we are at a break even price (including dividends)"

So we have a clear instruction if this turns out to be the favoured option. I assume we are selling just one of the two holdings. What would be the exact selling price we'd need?

Re: MEMBER POLL: Sell or Hold GNK?

Posted: Thu Jan 10, 2019 8:54 am
by garindan
richard@imutual wrote:
Thu Jan 10, 2019 8:18 am
Can you define what this means? "so long as we are at a break even price (including dividends)"

So we have a clear instruction if this turns out to be the favoured option. I assume we are selling just one of the two holdings. What would be the exact selling price we'd need?

It is the option to "avoid loss". Therefore we'd only sell if the share price, plus dividends received and due, and sale commission paid to share.com meant the outcome was not an amount less than paid for the shares originally. I'll work that price per share out this morning.

Re: MEMBER POLL: Sell or Hold GNK?

Posted: Thu Jan 10, 2019 9:22 am
by blythburgh
garindan wrote:
Thu Jan 10, 2019 8:54 am
richard@imutual wrote:
Thu Jan 10, 2019 8:18 am
Can you define what this means? "so long as we are at a break even price (including dividends)"

So we have a clear instruction if this turns out to be the favoured option. I assume we are selling just one of the two holdings. What would be the exact selling price we'd need?

It is the option to "avoid loss". Therefore we'd only sell if the share price, plus dividends received and due, and sale commission paid to share.com meant the outcome was not an amount less than paid for the shares originally. I'll work that price per share out this morning.
That seems to make excellent sense, garindan. It would be good to have funds to invest elsewhere but I would not sell at a loss in the real world using only my cash. But as I am not a member I am not saying which way anyone should vote.

Re: MEMBER POLL: Sell or Hold GNK?

Posted: Thu Jan 10, 2019 10:00 am
by parchedpeas
I voted to sell, just so we could diversify, but as I've said lots of times before I'm happy with the income that we receive on this so I wouldn't want to sell below what we paid for it: if that means we have to wait for a bit for the price to meet our target after the conclusion of this poll, then that's fine by me.

Re: MEMBER POLL: Sell or Hold GNK?

Posted: Thu Jan 10, 2019 10:51 am
by pieman
I agree with Parchedpeas -

Don't want to sell at a loss - but would be nice to diversify - a bit.

Re: MEMBER POLL: Sell or Hold GNK?

Posted: Thu Jan 10, 2019 11:04 am
by garindan
Did some maths and considering dividends received & due and the £5.25 it will cost to sell 103 shares in GNK, we'd need to sell at ~598p to "break even".

Minded that there are 5 votes to sell at a minimum of break even and 2 to sell anyway it would suggest we should sell this part of our share holding when we have a suitable price that meets our goal.

Re: MEMBER POLL: Sell or Hold GNK?

Posted: Thu Jan 10, 2019 3:31 pm
by garindan
Further to this poll, I was able to sell 103 GNK shares a moment ago @598.5757, which left £611.28 after commission. This added to the £87.90 in dividends received/due means we have had £699.18 back on our original investment of £698.61, so a whole 57p profit. I guess a profit is a profit though!

Re: MEMBER POLL: Sell or Hold GNK?

Posted: Fri Jan 11, 2019 3:48 pm
by AAAlphaThunder
At least it's a profit.