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What dilution ? Everybody topped up and then topped up some more lol.
Hi Icecool even I do. It’s easy to get a rough idea of what the share price was by simply “dividing the current share price by 15” truth is it’s pretending the HUGE share dilution never took place?
Even though old money is not Apples for Apples, I still use it as useful analysis of where the company is at with a very quick glance!! Historical data doesn’t really mean anything, However it’s just a another string on the DYOR bow!! GLA
Hi Smorty whooosh Sorry straight over my head! Lol
The dilution was 5 for 9.
The consolidation was 15 to 1.
Longtimeinvestor even I recommended your post!
I’m guessing you are wanting to keep dividing the current share price by 15 and pretending that the old price then? No probs but at some point you will realise you are kidding yourself.
The whole lot is confusing that’s for sure and the only way to make sense of it all is to work together.
I think everyone is just fed up with it all here so I will back off with my questions (interrogations!) and just try to fathom it out by myself. No hard feelings.
GLA
RH it was a tongue in cheek reply, all these figures being bounded about are confusing a few,
That still leaves 147,147,525 unaccounted for, these are what the shylocks were left with, then the dilution 15-1, which left the shys,,,, with just short of 10 mill, don’t pay them their fee just give them the 10 mill shares.
RH
'' but we still need to discuss that (accurate) table I created. ''
I for one don't
Hi Rox.
Yes, i'll keep an eye on AA.
Everything else i have, are basically in hibernation!!
The macro situation of the need for a virus vaccine, is in control.
Then we have the small aspects of US Election, and the forever constant Brexit!!
My excitement is all within Eurasia and Greatland, currently. Well, they are AIM.
Morning Pian if I call it a dilution you say you haven’t been diluted! Lol only joking mate yeah I get that, no rights to sell so that wasn’t an option but same thing really. Not necessarily now but we still need to discuss that (accurate) table I created.
Every body is still saying you simply divide the current price by 15 to find the old price and listen up guys that’s ridiculous so stop doing it!
If there was no consolation how would everyone compare the new price with the old? Would they say it’s the same? Ie no difference? Because that’s what everybody is saying at the moment!!!
Rox - it wasn’t a rights issue: there were no rights to sell.
And rights issues are not inherently bad - I virtually ten-bagged following one done during the financial crash of 2008 - but like any financial tool they can be, and are sometimes, misused.
The Saga capital raise was over-complicated, partly because of an unnecessary share consolidation, but we must all be grateful for the fact that it has secured the future of the company in these extremely challenging times.
Yes 33.
Smorty with the greatest respect what you have just wrote doesn’t make sense? There is no correlation between the number of shares raised and the (absolute shocking and ridiculous) amount of money the banks charge to “arrange” these schemes/scams.
£1 is a bit low considering we are now fully funded for at least the next 6 months to weather this storm and we also have the luxury of the 100M to draw on AND we reduced short term loans with the £ raised with by the RI.
Right Issues are a scam there is no getting away from it. In fact they should be called Right Issue Participation OFFer and just shortened to RIP OFF.
Selecta knows this already but I am ball deep in the AA hoping they get taken over but if they don’t then they will need to refinance and raise money no doubt with a RI. Keep your eye on it guys because if that happens then you will be able to get in at the bottom when it’s all over like I did here.
So, we are all agreed on one thing.....
It's been a right old saga!!
That still leaves 147,147,525 unaccounted for and possibly allocated to Institutional Investors?
As per the prospectus which now equates to 9,809,835, which is equal to the 10 mill they charged for coming up with this scam, so if they want paying they need to knock these out at a £1 each, which IMO is the price they will drop to.
Hi 33 are you invested? I would say “don’t miss the boat” but there is fat chance of that since they are both stuck in port until March next year!
Hi Bat yes sorry for the confusion (my fault) it looks like they have all been allocated as follows:-
Results of Open Offer RNS
“As set out in the Prospectus published on 11 September 2020 by Saga in connection with the Capital Raising (the "Prospectus"), Sir Roger De Haan is subscribing for 348,583,026 New Shares in the Firm Placing and is also subscribing for 204,250,307 New Shares in the Placing and Open Offer, and, as a result, from Admission will hold 26.40 per cent. of the Enlarged Share Capital.”
OK so sir Roger took an additional
204,250,307 of the 351,397,832 shares that were Open Offer “Declined”.
That still leaves 147,147,525 unaccounted for and possibly allocated to Institutional Investors?
Hi Rox
Please see below extract from RNS concerning result of the open offer:
The Open Offer closed for acceptances at 11 a.m. on 30 September 2020 in accordance with its terms. The Company announces that it has received valid acceptances under the Open Offer in respect of 271,937,350 Open Offer Shares, representing 43.63 per cent. of the 623,335,182 Open Offer Shares available pursuant to the Open Offer. The remaining shares have been placed with conditional placees, a significant proportion of which comprised existing shareholders. These shares have been placed first with Sir Roger De Haan and then subsequently to other conditional placees in line with the preferential clawback arrangements as set out in the Company's announcement of 10 September 2020.
It doesn’t agree with you about 3M not being taken up. It implies that about 350M were not taken up and then placed with conditional places. Is this what you meant? Was there some news about how many Sir Roger acquired?
Morning Selecta/Bat.
Yes Bat thats what I initially thought but the numbers didn’t add up so i investigated further and found the above RNS.
The Open Offer shares numbered 623,335,182
Over 3M were not taken up so Sir Roger took just over 2M of them along with his Firm Placing.
The above RNS was the missing link to the missing shares and just wondered if anybody could shed some light on where they are?
Sorry for the rough numbers but I am not at home so haven’t got my notes in front of me.
Thank you Selecta6. As I understand all the Open offer shares that remained were to be bought by Sir Roger. However this a completely different subject to that posted in such explicit detail by Rox.
Speaking on behalf of my friend Rox. We have previous, over on AML, you know!!
@ Batfasted. I think, you've slightly mis-understood Rox's point.
The RI was a disaster at take-up, since we were all buying far cheaper on the open market.
As such, II's who backed the 12p price, got saddled with them, instead of making their usual profit.
So, plenty still floating around in the market, looking for an eventual home.
Hence, downward pressure continues on price.
Rox, was just asking how many still floating.
My post is said like a true holder of the old original IPO shares at £1.85 old money. Yes, that's right £1.85 old money, equates to C. £27.75 new money.
Struth, i am one of those holders (only modestly, though).
I'll be in profit by crymbo.
Go, Uncle Rog.
Hi Rox.
What are you talking about? These are the 140m new 15P shares issued to replace all other previously issued shares at 1P that were cancelled. This was the consolidation.
I think the only person who knows that is the seller, I am more interested in who is buying them at negotiated prices..........maybe RDH is increasing his holding :-)
GLA
RNS Number : 6256B
SAGA PLC
09 October 2020
FOR IMMEDIATE RELEASE
9 October 2020
Saga plc
“It is expected that 139,594,769 Consolidated Shares of 15 pence each will be admitted to trading and dealings will commence on the London Stock Exchange at or around 8:00 a.m. on 13 October 2020.”
What do you reckon then guys? Is there any way of finding how many of these are still around?