Chesnara Share Discussion Threads

[pvb] 19/12/2016 18:02

Hesitated adding here at under 2.34 on Friday

Err... when were they "under 2.34 on Friday"?

[redips2] 19/12/2016 16:00

Phone them ....I did !

[solarno lopez] 19/12/2016 14:32

I am still waiting on REDMAYNE BENTLEY to update my account.

They always seem to be slow at whatever they do !

[essentialinvestor] 19/12/2016 14:21

Hesitated adding here at under 2.34 on Friday, not a good decision.

[velod] 18/12/2016 20:32

Wonder if I'm the only one on this forum that now needs to rebalance their holding in CSN?

. . . As of Friday I have only £400 in total current value of shares LOL! It'll be fun trying to get back in and build up to my targeted budgeted holding in this share. So what if I miss the boat? Not the end of the world. I'll just wait until the next stockmarket crisis when the sentiment says IT IS the end of the world and prices tumble over - Oil/ISIS/Putin/Trump/China/EU/Brexit/or whatever (have I missed a crisis or two from the list? :) However I don't think any of that will be necessary. CSN has been quite volatile over the last year, don't see why that should all stop just because I'm looking for it to do the same again :)

Edit: And as Chairman more or less says, it'll be a first (INMO) if at least one of the institutions DOESN'T attempt a cash-in for a quick profit (time limit clauses? ) and thus impact the share price short term.

[jonwig] 18/12/2016 13:35

Chairman, whilst I'll defer to your experience, the prospectus produced (236 pages) begins:

This document comprises (i) a circular prepared in accordance with the Listing Rules of the FCA made under section 73A of the FSMA for the purposes of the General Meeting convened pursuant to the Notice of General Meeting set out at the end of this document; and (ii) a prospectus relating to the Company prepared in accordance with the Prospectus Rules of the FCA made under section 73A of the FSMA. This
document has been approved by the FCA in accordance with section 85 of the FSMA, will be made available to the public and has been filed with the FCA in accordance with the Prospectus Rules.

[pvb] 17/12/2016 20:15

Mind, I applied for loads more than that, and the money committed seems to have been frozen in a suspense account. Could be after Christmas it's released.

Same here. Although from the prospectus I think it should be settled by 23 December.

[bscuit] 17/12/2016 20:10

I decided the excess wasn't worth the candle, especially with the money tie-up certainty.

[jonwig] 17/12/2016 15:07

pvb - I seem to have got about the same percent as yourself (with TDD). Mind, I applied for loads more than that, and the money committed seems to have been frozen in a suspense account. Could be after Christmas it's released.

Looks as though each broker has its own processes.

[blueliner] 17/12/2016 14:09

I think you had to be brave and use your entitlement to the full.

My actual awarded excess new shares amounts to 1.1% of my end Nov holding, but I only applied, due to weightings and ISA headroom, for 11% of the said holding. Meaning I received just 10% of the excess I asked for.
'Don't ask don't get'

or it wasn't my brokers Christmas party.

[daveofdevon] 17/12/2016 02:49

If the actual excess that was awarded was 3.8% and my excess awarded was 55% then something strange has been going on. Either it was Christmas party day at my brokers or they have done something rather clever.

Maybe they tried to grab extra shares for clients by applying for excess shares on behalf of clients who did not make use of their entitlement and then, having secured an extra tranche of shares, doled these out to clients who wanted more. I can't believe they did that so I wait to see if my allocation is going to be adjusted.

[pvb] 16/12/2016 23:41

My excess was 5.45% of original holding, in a nominee account.

[shaunproberts] 16/12/2016 16:25

OK, here's an idea. Suppose the issuing brokers gave each Share Dealing broker their 3.39%, and within the pool of their shareholders, they each scaled back applications to dish out the shares not applied for by their clients? Then the allocations would depend on what broker you're with, and explain the different allocations. However, I'd expect some similarity, in this case, between two applicants using the same share dealer, and no two figures seem the same here!

By the way, count yourself lucky if you've heard what your allocation is ... I'm with Alliance Trust Savings, and haven't heard a thing as yet ...

[sogoesit] 16/12/2016 15:34

Seems to be all over the place; I got 7% of my excess subscription.
Doesn't appear to tally with others here.

[al101uk] 16/12/2016 15:23

3.8% of my elected received... not a happy bunny!

17.4% of my total requested allocation, which is still less than some got in just elected :-(

I'm with TD Direct.

[velod] 16/12/2016 14:52

Turns out I didn't receive 80 odd % of my allocation but 13.3% - Had elected to apply for 1,000 shares (even though I was eligible to apply for far higher) but received only 133.

. . . Broker explains that the bulk of the cash set aside for the potential sale will be returned to me in "about a week". Sounds like that applies to all of you.

. . . So, a bit of a help with averaging in the task ahead to rebuild my holding in CSN but am uber ultra confident of returning to the shareholder list with a hugely reduced buying-in price than my original holding held, that was sold in parts completing in full sale by last week. Patience will be the prime part of the plan, in carrying it out.

[lizafl] 16/12/2016 13:54

I received 22.222222% of the excess shares that I applied for. This is with iWeb. Much less than I hoped for.

[alter ego] 16/12/2016 12:48

looks like I got 15% of the total I applied for.

[daveofdevon] 16/12/2016 12:46

In the last hour from H-L

Entitled 110
Applied for 400 in total
Got 260 in total

So 160 out of 290 excess applied for means I got 100% of my entitlement and 55% of the excess

[velod] 16/12/2016 12:32

Not sure what's going on in my account but it's showing like I've received well over 80% of my allocation request.Total value in my portfolio is not reflecting that though, so couple of jobs to do and then phoning broker.

[sogoesit] 16/12/2016 09:05

My (full) allocation of excess subscription has now been reversed... and previous debited funds now re-credited.
Oh well, have to wait and see I guess.

[velod] 15/12/2016 20:41

Checked my broker's acc and still reading NA against Csn. My cash us still absent though. Thought today was the day to learn if additional shares application was succesful or not? Will phone broker tomorrow for info. Bet they say - oh they've stuck a yellow post-it note on your application.

. . . It says: "We've read your derogatory post on the internet and decided not to sell you, any at all - so there!"

[jonwig] 15/12/2016 14:40

JoA - yes, thanks.

This would be about 2.5% cost I imagine. (No, not 10%, that's for the wild west of AIM). They haven't said how much, I think, but the next accounts might give a clue.

VCT launches have an initial charge of up to 2.5%, and new investment trusts 1.5% - 2%. These are fairly cheap as there are no existing assets. The last IPO of an existing company I took part in was JLG. I'll try to find the charges percentage.