Easyjet Share Discussion Threads

[ttny2004] 10/9/2021 15:47

Macromike - if it was easy as that everyone would be multi millionaires.

[tergifts] 10/9/2021 15:39

crystal
according to the information I provided earlier today ,the ii information suggested todays close.

Stallone
I may be wrong so best check with broker but it suggested you could buy today but since you missed the registration date they are registered in the sellers name so need to be claimed for you by your broker so I guess the nil-paid wont be available to you on Monday but this is only what I have understood since yesterday

[crystal_balls] 10/9/2021 15:18

So I'm confused now - when is the last day to be holding to qualify for rights issue? Was it Wednesday 8th (the record date) or is it Mon 13th? My broker doesn't bloody know!

[stallone10] 10/9/2021 15:08

When is the last day to buy shares to take advantage of rights issue?

[qantas] 10/9/2021 13:52

EasyJet rights issue
Introduction to the Rights Issue
The Rights Issue price of 410 pence per New Share represents a discount of 35.8% to the theoretical ex‐rights price of 638 pence per Existing Share by reference to the closing price on 8 September 2021 (the last Business Day prior to the date of this announcement).

Example for you.

The Marks and Spencer rights issue was in may and has only just risen above it now.

The Rights Issue is an offer for Qualifying Shareholders to subscribe for 1 New Ordinary Share, at an issue price of 185 pence (the 'Rights Offer Price'), for every 5 Existing Ordinary Shares held as at the close of business on 22 May 2019, which was the Record Date.5 Jun 2019

Please do your own research as always

[qantas] 10/9/2021 13:45

Stelios must be feeling sick £19 down to £6.966

Please do your own research as always.

[macromike] 10/9/2021 12:55

well done tyga. The price is holding up incredibly well here, especially considering that this RI has been sprung on shareholders with no warning, no shareholder vote, and reportedly the largest shareholder is not supporting it. Maybe the drop on Monday won't be so bad after all.

[tygarreg] 10/9/2021 11:16

But record date for entitlements was Wednesday. So I reckon I'm entitled! I did the same with iag and glad I did.

[macromike] 10/9/2021 10:44

That's my understanding too crystal. I've bought shares previously in another rights issue (not easyjet) the day after the record date, but only got entitlement to rights on the shares I owned before the date.

[crystal_balls] 10/9/2021 10:35

Record Date for entitlements under the Rights Issue - 6:00 p.m. on Wednesday 8 September 2021

The record date for rights issue is the cut-off date as on which a company takes out a list of existing shareholders holding the stock of the company to determine the eligible shareholders for the rights issue.

The right issue record date is announced well in advance by the company through the Letter of Offer. Only the shareholders who are on record of the company as on the record date will be eligible for the rights entitlements of the company to apply the rights share.

[tergifts] 10/9/2021 10:17

Tyg how I see it and I am most likely wrong is that if you sell today you will not be entiled to the nil-paid and you would need to pass them onto the new holder

From Easyjet

Record Date for entitlements under the Rights Issue 6:00 p.m. on Wednesday 8 September 2021
Date of dispatch of Provisional Allotment Letters or CSN
Forms of Instruction (to Qualifying Non‐CREST
Shareholders only)
Friday 10 September 2021
Admission and dealings in the New Shares, nil paid,
commence on the LSE and Existing Shares marked ex‐
Rights
8:00 a.m. on Monday 13 September 2021



From ii


Record Date

When: Dependant on event

The Record Date has no bearing on who is entitled to the Rights Issue, but it is the date the Registrar uses to determine who they contact/pay.

If you made a transaction prior to the ex-date for settlement but after the record date, you will be entitled to the offer, so a market claim will be raised on your behalf.

Unlike dividends, where the record date is usually two to three days after the ex-dividend date, for Rights Issues the record date occurs before the ex-Rights date.

Ex-Date

When: Dependant on event

You must be a beneficial holder of the ordinary shares at close of business on the working day prior to the Ex-Entitlement Date. Anybody buying ordinary shares on or after the Ex-Date will be purchasing without Rights. Similarly, anybody who sells their shares prior to the Ex-Date will not be eligible.

[macromike] 10/9/2021 10:10

From what I've read, the 'wizzair offer' was just fresh air; mainly worthless shares in wizzair and so ridiculous that the board wasn't obliged to notify shareholders at the time. Now that there's a rights issue, the wizzair 'story' is being used as a smokescreen to support the shareprice by implying that there could be bid interest for easyjet. Given how indebted the business is right now, and future profitability is very uncertain, I don't see why anyone would want to bid for it.

My question is about the mechanics around the shareprice today and Monday. If you sell shares now at 700p, can you not re-buy on Monday when the share price is rebased to show the ex-rights impact? Nominally 190p lower?

[loganair] 10/9/2021 10:09

I understand the offer was an all share offer with no cash element.

[crystal_balls] 10/9/2021 10:03

Does the market know the offer from Wizz was circa 700?

[qantas] 10/9/2021 10:03

The shorters have made loads of money out of airline stocks and still more to be made watch the graph.

Please do your own research as always.

[tygarreg] 10/9/2021 10:02

I have just sold enough at 7 pounds to pay for my new ones at 4 pounds. Or have I blundered?

[macromike] 10/9/2021 10:00

Which offer?

[crystal_balls] 10/9/2021 09:53

Is it because the offer was 700p?

[macromike] 10/9/2021 09:44

Strangely quiet on here for a ftse100 company in the middle of a hugely discounted rights issue. Everyone holding their breath until 4.30pm or is the internet broken?

[macromike] 10/9/2021 09:07

On Monday, this opens at the rebased price (ex-rights) at about 190p lower than today's closing price, right? Anyone selling existing shares today makes nominally 190p a share more than they will on Monday - am I missing something?

[qantas] 10/9/2021 09:05

Such a big rights issue does not bode well for shareholders due dilution.

Shares always seem to drop with rights issues example MKS.



Please do your own research as always.

[qantas] 09/9/2021 23:33

EasyJet Spurns Offer From Rival Wizz Air 

[chiefbrody] 09/9/2021 22:20

On the one hand i'd like to support this as EZJ could well recover and go on to be very profitable again.On the other, it's perfectly clear that our government is deliberately out to trash our airlines. I suppose EZJ could just survive without the UK business, given its Euro operations.Not sure what profits come from Europe vs UK though off the top of my head.Desperate desperate times.

[loganair] 09/9/2021 21:22

Set against this barrage of changes at easyJet, its founder and shareholder Stelios Haji-Ioannou is on the verge of founding another budget carrier in Europe. Stelios has, according to reports, been incredibly unhappy with the direction the airlines current management are taking for some time and is seriously ready to create a new pan Europe airline. According to one source, the 54-year-old Greek Cypriot entrepreneur's associates have already held talks with an aircraft manufacturer as well as some potential financial investors

Stephen Hester, former boss of Royal Bank of Scotland and More Than insurance parent company, will become the chairman of easyJet at the end of the year. Many see Hester's appointment as proof the airline is being made ready for a takeover or merger with another airline.

The future, may not be orange at all.

[diku] 09/9/2021 20:34

If the wider shareholders don't have any details of the bid approach then one is taking the BODs statement and the bid rejection at face value...I think such info should be fully transparent to wider shareholders...




If the cash call was predictable, then a bid approach from rival Wizz Air Holdings PLC was anything but. It was unanimously rejected by the easyJet board as “a low premium, highly conditional all-share offer”. Stick that in your pipe and smoke it.