International Consolidat... Share Discussion Threads

[m1k3y1] 11/9/2020 15:37

HL fees on the currency conversion will be
1% first £5000

0.75% next £5000

0.5% next £10000+

[m1k3y1] 11/9/2020 15:36

The question I have is, if we buy IAG shares on the LSE in sterling, why then are the rights not also being sold to us in Sterling but in euros.

This seems incorrect to me.

[m1k3y1] 11/9/2020 15:26

Just received this fro HL
"If you do elect to buy shares in the offer, we’ll debit your portfolio the sterling equivalent of EUR0.92 per share, subject to the exchange rate at the time and our standard currency conversion fees. "

I can't believe they are charging a fee for currency conversion !

[nemesis6] 11/9/2020 15:21

guesses on open price monday? now im out

[albert3591] 11/9/2020 15:13

I think it will be slowly walked down.

[m1k3y1] 11/9/2020 15:11

my understanding is that if you buy 100 shares, you will be entitled to 100 rights.
2 rights entitles you to 3 new shares at 84p.

So 2 shares at 193 plus 3 shares at 84p = 5 shares at 638, equivalent to 1 share at 127.6

[loganair] 11/9/2020 14:47

If you buy 100 shares today, you'll be entitled to buy 150 shares at 84p = you'll then own 250 shares.

I think there is more likelihood of IAG falling sup 100p then rising to 200p.

The deep discount of 58% from the 200p when the rights price was announced yesterday says all there needs to be said about how much trouble IAG are going to be in, in the next few years.

IAG have already acknowledged they have permanently lost some of their high margin corporate traffic and will need to replace these passengers with lower margin tourist passengers taking on the likes of Easyjet and Wizz.

[hamhamham1] 11/9/2020 13:50

So if I buy 100 shares now at 193p then apply for 100 shares at 84p. That would be 200 shares at an average of 138.5p, by my calcs.
If the company gets back to a market capital of £10bn (nearly 3x current levels) then you would make nearly 50% profit.
However, if your current average, before taking up the offer, is say 316p, then after taking up the offer your 200 share average would be 200p, then if it hits £10bn market cap again, then you break even?
Is that right?

[trikytree] 11/9/2020 13:14

Yep bitter ex trolley dolly. Thought she’d given up but sad to see her back.

[davethehorse] 11/9/2020 13:11

Ex crew by any chance?

[applepieinthesky] 11/9/2020 12:10

Bunch of shysters this outfit

[essentialinvestor] 11/9/2020 11:22

..."Each Director who is a shareholder and who is able to participate in the Capital Increase has irrevocably undertaken to take up in full or in part his or her entitlement to subscribe for New Shares..."


That made me smile, in part could mean anything. No overall £ figure given
on BOD subscription.

[loganair] 11/9/2020 11:18

I do not know why any PI wouldn't have sold out yesterday at c200p as hanging on is just throwing away good money after bad.

I would have sold out yesterday then if wishing to still hold IAG shares then waiting to buy back in next week or further on down the road.

At the moment I'm unable to make any investment case to invest in IAG as it seems to me the company isn't going anywhere for a long time, at best will just be treading water for the next few years.

Once this is all over, people will still desire to go on holiday - Easyjet, Wizz etc - while companies will want to save as much money on corporate flying as possible.

[nemesis6] 11/9/2020 11:14

yes so the price will be even more on its @rse end of today ...im out

[action] 11/9/2020 11:08

Does it mean today is the last day to buy with right issue?

[loganair] 11/9/2020 11:04

"ex-rights" - 14 Sept

[1224saj] 11/9/2020 10:54

Ham, I agree. I'm trying to establish when the cut off date is, or have I missed it in the RNS

[hamhamham1] 11/9/2020 10:49

I would have thought yesterday, else investors would wait and watch it share price goes down and buy in cheaper than current to qualify of the extra shares?

[1224saj] 11/9/2020 10:36

Loganair, am I missing something this morning?? What is the last date to be on the share register to qualify for the rights issue? Thanks

[loganair] 11/9/2020 09:58

ham - You're not missing anything, however I think it is going to be very difficult for IAG to get back to their peak of £10bln. I can never see the IAG share price getting any where nears its high of 700p again.

1. IAG have already acknowledged they have permanently lost some of their high margin corporate traffic.

2. BA has also said they'll need to fill this by increasing their tourist traffic by trying to compete with the likes of Easyjet, Ryanair and Wizz which they'll really struggle to do as BA is not built to take on in competition low cost carriers.

3. The reason why IAG wish to take over Air Europa because Air Europa's model is tourists to central and South America and not based on corporate passengers.

4. I do not believe Qatar Airways really cares how low the IAG share price goes as it seems to me their main interest lies in transferring passengers from their very large A380s on to BA flights to North America and Iberia to Central and South America.

[hamhamham1] 11/9/2020 09:53

I guess it depends on what your share share price average is now, and/or what your average would be if you took up the allocation.
Then work out where you think the company market capital and shares in issue will be in the future.
Has the cut off passed to buy existing shares to qualify of the discounted ones?

[hamhamham1] 11/9/2020 09:33

So if there's going to be 5 billion shares in issue after the dilution (rather than the current 2 billion approx). If IAG get back to peak levels of market capital of say £10bn, then that would be a share price of 200p?
Or am I missing something?

[action] 11/9/2020 09:12

Sorry did not see the previous post

[action] 11/9/2020 09:11

If right issue is under written why so much secrecy for price and right issue share ratio against old one. No one will under write without knowing the right issue price. Lot of giggery pockery going on here. At least be honest to Jo public for once.