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Thanks for the extra detail. I don’t know why my 80.6 isn’t right - I got a cash lump sum and a ‘cost’ for my shares (exchanged shares and additional purchases all lumped together). So I add the cash lump sum and the cost (deducted from what I otherwise would have received if not purchasing additional shares) and the total works out at 80.6p per nominal held.
I think we’re just using different currencies, but what’s interesting for me is the total value of the exchange excluding the additional shares.
So unless I’m mistaken, the total value of the exchange was 80.6p per nominal, which is above recent trading values but lower obviously than what I bought at. The coupons and the additional shares have made it all just about worthwhile.
Thanks J
Stevo12,
The allocation was based on the number of bonds you hold, not the number you applied for. It comes out at roughly 0.32 additional share per £1 bond.
Just working out how many additional top up shares I was allocated. I applied for 200k and was allocated 25,000 - 12.5%.
Is this consistent with others?
Yes! It’s gone through.
I’ve got the same as Jennifer, 61.6p per £1. They have taken the extra to pay for my additional shares.
If I knew they were doing it this way round instead of needing the money in my account I would have applied for more.
Oh well, it leaves a profit at the end of the day.
Thank you all for your updates on this - it’s more than I got from HL.
Tarrier,
I was charged 8.2749p for each of the additional shares. I think your 80.6p per £1 nominal is an error, I've received 61.6p per £1 in all my accounts.
Got mine in my HL account this morning, 80.6p per £1 nominal held, before deducting for options cost.
I’m still not clear on the split of new HBR shares between exchange and options. Can anyone confirm the options price? I can work out the allocation from that.
I've received cash in Eqi, 61.6p per £1 nominal. This includes a deduction for additional shares.
I have been told that it will be early next week. But no clue as to the final total outcome!
No cash this morning, still waiting...
Has anyone had a date from their broker on when this will pay out?
Yeah I expected that. Still totally unclear what’s coming from exchange and what’s from options purchase. Quite unimpressed with the comms.
The additional shares will be paid for by a deduction from the cash element.
Strange, my numbers don’t match any of yours, but I’m with HL and they seem to always be last to get the final details of corporate actions.
Anyway, I received 1.795 shares per £1 nominal, with a cost that I haven’t actually gad to pay, yet. I also applied for about 1.575 additional shares at the option price.
It’s all as clear as mud what I’ve received in terms of exchange vs additional options, even less so what cash I should be expecting.
Also I do not seem to have paid for 0.314 additional shares
Same for me but still waiting for cash element.
Wasp, I've received 1.9096 per £1 in both my account with ii and eqi. It is made up of 1.59059 per £1 creditor shares and 0.314 per £1 additional shares.
I’ve still heard nothing off HL.
My next assumption is that they have sold some of my creditor shares to pay for my additional shares.
Maybe this is why I have ended up with 1.9096 per £1?
No, but it doesn't include the payment for the top up shares either. Accrued interest 1.96% 1.96p, Top up shares 0.32 per £1 at 8.3p so deduct 2.66p, expect cash of 63.7p per £1 nominal.
Jenni
Does you 64.4p include accrued interest on retail bonds.
The rate for the creditor shares is 1.58959 shares per £1 nominal, just got the message for eqi. The extra are the top up allocation.
That's very high, it could include your additional allocation.
Thanks, I seem to have 1.9096 shares per £1 allocated.
I’m not sure if this includes my additional allocation.
FWIW my calculation based on the last information provided by PMO was that we would receive 64.4p and 1.59 shares per £1 nominal of bonds.
The top up allocation is based on your (or maybe brokers) holding in October.
Thanks Stevo.
That would be a great result on both the new share allocation and cash front.
I will be looking at my account again today no doubt every 5 mins for updates!
I am expecting cash of 60p per each £1 of nominal value of retail bonds.