Marlin

[Beagle]

If you consider that:

the current exercise price of these warrants is as near to $0.81* as makes no difference;
and that the difference between the heads at $0.89 and these warrants at $0.08 is also $0.81;

then you can see that, based on the real world experience of previous MLN and similar entities profligate warrant emissions, the market attitude to these things is:

Stuff your fancy formulae, these things are mangy flea ridden dogs.


Snow Leopard recommendation:



*$0.83 - $0.0196 of divvies

Cool picture.

[Beagle]

If you consider that:

the current exercise price of these warrants is as near to $0.81* as makes no difference;
and that the difference between the heads at $0.89 and these warrants at $0.08 is also $0.81;

then you can see that, based on the real world experience of previous MLN and similar entities profligate warrant emissions, the market attitude to these things is:

Stuff your fancy formulae, these things are mangy flea ridden dogs.


Snow Leopard recommendation:



*$0.83 - $0.0196 of divvies

Except that someone cleaned out all the head shares at 90 cents this morning so given the warrant exercise price is 81 cents (adjusted for future dividends paid) then it stands to reason the warrants even without the optionality and leverage they confer should be worth 9 cents with ( the benefits of optionality and leverage thrown in for free). I love a free lunch !

[YoungBuck]

Could someone please explain to me how dividend ammount/supp/imputation works?

I have an idea of how they work. But how do they actually play out?

If I had one share and the dividend amount was 1.96c the Supp 0.074c and the imputation 0.162c. What would actually arrive in my bank account?

Also, 33% tax rate if that is relevant.

Thanks in advance.

[777]

First of all ignore the Supp. That is for overseas investors due to missing out on Imp credits.

Therefore, and we are talking Marlin here, you will get the full 1.96c in the bank. As you are on 33% tax then nothing for you to do as Marlin is a PIE entity and your final tax is 28%. You don't have to include PIE distributions on your tax return. Your statement is either a PIE statement or a dividend statement Quite clearly indicated.

The only advantage of declaring the payout is if you are on 17.5% or 10.5% tax rate. In this case you can claim any RWT or Imputation credits. In yopu case this is not applicable.

[winner69]

Discount to NAV down to 13% as at 31/7

Not the best week for MLN

[YoungBuck]

First of all ignore the Supp. That is for overseas investors due to missing out on Imp credits.

Therefore, and we are talking Marlin here, you will get the full 1.96c in the bank. As you are on 33% tax then nothing for you to do as Marlin is a PIE entity and your final tax is 28%. You don't have to include PIE distributions on your tax return. Your statement is either a PIE statement or a dividend statement Quite clearly indicated.

The only advantage of declaring the payout is if you are on 17.5% or 10.5% tax rate. In this case you can claim any RWT or Imputation credits. In yopu case this is not applicable.

Understood. Much appreciated.

[Beagle]

Discount to NAV down to 13% as at 31/7

Not the best week for MLN

It was a rough week for fang stocks with facebook in particular getting slammed.

[winner69]

Except that someone cleaned out all the head shares at 90 cents this morning !

Wonder who bought them?

[percy]

Wonder who bought them?

Really?
No surprises...…………...It was MLN...…………….Who else would?

[Beagle]

I know you guys aren't keen on Marlin and understand why and agree there is no evidence that their analysts add value and I also agree the performance fees are expensive.

As I see it the pending trade war is something of a binary outcome, things will either get resolved or it all turns to custard. We should hopefully know how things are going to turn out within the timeframe of these warrants. Its a bit of a small left field punt from me that things will work themselves out between China and America and that markets will respond fairly positively.