John Laing Share Discussion Threads

[jonwig] 08/3/2018 10:07

Typo - I haven't enough ISA cash to take up my rights in full. My preferred option will be to tail-swallow using the nil-paid. I can see some investors reducing their holdings before the shares go xr to take up their rights on the rest. Maybe that's happening today. Dealing costs happen, whichever of the two I choose.

I can't comment on CFD/SB trading.

[typo56] 08/3/2018 10:02

As an aside, I don't get why you'd want to sell any JLG in order to fund taking up the rights. All things being equal, I can't see you're any better off and you incur dealing costs.

[typo56] 08/3/2018 09:49

jonwig, I think the point is if you bought yesterday or buy today you are entitled to the rights (providing you hold today at close). The mechanics of it are down to your broker, which is where they earn some of their commission!

If I long JLG today via CFD/Spread bet and hold at close I expect to see the nil paids (JLGN?) to be credited to my account before open tomorrow. And if I was short JLG I'd expect to have shorts in JLGN.

[skinny] 08/3/2018 09:30

Yes - I guess so.

[typo56] 08/3/2018 09:22

Skinny, I don't think pasting the RNS helps much. The problem is the usual misunderstanding about the record date which, for the ordinary punter, is best ignored.

[skinny] 08/3/2018 09:20

From the RNS :-

Indicative abridged timetable of principal events

Record Date for entitlement under the Rights Issue

close of business on 6 March 2018

Publication and posting of the Prospectus

8 March 2018

Despatch of Provisional Allotment Letters (to Qualifying Non-CREST Shareholders only)

8 March 2018

Ex entitlement date for the Rights Issue

8.00 a.m. on 9 March 2018

Admission and commencement of dealings in Rights Issue Shares, nil paid, on the London Stock Exchange

8.00 a.m. on 9 March 2018

Latest time and date for acceptance and payment in full and registration of renounced Provisional Allotment Letters

11.00 a.m. on 23 March 2018

Commencement of dealings in Rights Issue Shares fully paid on the London Stock Exchange

8.00 a.m. on 26 March 2018

Prospectus

· The Prospectus is expected to be made available on the Company's website, www.laing.com, later today.

· The Prospectus will be submitted to the National Storage Mechanism and will be available for inspection at following publication.

[jonwig] 08/3/2018 09:17

A holder at market close on the 6th will be entitled to the rights. The two-day gap is for holders to read the prospectus, etc. and take advice if necessary.

[typo56] 08/3/2018 09:15

You need to be holding at close tonight to qualify. You can then sell at open tomorrow if you want.

Normally there's a lot longer between announcement and ex-rights dates. They're in a hurry!

[gonzela] 08/3/2018 08:50

Announcement is confusing: record date is COB 06th Mar. Ex entitlement date is 9th Mar morning. Can someone clarify when you should be holding to qualify for the rights?

[jonwig] 08/3/2018 08:31

It's not xr until tomorrow! Selling today to generate cash for take-up, maybe? I guess I'll be tail-swallowing on this.

[skinny] 08/3/2018 08:24

262 * 3 + 177 / 4 = 240.75?

[igoe104] 08/3/2018 08:15

big discount, £1.77. what the management trying do, undo all the hard work of the last few years ?

[losses] 08/3/2018 08:06

So are we heading for 177?

[losses] 08/3/2018 07:55

Nice one.. NAV 306

[jonwig] 08/3/2018 07:31

Very good results, but a rights issue wasn't in the frame, I thought. At least it's a 'positive' one, not a rescue operation.

Haven't the spare ISA cash to take up in full, will need to think about options. Theoretical xr price about 250p.

Dividend 8.7p, xd 19/04, pay 18/05.

[jonwig] 07/3/2018 18:18

That was the closing auction, uncrossing trade. Sorry - not a 'big buy'.

[mfhmfh] 07/3/2018 17:06

looks like a big buy went through at 16.35 today. results tomorrow with hopefully details of special dividend.

[jonwig] 05/3/2018 17:54

@ ollie - it's 8th March according to the company calendar.

Oversold? - Yes, I'd say so.

[olliemagern] 05/3/2018 17:37

Carillion was badly run and deserved to fail.
JLG is well run and deserves to succeed.
I'm expecting around 305p Net assets tomorrow and 340p for Y Dec 2018.
At 270p JLG is oversold.

[igoe104] 12/2/2018 11:19

moving up now, it won't be long before its special divi time.

[igoe104] 08/2/2018 15:19

Just got back in again at £2.61, could resist at this level.

[rlivsey] 29/1/2018 10:41

Was writing on a different board

[alter ego] 28/1/2018 09:33

Carillion? Don't you read the news?