JLs next dividend - some thoughts

  • Gordon 45
  • 22/10/08 n/a (free)
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Posted: Thu, 01/03/2012 - 11:57

Hi Folks,

Thanks to vikingvictim, we now have some information on the 8th dividend from E&Y (KSFUK). The last date to submit proofs to them is 30.3.2012 and they must declare the dividend within the period of two months from the 30.3.2012. but they do say it is their intention to provide an update on the dividend timing and, if appropriate, the quantum, in week commencing 2.4.2012 - a month from today/to-morrow.

So great news that this dividend has now been confirmed and as we know both lots of Administrators/JLs will not pay out anything less than 5p/£. So we can expect at least £12.305m back to our JLs by end of May at latest.

If we take the JLs 31.1.2012 figures they showed cash available as £45.582m, add the £12.305 and you get £58.157m. Then deduct the amount that has to be kept aside for unresolved/unclaimed (after 31.1.2012 figs + 9.1.2012 prog report) and that is £12.068m allowing for a 6p/£ dividend. So £58.157 - £12.068m = £46.089m less the latest balance required for Liquidation costs (£3.531m) = £42.558m x 100 then divide by £891.77m = 4.772p/£. If we get a payout of 5p/£ from the JLs based on £891.77m you get £44.588m.

So take £44.588m less the £42.558m = £2.030m. So all we need from 1.2.2012 up until we get the KSFUK dividend is £2m net. Surely over 4 months our Jls can get that. so we could be sitting with 83.2% +5% = £88.2% by mid June.

And if our Jls do reasonably well over the year + a second £12.305m from KSFUK in the autumn sometime, we might just get another 5p/£ by Dec 2012/Feb 2013 and that would mean 93.2% by then - something I'm quite sure none of us thought possible, not so long ago.

So stay positive, might just see 98 - 100% yet

Take care,

Gordon 45

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Thanks

  • William Wightman
  • 19/10/08 31/05/09
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  • Wed, 21/03/2012 - 18:24

Gordon 45...Your updates are very welcome, and very clear!!
You have done, and continue to do a truly fantastic job...many thanks for your efforts!!


JLs next dividend

  • jmf
  • 16/10/08 31/10/09
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  • Sun, 04/03/2012 - 20:44

Thanks again Gordon 45 - not only do you have the talent for figures but the gift for keeping our spirits high. Forever grateful for your efforts.


Brewery

  • chipmunk
  • 13/10/08 31/05/09
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  • Sat, 03/03/2012 - 16:29

I once said that we need to buy Gordon a beer when all this is over and it was suggested we buy him the bloody Brewery....

Hear Hear .........I dont know what I would have done without him (and a few others) ..as a layman Im totally mystified how he obtains and compiles so much very accurate data and has the decency to spend hours/days puting it on this site .

He has been my life line and to be honest I can only understand the bottom lines.....but without you Gordon I would have totally despaired long ago...as has been said before..THANK YOU.

Now , about that Brewery !


Hear Hear

  • shellshocked
  • 23/10/08 31/05/09
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  • Sun, 25/03/2012 - 13:13

Sentiments echoed entirely!!


HEAR HEAR

  • sambururob
  • 10/10/08 n/a (free)
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  • Sun, 04/03/2012 - 04:20

Well said Chipmunk.
Gordon 45 (along with Ice and Anrigaut) maintains sanity amongst those of us who are financially illiterate. His figures are not guaranteed (although he has made few wrong calls so far) but just by sharing them it allows for some sort of planning of our lives.
Thanks Gordon.
Rob and Wendy


HEAR HEAR Encore

  • librasaver
  • 12/10/08 n/a (free)
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  • Sun, 04/03/2012 - 12:39

My sincere thanks to Gordon 45 and all the other activists and commentators who have clarified and explained
to us less well informed and often puzzled members of the DAG.

The achievements and considerable contributions from others like ng, expat, cottesmore, banna, conned, Lucky Jim, our COI representatives and many more (even FTT), will never be forgotten, and I will travel halfway round the globe to attend the opening party of that brewery!

Thank you All,
Libra.


Hear Hear 2nd encore

  • uptight61
  • 14/10/08 n/a (free)
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  • Sun, 04/03/2012 - 21:18

I, likewise, will gladly travel more than halfway around the world for the celebration of what we shall finally get back from the liquidation and to acknowledge the contributions of the many worthies on this site. Cheers to you all!


I would just like to add our

  • Yoda
  • 21/10/08 31/05/09
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  • Mon, 05/03/2012 - 08:05

I would just like to add our heart felt thanks to all concerned too. You guys are indeed a light in the darkness.

Best wishes to you all.


Our thanks too

  • philus
  • 15/10/08 n/a (free)
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  • Mon, 05/03/2012 - 15:22

We would also like to add our voices to the thanks for Gorden 45 and others who have taken the time to simplify, explain and give us hope. They were very dark days in 2008 and their support was very helpful and critical to our sanity.

Here's to better days and a nightmare behind us, best wishes to all.