Phoenix Share Discussion Threads

[jonwig] 31/5/2018 08:35

Brancho - Skinny's post #2732 has all the dates.

[brancho] 31/5/2018 08:26

Hi all,
I understand record date for the rights is 22 June for those that hold but what date is the dead line for decision? Tia

[jonwig] 31/5/2018 07:55

Full circular is 443 pages long - possibly a record.

[garycook] 31/5/2018 04:11

46.88p it looks like then.Trying to get 100% confirmation from PHNX.They have received my request through the PHNX F/B account.Now just waiting for PHNX to reply.I will update if and when PHNX staff reply,which they did regarding the delaying of the Rights circular.

[stemis] 30/5/2018 23:44

I make it 46.87p but what's 0.02p between friends...

[bluemango] 30/5/2018 22:53

Would anyone else like to estimate a possible post-rights annual dividend amount? My thanks to those who have posted their suggestions already. I find the company pronouncements on this matter ambiguous, but some may have more understanding of how it will be calculated.

Do others think 46.89p is in the ballpark?

[skinny] 30/5/2018 16:34

I believe this is still current -

[doubleorquits] 30/5/2018 16:25

Ian, that is what I understand as well. There is an alternative method of entry if below 90th though and that is when one or more stocks are automatically relegated because they fall below the threshold. Then, the highest stock(s) in FTSE 250 will replace even if they are below the entry threshold themselves.
It appears the opposite is happening this time with neither GFS nor MDC below the exit threshold but both will leave as GVC and OCDO are automatic qualifiers in their own right.

[ianood] 30/5/2018 16:17

Gary, I believe that there are two requirements for discussion about inclusion/exclusion. I must confess I don't know which is the dominant driver:

FTSE 100 - Risen to 90th or above
FTSE 250 - Risen to 325th or above

A security will be deleted at the periodic review if it falls below the position stated below:
FTSE 100 - Fallen to 111th or below
FTSE 250 - Fallen to 376th or below

[jonwig] 30/5/2018 15:55

FTSE 100? You can probably work it out from this, currently at 143rd spot, then do the sums:



My basic calc would be (3036 + 950)*1.20 = 4176, so very close!

[garycook] 30/5/2018 15:04

ianood,To enter the FTSE 100, you need to be in 90th place or above.GVC and Ocado have just been entered with Mcap,s of 5.9 Billion

[ianood] 30/5/2018 14:59

Gary, there are 5 cos in the FTSE 100 with market caps below £5bln
hxxps://uk.webfg.com/index/FTSE_100

[garycook] 30/5/2018 14:52

Speeds,Thank you.I believe your not far off the mark with your figures.

[garycook] 30/5/2018 14:50

hvs,5.6 Billion.Would not have made it to the FTSE atm,but maybe in 3 months time if the share price increases to its year high of 820p,and beyond.

[speedsgh] 30/5/2018 14:48

£338m dividend payout / 720,890,689 shares in issue post RI/acquisition completion = 46.89p

But not sure of that is correct. It is hot, my brain is somewhat fuddled and not sure if I have taken into account all relevant factors. Not quite sure how 46.89p stacks up against "Taking into account the impact of the Rights Issue and the associated bonus adjustment, this is approximately equivalent to a 4.3 per cent. increase in the dividend per share based on the share price of 772 pence as at 29 May 2018"?

There are people here far more competent than myself who will doubtless clarify in due course.

[garycook] 30/5/2018 14:43

Speeds,Thanks that would make the Dividend around 47p ?

[hvs] 30/5/2018 14:43

Sure to be an FTSE 100 company.

[speedsgh] 30/5/2018 14:37

@gary - Think you've forgotten the Acquisition shares to be issued to Standard Life upn completion of the acquisition. These are in addition to the Rights Issue shares.

See pg69 of the Prospectus/Circular...



Number of Shares in issue at the date of this document = 393,262,255
Number of New Shares to be issued by the Company [under the Rights Issue] = 183,522,385
Number of Shares in issue immediately following completion of the Rights Issue = 576,784,640

Number of Acquisition Shares to be issued [to Standard Life] = up to 144,106,049
Number of Shares in issue immediately following Re-admission = 720,890,689

[garycook] 30/5/2018 13:11

jonwig,With the new total of shares in issue after the RI of 576,782,385 PHNX shares dividend by 338M gives a dividend of 58.6p by my calculations ? But PHNX are giving a 4.3% increase in the dividend which would amount to 52.36p ?

[hvs] 30/5/2018 10:45

Thank you jonwig.

Think this is a very good good share to hold over next few years.

[jonwig] 30/5/2018 10:05

hvs -

"The New 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 this announcement."

[hvs] 30/5/2018 09:46

Jonwig you were spot on. Will the rights shares be paid the next divi in September ? Anyone know ? Thank you for your thoughts.

[skinny] 30/5/2018 09:03

Abridged expected timetable of principal events

2018(1)(2)

Publication and posting of the Circular and Prospectus, the Notice of General Meeting, the Form of Proxy and the Form of Instruction............................................30 May

Latest time and date for receipt of General Meeting Forms of Instruction.......................................11.00 a.m. on 21 June

Latest time and date for receipt of General Meeting Forms of Proxy 11.00 a.m. on 22 June

Rights Issue Record Date...................................................6.00 p.m. on 22 June

Standard Life Aberdeen general meeting..............................11.00 a.m. on 25 June

General Meeting...............................................................11.00 a.m. on 25 June

Despatch of Provisional Allotment Letters (to Qualifying Non‑CREST Shareholders only(3))..................................... 25 June

Admission........................................8.00 a.m. on 26 June

Dealings in New Shares, nil paid, commence on the LSE.......8.00 a.m. on 26 June

Latest time and date for requesting Cashless Take-up or disposal of rights using the Special Dealing Service............3.00 p.m. on 2 July

Latest time and date for acceptance and payment in full and registration of renounced Provisional Allotment Letters..11.00 a.m. on 9 July

Results of the Rights Issue to be announced through a Regulatory Information Service........................................By 8.00 a.m. on 10 July

Dealings in New Shares, fully paid, commence on the LSE....8.00 a.m. on 10 July

Latest time and date for dealings in the Shares...................4.30 p.m. on the date prior to the date of Completion

Expected date of Completion...........................................On or before 31 December 2018 (but not before 31 August 2018)

Cancellation of listing of the Shares.................................Immediately prior to 8.00 a.m. on the date of Completion

Re-admission................................................................8.00 a.m. on the date of Completion

Notes:

(1) The times and dates set out in the expected timetable of principal events above and mentioned throughout the Circular and Prospectus, by announcement through a Regulatory Information Service, and in the Provisional Allotment Letter may be adjusted by the Company, in which event details of the new dates will be notified to the UKLA and to the LSE and, where appropriate, to Shareholders.

(2) References to times in this announcement are to London time unless otherwise stated.

(3) Subject to certain restrictions relating to persons with registered addresses in, or who are citizens, residents or nationals of jurisdictions outside the United Kingdom.

[miti 1000] 30/5/2018 08:38

Yes, a bit weird but not the first time I've seen that important date omitted.