Phoenix Share Discussion Threads

[garycook] 28/6/2018 08:45

Around 728p

[solarno lopez] 28/6/2018 08:38

I blame it on the heat Zangdook and appreciate the correction

[zangdook] 28/6/2018 08:35

The rights are trading around 145-147, and you only get 7/15 of a right per share, so it's not quite as good as that, solarno.

[solarno lopez] 28/6/2018 08:20

No idea why its tanking but if we take the rights price of 158p add it to the share price of 660p we get 818p which is still above the pre rights price.

So I am content

[stun12] 28/6/2018 08:14

Pretty big cash call. Maybe a couple of the instis aren't going to take up the full amount? Kids' LISAs are ready for more :-)

[hvs] 28/6/2018 08:13

Its hedge funds doing the round. Just have to be patient. Watch what happens when the deal is done .

PHNX is in excellent shape.

[zangdook] 28/6/2018 08:08

More to the point, why is this tanking so badly? Is it just the market in general?

[zangdook] 28/6/2018 08:06

Masurenguy

"why don't you phone Phoenix Group Investor relations and ask them"

Why would I phone them to ask questions which are clearly answered in the prospectus? Did you even look at it?

You really should get one of those beginners' books and read up on record dates.

[hvs] 27/6/2018 22:53

Go to sleep u IDIOT

[robsy2] 27/6/2018 15:07

Hi everybody
Happy days here. Reasons to be cheerful . . Listen and share as jonwig says.
R2

[madmix] 27/6/2018 14:15

Thanks for the formula jonwig. I've been out of PHNX since the end of Feb at £8, but am keeping an eye out for any weakness.

660p is a very tempting level, as it equates to 726p, which is the level it bounced from in early Feb. It hasn't really been lower than that since December 2016.

[jonwig] 27/6/2018 13:51

stun - yes.

The reverse formula is: OP = (22*NP - 7*518)/15 which confirms, within a penny or so.

[stun12] 27/6/2018 12:53

Do we agree that we're at about 740p in old money with PHNX (XR) at 670p and PHNN at 151p? Has always been a good area to buy in the past...

[edmundshaw] 27/6/2018 10:10

Well we are all agreed we are ex rights now. :-)

The question I have seen asked is whether it is better to buy/sell now or by exercising/lapsing the rights. Sadly, there is no way to make money by some kind of arbitrage as the lapsed shares will only be worth what the market will pay for them, and that will be decided by the market price of the shares at the cut-off date. So IMO just decide on your preferred holding size and do what you have to to reach it; and buy or sell if you think there are opportunities to do so, in the normal way.

In other words, there is nothing special to see here from a trading standpoint unless you think you can predict the behaviour of other actors...

[jonwig] 27/6/2018 10:06

Bengrady - 'ask your broker'. yes, but in the hope they know. Since I hold mine in an ISA, I'm not involved. But are these a help?

[hvs] 27/6/2018 09:21

Can anybody advise on the compensation amount likely per share? Ask your broker

[jonwig] 27/6/2018 09:12

solarno - the basic sum is "NIL-PD + 518 = SHARES". If this gets out of line, there might be an opportunity.

If you buy nil-pd you'll pay stamp duty. If you buy shares you'll pay stamp duty (I'm pretty sure, I haven't been buying any for years). But the nil-pd stamp duty will be lower as it's 0.5%.

Prospectus p336;

The Company also
expects that SDRT at a rate of 0.5 per cent. will be collected by CREST on a transfer of any Nil Paid Rights or Fully Paid Rights settled through CREST.

[bengrady] 27/6/2018 09:09

Nil paid rights and CGT. My portfolio shows my nil paid rights value which is liable to CGT as strictly speaking it is all again. I may decide not to take up my allocation and wait for the compensation to come through as I don't think compensation is classed as a gain. Can anybody advise on the compensation amount likely per share?

[solarno lopez] 27/6/2018 08:59

Is it better to buy the nil paid rights or the shares at this point in time ?
Thanks

[yupawiese2010] 27/6/2018 08:28

Spot on jonwig, Lauders, Gary C - mighty glad when this R.I is " done & dusted " to enable us hopefully to return to normality on this board.

[rcturner2] 27/6/2018 08:28

MG, my comment wasn't aimed directly at you, it was more about the fact that the brokers don't seem to know the correct date either.

You are making a mistake mixing up the record date and the ex rights date.

[lauders] 27/6/2018 02:14

It would be lovely if we could all just move on now please?

Clive Bannister, CEO Phoenix Group comments: “We are delighted to announce these important appointments which will strengthen the Phoenix management team. We are bringing the two firms together by utilising the respective strengths of both. I am especially delighted that Susan is to become the new CEO of Standard Life Assurance. She has played an important role with customers and regulators for Phoenix Life and her experience and leadership will deliver significant benefits to our new enlarged business going forward”.



Going forwards being the apt words here. Let's go forwards together and prosper ;-)

[masurenguy] 26/6/2018 22:12

zangdook26 Jun '18 - 2869: Your idea that "Shares bought on Monday June 25th may or may not be entitled to participate in the rights issue" is utter rubbish. There is no "may or may not" in the market. Read the prospectus. As I said before it has a Q&A section which lays this all out. Saying "I asked somebody and they said I was right" when you are plainly contradicting both the prospectus and the market just makes you look silly. Next you'll be telling us the lurkers support you in email. You need to get an investing for beginners book and read it carefully. And apologise to anyone who was misled by your nonsense.

If ignorance and arrogance is bliss then you must be very happy. Instead of ranting why don't you phone Phoenix Group Investor relations and ask them. But then I guess that they are all completely stupid too so you will have the opportunity to explain to them why you are right and they are wrong.