Phoenix Share Discussion Threads

[bluemango] 05/7/2018 11:50

H-L deadline to receive instructions and have funds in place is noon today (so you have 10 mins to get your act together!)

[jonwig] 05/7/2018 11:39

hvs - they can't do that ... long-term contracts to observe.

And what might be good for me, a modest private investor with no responsibilities outside family, will not be good for a large business. And anyway, I might have got it very wrong, but nobody will get hurt from my error.

[hvs] 05/7/2018 11:07

If you believe both markets are grossly overvalued, it makes some sense.

Best then to close the business down and return the money to shareholders and policy holders. Simples really.

[jonwig] 04/7/2018 14:54

Well, so did I sell my np ... and the last one! Whilst I think PHNX is a great company, well-managed and extracting lots of value from acquisitions, its assets are bonds and shares.

If you believe both markets are grossly overvalued, it makes some sense. Its capital surplus is probably not going to be stretched but the same can't be said of its share price. In a severe market correction, its share price will suffer.

Note to Skinny: "has enough already". More or less my situation: preservation.

[grahamburn] 04/7/2018 14:51

It isn't clear from the announcement whether True has sold ALL his rights or just some of them (to finance converting the remainder into new shares). If the latter that is not necessarily an unusual event.

However, if my maths is correct the number of rights sold would equate to an existing holding of 59,266 shares (give or take the odd share) prior to the rights issue. A very quick glance at the last Annual Report doesn't reveal his holding so cannot determine the answer to my original query. I am not going to bother trawling through old RNS's to resolve that query.

Suffice to say that close on 60,000 shares is a reasonable holding for an individual who is not a main board member. So Skinny's comments probably stand as possible explanations.

[skinny] 04/7/2018 14:24

And at a reasonable price!

Perhaps :-

he needs the money

doesn't have the money to take up the rights

has enough already?




Knows something we don't 😮

[hvs] 04/7/2018 14:00

What is going on ??

a) Name Simon True
--------------------------- -----------------------------------------
2 Reason for the notification
----------------------------------------------------------------------
a) Position/status Group Corporate Development Director
& Group Chief Actuary

Sold his rights entitlement . Why ???

[essentialinvestor] 04/7/2018 13:36

Added a small amount.

[lauders] 04/7/2018 02:28

2,380 happy people......Phoenix reunites almost £13 million of lost policies with their rightful owners:

[ianood] 29/6/2018 21:15

schofip - thank you and no worries :)

[stun12] 29/6/2018 17:15

The part-paids gapped up to 170p just before the close though PHNX didn't fully keep up (should have been 688p at that stage). Interesting that PHNN is leading the way...rights take up going well?

[hvs] 29/6/2018 16:50

chuckol
29 Jun '18 - 11:17 - 2908 of 2915
0 1 2
jonwig

does not have the slightest clue about anything. He likes to act superior, but he's pretty unintelligent and unprincipled.

Who let this IDIOT out of the asylum ???

[zangdook] 29/6/2018 16:27

IG came through this morning. They haven't acknowledged my email instruction but perhaps they're trying to find the keyboard under the pizza boxes.

[johnjohnjones] 29/6/2018 15:58

You should worry. Try HSBC InvestDirect. The Sphinx offers clearer communication and the heat death of the universe may well occur before they contact customers about rights issues.

[schofip] 29/6/2018 13:00

oops Sorry Ianood looks like I picked the wrong end of the stick.

[ianood] 29/6/2018 12:52

schofip, comment aimed at poster chuckol not you!

[schofip] 29/6/2018 12:47

Just for information noody I have been on ADVFN for the last 15 years and I only post when I have something to say worth listening to. Maybe other people might want to follow my lead.

[ianood] 29/6/2018 12:43

Jonwig, looks like you have picked up a troll with all of 1 months worth of ADVFN history and no positive comment at all! Another one for the filter!

[schofip] 29/6/2018 12:31

If Jonwig appears to act superior (which in my opinion he doesn't) this is because in my opinion his knowledge is far superior to virtually every other poster on here. Not sure which stone you crawled from under but I would go back if I were you. You won't find much traction for your comments on here

[chuckol] 29/6/2018 11:17

jonwig does not have the slightest clue about anything. He likes to act superior, but he's pretty unintelligent and unprincipled.

[zangdook] 29/6/2018 05:32

...and IG still haven't notified me or shown the rights in my account.

[garycook] 29/6/2018 02:45

Depending on your broker. HL is noon July 5,and ii is July 4.

[schofip] 28/6/2018 17:26

i have received a message from AJ Bell requesting my rights allocation take-up which I have now done. This now appears as a separate line of stock in my ISA portfolio. The cash requirement has been allocated but not yet taken. Not sure when the actual purchase takes place.

[rcturner2] 28/6/2018 15:54

Yes I have.

[my retirement fund] 28/6/2018 15:36

Anyone been able to allocate their rights with AJ Bell ?