International Consolidat... Share Discussion Threads

[stra3enkater] 02/10/2020 08:47

Pro-rata only for the excess shares
Not getting a share is not a loss
For prices the rights were taken up, check the charts for IAGN

[m1k3y1] 02/10/2020 08:42

ger_......thank you.

[phillis] 02/10/2020 08:42

He is a bit of a dunce

[ger_paul] 02/10/2020 08:33

no, all investors who took up their rights in full got them, there was then ~200mil which weren't bought leftover, whereby those who wanted more... e.g a demand for extra 6.3bil on top of the 2.9bil they wanted to sell was then split on a pro rata basis.

if i was allowed 2000, which i bought, but then i decided i'd buy another 500 rights off someone who wasn't going to use them, i may end up with only 2100. my full rights plus 100 more. i didnt get the full 500 i wanted.
excess demand was 6.3bil, but only 200mil left in the pot.

you could argue based on some of the comments of a few people who are on these boards, who an earth would buy more than they were offered, but evidently, as my previous post shows, IAG could have done a rights issue for 6bil new shares, and they still would have ALL been bought.

[m1k3y1] 02/10/2020 08:21

ger_paul....thanks , didn't read it fully but of course a lot of the rights were also sold.
Would be interesting to know at what price the rights were taken up. i.e bought in the market , or taken up by existing investors but not sure we will find out this detail.

So, if the rights have been allocated on a pro rata basis, I guess this means that investors will not receive all of the new shares they requested, meaning they will be sitting on a loss ?

[ger_paul] 02/10/2020 08:15

@m1lky, wrong,
92.75 was pre-emptive up take leaving ~200million untaken. but investors wanted excess rights so tried to buy more, people wanted to buy over 6billion more than were allocated.

rights was 100% taken, with 6billion that weren't available.

The Company has received acceptances in respect of 2,979,443,376 New Shares, representing 100% of the total number of New Shares to be issued pursuant to the Capital Increase. The detail of such acceptances is as follows:

(i) Pre-emptive Subscription Period: during the Pre-emptive Subscription Period, which ended on 26 September 2020, a total of 2,763,523,467 New Shares were subscribed for, representing 92.75% of the New Shares, leaving 215,919,909 Excess Shares.

(ii) Allocation Period for Additional Shares: a total of 6,302,363,354 Additional Shares were requested during the Pre-emptive Subscription Period, representing 211.53% of the New Shares. As the number of Additional Shares requested exceeded the Excess Shares available, the Agent Bank has carried out the pro rata allocation as set out in the Prospectus.

[m1k3y1] 02/10/2020 08:07

92.75% subscribed
See RNS

[phillis] 02/10/2020 07:35

And what do you know
More than fully subscribed
No conspiracies by underwriters
Just idiot private posters!

[wilc42] 02/10/2020 07:13

Results from right issues are out

[lordludd] 02/10/2020 06:37

Jamesto.....being a newby; what trading platform are you using to short IAG? I’m keen to do this but don’t know how to short. Thanks.

[jamesto2] 02/10/2020 06:01

keep shorting folks as its easy money ... STRONG SELL

[jamesto2] 02/10/2020 05:53

been shorting this and up around 65% now . with another stock market crash / lockdown will we see 70p ??

[m1k3y1] 01/10/2020 16:14

nemesis.....I know the feeling !

[nemesis6] 01/10/2020 15:56

thanks you m1k3yr....dont like looking too closely at sipp nowadays lol

[m1k3y1] 01/10/2020 15:48

nemesis....if you haven't taken up your rights or sold them, then the rights have expired and your shares will have been diluted.
Your existing shares will now be valued at the price quoted in the market.

[nemesis6] 01/10/2020 15:41

i held 2000 iag at the time of rights issue in a sipp...i dont really have the cash or inclination to do anything more. Can i just leave the rights in the sipp?

[spacedust] 01/10/2020 12:21

Political responses usually mean they dont have a clue.

Look at the current government. 6 rule yet more than 6 allowed in a pub.

15 max in a wedding yet the same 15 guests plus additional other friends csn go to their local and have few cheeky ones no problem.

[sbb1x] 01/10/2020 10:42

Whats the new 52 week high with all the new shares in issue....

[diku] 01/10/2020 09:53

That was a Political response!...



m1k3y130 Sep '20 - 16:03 - 20206 of 20218
0 0 0
Space....received a reply from IAG.
They have just sent me details of the rights issue and what my options are.
No answer to the question I have asked.

I have resent the question.

[montyhedge] 01/10/2020 09:26

Yes some fund will end up owning the stock. It's not their money it's your pension money in this bow wow of a stock.

[spacedust] 30/9/2020 20:43

All of us except himself.

Of course they have the information. Hiw has it been impossible for them not to have the info???

They are with holding the information and will only issue it once they're able to put their own positive spin to it

Thanks milky for keeping us updated

[m1k3y1] 30/9/2020 19:22

Phillis......but of course they know. Maybe they are just delaying to allow the underwriters to offload their holdings ?