John Laing Share Discussion Threads

[igoe104] 11/5/2018 08:28

Looking good here for an attack of the £3 barrier in the near future.

[igoe104] 18/4/2018 07:05

Ex divi tomorrow, last chance to top up today to receive the special divi.

[olliemagern] 04/4/2018 16:32

Felix, selling at 270p would be a mistake, this year the majority of disposals will be in the first half, by half Year June NAV will be close to 300p.
With such a good performance over the past three years, JLG should in time be commanding a premium to NAV.

[igoe104] 29/3/2018 08:44

Good volume already today, 808,984. I expect JLG will be in the process of doing some due diligence on potential acquisition, at the moment, I imagine in North American.

[felix99] 28/3/2018 15:00

sold some myself today - its near trading at NAV of 272 quite a close from the 10% discount pre rights

[igoe104] 28/3/2018 12:13

Good to see to see a director buying a large amount at £2.68.

[igoe104] 27/3/2018 10:31

mine have been added to my core holding, I will be certainly holding, with all these funds I can only see these hitting £4 - £5 over the next few years.

[jonwig] 26/3/2018 12:15

Rights not taken up - should get 251p (maybe less costs).

[skinny] 26/3/2018 06:22

The Company today announces that as at 11.00 a.m. on 23 March 2018 (being the latest time and date for receipt of valid acceptances), it had received valid acceptances in respect of 118,693,628 Rights Issue Shares, representing approximately 97.03 per cent. of the total number of Rights Issue Shares offered pursuant to the 1 for 3 rights issue announced by the Company on 8 March 2018 (the "Rights Issue").

It is expected that dealings in the Rights Issue Shares, fully paid, will commence on the London Stock Exchange's main market for listed securities from 8.00 a.m. on 26 March 2018.

It is also expected that the Rights Issue Shares held in uncertificated form will be credited to CREST accounts as soon as practicable after 8.00 a.m. on 26 March 2018, and that definitive share certificates in respect of Rights Issue Shares held in certificated form will be dispatched by no later than 6 April 2018 to Qualifying Non-CREST Shareholders who have taken up their Rights.

In accordance with their obligations under the Underwriting Agreement, Barclays Bank PLC ("Barclays") and HSBC Bank plc ("HSBC", together the "Underwriters") shall severally use their reasonable endeavours to procure, on behalf of the Company, by not later than 5.00 p.m. on 27 March 2018, subscribers for all (or as many as possible) of the remaining 3,626,416 Rights Issue Shares not validly accepted, failing which the Underwriters have agreed to subscribe for any remaining Rights Issue Shares on a several basis and in their agreed proportion.

To the extent that such Rights Issue Shares are sold at a premium to the Rights Issue offer price of 177 pence per Rights Issue Share, such premium (after deduction of applicable fees and expenses) will be paid (without interest) to those persons entitled pro rata to the entitlements not taken up in accordance with the terms of the Rights Issue, save that no payment will be made of amounts of less than £5.00 per holding, which amounts will ultimately accrue for the benefit of the Company.

A further announcement as to the number of Rights Issue Shares for which subscribers have been procured will be made in due course.

Capitalised terms not otherwise defined herein, are defined in Part 17 of the prospectus published by the Company on 8 March 2018 in connection with the Rights Issue (the "Prospectus"), which is available on the Company's website at www.laing.com.

Total Voting Rights

In accordance with the FCA's Disclosure and Transparency Rules, the Company notifies that, as at 26 March 2018, the total issued share capital of John Laing Group plc is 489,280,178 ordinary shares of 10 pence each with one voting right per share. There are no ordinary shares held in treasury.

Therefore the total number of voting rights in John Laing Group plc is 489,280,178. This figure should be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in, or a change in their interest in, John Laing Group plc under the Disclosure and Transparency Rules.

more.....

[jonwig] 23/3/2018 12:21

New Edison note. Summary:

John Laing Group’s (JLG) FY17 results delivered further growth in DPS and NAV and highlighted the increasing internationalisation of the business. The announcement of a rights issue to fund future growth was unexpected, but we see significant opportunity in the global infrastructure market. At the current share price of c 260p, JLG stands at a significant discount to its adjusted NAV per share of 281p.

[capricious71] 21/3/2018 14:26

I think Shareprice still don't charge any fees except for transactions. I really ought to switch to them. I think they're part of III but I don't know if the service is better or worse.

[yf23_1] 20/3/2018 15:49

I've taken up my rights.

[alter ego] 20/3/2018 12:32

I use HL but mainly for individual stocks rather than funds. Find them helpful, responsive both on the phone and by secure message and generally efficient. I pay £3.75 per month for my 2 accounts (only one fee) and £11.95 per trade. They were on the ball with this right issue despite short notice.
No problem depositing funds by debit card and can trade immediately even though funds take a couple of days to leave my bank.

[capricious71] 20/3/2018 11:44

I use III. They're ok but charge 20 quid per quarter for not doing very much. It gives you 2 free transactions but I don't buy shares that often.

[tarzan2222] 20/3/2018 11:34

Thanks guys. The background to this is I deposited the funds into my account via debit card and a phone call. As I have both a general and ISA account I asked twice to confirm the funds were going into my ISA account. "Yes sir, don't worry sir, I confirm the funds will go into your ISA account". They put the funds in my general account instead. It takes them several days to transfer so I now will miss the deadline for the rights issue (which is today from that broker). I tried selling the nil rights but they would not let me. As I go through a third party and do not deal directly with the broker they would not discuss with me claiming they did not have a contract with me. I disagree - they have my ISA funds, surely there is a legal contact between us. So of the options available, my only option is to let them lapse - I can't buy the full rights or sell the nil rights. Damn right I will be complaining - putting money into an account for what is was not intended is strictly against FCA rules. I will be complaining loudly once this is over. In the meantime, can anyone recommend a good broker? Oh, and do not use James Brearley unless you enjoy tons of hassle.

[jonwig] 20/3/2018 09:53

You should have the nil-paid rights on your account, their price is around 75p. If he won't let you take up your rights for some reason, just sell the nil-paid and use the money to buy some ords. If, as you say, he won't let you sell them, ask for a clear reason why not. You may need to do it by phone, not online.

If you do nothing, and let your rights lapse, they'll be sold in bulk but how much you'll receive isn't certain. The deadline for take-up or sale should be the 23rd.

Write a formal complaint (follow his procedure for this, which should be on his website) and if it's not resolved tell him you'll refer to the ombudsman. He won't like that at all, and you should get compensation.

[skinny] 20/3/2018 09:49

From HL :-

"What are my choices?

Under the terms of the Rights Issue Shareholders have been credited with 1 John Laing Group plc Nil Paid Share (Right) for every 3 Shares held at the close of business on 8 March 2018. You have therefore been credited with nnnn Rights. You have 3 options to consider in respect of these Rights and these are explained below in more detail.

Option 1 - Do nothing. If you do not return an election by the deadline of noon Wednesday 21 March 2018, the Offer will lapse and your Rights will be removed from your portfolio. If a lapsed Rights cash payment is made it will be credited to your Account upon receipt.

Option 2 - You can take up your Rights in full or in part. Each Right may be used to purchase one Ordinary Share at a price of 177p per Share. You may therefore purchase up to nnnn Shares at a cost of £nnnnnn. Please refer to the questions and answers in the Appendix for details on how to purchase the Shares on offer.

Option 3 - You can sell your Rights. You can sell your Rights in the market subject to a special flat rate commission of £10.00. The proceeds will remain in your Account. Please note that if you wish to sell your Rights at the prevailing market price you should contact our Dealers on 0117 980 9800 (N.B. we are unable to accept instructions to sell your Rights that are sent via our website and such instructions will not be executed)".

[tarzan2222] 20/3/2018 09:42

Due to an utterly incompetent broker (James Brearly) I may be unable to take up the rights issue. Does anyone know what ultimately happens in this situation? I have the nil rights shares in an ISA, and it does not allow me to sell them (unsure if you can actually sell them - previously I have always just taken up a rights issue). Do I just lose the money if I do not convert? Are there any options?

[mfhmfh] 19/3/2018 09:59

'Peel Hunt today reaffirms its buy investment rating on John Laing Group Plc (LON:JLG) and raised its price target to 355p (from 350p).'

[mfhmfh] 13/3/2018 11:03

good announcement today - business continuing as normal. IMHO.

[gonzela] 09/3/2018 22:05

Thank you Typo.

[topvest] 09/3/2018 22:03

I'm taking up the rights issue.

[typo56] 09/3/2018 20:08

Yes

"The Rights Issue Shares, when issued and fully paid, will rank pari passu in all respects with the Existing Shares, including the right to receive dividends or distributions made, paid or declared after the date of issue of the Rights Issue Shares including the final base dividend and special dividend for the year ended 31 December 2017."

I can't see it would have been workable any other way, given the rights trade fully paid from 26 March but the ex-divi date isn't until 19 April.

[gonzela] 09/3/2018 18:26

Guys, do the new shares qualify for dividend?