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Is the open offer worth taking up ?
SP-wise is appealing - honestly hard to tell which way this Company. is heading..
Thoughts please...
Paulev it means as you have 7000 shares you are entitled to purchase your alicated amount of 2590 at a discount to today's price. This means that you would have 9590 shares in the company if you decided to purchase and you'll have bought them cheaper than market value. Hopefully this helps? If the price stays above 5p then you win if not then you don't.
Yes you get to keep your 7000 shares and
can buy the others if you want @ 5p
Hi all. I’m a newbie to this and looking for help.... I have a small holding of 7000 shares. I’ve received an open offer but I don’t understand what it means.
It says:
-Issue: Open Offer
-Ratio: 37 new shares for 100 shares held
-Subscription price: GBp 5
Does this mean that if I accept the offer, I will lose the 7000 shares and get 2590 new shares @5p, or is it offering for me to buy a max of 37 new shares per 100 held at 5p in the new company and still keep my 7000 in stobart?
As I mentioned, I’m a complete newbie and any explanation would be greatly appreciated.
Thanks
Agree with truth. More upside for you that way
Thanks for reply, i am in at 15k @ 10.5.
I was thinking take the offer, sell current 15k when they get close to 10.5, then hopefully sell the 5500 from offer at enough profit to cover any loss made on original 15k.
Question is, is it worth buying the additional 5,500 shares?
This just appeared on my Interactive trading account, new share issue?
EDDIE STOBART LOGISTICS PLC NEW ORD GBP0.01 (SUB SHS CLAIMS PURPS)
£0.00
-
£0.00
5,550
£0.00
£0.00
£0.00
0.00%
Yes, for sure. The name change is just for this listed investment company that holds 49% of Eddie Stobart as its main investment.
On a brighter note they forecast EBITA of over £33M for y/e November 2020.
It's an operating company, I know the son - definitely operating, do a load of flatbed stuff
Bubbleblower sorry but I disagree. The difference with IAG and RR is there was time for people to buy in before their rights issues closed, so it generated buzz. Buzz is something that ESL have killed off at every opportunity. The stock market is a simple game of who can shout the loudest.
"But as a major investor/market mover youre gonna look at it as a 5p stock, because thats what its about to be flogged for. So no market movers will touch it, so how can the price do anything other than tank in the medium term."
I am no expert, only started this year, but having been in both IAG and RR the rights issue did cause a dip, but this did not last long and if you purchased the right issue as of now you would be doing ok.
I know ESL in not in the same league, but RR and IAG forums were also full such negative posts.
I am in stocks as know this year is a once in a life event, not even the financial crash caused such disruption in the market, which believe will and is recovering quickly.
Totally understand. But as a major investor/market mover youre gonna look at it as a 5p stock, because thats what its about to be flogged for. So no market movers will touch it, so how can the price do anything other than tank in the medium term. I'd imagine we're gonna see the exact opposite of what just happened to the Rolls Royce SP
No offence to anyone but im with TF on this. Very little short or medium term good news here. Closed eligibility for the placing basically as soon as it was announced so no possibility of buys lifting the price short term, and who's gonna buy this stock now when its only worth 5p. Cue a wave of red as everyone pulls out as soon as they've qualified for the placing. Which will drag the price down to 4 - 5p anyways.
I got into these a bit high, 15k @ 10.5p not a fortune, so not panicking.
Question is, assuming the naysayers are wrong, what is potential for SP in 12 months?
Wasn't there supposed to be a restructure of the loan as well with shareholder participation, or is that expected later?
And, for what it's worth, I think TF won his bet.
What a bargain price for all of us that hold!
Wow - nice to see ESL flying. I was in this shares for ages and hope Eddie comes back to its former glory.
Truthfactory, how is going matey. Hope all is well. Are they going to sort it all out here? hope so as its a business that deserves a bit of luck and has done a great job for UK esp at the start of the pandemic. TF, seen anything good lately? GLA
also gonna depend on how MM view the stock. Don't think todays RNS will change the markets poor sentiment on the stock, especially as there's no time left to buy into the rights issue
I guess it all depends what you think our 49% interest in ESL is worth...
At the IPO it was around £60M
At todays SP around £35M
Take into account the £15M cash they expect from the placing & offer and the new volume of shares (702b) along with the prospects for ESL & logistics in general..
Im expecting a big sell off and a plunging share price considering that registration for purchasing new shares has now ended. no incentive for anyone to buy.
According to the RNS today, presumably moved to :-
"Shareholder approval is being sought for the Resolutions at the General Meeting which is being convened for 11.00 a.m. on 29 December 2020 at the offices of King & Spalding, 125 Old Broad Street, London EC2N 1AR."
Does anyone know what will happen with general meeting today
Must admit I was thinking that!