LOM 2.08% 4.7¢ lucapa diamond company limited

Secondly, a simple additional sentence added at the end stating...

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    Secondly, a simple additional sentence added at the end stating "40% of the US$12.4, being US$4.96 mil, to be rapatriated to LOM" would also provide clarity/certainty of expected funds to come.

    It doesn't work that way. Typically towards the end of the financial year, the SML directors determine how much of their surplus funds will be distributed to their shareholders - 40% LOM, and 60% various Angolan entities. Then the Angolan government deducts a withholding tax, and eventually what is left ends up with Lucapa.

    Here is the last announcement of an approved SML dividend. Note that the loan to Lucapa has now been paid in full, so there will be no loan payment component in the next announcement. (for all the opacity in LOM announcements, we've managed to figure that much out!)

    https://hotcopper.com.au/threads/ann-us-10-1m-in-lulo-dividends-and-loans-approved-for-lucapa.7747489/
    Last edited by dangar: Saturday, 08:22
 
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