Rpc Share Discussion Threads

[miti 1000] 09/2/2017 12:48

Typo ,

The new shares won't be listed till 27th Feb. They will miss the cut off date whether T3 or T5.

[typo56] 09/2/2017 12:41

Esther1975, agghhhh! The number of times I've had to debunk that one! By that logic, neither shares bought OR sold between record date and ex-date would be entitled to the rights. Therefore, the amount of new shares the company could issue would be reduced by the number of shares traded in that period. Eh!

[esther1975] 09/2/2017 12:38

I hope your right typo

[typo56] 09/2/2017 12:36

We'll see. I fully expect IG to credit me tomorrow with the rights on my CFD position acquired today.

[ed 123] 09/2/2017 12:36

ARGHHHH!!!!

How can retail investors be expected to get it right when people working in the industry give out incorrect information?

[esther1975] 09/2/2017 12:34

Ok ig have it wrong. Just confirmed for definate that you can only have option of rights if you held and kept shares on 7th. How hard was that to find out. No wonder it's dropped. It's all good experience. But looks a good deal long term

[typo56] 09/2/2017 12:31

Yes, clear. The record date determines the cutoff date for receiving the allotment notifications. It does not determine who is entitled to receive the rights. If you've ever held shares in certificated form and sold between the record date you'll be expected to pass those rights on to the purchaser. This is normally something done by your broker and transparent to you.

It's ex-dates that matter to most punters. Record dates simply confuse the inexperienced.

Phillis, I suspect you've gone into troll mode and know you've got this wrong. Did you sell today, thinking you'd qualify for the rights? If the record date is the same as the ex-date, how do you explain previous rights issues announcements that have different record date and ex-dates?

[phillis] 09/2/2017 12:28

What do you lot think a "Record Date" is for?

[phillis] 09/2/2017 12:22

Typo
from your Shanks rights issue

"9.2 The Rights Issue

The Rights Issue will be made on the basis of:

3 Rights Issue Shares for every 8 existing Ordinary Shares or Firm Placing Shares

held by (or conditionally allotted pursuant to the Firm Placing to) Qualifying Shareholders at the Record Date."

CLEAR?

[typo56] 09/2/2017 12:21

Just had a quick look and I think RPC could make it into the FTSE100 at the review next month if the market cap is above about £4,300m. I think the new shares might be issued in time to be taken into account (because the increase is more than 10%) but I'm never certain with FTSE and they don't always stick to their own rules! However, I think it would still require an ex-rights price of at least around 1040p.

[miti 1000] 09/2/2017 12:15

cheshire pete,
Your calculations are miles out ,let alone methodology, for entry into the ftse 100. RPC may have a chance in June 2017.

[cheshire pete] 09/2/2017 12:07

Just done a quick calculation and for the increased share capital and based on the current share price of £10.03, they will be up with the likes of DS Smith, Rentokil, Royal Mail, Provident Financial around no. 100 in the FTSE 100 index. I would expect the 2020 vision that the company has would in time see them promoted into this index.

[typo56] 09/2/2017 12:05

Phillis, have a read of this Shanks rights issue statement. Just search for 'ex-rights' and 'record date'



Note the different record date to ex-date. Note the instructions to those who've sold between those dates to forward their rights to the purchaser etc.

[typo56] 09/2/2017 12:02

I understand record date. Do you understand that's not the ex-date?

[miti 1000] 09/2/2017 12:02

Phillis...just give up and remember to apologies tommorow morning for being wrong.

[phillis] 09/2/2017 11:59

Dont you understand "record date for the Rights Issue"

[phillis] 09/2/2017 11:58

Expected timetable of principal events9



Record Date for the Rights Issue


Close of business on 7 February 2017

Admission and commencement of dealings in Nil Paid Rights on the London Stock Exchange


8.00 a.m. on 10 February 2017

Latest time and date for acceptance and payment in full and registration of renounced Provisional Allotment Letters


11.00 a.m. on 24 February 2017

Commencement of dealing in New Ordinary Shares fully paid, New Ordinary Shares credited to CREST stock accounts


8.00 a.m. on 27 February 2017

Expected date of completion of the Acquisition


by the end of March 2017

[typo56] 09/2/2017 11:56

Phillis, that's relatively recent. Ex-divs used to be normally Wednesday with record date Friday, but a few years ago the settlement system got revised (swifter) so ex-divs made Thursday. I don't think ex-divs have to be Wednesdays/Thursdays, but it's the most convenient because it fits in with settlement times. Otherwise they'd need to be claims passed between buyers and sellers.

[typo56] 09/2/2017 11:52

Got to wonder if the corporate advisors deliberately setout to confuse retail punters and inexperienced brokers. They could perectly well have spelt out the ex date, as they have done previously. Go to EXPECTED TIMETABLE OF PRINCIPAL EVENTS



Note how ex-date is 18 Dec - i.e. the same as date nil-paid shares get admitted (not the record date), which is what you'd expect.

[esther1975] 09/2/2017 11:51

Apologies to everyone. If you own shares by close of business today then you can claim your rights

[phillis] 09/2/2017 11:49

When a share goes xd on a Thursday morning you have to have bought the shares before the Wed close
Your shareholding is reflected in the Crest register on the Friday close which is the RECORD DATE
If you are not on the register then you dont get the dividend

And in this case you are NOT entitled to the rights

Simple stuff

[ed 123] 09/2/2017 11:44

I'm with you, Typo56. I topped up at 1000p.

[typo56] 09/2/2017 11:41

egrid1, I've put my money on your broker giving you duff info re ex-rights.