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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Easyjet Plc | LSE:EZJ | London | Ordinary Share | GB00B7KR2P84 | ORD 27 2/7P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
13.20 | 2.37% | 570.80 | 566.60 | 567.00 | 572.80 | 556.40 | 559.60 | 5,402,765 | 16:35:02 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Air Transport, Scheduled | 8.17B | 324M | 0.4274 | 13.27 | 4.3B |
Date | Subject | Author | Discuss |
---|---|---|---|
13/9/2021 17:07 | Although commercially I would be keen to exercise my NPRs, I think I may instead stagger in (by purchase of ordinary shares) the equivalent number of shares to which the NPRs would entitled me, but then actually just sell the NPRs themselves (if I can bear the temporary over-exposure and the associated opportunity costs). Staggering in rather than one-off exercise may be better for risk management because it allows you to choose how many shares you wish to buy at whatever the share price happens to be at that particular moment (viewed another way: at whatever the SP's current premium above 410 GBX happens to be). Exercise on Thurs 23/09 is known to cost 410 GBX per share but what is not known is the NPRs' actual value on that date because the Thurs 23/09 share price is not known until that date (i.e. the amount one "loses" through exercise, by sacrificing the opportunity to sell the NPRs which are likely to be trading at approx 410 GBX sub the SP). So in a sense this approach would be a form of accelerated, manual "exercise" of the NPRs, but without ever actually exercising them. There may be an SDRT impact though (I don't know whether NPR exercise triggers SDRT, but obviously purchase in the open market does), but with some anticipated volatility anyway that would be minor concern. More relevant would be the commission costs of staggering in across separate tranches. Not sure how good or bad a plan that is, it is just my latest thoughts on it IMHO FWIW DYOR GLA | rookieswingtrader2020 | |
13/9/2021 14:56 | Kinwah thanks | stallone10 | |
13/9/2021 14:24 | Stallone yes eventually you will get your nil-paid rights assuming you bought on the stock exchange not from a bloke in a pub. Otherwise you would lose out significantly. Just be patient and chase your broker if nothing appears on your account after 2 or 3 days. You won't get your own letter so you'll have to liaise with your broker regarding paying the amount due to take them up. | kinwah | |
13/9/2021 14:16 | So if I bought on Thursday will I be getting the shares on the issue | stallone10 | |
13/9/2021 14:02 | It's critical to remember that 4 pence at the end of the "theoretical new market cap" figure, given that the net cash raise is apparently rounded to the nearest million ;) | rookieswingtrader2020 | |
13/9/2021 13:44 | Of course, I'd forgotten that we can use the 31:47 fraction to work backwards to discern the apparent number of old shares; good thinking; thanks Kinwah & New_Inv.So as far as I can see it:456,749,630 apparent number of old shares; Divided by 47; Multiplied by 31 = 301,260,394.2553191 (rounding down to 301,260,394) new shares admitted this morning.456,749,630 apparent old shares + 301,260,394 new shares = 758,010,024 apparent total shares.456,749,630 apparent old shares x £6.808 EZJ mid-price at CoB Fri 10/09 per Google = £3,109,551,481.04 apparent EZJ market cap at CoB Fri 10/09.Plus (approx) £1,196,000,000 net to be raised = £4,305,551,481.04 theoretical new market cap after cash raise.Divided by 758,010,024 apparent total shares = 5.68007195778192 = 568.01 GBX apparent TERP.Does anyone have any thoughts on that? I of course may well have erred and so any corrections are welcome. Many thanks, DYOR, GLA. | rookieswingtrader2020 | |
13/9/2021 13:15 | The interesting thing is because 31/47 is as awkward a fraction as you can get, the company will have a whole load of fractions which it will sell for its benefit. | kinwah | |
13/9/2021 13:10 | On the entitlement day, for each 47 shares issued there would be 31 new shares issued. Therefore to get to the number of shares previously in issue you take the number of nil paids multiply by 47 and then divide by 31 then round up to the nearest whole number. Possibly some options etc were exercised last Thursday and Friday but until we have a total voting rights announcement we don't know about those. They wouldn't in any case be entitled to participate in the rights issue but no doubt there will be some adjustment to the options to take into account the rights issue. | kinwah | |
13/9/2021 13:09 | Thanks Kinwah. Excluding (in addition to) the 301,260,394 shares admitted this morning? And your source please, just for full visibility? Many thanks. | rookieswingtrader2020 | |
13/9/2021 13:08 | Not sure but based on simple math it should be 301,260,394/31*47 = 456,749,630 | new_investor08 | |
13/9/2021 13:02 | The number will be 456,749,630. | kinwah | |
13/9/2021 12:49 | Hi all - Has anyone calculated the TERP based on the Fri 10/09 close? Google shows Friday's mid-price close as 680.80 GBX. RNS says that 301,260,394 nil-paid shares were admitted this morning. At £4.10 each for paying up, that's a gross cash raise of £1,235,167,615.40. RNS says it will be a net raise of "approximately £1,196 million (net of fees, costs and expenses)". It is surely the latter (the net figure) which is relevant to the TERP calculation. The one piece of information that I can't find is the number of shares in issue immediately prior to the admission of the new 301,260,394 shares this morning. Does anyone know that number? GLA | rookieswingtrader2020 | |
13/9/2021 10:46 | Seems to be a repeat of the same statements made before the last Rights! Stelios seems very quiet.. It is quite clear or should be to all by now that Wizz and ryanair have by far the superior business model.Hence strong shareprice. IAG and EZJ were always going to have to raise more. IAG may have to again! They have massive net debt. Sadly until the vast majority of the world is protected and covid is under control many people will not travel.Many have to of course, but just talking to friends and relatives and going on what we see at the airport everyday in terms of numbers "normality" is a long way off. EZJ is a smaller airline now. Mikey o leary's optimistic noises this morning re demand are a change of tone for him.He is normally cautious but he sees the vacuums and is filling some of them. | sparty1 | |
13/9/2021 10:40 | I wouldn't put it past Stelios to pop up shortly and with mega backing take " his baby" back........That would put cat right amounst the pigeons...... | spacegazer | |
13/9/2021 10:20 | so actually up a bit on the day as ex rights price based on friday's closing price is 581 ! Might be surprising if share price does not weaken in coming days unless a T/O bid emerges | arja | |
13/9/2021 10:20 | I know naff all about this rights issue just need to know if this is too good an opp to pass? Buy rating anyone ? | mwainw1973 | |
13/9/2021 10:11 | Stallone 10, yes as a market claim. As far as the company is concerned the entitlements are based on the holdings on Wednesday evening. But the shares were trading cum-rights on Thursday and Friday. So if you bought on Thursday or Friday you are contractually entitled to those nil-paids from the seller of the shares who would receive them from the company. It may take a little bit longer for the nil-paids to show up on your account but you are definitely entitled to them from the seller. | kinwah | |
13/9/2021 09:56 | So presumably the decision whether to take up rights is just dependent on whether you want a bigger chunk of EZJ shares or not. Unless you sell some down now to end up at the same final number or value held as you had originally. If you don't take up the rights and the rump is placed then you'd get that cash added to your account. If you'd taken up the rights, then you'd have the equivalent cash value in the value of the shares in your holding. So it doesn't matter what price the EZJ shares are after the 23rd September - you end up with the same value from the rights on the day, whichever action you take. | yump | |
13/9/2021 09:55 | So do those who bought o Thursday or Friday get access to rights issue? | stallone10 | |
13/9/2021 09:17 | Kinwah, Sooty. Thanks very much for your input. Much appreciated. | 1fox1 | |
13/9/2021 09:12 | One of the safest airlines in the world and one of the best shame covid is trashing all these companies but at some point we will live with it like we live with the flu or we reach a high enough level of natural immunity which big pharma do not want to talk about as they are to busy making so much money will this go to 400p rights issue? maybe but long term covid will disappear and airline space will be the hottest sector in the world | stockhunters | |
13/9/2021 09:11 | 1fox1, a rights issue is different from an open offer in as much as you are given something of value which is added to your portfolio in the form of nil-paid rights. At some stage you will get a corporate action request asking if you want to take up the rights or let them lapse. But even if you let them lapse you are likely to get some money for them when the shares not taken up are placed in the market (the rump). Again this is different from an open offer where you get nothing if you let your allocation lapse. | kinwah | |
13/9/2021 09:04 | 1fox1 your account will need some time to update. However by tomorrow you should see your nil paid rights, ticker EZJN.L on your account. 8am today was the earliest they could show. | kinwah | |
13/9/2021 09:03 | Foxy. Here this is taken from the Halifax share dealing site. Sooty ==================== EasyJet Rights Issue: We have now received further details about the EasyJet rights issue and plan to communicate with eligible shareholders from Monday 13th September onwards. We are currently experiencing high call volumes, if you have any questions about rights issues in general, please check our FAQs. ==================== | sooty snipes |
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