National Grid Share Discussion Threads

[gbh2] 19/6/2024 12:21

What impact is a likely Labour government going to have on NG?

[rado6700] 19/6/2024 11:48

It's a defensive stock and in need of infrastructure update Short term pain but once the job is done it'll be purring and a stable profitable UK PLC

[skinny] 18/6/2024 13:50

Agreed and oh for either of those prices!

[newbank] 18/6/2024 13:15

Skinny,

Post 9578: FWIW :- Barclays cuts National Grid price target to 1,120 (1,365) pence - 'overweight'

The new Price target of £11.20 from £13.65 is as indicated, 'positive', if taking into consideration the share Rights Issue, before any substantial growth has taken place, ie, Pre Rights, shares in Circ was 3.7 billion, shares in circ, post Rights, is 4.8 Billion.

So all things being equal, so to speak, the original target price was based on a Cap Value of £50.5 Billion (£13.65 X 3.7 = £50.50). New target of £11.20 with 4.8 Billion shares in Circ is valuing the Company at £53.76B. Some way to go before the prospective valuation, post upgrades to the 'System', of £100B is achieved (as Andy Agg CFO has forecasted).

BTW if Andy's forecast comes to fruition the share price should be circ £20.83

[skinny] 18/6/2024 09:32

FWIW :- Barclays cuts National Grid price target to 1,120 (1,365) pence - 'overweight'

[parknas] 16/6/2024 13:22

Ok,thanks that explains it.

[viscount1] 16/6/2024 12:52

Re: EU

Your ii shares are held in a nominee account in the UK, so they qualify.

In the EU only a qualified investor (i.e. a professional) will be entitled to act.

[parknas] 16/6/2024 12:26

Update on this issue.
Anyone have this problem
I have National Grid shares with II.UK and I can take part in the rights issue.
I also have National Grid shares in certificate form and I am told I cannot take part.
I am living in Ireland.
After about 10 phone calls this morning to Equiniti, which consisted of being put through to the previous numbers I had rung.
I was told it was because I live in Ireland.
When I said I can take part with my II.uk account I was just giving one of the numbers I phoned early.
On the subject, do Equiniti have an email that you can get through to?

I received my National Grid shares with II.UK.
I got a letter from National Grid saying I was in an Excluded Territory and could not take part.
Also an email from Equiniti quoted below,
Thank you for contacting us in relation to the National Grid Rights Issue.
We can confirm that unfortunately under the terms of the offer any address registered in the EEA is unable to take part in the Rights Issue
I was wondering did anyone outside the UK managed to take part in the share issue?
As I was able to do with II.UK.

[goldgeezer] 16/6/2024 10:42

Oops, wrong board.

[bountyhunter] 15/6/2024 18:49

That depends on how they deal with it, for example personally I got less than that re 7 rights for 24 shares I held on to to see what happened. I sold the rest of my shares on the day of the RNS and I'm glad I did. Fees are variable and it's down to the small print in T&C's how each broker deals with a rights issue.

[viscount1] 15/6/2024 16:30

It's not up to the broker: the lapsed rights are dealt with by the underwriters.

One should receive the rump price minus the offer price:

835 - 645 = 190p per NGPN

Minus a little extra for fees.

(And that is a terrible price BTW.)

[bountyhunter] 15/6/2024 13:43

The question is what you will get re your lapsed rights. You would think it would be at least a couple of quid but I have heard of significantly less. I think there's already been a few posts previously on expired rights. The detail is probably in the small print for ii as elsewhere if you can find it.

[viscount1] 14/6/2024 21:00

It can take weeks to get the cash for lapsed rights.

[gilesy911] 14/6/2024 18:35

Thank you I'm with II so I'll keep checking All the best

[bountyhunter] 14/6/2024 17:25

Gilesy911 that depends on your broker but most will have settled already depending on their terms and conditions. You may not get what you might expect depending on how your broker handles expired rights according to their T&Cs.

[phillis] 14/6/2024 16:36

Might be the biggest
Still worked in a bog standard way

[viscount1] 14/6/2024 15:48

It is not bog standard: this is the biggest rights issue in the UK since 2009, and that was Lloyds to stop them going under during the financial crisis.

In addition the rump sale is extremely poorly priced.

[1carus] 14/6/2024 13:52

Kinda glad I got out of these earlier in the year, moved the cash in to lloyds which did well then back in to here ex-divi. For once something worked out well. I expect a steady growth from here that will re-coup any short term loss for long term shareholders.

[gilesy911] 14/6/2024 13:51

When do the shareholders that let their rights lapse get funds

[skinny] 14/6/2024 12:59

I'm still smarting here.

I've shelled out for the rights and I'm currently @7.8% down in value terms from the high of 1145.50p.

[phillis] 14/6/2024 12:50

What has all the fuss been about

Bog Standard rights issue
Bog standard rump sale by underwriters
Job done

Move on

[anhar] 14/6/2024 08:32

GP: Seriously though, what happens to that cash?

It is paid out to shareholders who let their rights lapse.

[kinwah] 13/6/2024 22:42

Typically the same institutions who underwrite the rights issue will get the call on the rump. The rump price is set by the brokers to the issue on the basis of what price they think is needed to 'get it away'. The company has no say in pricing the rump as it has already got its money. Underwriting is money for old rope until it goes wrong.