British Energy Share Discussion Threads

[garyo] 20/10/2004 15:40

Lets hope it gets more expensive before they relist.

[quidzinn] 20/10/2004 15:36

Will the last one to leave please switch off the lights ..... electricity is getting so expensive these days !

Q

[pc4900074200] 20/10/2004 14:57

No RNS as regard delisting?

Holding mine, been in since 0.045.

Be lucky.

pc

[rizwan2] 20/10/2004 14:46

thanks bull.

I wish I had sold mine went they went to £7.

Those were the good days!!

[duden1] 20/10/2004 14:27

Chart showing 15p in the last few minutes!

[martin036] 20/10/2004 14:04

Sarah, hopefully more than they are now!
Alot of institutions have increased their holding in the past few weeks, they must see a higher future value when they relist at the end on Jan.

[sarahbudd] 20/10/2004 13:54

Seems like very few posters left now. Does anyone know what value the existing shares will be when they relist? Thanks

[the bull] 20/10/2004 12:41

rizwan, with 400 i would keep still and hope that something extraorinary will happen, you dont have a lot to lose

[rizwan2] 20/10/2004 12:38

I have some shares.

should i sell or do i keep.

I have around 400.

any help would be appreciated.

thanks

[nick26] 20/10/2004 11:46

looks like shorters are closing!!

[bgyered] 20/10/2004 11:38

When later today the Listing Authority/FSA no doubt approves the BGY application to delist tomorrow I wonder if we'll see any marked change in the price? I'd guess not since most of the liquidity in BGY has now dried up, and any private investor still holding is either oblivious or in for the long haul. The LA/FSA will probably announce after the market has closed anyhow.

If a grey market starts to operate how easy will it be to track where the price is going? Simon/anyone with experiance care to comment? I need my daily fix on the BGY price rollercoaster...

[soul_trade] 19/10/2004 17:48

tomorow is an interesting day

[sarahbudd] 19/10/2004 16:51

Last week I emailed my ISA company (Idealing) and was told.......
"As the shares are delisting they can be traded as normal up until this date.
As soon as they are delisted we will be unable to trade these for you in any
account as there will be no market for these."

Today I emailed again and this was the reply.....
"Due to inland revenue rules you cannot hold unlisted securities in a PEP or ISA. On the day this delists we will be contacting all holders and give them some options. This will be to either transfer the holding to your own name (£10) or to a standard account (£5). You will have 30 days to do this from the delisting date so if you wanted to open a standard account you would have plenty of time to do this."

I shall now keep them as I now feel a lot more confident about BGY.The response seems a lot more positive from Idealing - there seems to be a market for them after all.

[teej] 19/10/2004 11:18

Back to previous queries re what happens on delisting:
just been called by my PEP provider (Jarvis InV Mgt), they say that on delisting they will continue to be held in my PEP, but showing as nil value. On the event of future listing then will again be shown in PEP, unless listed on market not allowed by PEP, in which case will have to be sold.

[garyo] 19/10/2004 11:05

Do we sell or do we keep our shares, ?

Any advice would be welcome.

[teej] 19/10/2004 10:32

If this is right, as on many other occasions seems to absorb large sells without price change.??

[martin036] 19/10/2004 09:44

Some hefty trades going through 9m traded in last 5 mins.

[tupros123] 19/10/2004 08:44

From "LawyerNews" last week:


"Meanwhile, there is also ongoing litigation against British Energy, in which the bondholders are asking for a declaration that the restructuring agreement is binding."

[simon cawkwell] 18/10/2004 18:58

charlie,

I don't know what your relationship is with CI. But there will surely be a market - even if I have to provide a defacto market myself.

Simon Cawkwell

[snogger] 18/10/2004 18:11

More to the point if I was long of a stock that had a limited ability to settle (and Ive had bond issues where a single holder had 120% of the stock) i would squeeze the hell out of it.

Also I think the bond holders want a higher price because that affects the price of the warrants. It cant suit them (banks and bond holders) to see this price lower(forget my argument with idrc) because the price of the warrants is driven by the share price.

I bet we see a rally in the price before friday otherwise i'm off to the pub (which is where I'm going now

TTFN

[snogger] 18/10/2004 18:03

Charlie,

When you opened your short bet with CI they would have borrowed stock to cover. No if ands or buts. When you close they give them back. no if ands or buts.The diff (profit or loss) you pay or receive. they will have already taken their margin.

Thats the easy one to figure out.

Proffessional (broker) short selling is more difficult because they will spend time after the event finding stock to cover their book (back office function).

Failure to cover means that they forgo any dividend (none) and have to pay both sides financing so its a double whammy if you are short and cant deliver.

Yes shorters can buy after the event but the spread will widen (maybe to something like 30%) so what would you do? Where would you offer stock that you had been sitting on and had been screwed by market makers? Answer you might not offer it at all as you would want to see where the stock comes back on the market

Will the shorts leave the market before friday? no is the answer. how they fund their shorts will be very interesting (and possibly expensive)

[charlie] 18/10/2004 17:22

If I can be excused for claiming to be knowledgable (but I have done all this before), those who are short will be able to buy stock off others on the register.

Yes indeed, as described in all your books! However my position was held via a spread bet. I don't know what City Index would have done. Not sure they would go round looking for off-market shares. What they would quite likely have done is done nothing until this Wednesday, then suddenly ring me up insisting that I close.

[charlie] 18/10/2004 17:13

? The pirates were surely Polygon, buying the bonds when they were cheap, selling for 200%, then hoovering up the equity and attempting to commandeer the ship. The captain has repelled all boarders. He may be steering the ship onto the rocks, but he's the captain. Passage aboard the ship was entirely voluntary. If you didn't trust the captain the answer was to avoid buying the shares, not to join the pirates. Treacherous bunch, pirates.