Rpc Share Discussion Threads

[typo56] 09/2/2017 11:38

TERP applies once they are ex-rights. Today they are still cum-rights.

[egrid1] 09/2/2017 11:38

My broker is telling me the price today is ex rights as the record date was the 7th.

[egrid1] 09/2/2017 11:36

Phillis, you are absolutely right, need to brush up as its a long time since I did a TERP calculation. I forgot to add in the capital raised in the rights issue, to the capitalisation, to determine the TERP, so thought the shares had dropped and city did not like the deal.

[typo56] 09/2/2017 11:29

The record date IS NOT the same as the ex-rights date. Just as the ex-div date is not the same as the record date.

It's a back office procedual thing. If you sold shares in certificated form yesterday or today (cum-rights) it's possible you still might receive rights notification. However, those rights are claimed by the person who bought the shares.

[miti 1000] 09/2/2017 11:28

Your broker is right,Ed !! Finally, we are getting somewhere!!

[miti 1000] 09/2/2017 11:27

Here we go again, Typo. The retail investor never understands right issues and keep banging on about the record date.

Esther and Phillis, I will accept your apologies , tomorrow, on being wrong !

[ed 123] 09/2/2017 11:24

Hmmmmm ..... differences of opinion.

My broker told me RPC was ex - rights already today. But then they reconsidered and are now saying it is definitely cum-rights today. Goes ex-rights at the close of business today. I hope that's correct now.

Apologies to you, Esther1975, and to others.

[esther1975] 09/2/2017 11:20

Well said phillips ?. Hats off

[phillis] 09/2/2017 11:15

Record date is close of business 7 Feb
otherwise you could buy today at the lower price etc

which of course you cannot and also enjoy the rights

the price is already reflecting the TERP which is 980p

Brush up guys

[esther1975] 09/2/2017 11:14

I have Re read the rns I read it that you had to own shares on the 7th Feb to claim rights. If I'm right then it makes sense why price is falling as you don't get opportunity to buy rights today. Seems a little odd. Feel free to comment

[miti 1000] 09/2/2017 11:12

Its been very painful for me , Typo, if that is the reason.

[typo56] 09/2/2017 11:08

You can buy today to get rights, otherwise you'll be wondering why they open lower tomorrow! If today's dip is due to people thinking they're already ex-rights, then a buying op?

[egrid1] 09/2/2017 11:08

It cannot be that the shares go ex rights on 7 February (day of record), where announcement is made on 9 February - it would mean those buying the shares yesterday, on 8th were unknowingly buying diluted shares, without the rights, at the pre rights price.

[esther1975] 09/2/2017 11:07

Thanks for clearing that up miti that's what I thought.

[miti 1000] 09/2/2017 11:07

Lol, you were right 1st time, Esther!!

[esther1975] 09/2/2017 11:06

Sorry typo I meant you can't buy today to get rights.

[esther1975] 09/2/2017 11:04

That was monday. So you can buy today to get rights

[miti 1000] 09/2/2017 11:04

Ed 123, irrelevent, the ex-date will be tommorow am . You can only take part in the rights issue if you hold the shares at close of business tonight.

[ed 123] 09/2/2017 11:01

From today's announcement ...

Record Date for the Rights Issue Close of business on 7 February 2017

[esther1975] 09/2/2017 10:57

When does it go ex rights? Normally the price opens down on the day of ex rights

[ed 123] 09/2/2017 10:57

Yes, miti 1000, unlikely at the next reshuffle.

I said by the end of this year, meaning, give it another 10 months and it might be somewhere close.

[ed 123] 09/2/2017 10:54

Disagree, Esther1975.

The market hasn't "reacted" downwards. The share price has fallen to approach the ex-rights level - a perfectly normal response.

There is nothing odd or "hardcore" about the raising, either. All looks normal to me.

[miti 1000] 09/2/2017 10:52

Edited...Having checked it has zero chance of making the next review as the rights issues shares will not be taken into account at the next review.

[esther1975] 09/2/2017 10:50

Ok I now get why the market has reacted downwards. The rights issue will go ahead even if the deal falls through. It does not need shareholder approval. That's pretty hardcore. Rpc have said if the deal falls through then they will use the funds raised for other acquisitions. That's very naughty and the market doesn't like it. But having said that looks a great deal if it goes through. AIMHO

[cheshire pete] 09/2/2017 10:45

Have taken up the last 3 rights issues and will take this one up in full. The company is following their tried and tested formula, which I am completely comfortable with.