Rsa Insurance Group Ld Share Discussion Threads

[huttonr] 11/4/2014 15:24

I really don't see why companies do this sort of thing except perhaps that they think there is some prejudice against share prices under a pound. Otherwise the whole exercise simply costs money for no real purpose.

[skinny] 11/4/2014 12:21

Share Consolidation

RSA Insurance Group Plc has announced the terms of a Consolidation. Shareholders as at close of business on 9th May 2014 will receive 1 new Share in place of every 5 Shares held, subject to Shareholder approval at the Annual General Meeting to be held on 9th May 2014. New Shares following the Consolidation are expected to be credited to portfolios on 12th May 2014.

[loganair] 10/4/2014 14:21

The price of the shares where ajusted when it went Ex-rights the same way when a share goes Ex-dividend etc.

[wllmherk] 10/4/2014 13:46

me2 opto. Nice to see my average reduced to just over a £1.

I do think these are a good long term hold now they have shored up the finances. A bit of streamlining, cost cutting, increased premiums and some benign weather in the markets they operate in and the share price should slowly head north.


wllm

[optomistic] 10/4/2014 12:46

My rights stock is now added to my previous holding all at 94.7p with TDW

[revell40] 10/4/2014 09:17

Will this come down

[solarno lopez] 10/4/2014 08:04

of course it is seeing as the price will be adjusted for the rights

[janekane] 10/4/2014 08:00

Best short opportunity of 2014

Fill yer boots today

[skinny] 10/4/2014 07:08

RSA Insurance Group plc (the "Company" or "RSA") today announces that the 3 for 8 Rights Issue of 1,380,976,863 New Ordinary Shares at 56 pence per New Ordinary Share announced on 25 March 2014 closed for acceptances at 11:00 a.m. (London time) on 9 April 2014. The Company received valid acceptances in respect of 1,321,235,690 New Ordinary Shares, representing approximately 95.67 per cent. of the total number of New Ordinary Shares to be issued pursuant to the fully underwritten Rights Issue.

[fludde] 09/4/2014 12:43

Yes I am showing Bid of 85. My best performing share! ;o)

[optomistic] 09/4/2014 10:20

RSAF now Bid 85 Offer 100

[optomistic] 09/4/2014 08:36

My RSA nil paid now RSAF are showing in my TDW account @ 30p
Anyone got similar with TDW or other brokers?
ps I did take up and pay for the rights.

TDW Quoting Bid 30 Offer 100 ?

[m_k_hubbert] 05/4/2014 18:03

Online broker sent a secure message to my dealing account on 27/03 backed up by an email alerting me to the existance of this (Corporate Action) message; on this basis I had 6-1/2 working days to make an election re RSA rights and to transfer the necessary funds if I decided to take up (which I did). The broker has to consolidate the rights taken up / declined by their various clients and advise the issuing registrars (including transferring the funds on behalf of those taking up rights) by the deadline of 09/04 hence the earlier deadline imposed by most brokers. As far as the 09/04 deadline is concerned it's probably only relevant for certificated holders who have to complete a rights issue election form and return it with a cheque by post (if taking up rights). Obviously a 2-way postal process is slower than those handling both election and funding online hence longer deadline for paper based transactions.

One suggestion which might assist for future investments where a relatively quick decision is required is to create a secondary email account for communications from online brokers etc.; in this way their notifications will 'stand out' from the primary mailbox which often, in my experience, accumulates a lot of 'junk' in a relatively short time. The email client I use on tablet and smartphone has the option to 'colour code' mail received into a given email account thus emails relating directly to investments are readily identified.

[skinny] 05/4/2014 06:51

I posted the salient points on March 27th - post 8140 and echo Deanforester's post above.

[deanforester] 04/4/2014 22:42

You obviously all have different stockbrokers to mine or are able to react to corporate actions at a moment's notice if you all think that 1 day is sufficient time to deal with a Corporate Action.

It doesn't need more than an hour to look through the prospectus, having downloaded it from the company web site. From the RNS on 25th March, see it says:

25 March 2014

Further to the announcement by RSA Insurance Group plc (the "Company") earlier this morning relating to the Rights Issue, the Company announces that the Prospectus in respect of the proposed Rights Issue was approved today by the UK Listing Authority (the "UKLA") and has been published on the Company's website at www.rsagroup.com. The Prospectus and Provisional Allotment Letters will be posted to shareholders today.

So you had the opportunity to read the prospectus 6 days before your broker E-mailed you.

It may be beneficial to cultivate the habit of checking the RNS postings made by your shares each day, or else setting up alerts for them.

[diku] 04/4/2014 21:57

Think the rights issue deadline has been extended...stand to be corrected...

[diku] 04/4/2014 19:28

Just like I said it.... the ex rights fall that didn't happen...

[m_k_hubbert] 04/4/2014 19:08

Bakunin, in many cases it's no longer necessary to rely on the post for rights issues. I handle a relative's investments and received a 'Corporate Action Notice' by email from her online broker re RSA. The default option was to allow the rights to lapse and an election had to be made by April 04 (today) if the investor wanted to take up all (or some) of the rights. I simply changed her online option to 'take up rights' and had her fund the dealing account via debit card to cover the cost. Her dealing balance has been reduced by the cost of the rights as of today.
I happened to be at home when the RI decision was required but if I'd been away I could easily have made the election using smartphone or tablet.

[deanforester] 04/4/2014 18:22

If rights are not taken up and nobody is buying these rights, arrangements must have been made to offload the new shares at a placing price to various institutions. Easy to guess that this placing price will be at a discount to the actual share price on the day that the rights process ends.

What happens is that the broker who underwrote the issue makes all the nil-paid rights, which were not taken up, into fully paid shares and then sells them in the market. The proceeds, less the cost of making them fully paid, and also less some small fees, are then distributed to all those who did not take up their rights. Payments of less than £5 will not be made but retained by the company.

It's all in the prospectus for the rights issue, which you can download from the RSA web site. I have a feeling it is on page 86, but I could be wrong.

[wllmherk] 04/4/2014 16:43

Im not sure why you think your stockbroker has made it difficult for you to participate in the rights issue, given that they, RSA, announced in February that there would be a rights issue and the details would be confirmed in March, which is what happened ?

wllm