Invista Share Discussion Threads

[spectoacc] 24/6/2011 12:41

Lol another RNS, announcing that Ex is indeed Mon at open, and with an added paragraph at the bottom from Hawkpoint saying they're not liable for any mistakes. Pathetic!

[loverat] 24/6/2011 12:32

I guess probably the right thing to do but perhaps not popular with everyone.

[tiltonboy] 24/6/2011 12:31

My assumption that they were still cum, was backed up then.

[loverat] 24/6/2011 12:30

Well, what I like about coming on to this site is that no two days are the same.
Has anyone come across a situation where trades have been cancelled before?

[spectoacc] 24/6/2011 12:25

All cancelled it seems. Coming back at 1pm.

[hugepants] 24/6/2011 12:24

This is part of the corporate action pdf I got yesterday from TDWaterhouse:

CORPORATE ACTION NOTICE
Ref: XXXXXXXXX
INVISTA REAL ESTAT ORD GBP0.0001
Cash Distribution

Invista Real Estate Investment Management Holdings has announced a cash distribution, by way of a return of capital, whereby entitled shareholders will receive 18 pence in cash for every share held.
The ex-entitlement date is 24th June 2011 and accounts will be credited upon receipt of the consideration from our custodian.

[skyship] 24/6/2011 12:11

Ah well - if they Company did get it wrong, then I admit all deals will have to be, or should be, unraveled.

Badtime - activity not just limited to the thread - also VOL of 2.5m!

[badtime] 24/6/2011 12:06

always gd to hav som activity on the thread :)

[spectoacc] 24/6/2011 11:53

@Skyship - totally agree with you, BUT the suspension suggests to me that the co might have got it wrong in it's 9.30 RNS. That's my concern & why I've moved onto the fence..

[skyship] 24/6/2011 11:50

TILTs - point acknowledged. But doesn't the 09:30 RNS confirm the XD status?

[skyship] 24/6/2011 11:48

EXACTLY:

"buy today and you won't get the 18p"

the corollary is:

sell today and you will get the 18p!

There can be no different interpretation.

Suspension will be for final clarification once and for all; and to discuss whether there is a case for unraveling some or all of the trades.

As I stated earlier - I can certainly see no case for any unraveling post the 09:30 RNS

[badtime] 24/6/2011 11:48

I was told u had to b on the register at the close of business...so to my mind all trades today shud b cancelled.

[tiltonboy] 24/6/2011 11:45

SKYSHIP,

They are not unequivically x, because there was no x date, only an effective date.

[spectoacc] 24/6/2011 11:42

I'm sitting on the fence - it's Ex today, but at open or at close? Last RNS says at open when it says "buy today and you won't get the 18p". But can we trust it..

[skyship] 24/6/2011 11:36

There could, just, be a case for unravelling all trades ahead of the Capital Reduction RNS @ 9:30; but trades post that time should certainly stand. They are unequivocally XD/XC (whatever) today, so those who held @ 07:30 are on the register and free to do what they want in the knowledge that the 18p Capital Return is due to them on 29th June.

No question.....that is how it works!

[spectoacc] 24/6/2011 11:30

Bottom line is co have said it's Ex today. Unfortunately the suspension implies they may have got it wrong. Not sure where that leaves those of us who've sold, if that is the case.

[hoveite] 24/6/2011 11:22

Markets Live on have picked up on this story.

They make some choice comments including "not seen anything like this ever" and "Hawkpoint may have some questions to answer.

[spectoacc] 24/6/2011 11:19

@Skyship - I'm starting to believe it's NOT ex today, and that the co's RNS's are wrong. Taking the T+ date back from 29th payment date gives Ex at open on Mon (ie buy today and still get the 18p). Though it could be the 29th that they're wrong about! Either way, it explains the shareprice movement, if half of people are following the "ex today" per the co, and half following "payment on 29th", also from the co. I'd have thought the last RNS from the co ("buy today and you won't get the 18p") cleared it up, but the suspension says not.

[skyship] 24/6/2011 11:14

.....but if you do, make sure to tell them to waive all outstanding and future fees - that is the very least they should do to directly/indirectly provide some compensation to INRE shareholders!

[skyship] 24/6/2011 11:07

I dare say quite a few will want to avail themselves of the opportunity to berate the Nomad - see the last line!

===============================================================

NOTICE

24/06/2011 10:50am

TEMPORARY SUSPENSION OF TRADING ON AIM

INVISTA REAL ESTATE INVESTMENT MANAGEMENT HOLDINGS PLC

Trading on AIM for the under-mentioned securities has been temporarily suspended from 24/06/2011 10:50am pending clarification of the market position.

Ordinary shares of 0.01p each, fully paid (B1CKTY1)(GB00B1CKTY16)

If you have any queries relating to the above, please contact the company's nominated adviser on 020 7665 4500.

[spectoacc] 24/6/2011 10:58

@Horndean - you might be right, though no reason why they should if it genuinely is Ex today.

Nice of them to tell us an hour later about suspension; even the LSE not sure?:
"Trading on AIM for the under-mentioned securities has been temporarily suspended from 24/06/2011 10:50am pending clarification of the market position."

[tiltonboy] 24/6/2011 10:57

Skyship,

There is a possibility that the LSE may reverse all of the trades, so don't spend the profits yet.

An absolute shambles!!

[skyship] 24/6/2011 10:44

Obviously a real egg-on-face day for Collins Stewart & Hawkpoint. They should have a load of explaining to do to both the Company and the LSE.

Also clear that they should waive any outstanding or further fees to INRE for the remaining lifetime of the Company.

[horndean eagle] 24/6/2011 10:38

My guess is the LSE will unwind all trades today.