Correction, last post should have read:- I am afraid that there was never an opportunity to SELL NPR's for 5p.
RE: Complaint query
Badgerbitter, "FyI, I bought NPRs options which appeared in my trading account rather than choosing to selling them (at 5p), which in hindsight was a bad error." I am afraid that there was never an opportunity to buy NPR's for 5p. 5p was the price of converting the NPR's to new shares, and this could only be done through your broker on 13th March. From memory the highest price that the NPR's could have been sold at was arround 0.15p.
Online broker complaint
The one complaint I have and really want the brokers sued for is that they allowed POG rights in online account by March 2 evening. The big boys had sold by then and ran off while the small PI's had to live with lapsed rights.
RE: Can someone tell me?
Oh yes, I recall reading that the banks have certain direct debit rights over POG's cash flow
Can someone tell me?
Do the senior lenders still have total control over Pogs spending? Are the senior lenders still holding the purse strings stopping the company from investing and spending cash as they please or has this changed since the Rights Issue was completed?
Kenj Thanks for taking the time to comment. Fair to say at the time i misunderstood the RI process. However I now better understand how it works. I would extend this to the trading company I use who took a lot longer to do this than you did. FyI, I bought NPRs options which appeared in my trading account rather than choosing to selling them (at 5p), which in hindsight was a bad error.
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