Hicl Infrastructure Share Discussion Threads

[skinny] 06/3/2017 11:18

Page 179 .

[cousin jack] 06/3/2017 10:59

jonwig; that's helpful, thanks.

[jonwig] 06/3/2017 10:46

Jack - It's a "Placing, Open Offer and Offer for Subscription".

The Placing is for institutions, forget it.

The Open Offer is for existing shareholders: the basic and excess application.

The Offer for Subscription is for your partner. Ask your broker if they are handling this. If not, the application form is at the back of the prospectus (p 179), which can be downloaded from the HICL website. (NB. scaling back is likely, I think.)

[cousin jack] 06/3/2017 10:14

I intend taking up my basic entitlement but my partner ( who does not currently have any)would also like to buy some as the offer document talks about a proportion of the new shares being available for investment by new investors. However I can't find any guidance as to how this will operate. Am I misunderstanding this part of the offer ?

[wirralowl] 03/3/2017 15:09

Hmm, so idealing are continuing to offer their own, unique brand of customer service, eh...?

You might want to consider doing what I did last year, stulock, and switch to a broker that does provide a full service, such as AJBell.

[stulock] 02/3/2017 16:41

Idealing say that they are not able to offer any excess entitlements. only basic entitlements

[badtime] 02/3/2017 09:59

Ex div today

[jonwig] 02/3/2017 09:28

david - that's useful. I haven't asked TDD but suspect they wouldn't. HICL could have waited a month until the new year, but I doubt PIs figure much in their strategy!

[david77] 02/3/2017 09:11

"Personally, I haven't enough cash in my ISA for much more than my B E."

I have subscribed the full ISA mount for this year, but my broker allows me to buy my entitlement outside of the ISA, plus excess if I had the cash.

[skinny] 02/3/2017 09:03

Still nothing from HL - email sent!

[hiddendepths] 02/3/2017 08:49

I'm applying for five times my B E as E E.

There was always going to be selling from instis down to close to the issue price of the new shares. They know they can sell some in the 160s and buy back the same number in the placing. It might not look good to some with the share price down here but actually it's just an opportunity to top up cheaply.

I've got room for more at this sort of level as I trimmed my holding in the 170s and at 180p last year. So I'm close to adding in the market as I'm sure my E E application will be scaled back by quite a bit.

[jonwig] 02/3/2017 06:33

Apollo - I assume you're a holder already. In that case, 1/22 of your present holding is your Basic Entitlement. If you want more shares you apply for them as an Excess Entitlement.

The Offer for Subscription is mainly for people who aren't current holders. I think (though not absolutely sure) that your best bet for more shares would be via the E E rather than the OfS.

Personally, I haven't enough cash in my ISA for much more than my B E.

[apollocreed1] 02/3/2017 03:28

I've been offered various choices for this rights issue, but I can't understand what they mean.

I have one email from my broker, AJ Bell, saying I have the right to sign-up to an Equity Offer for Subscription.

Then I have another email entitled "open offer (excess entitlement)"
Then a 3rd email stating "Open Offer (Basic Entitlement)"

Can anyone please explain the difference between these 3?

[jonwig] 28/2/2017 06:44

Analysis of the share offer, and expectation that it will be over-subscribed:

[jonwig] 27/2/2017 07:18

The circular gives a NAV at 31/12 of 147.4p, up from 143.8p at 30/09. I doubt they would have pitched the offer at 159p without some early soundings of institutions.

[jonwig] 23/2/2017 18:45

So it's 1 for 22 at 159p. My thoughts of 1 for 10 were based on the offer being completely open to existing only, but it seems half of it is available to new shareholders.

[badtime] 21/2/2017 12:11

That's what I'm thinking

[jonwig] 20/2/2017 18:31

So the strike price will be higher perhaps? 160p plus?

[badtime] 20/2/2017 16:28

Sp has firmed nicely since announcing its intention to raise more dough

[jonwig] 08/2/2017 07:39

GODEL - if it's around 1-for-10 at 155p or less, I'll take up my allocation but won't apply for excess.

[godel] 07/2/2017 18:47

Hi jonwig,

I just found out about the quoteddata site a short while ago and am impressed with the content. The AIC website is good for disc/prem tracking too.

Totally forgo about the hxxp rule here for links.

Are you interested in dipping a toe into HICL. I am but will wait till after the Feb fundraising.

[jonwig] 06/2/2017 06:33

GODEL - thanks. Intersting chart there showing HICL trading at a discount in parts of 2008-09. And of course the NAV fell during the GFC. From about March 2009 it traded consistently at a premium as the wider market rose.

A clickable link here (capitalise the initial H):

[godel] 05/2/2017 21:07

hxxp://quoteddata.com/company/f0000008zf/

[skinny] 02/2/2017 15:05

1 for 10 would be nice :-)