Aston Martin Lagonda Glo... Share Discussion Threads

[typo56] 05/9/2022 10:09

"To qualify for the rights you need to be holding at close next Monday."

Where does it say that?

Apologies. My mistake. Somehow I thought I'd read ex 13th Sept. In fact it's 12th, therefore you need to hold at close this Friday. Thanks for pointing out. I'll edit previous posts to avoid confusion.

Existing Shares marked ex-Rights (the Ex-Rights Date) by the London Stock Exchange......8.00 a.m. on 12 September 2022

[loglorry1] 05/9/2022 10:09

Sorry, Typo but that is utter nonsense. The RI level answers the question "How many more shares do I have to buy at what price to avoid dilution". It isn't irrelevant at all. Obviously the share price will fall ex-rights but the TERP is telling you what your ex-rights price plus the value of your rights are worth assuming the market cap remains the same.

[swiss tony] 05/9/2022 09:52

"To qualify for the rights you need to be holding at close next Monday."

Where does it say that?

[deanmatlazin] 05/9/2022 09:48

should go back down to £3-£3.30. What a disaster. Somebody taking advantage of the company in dire need of funding. must be the Saudis!

[porsche1945] 05/9/2022 09:40

Throwing more cash into the black hole that is AM. Buy tesla.

[loglorry1] 05/9/2022 09:31

"To qualify for the rights you need to be holding at close next Monday."

Obviously but the TERP is 178p so unless you expect the market cap to rise dramatically when it goes ex-rights (why should it?) then you may as well sell some up here and use the proceeds to take up your rights on the rest.

[diku] 05/9/2022 09:15

Details of the Rights Issue

The Company today announces the details of a 4 for 1 fully committed and underwritten Rights Issue of 559 million New Shares to raise gross proceeds of approximately GBP575.8 million.

The issue price of 103 pence per New Share represents:

-- a discount of 78.5% to the closing price on 2 September 2022 (being the last business day prior to the date of this announcement); and

-- a 42.3% discount to the theoretical ex-rights price of 178 pence per New Share calculated by reference to the closing price on the same basis.

[deanmatlazin] 05/9/2022 09:13

next news...consolidation 100 to 1. Rinse and repeat

[diku] 05/9/2022 09:12

How many RI has this outfit had?...buying shares here is like supporting the BOD lifestyle and keep plodding along...wash rinse and spin cycle back to 100p?...

[deanmatlazin] 05/9/2022 09:12

i thought the right issue will be at £3.30p. Doh

[my retirement fund] 05/9/2022 09:09

Why do shareholders keep throwing their money away here ? another 600M to tide them over another few years, crazy !

[typo56] 05/9/2022 08:21

"Makes much more sense to sell some here and use proceeds to take up rights."

That doesn't really make sense.

To qualify for the rights you need to be holding at close on Friday (corrected from next Monday)

When they go ex-rights on Tuesday next week the AML share price will likely fall by about 60%. That value will get transferred into the nil paid rights shares (which may trade in the range 60p-70p each - you get four of them per existing AML).

As I always bang on, rights issues are a devious way of companies raising funds. They don't offer any special deal to existing holders. It's smoke and mirrors.

The rights price is determined by the pound of flesh the underwriters demand, should the rights issue bomb and they're left picking up the shares. Otherwise the price the rights are set at doesn't really make a difference to existing holders.

[loglorry1] 05/9/2022 08:16

Makes much more sense to sell some here and use proceeds to take up rights.

[wilmdav] 05/9/2022 07:41

Right issue price: 103p

Theoretical ex-rights price (TERP): 178p

Hats off to jonnywalker77. Posts 10081 and 10085.

[deadly nightshade] 05/9/2022 07:33

Does anyone remember the old saying "the system is working, send more money!"

[terminator101] 05/9/2022 07:17

4 for 1 rights issue huh.

But don’t worry as there’s the promise of “positive cash generation by 2024”. PS that’s RNS code for “don’t bother looking for a profit or any shareholder returns”.

And you’ve gotta love that 78% discount 🫣

[porsche1945] 24/8/2022 12:38

You poor fxckers invested in this hopless uk dogshxt, will end up in the hands of bondholders. Terminal. Buy tsla ffs.

[arja] 22/8/2022 19:42

chart support at about 430 !

[mallorca 9] 22/8/2022 08:40

Naked Trader is keeping his short open

[blackhorse23] 22/8/2022 07:54

Zombie company

[mallorca 9] 20/8/2022 10:52

This looks like a stinker

[dancing piranha] 18/8/2022 22:28

300p seems about right to me! We'll see....

[eodfire] 18/8/2022 21:06

This happened mid July.