Future Share Discussion Threads

[essential] 07/8/2018 13:39

How do I take up the nil paid rights? I have them showing in my account. If I do nothing do I keep them?

[soundbuy] 06/8/2018 17:46

ii - nil paid showing

[andygibb101] 06/8/2018 11:35

SoundBuy, I called ii this morning and they said should be available to buy after midday today.

[bigwig] 06/8/2018 08:58

anyone know what the epic is for the nil paid rights yet?

[soundbuy] 06/8/2018 08:53

Nowt with ii as yet..........

Not even a note re 'corporate action' prior to Friday either........zzzzz

[soundbuy] 02/8/2018 14:30

Quick gander over at DS Smith - remembered they had had a recent RI

Same issues raised blah blah........

Helped clarify a few things......

[soundbuy] 02/8/2018 14:14

Cheers.........that would be my reading..............

[lomax99] 02/8/2018 13:44

HL's corporate actions note on it is quite clear:

'The Rights Issue is expected to open on 6 August 2018 and will be available to all Shareholders as at close of business on 3 August 2018. If you hold Shares at this time you will be entitled to purchase 3 new Shares for every 4 Shares held, at a price of 303p per Share.'

[soundbuy] 02/8/2018 13:39

Thanks all........I was thinking along divi lines too..........

I was going to ignore the record date but thought I'd query it - ETO has been my only rights issue over the years, common sense dictates there wouldn't be a 'grey' area between record and ex-rights date.....

[typo56] 02/8/2018 13:11

Then how do we find out?

This record date stuff is a perennial source of confusion for private investors on ADVFN and poorly explained in company announcements. For most of us, record dates are irrelevant.

Same with talking about 'discounted' rights issues, as if loyal holders are somehow being offered a bargain. They're not. It's almost as if they want us to be confused!

[ihatemms] 02/8/2018 12:23

No - I have kept my shares.

[typo56] 02/8/2018 11:59

we'll soon find out.

Does that mean you've sold, expecting to receive rights? If so, you'll be disappointed.

[typo56] 02/8/2018 11:46

It's spelt out and pretty clear from page 3 of the prospectus.

[ihatemms] 02/8/2018 11:42

we'll soon find out.

[typo56] 02/8/2018 11:40

Divdends are entitled according to ex-date too, not record date. The delay with ex-divs is to simplify the admin. It used to be one day more, hence ex-divs were usually Wednesdays.

I believe record dates on rights issue are before the ex-date, in order that certificated holders can receive provisional allotment letters in time for the ex-date and can immediately trade the nil-paid rights. Provisional allotment does not mean entitlement. If you've sold before the ex date you have to forward the allotment on to the buyer.

[ihatemms] 02/8/2018 11:35

So do want to explain how the record date for dividends works' Up to record date - entitled to dividend. After record date - no entitled to dividend.

[typo56] 02/8/2018 11:35

The ex-rights date is deducible from the RNS but is spelt out in the prospectus.

[typo56] 02/8/2018 11:31

Tosh! It's only the ex-rights date that concerns holders. Any shares bought up until close tomorrow will qualify. Any shares sold before Monday won't.

Hmm, might explain the dip today?

[ihatemms] 02/8/2018 11:03

It's the record date that counts. You won't be entitled to any rights on any purchases made after 31 July .

[soundbuy] 02/8/2018 10:47

Aye, can see that from the timetable.........just wondered re record date .......

TIA

[lomax99] 02/8/2018 10:39

Goes ex rights on Monday 6th, at market open.

[soundbuy] 02/8/2018 10:28

Second rights issue to date so......

How does this affect those purchasing on/after 31st July....


' Record Date for entitlements under the Rights Issue

= close of business on 31 July 2018'



.....looking to add today......