Author Topic: PRD - PRD Energy Inc.  (Read 5848 times)

wachtwoord

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Re: PRD - PRD Energy Inc.
« Reply #20 on: September 22, 2016, 01:40:08 PM »
The cash came in for me as well. Thus far there is no tax charge on it as I expected and hoped (although MLP taxes came in more than a year late).
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SafetyinNumbers

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Re: PRD - PRD Energy Inc.
« Reply #21 on: September 22, 2016, 10:17:01 PM »
The cash came in for me as well. Thus far there is no tax charge on it as I expected and hoped (although MLP taxes came in more than a year late).

Not sure about the US or foreign rules but if you are a Canadian resident, its a return of capital according to the circular. Anything above your ACB is a capital gain.
ELF IAM GCM/DB.V/DB.X PIF C.N

wachtwoord

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Re: PRD - PRD Energy Inc.
« Reply #22 on: September 23, 2016, 01:04:35 AM »
The cash came in for me as well. Thus far there is no tax charge on it as I expected and hoped (although MLP taxes came in more than a year late).

Not sure about the US or foreign rules but if you are a Canadian resident, its a return of capital according to the circular. Anything above your ACB is a capital gain.

I know, but my country does not impose those taxes other than a wealth fee relative to total wealth paid each year.

I received a large (40%) bill for MLP distributions from my broker 12-18 months after receiving them so I still see Canada doing this as an option. Likely this won't happen.
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wachtwoord

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Re: PRD - PRD Energy Inc.
« Reply #23 on: January 06, 2017, 04:20:02 AM »
When they paid out the dividend they said there would be a residual payment by the end of the year. I can't find anything about that, does anyone know the current status? This still shows up on my brokerage account with value zero.
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wachtwoord

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Re: PRD - PRD Energy Inc.
« Reply #24 on: January 11, 2017, 08:17:02 AM »
I emailed the vice president (Graeme Ryder) at his new job. He replied quickly, gracefully and in detail. In short: they are still winding down the business in Germany and hope to finish the whole process in 2017. They are also still reporting and can be found on sedar.com (I wasn't aware of that).

Sometimes small companies get it right when dealing with shareholders :)
"Beware of he who would deny you access to information, for in his heart he dreams himself your master"

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sbalsam

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Re: PRD - PRD Energy Inc.
« Reply #25 on: January 11, 2017, 09:46:06 AM »
From the most recent MD&A (filed November 29th):

The Company has appointed a formal liquidator to complete the liquidation and dissolution of the
Company's German subsidiaries which the Company expects will be completed in the first quarter of
2017.


With respect to the final distribution:

It is expected that PRD shareholders will receive the net proceeds of the liquidation in two installments.
The first distribution, representing the majority of the Company's cash of $11.8 million was paid out on
September 21, 2016. The second distribution is expected to be made following the discharge of the
Company's remaining liabilities, receipt of a clearance certificate from the Canada Revenue Agency and
approval of the PRD board or directors.


Steve