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that calc was done assuming todays RDSB price of 1440p, obvs that may change
OK, I have roughly £1000 worth of shares I bought at 1020p a month or so ago, giving me 103 BG shares. Im confused as to what I will get from this deal give I voted for the shares and cash offer? My understanding is 0.454 RDSB shares and £3.83 per BG share (although the bumph I read in my offer said per 0.10p BG share?) if its per 1 BG share I would get 47 RDSB shares and £394 - that totals £1068. Is that correct?.
Sure you all know by now but subject to us BG shareholders agreeing the deal is done, Shell shareholders having agreed today by 80%.
Ex-dividend date RDS A and RDS B shares; February 18, 2016; Record date February 19, 2016. Merge date probably Feb 15th.
My apologies for the double posting ... and for what comes ascross as a belligerent tone -- it wasn't intended to be such and shows a lack of finesse on my part. We're agreed that it's a matching process between those who want cash and those who want shares ... but a stratight one-for-one swap would give folk the cash folk 0.4454 of a share for £3.83 which would be a really rather good deal. So there's a strike price adjusment built into the offer and the way that's calculated is given on pages 44-45 of the scheme document. I can't work all the details out but it looks to me as though it's based on the closing price on the effective date. If I've got it right it should be as though the cash/shares were swapped on the day itself. Hope that helps to make things clearer or at least helps folk find where the real information is! Mike
There is a magic formula ... its on pages 44-45 of the scheme document ... and be warned it's both complicated and dependant on the share price at some point in the future. In essence it's a two stage process ... first there's a matching between those electing for extra cash or extra shares (and there may be a scaling back that occurs at this point). Then the strike price of the extra shares and their cash value is determined in accordance with the the scheme document. Nothing is left to chance, to interpretation or assumption ... it's all there ... it has to be if you think about it. As I say it's bed time reading / study for anyone that is thinking of that option. Me, personally, I'm going for the default ... although if anyone works through the scheme document and understands it fully let me know as I'd be interested in evaluating the all cash, all share options. Mike
There is a magic formula ... its on pages 44-45 of the scheme document ... and be warned it's both complicated and dependant on the share price at some point in the future. In essence it's a two stage process ... first there's a matching between those electing for extra cash or extra shares (and there may be a scaling back that occurs at this point). Then the strike price of the extra shares and their cash value is determined in accordance with the the scheme document. Nothing is left to chance, to interpretation or assumption ... it's all there ... it has to be if you think about it. As I say it's bed time reading / study for anyone that is thinking of that option. Me, personally, I'm going for the default ... although if anyone works through the scheme document and understands it fully let me know as I'd be interested in evaluating the all cash, all share options. Mike
There is no magic formula, it is entirely dependant on the number of people who choose to receive extra shares or extra cash as to what will be on offer. So until everyone has made their election there is no way of knowing if there will be any extra for anyone. I am more than happy to take some cash from my investment so will accept the deal as it stands, therefore there will be no extra cash or shares for anyone from my election. TB.
As long as you have the shares registered in your name, request the form of Election, and return it by 4.30pm on 12th Feb you will be entitled to the offer. If you own 1,000 BG shares then you would receive 1,000 x 0.4454 = 445 Shell B shares, unless you choose to either receive Shell A shares or opt for the mix'n'match facility. In which case the number of shares you receive will depend on the number of extra shares or cash available. ATB.
How many extra shares will those who opt for that get (assuming enough people opt for all cash)? the quick answer is that it will depend on some magic formula ... and I don't know what that is. The long answer is that this must be detailed in the full offer document so its bedtime reading for you I'm afraid. Mike
Hi all, Im thinking to buy bg shares tomorrow. For example if I bought 1000 shares at 9.00 Will I have option for the 3.83 cash plus 0.44 shell rdsb shares ? Or has there been a cut of point all ready ? For 1000 bg shares how many shell shares would I get ? If the deal did not go a head bg shares would probably drop a lot Any info would be great Many thanks
According to the Shareholder Guide of 22/12/15 the suspension of dealings in BG shares is expected at 6.00pm on 12/2/16, with the latest date for settlement of Consideration being 29/2/16. ATB.
I believe the price is between 1465 but trying to find the answer myself. Another thumbs up for iWeb who allowing corporate actions to be selected online.
There are so many RNS's here that the one with key dates in is buried away. Can someone please remind me when this share gets suspended and the switchover happens.. and when we as holders get our cash / new shares.. My memory tells me mid feb?
Good morning, I know that it's a matter of internal swapping, but how many extra shares will those who opt for that get (assuming enough people opt for all cash)? Best regards
iWeb, professional as always, give you the full range of Options (Including the type A/B ones). My understanding of the extra cash/extra shares question is that shares *will not* be bought/sold on the day to satisfy demand. Rather its a purely internal reallocation of shares/cash amongst those choosing those options. IE if you want all cash it depends on someone else wanting extra shares (your shares) and giving up their cash. The capital gains situation is complicated ... within an ISA you're home dry of course ... outside its a mess. Try the HMRC site for the gory details (https://www.gov.uk/guidance/capital-gains-tax-share-reorganisation-takeover-or-merger). It's not correct to say that choosing the shares only option avoids the CGT. It doesn't, it just defers or delays it until you sell your RDSB shares later. It depends on how much you paid for your BG shares whether you are into a technical CGT gain or loss -- for me I'll be able to declare a small CGT loss and offset that against other gains. Mike
That's disgraceful. Is there a blog site we can out this outfit. Its not IDealing, its NoDealing. Ps I have gone for cash but expect this to be pared back, I have enough RSDA AND RSDB as it is.
This is exactly what I thought! Other providers have given me (like many others) the option to choose - they repeatedly stated they do not have the facility for this and after I made a formal complaint they have terminated my agreement and I have five days to move to another provider otherwise they will sell my wife and I entire portfolio! To say I am fuming is an understatement.
Is that even legal? Are they not your shares, are you not the one who decides what corporate actions you want undertaken on your behalf?
Just a heads up to those with iDealing - they will NOT allow you to accept all Shell B Shares. They will only allow Shell B and 383p option!!
Just a heads up to those with iDealing - they will NOT allow you to accept all Shell B Shares. They will only allow Shell B and 383p option!!
If you go for all shares, is the number of "extra shares" decided as cash you give up divided by share price on the day?
Once the deal is done Shell can get after influencing / advising on a variety of matters that may assist Opec and Non Opec counties reduce Prod.......5-10 % would do it, hopefully Bob at BP and the Exxon team will also be there at the table to assist........internal politics aside ( if that's ever poss with oil ) plus a weakening global outlook, will make all parties incl. Russia, Iraq, Iraq, Ven and U.S. get things together....before it gets totally beyond their control I.e. 10$ Bbl. In meantime the mid cap oilies look as though banks are tightening the stings so must be further consolidation for them to durvive.....33cents on Dollar for these assets may be as good as it gets........who knows !
ive went for all b shares, if i took part cash i would be liable for capital gains tax with the cash hope ive made the right move
I just got a notification four choices ,I don't want cash and I don't want a shares .so how do they calculate how many b shares I would get do they just convert the £3.83 into shares at a set price advice appreciated.