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You will see that IKO will take shares up as their 'entitlement'. If they have become 'entitled', as a result of their shareholding, then so are the rest of us - it just adds weight to the notion of a pre-emptive offer.
Yea looking forward to finding this out, be very happy to add to my holdings...
There is quite a lot to raise, and the balance that CD and R get is said to be dependent on the take-up under the open offer. Strictly, a pre-emptive offer should apply across the board - or where and under what authority do you draw the line. I can only say ( for myself ) that there is no reason to believe they can disapply preemption for some and not others. Perhaps other posters have knowledge of such circumstances.
Raleigh, what do you feel are the chances that SIG will give us the opportunity to partake in this offering instead of exclusively to institutions?
The next main news will likely be on funding.
The second tranche is described as including an open offer. It is said, perhaps unnecessarily, to incorporate a pre-emptive offer.
Open offer. An offer of new shares usually at a discount to existing shareholders on a pre-emptive basis, similar to a rights issue ( but no 'rights' to sell on ).......If any shareholder declines his minimal entitlement, the excess shares are allocated to those applying for shares in excess of their minimum entitlements. Open offers often run in tandem with other share offerings, such as a placing or rights issue. This is because issuing new shares can dilute existing investors, so an open offer, for example, can help existing shareholders maintain their stake or minimise dilution from a placing. While both open offers and rights issue entitles investors to purchase more shares, you can only sell that entitlement on to an external investor under a rights issue, and not an open offer.
And as per my RNS extracts at 1229 on 4th. June.
And the equity raising process is expected to complete by 8th. July, ( price of second tranche to existing shareholders unknown ) but will require the prior consent of shareholders.
My plan is if/when the price reaches my 100% (45p) i will sell 25% of my shares with the view to jump back in IF the price goes back to 40. Plan is to keep doing this on the way up in progressively higher stages to (all being well) increase the # of shares by trading in this manor with each of my stocks i own.
If i sell at a price that is never seen again, so be it, that 25% will be banked as profit albeit a slight feeling of disappointment due to sods law. in the past every time i buy a stock, it has always dropped below my buy price befoing going back up in the weeks following.
This is the fun and games of stocks and shares i guess - we just never know what is around the corner, and only rarely do shares ever go up in a straight line without taking a dip before the next big leg up.
I doubt it there is only 100k of share availability to 45s , not going to take much to set a new base around 50s .
Don’t set too tight stop limits in the current climate - these dropped sub 27p on Tuesday and triggered my sell. (Watched profits from 30p+ dwindle away to 0 and back up again a number of times over the last 8 weeks, so thought not this time)... Very frustrating as been following since they were 18p in April and averaged up to 23p - still made a tidy profit but kicking myself now as could have made much, much more.
Take your stops off and look out for news.
Doubt I’m going to get a re-entry opportunity now but feel there will be a couple of red days next week given the super week almost everything on my watch list has had this week.
Good luck all and well done to holders