John Laing Share Discussion Threads

[felix99] 09/3/2018 10:31

I did get some at 254 yesterday but they were a nightmare to try and buy

[felix99] 09/3/2018 10:30

Share price in old money is about 277 to get to current price of 250p. I should have bought more yesterday - thought might get some cheap ones today.

[felix99] 09/3/2018 10:13

xr rights price is easy - subject to what discount to net asset value the market applies to the shares.

NAV 31/12 £1124m - money raised from rightsd £210, = total nav = £1334m

Shares post rights issue 489m

Revised NAV per share £2.72 . Then take whatever discount you want to NAV .

At close yesterday price was 263 so discount to NAV at £1124m was 13% so apply 13% to 2.72 and you get 2.37 a share

However if you use circa 270 - as I would argue the 263 close was a factor of people selling to fund the rights take up - the discount is nearer 10/11% which gives XR should be 244/5 or so

[typo56] 09/3/2018 08:42

losses, I think 200p ex-rights would be equivalent to about 207.7p cum-rights. There didn't appear to be the appetite for that kind of fall yesterday.

[jonwig] 09/3/2018 08:42

gonzela - you can buy an ord in the market for 245p.
You can buy an ord for 177p by exercising a nil-pd, so a nil-pd should cost you 68p in the market.

[gonzela] 09/3/2018 08:38

Why is it different from the 177p?

[jonwig] 09/3/2018 08:34

The nil-pd (JLGN) are quoted 65.15-70 - might settle and narrow in due course.

[losses] 09/3/2018 07:15

Was thinking this night heads towards 200 after xr..

[jonwig] 09/3/2018 07:12

XR price should open at ~243p. The nil-paid should begin trading at ~66p.

[igoe104] 08/3/2018 18:52

I think I'll try and organise some funds to be transferred into my share account, its something I'm not keen on, at the moment but I feel I have to.

[typo56] 08/3/2018 16:49

jonwig, thanks for explaining. I think I understand now why people might decide to sell JLG in order to take up rights when they have limited cash availble in an ISA account. Presumably if you get the numbers right you end up maintaining the same level of investment in the company.

I too agree the 'advisor' is talking rubbish! Ex-rights won't be reflected in the price until they go ex-rights, which is tomorrow.

[skinny] 08/3/2018 15:34

Post 376 or see post 360 :-)

[gonzela] 08/3/2018 15:28

I knew I shouldn't have been mesmerised by her beauty and should have used my brain instead when appointing her. Money and honey don't mix well.

[felix99] 08/3/2018 13:28

been buying a few here - impossible to buy when they drop the price but they will take stock off you no problem.

[felix99] 08/3/2018 13:27

Jonwig lol - I agree with you the advisor is talking rubbish lol

[jonwig] 08/3/2018 11:59

@ ollie - yes, thanks. I've asked this sort of thing before. Trouble is, our trading account is joint and they wouldn't play ball.

[olliemagern] 08/3/2018 11:56

jonwig and others, if you haven't enough cash in your ISA, your broker should allow you to buy the rights issue outside of your ISA, i.e. in a standard trading account.

[jonwig] 08/3/2018 11:25

gonzela - ref. post #376.

Change your advisor ...

[gonzela] 08/3/2018 11:21

OK, spoke to my advisor. She believes the drop due to the rights is already reflected in the price. Closing price last night was approx 274p.

((274*3)+(177*3))/4 = 250p

Market opened around 250p this morning and then bounced back to around 261p.

[losses] 08/3/2018 11:17

Guys ignore the record date... which is similar when shares go ex div.Simples - you need to hold shares overnight tonight to get the rights...

[jonwig] 08/3/2018 10:38

It goes xr tomorrow morning. The current indicative xr price will be:

(263*3 + 177*1)/4 = 242p.

[cb7] 08/3/2018 10:35

Typo - this share has gone ex rights - at the close of business on the 6th

[felix99] 08/3/2018 10:33

no will drop tomorrow for the rights.

[gonzela] 08/3/2018 10:10

Is this likely to drop tomorrow morning in light of the rights or has the drop been factored in already today? Thanks a lot, gents.