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well its only my interpritation of the situation. This is a long term play as was Amara, the only difference now is that Perseus have raise capital which along with the income from their exsisting mines means that they could have sufficent funds to bring the Amara mine into production, and if all Amara's numbers stack up then the goose will lay the golden egg.
Been thinking about what you said. I'm only going to exercise the warrants when I want to sell the resulting shares and my existing shares. The exchange rate has worsened however, does it matter, think it's in our favour? It will cost me more to exercise @ AUD 0.44 but the proceeds of selling all my shares currently @ AUD0.61 will give me more pounds in the return exchange. Effectively we've got Aussie money now with our Perseus shares. Think this is sensible thinking but what I don't know is what the current near term prospects are for Perseus, anyone?
well excercising your warrants at this time with the rate of exchange will be a costly excersise.
one has Perseus shares and Warrants. Think it's time I considered exercising @AUD0.44 and then Selling all the shares. Pretty sure I'd be taking a moderate 'hit' but value has increased since becoming Perseus. With Perseus's recent fund raise of AUD102m @ AUD0.5 they presumably have strengthened their balance sheet. Anyone following the shares that thinks it's worth holding another few months/year at this moment in time? Gold has certainly risen over the last months.
H&L show the share value in my account but 0 for warrant value, that is because the warrants as I understand it are not tradeable they have been issued in the shareholders name and only they can excercise them. The strange thing is that for whatever reason H&L quote the value of the holding in Canadian.$. which does not make any sense to me, bearing in mind that Perseus shares are an AUS. company, and the Warrants can only be excercised and paid for in AUS.$
Siman, it sounds as though you are in the same position as I am with TD Waterhouse. If you want to sell the shares you will have to pay a registrars fee ($130Aus I think) to get them registered. This will take a few weeks. I'm just holding on to mine for the long term and hopefully if PRU get listed on to the LSE, then we can avoid the registrar's fee.
Did you figure out what HSBC done? In my account the pursesus shares are there, but listed with no value.
another phone call today from H&L offering the opportunity to excercise my warrants and shelter the resultant shares within my ISA, questions did not result in me being any wiser, as surely at this point in time it is past the HMRC time limit for holding the warrants under the ISA umberella.
johnson36 all the information you need is on the Perseus website.
No money I'm afraid, but your did receive perseus shares plus perseus warrants with a 3 year life enabling you to excercise your warrants for fully paid up shares at a cost of 44 Aus. cents per share.
Sorry to ask but I'm unable to log on to my share account from a tablet at the moment. What did we get in pence per amara share ? Will my HSBC account have sold my shares as they are not listed on UK market?
surely this rights issue only being available to Aus. and Nz. shareholders is discriminating against, in the main against Ex- Amara shareholders?
Hi. The retail 1 in 10 equity entitlement offer is for persons shareholders resident in Australia and NZ only. See below from yahoo finance website: Retail Entitlement Offer Eligible retail shareholders with retail addresses in Australia and New Zealand will be invited to participate in the Retail Entitlement Offer at the same price as the Placement and Institutional Entitlement Offer. The Retail Entitlement Offer will open on June 27, 2016 and close at 5:00pm (AEST) on 15 July 2016. Applications will not be accepted for additional New Shares in excess of an eligible retail shareholders' entitlement. Further information will be sent to Eligible Retail Shareholders in a booklet (Retail Offer Booklet) expected to be lodged with ASX and despatched on or around June 27, 2016. The Retail Offer Booklet and the accompanying personalised entitlement and acceptance form (Application Form) will contain instructions on how to apply. Application Forms and payments are due by no later than 5:00pm (AEST) on July 15, 2016. In the event not all Retail Entitlements are taken up, Perseus reserves the right to place any retail shortfall securities to select institutions within 3 months following completion of the Equity Raising.
Hi tomamara, sorry for the delay, I have tried a dummy run online with H&L trying to sell Perseus shares and comes up not available online. I'm puzzled as I knew nothing about the 1:10 rights issue, I would have thought that H&L would have notified me, that said I'm coming to the coclusion that perhaps it is time I considered parting company. I purchased Amara shares, for my Great Gandson held within his ISA allowance, and the correspondence to his online account reference the warrants saga was totally different to the rest of the familys correspondence.
thanks rfarfa, I remember the e-mail she sent. I think she said that a deal had been made whereby an Australian broker would sell the shares on behalf of TD clients. The reason I am raising the qustion now is that I would like to take up the 1:10 rights issue but due to tye fact that my perseus shares are not in the correct format/currency in my TD account it may cause problems. I spoke with them yesterday but they are unsure if I can take up the rights issue. I think that if the shares were set up ok then things would be clearer. Rights issue offer closes on 15th July. I really want to know if other brokers set up their clients Perseus shares correctly without charging their clients anything. Has anyone sold or even just tried a dummy run at selling their Persus shares?
There's a note you can click on on the Perseus site particularly for info for HL account holders, etc.(Top right on Home Page). I'm with Beaufort and they've indicated there will be no probs for me. I've got Perseus shares in my ISA and warrants in my trading account. No massive sp movement in Oz but steady and well above the warrant price - so 'in the money'.
tomamara Unsure as I'm in for the long haul, however the T D Waterhouse question has been raised on here, and Katherine Sutton indicated a work arround/ solution to the problem, a search here should find the answer. Engaging brain I think she sent me an email covering this subject. I'II post it. If I or my Grandson have not deleted it.
tomamara Unsure as I'm in for the long haul, however the T D Waterhouse question has been raised on here, and Katherine Sutton indicated a work arround/ solution to the problem, a search here should find the answer. Engaging brain I think she sent me an email covering this subject. I'II post it. If I or my Grandson have not deleted it.
You guys that are with H&L, can you trade your Perseus shares ok on the ASX? Did it cost you anything to have your shares transferred to the ASX. TD Waterhouse say that there is a £78 charge from the registrar in order to get my Perseus shares correctly in my account.
alan80, unless things have changed my understanding is that you have 3 years from the takeover date to excersise your warrants, and H&L indicated it takes time to process so not to leave it until the sell by date/last minute. And reference playing games I agree as H&L were offering the opportunity to do so after the Noon 27th deadline. As said it was a very strange 20 minute telephone conversation, leaving me with the impression, what are they worried about? Am i asking questions that are raising concern. perhaps the question needs to be addressed to HMRC.
Perseus confirmed that the warrants can be exercised at any time. So there is no set timetable. Someone somewhere is playing games.
alan80, did you get a response from Perseus, its just that today I received a phone call from H&L, full of apologies, and offering me the opertunity to take option 1, enabling me to excersise my Warrants and hold the resultant shares within the ISA wrapper. I did not fully understand all that was said, but get the distinct impression after mentioning that it is against HMIC rules, they were giving me verbal crap.
alan80, did you get a response from Perseus, its just that today I received a phone call from H&L, full of apologies, and offering me the opertunity to take option 1, enabling me to excersise my Warrants and hold the resultant shares within the ISA wrapper. I did not fully understand all that was said, but get the distinct impression after mentioning that it is against HMIC rules, they were giving me verbal crap.
Rfarfa, it might be that in your case it is a technical matter related to ISA's. I don't know. Not good though the lack of response. Reading on Hot Copper forum that some posters think the share price is being manipulated at the moment by big institutions. No surprise there!
Thurs day sent another email from my online H&L account asking a further question and copying my original question still no answer, alan80 are we asking questions that they do not want to answer for some reason, it makes one wonder. As does why Kath Sutton has parted company with Perseus?