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DaveT1, you need to hold at close today to qualify for the entitlement. You'll qualify, even if you buy in the closing auction tonight.
Anyone who held on the record date but sells before the ex-date needs to forward any entitlement to the buyer (if you have a nominee account this is invisible to you as your broker handles these sort of complications).
You have to hold the shares to take up the entitlement! And you can still buy today and receive that entitlement, which Iām assuming is why the SP is rising today and hopefully more so by end of play...
The Open Offer Shares will be made available to Qualifying Shareholders on the share register at the Record Date.
Record Date for entitlements under the Open Offer 5.00 p.m. on 12 May 2021
So does this mean if you held yesterday and sell today you still get the open offer entitlement?
And does this next statement mean you can buy today and also receive the open offer entitlement?
Ex-Entitlement Date for the Open Offer 8.00 a.m. on 14 May 2021
Proleaxe - apologies you are correct. The ex date it the meanigful one.
85p is a good price IMO. I was one of those who thought more likely around 60p. The rise in recent days suggests demand was leaking.
Forget the record date, it's the ex date that matters. They don't go ex-entitlement until tomorrow meaning shares bought today will still qualify for the open offer. I dare say some will disagree. Sobeit, I can't be arsed to educate on this anymore!
If before there were 162M shares outstandig, and the now they offer 241 million with 85 pence a share, then the shares outstandig would be 162+ 241M/0,85= 445 M shares outstanding ? This can't be right...?
https://www.londonstockexchange.com/news-article/KIE/proposed-c-ps241-million-capital-raise/14974859
RNS this morning. The open offer will be 7 for 8 held on the record date. 17.00 on the 12th May. I may need to look down the sofa for some cash.
Hoopoe where are you seeing it being announced at 85p?
I thought 98p but it now announced as 85p. So I was wrong but better than the 60 p some quoted. Today will be interesting.
So Hoopee, Am I'm i reading it right that you think the placement might be at 60p, because of the challanges, possibly, that the construction industry as a whole are currently having to deal with?
I suppose that I hope people are aware of whats going on in the world. The worry is that with the current supply issues it will lead to inflation and then interest rate rises. Most main contractors will have tried to pass on the price fluctuation risk to their supply chain, as well as the delay risk. But that never really works. The consequential delay of one element being late, with still be their issue, whatever their commercial team say.
The 98P i stated was a 'gut feel' guess, and was meant to illustrate that I believed it would be a premium to the share price at the time. Not the 60p some were quoting. Its looking more likely today than it was a couple of days after I said it mind.
All the best.
Some people are, not everyone does their homework, going back to one of your earlier posts, are you thinking, obviously hoping of placement of 98p, to be realistic, do you think it is already been set, or will be in the next few weeks, surely will have to be soon, to give people time to absorb
Steve. Exactly! It's been in the news for sometime. Do you really believe we are all so ill-informed that you need to tell us.
Read the news, just making an observation, all construction under the cosh,
It's good to see that there is no short supply of posts de-ramping Kier Steve is there?
How would you explain the share price doubling in value since you started. I hope that you are not trading this - you would have no money to buy any glass from Turkey anyway, let alone the sand that makes it!
Hopefully the relevant contracts have indicies uplifts that will reflect this increase in cost.
Exactly right time to offload KL, obviously deal not fully over the line, but could still impact remaining parts of the business. It will and is going to affect all construction, glass is the next problem apparently, noises of issues of supply of product, which i assume is the raw product (sand) coming from Turkey
Which I suppose means that offloading Kier Living came at the right time Steve
For those that are curious: https://www.constructionnews.co.uk/news/uk-material-shortages-cement-and-aggregates-added-to-the-list-08-04-2021/
here's a link regarding what Steve is referring to...
Important quote from that article:
"Paul Hooper, chief executive of drainage and building envelopes company Alumasc, said in February that increasing raw materials prices could increase contractor costs by between 4 and 5 per cent. He added that the inflation could be short-lived as the pandemic begins to slow down and raw material availability increases."
DYOR
As i reported on 26th April, material shortages are really beginning to bite, what impact it will have will play out, HS 2 and the amount of housing building is sucking the country dry and going to cause massive price increases