Capital & Regional Share Discussion Threads

[g2am] 10/9/2009 09:11

Oh yeah and trades are a flat £10 with no fees if not used

[g2am] 10/9/2009 09:10

I can say I have been with a few brokers and I actually find IWeb very good. Good layout and great service. I'm not quite so fond of the ETrade layout but I need at least two brokers

[spec7] 10/9/2009 09:09

The guy that called this thread " whats going on" was on the ball :-))

[puchpilot] 10/9/2009 08:51

I want to thank you all for your advice on the problem with my open offer through Lloyds. It seems clear from all your responses that I am entitled to the open offer.
A few things were said in your messages that I feel need some clarification. Firstly, I held two batches of CAL shares, some in my ISA account and some in my Nominee. I have no problems or issues with the o/o on my ISA account.

I did receive a message from Lloyds to say that I was entitled to the o/o in my nominee account. I replied to this message electronically and have proof that the message was read by Lloyds at the same time that my separate ISA o/o acceptance message was read. The problem is the incoming message from Lloyds about my Nominee entitlement is now missing from my inbox, so I lack proof. I suspect foul play.
Never the less as far as I am concerned I believe I was eligible for the o/o and that I complied with the acceptance rules. Lloyds are investigating.

[smurfy2001] 10/9/2009 08:23

I don't know how many complaint i've heard about Self trade. Just dump them and go with iii. The platform is no frills but it works well and is cheap (based on the HBOS platform). There's also no extra charges when your account is not used.

[typo56] 10/9/2009 08:08

sja123, your experience with Selftrade is fairly typical.

I've had similar problems with them in the case of a simple share consolidation. I tried to sell shares that I held with them on the day of consolidation and they refused, even though the consolidated shares were clearly being traded. They told me I would have to wait until my account was updated, which took them a day and a half. Is it legal to prevent you selling shares you own in such a manner? I made a formal complaint to their compliance office and received an arrogant and patronising reply, offering me one free trade as full and final settlement!

[davius] 10/9/2009 07:56

I really can't see why everything keeps thinking that the shares will fall today, just because a few PIs may want to sell out. The placing/rights issue puts the company on a much stronger financial footing and the professionals and institutions will have position themselves well in advance. I just can see any reason for a sell off, indeed we appear to be experiencing some modest buying, hardly a sign that the market expects this to tank.

[cyberbub] 10/9/2009 07:54

SP still climbing, looks interesting, let's see. I think 45-50p or so seems fair value for CAL at this point, there might well be a big sell off later today, but then there should be a good bounce back for those people who have the patience to wait just a few days! Alternatively just hold your shares tight and we should stay up! All IMO DYOR

[jenny tulwought] 10/9/2009 07:54

This is good innit.

[jenny tulwought] 10/9/2009 07:43

Agreed Wimbled.

Think it may be worth holding on for a while, to the new shares. I expected the 'Walk-down' which got about as far as it was going to, on Friday, has not continued (to my delight) this week. This leads me to conclude that the buying pressure ahead of what should be a low, is likely to be sustained.

Here's hoping anyway.


JT

[wimbled] 10/9/2009 07:43

credited after lunch for me. Awaiting at least 45p before trading though!!

[warmsun] 10/9/2009 07:34

my broker told me that they would be able to 'see' my new shares at 10am this morning....so I am assuming the new dealings start at 10am?

[cyberbub] 10/9/2009 07:26

Looks like it must be 10am as some have suggested... hold them tight and there is a good chance of closing over 35p today and then carry on upwards? DYOR

[gconvery] 10/9/2009 07:21

Hmm, no sign of the shares being credited to my account....probably why the share price is staying firm....

[blackwel] 10/9/2009 07:18

i bought shares at the same time and contacted selftrade about the open offer, this was their reply.
Thank you for your secure message.

The ex entitlement date for tyhis corporate action was the 20th August. As you purchased the shares on the 19th under a T+3 settlement, your holding was not on the register to be informed of the offer. The details are of a 2 for 1 offer at the price of 24p per share. This means that you can apply for 9924 new shares at a price of 24p each. Should you wish to take up this offer we can do so under a market claim. Please either call us or send a secure message no later than 5pm on the 26th August with your instruction to take up if you so wish.

I hope this helps

Yours Sincerely

[warmsun] 10/9/2009 07:16

Am probably wrong but I thought it was from 10am???

[cyberbub] 10/9/2009 07:13

Am I missing something or are the OO shares not trading yet?

[cyberbub] 10/9/2009 07:03

Nothing happening yet??

[fbrj] 10/9/2009 06:34

puchpilot - 9 Sep'09 - 16:17 - 1420 of 1434

I am in need of some advice.
I bought CAL on 18th Aug with settlement date on 21st through Lloyds Stockbrokers. Sold holding on news of open offer on 20th. Eligibility date 5:00p.m. 19th Aug. Lloyds are saying I am not eligible for open offer entitlements, because my settlement date was after o/o.
Any one else experienced this problem before?
Thanks in advance
p_p


pp - I bought shares on 18th and 19th August (through Barclays). All those shares were entitled to participate in the Open Offer. The new shares are in my account. (obviously I confirmed instructions to take up OO). The key point is that although settlement was after the OO qualification date I had contracted to buy them before the cut off time/date.

Surely the shares you bought were sitting in your account at the appropriate qualification time? Lloyds cannot dispute that. You definitely have a case for poor/incorrect advice from Lloyds. At the very least you should be compensated for the difference between 24p and, say, the opening price today!

[typo56] 10/9/2009 05:01

Hungry Wolf: I wouldn't expect someone who doesn't take up the open offer to receive a cash payment. Where would it come from? It's not a rights issue. Arrangements have been made to place any shares not taken up in the open offer with the placees at 24p, money which goes to the company not the person who declined to take up their open offer entitlement.

However, we're deviating from PP's original problem. He says that his broker told him that he was not entitled to take up the open offer because whilst he had bought shares prior to 20th August settlement was after that date. If that is the case then I believe his broker has made a mistake.

[randolph and mortimer] 09/9/2009 20:38

Property Co.s trading ahead of NAV now, so depends on how much write-back (ie. tomorrows' money today) the market is prepared to give in the market cap. Might make it back into the All-share index now, which might attract some trackers.

Specialists may create ramp to offload placing stock, since the market is hot as I write. Could easily have a run but, given the zillion new shares in issue and the fact that they are only part-owners of assets, I really don't want these things. And so I shall be scaling them out before the end of the musical chairs. I am looking for an exit, not the top.

[typo56] 09/9/2009 19:24

Boobly: There's no open offer entitlement attached to shares traded on or after the ex date of 20th August.

PP needed to inform his broker before their deadline of his intention to take up the open offer shares and make the required payment for the open offer shares. Even if he sold his original shares at open on 20th August he would still be qualified to the entitlement. I did just that and no hassle.