Phoenix Share Discussion Threads

[deadly] 25/10/2016 08:46

GARYCOOK

"deadly, How did you buy at 855.When the last trade before the close at 4.30pm was 881,and the lowest to buy all day ?..."

Had the order placed on the order book as I always do, and it went through during the auction at 4.35

[rcturner2] 25/10/2016 08:44

They do the rounding at the end so it will b 291.

[fenners66] 25/10/2016 08:43

Have the nil paid rights got their own ticker?
If so what is it anyone?

[garycook] 25/10/2016 08:39

Jonwig,I make it 287 Rights,on 500 shares,because when you divide by 12 it gives you 41.66 they will round his holding down to 41,and then times the 41 by 7 giving 287.Sorry to be petty,but I believe that is how works.

[jonwig] 25/10/2016 08:31

stevenr - if your broker hasn't contacted you by Friday, give them a ring. They will give you the options and dates. You should have the rights to 291 new shares at 508p.

[stevenrevell] 25/10/2016 08:24

I'm new to all this can anyone explain what happens now I hold 500 Phoenix shares

[garycook] 25/10/2016 08:11

Anyone know when the price of the Rights will be credited to your account.Will it be later today ?

[cwa1] 25/10/2016 08:05

Was too mean and missed it. Oh well, nothing ventured, nothing gained.

[garycook] 25/10/2016 08:00

Fair play if it comes off.

[cwa1] 25/10/2016 07:57

Gary, purely as a matter of interest, I've put a somewhat cheeky offer in for some stock here this morning in the hope that it might get triggered in the chaos that MAY ensue this morning with the ex rights goings on, etc. You just never know.....

[garycook] 25/10/2016 07:54

RCT.But a 30p drop,last night after the close.I call it Marketmakers stealing !!!

[rcturner2] 25/10/2016 07:41

Gary, I sold because I have seen this many times before. The new shares often weigh on the market and simple supply/demand dynamic weakens the share price.

[cwa1] 25/10/2016 07:40

GC, no NOT only institutional investors. Private investors can and do participate in the auctions too. I can assure you this is correct as I do so often myself!

[garycook] 25/10/2016 06:55

Skinny,Surely only Institutional investors.It looks like the Rights should be trading around 220.

[skinny] 25/10/2016 06:39

Gary if you have access to DMA, you can participate in the closing auction.

[garycook] 25/10/2016 01:15

deadly,How did you buy at 855.When the last trade before the close at 4.30pm was 881,and the lowest to buy all day ? PHNX Website giving an adjusted price of 727 at last night,s close.Why the 30p markdown ? It took £585 off my holding,and makes taking the Rights profitless.To all investors who sold in the 890,s fair play. I think I have got this RI wrong.But 727,now makes the yield 6.9%.So it is worth buying the Rights just for the Dividend.

[edmundshaw] 24/10/2016 18:24

deadly sharp there!

[deadly] 24/10/2016 17:35

Looks like someone sold those at the close, as I picked a few of them up at 855, wish I'd got more.

[jonwig] 24/10/2016 17:19

It goes ex-rights tomorrow so should open somewhere between 724p (taking the close to be 850p) and 743p (taking the close to be 880p. Anybody's guess!

Richard B - as already said, uncrossing trade. Buyers and sellers matched.

[richardbroughton] 24/10/2016 17:01

Someone sold/bought/borrowed/??? over 1.3M at 855! Interesting to see open tomorrow. If it stays there i'm topping up.

[skinny] 24/10/2016 16:59

1.3 million uncrossed @855!

[wllmherk] 24/10/2016 16:56

what happened at the close ?


wllm

[speedsgh] 24/10/2016 11:01

Shareholder approval + rights issue for the Abbey Life acquisition have been voted through at the EGM...

Results of General Meeting -

Completion of the Acquisition remains subject to certain conditions and further updates will be made in due course...

It is expected that Admission will take place, and that dealings in the New Shares (nil paid) will commence, at 8.00 a.m. (London time) on 25 October 2016. CREST stock accounts of qualifying CREST Depositary Interest Holders are expected to be credited with Nil Paid Rights as soon as practicable after 8.00 a.m. (London time) on 25 October 2016. The latest date for acceptance and payment in full for the Rights Issue is 11.00 a.m. (London time) on 8 November 2016...

[edmundshaw] 23/10/2016 13:40

And there is no divine right for Mark Carney to take over financial management of the country (viz his rebuke when ministers point out the bad side of QE).