The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Hi ,I am with ii.co.U.K. and haven’t heard anything yet . One of the main reasons I invested here a few years ago was because of the shareholders with very deep pockets ( the ones that have underwritten this deal .) Who knows Boris might give a date for opening up soon . My bet is schools and golf/ tennis in March , shops in April and June for restaurants and pubs .
Thank you Pmoran1969
Neverdone - nothing from Halifax yet for me. Nbrown did a similar placing recently and I held them in my sipp with ajbel, and my isa with Halifax. Ajbell sent me a corporate Acton communication similar to the one Davesgold refers to in his post below that simply confirmed an offer was Happening and they would communicate further when details emerge whereas Halifax only sent me something when the official invite was sent out.
I am assuming that there will be an rns early this week given part of the reason that the offer is being done in the way it is is because it’s quicker than alternative options and they need the money quickly. Once the offer is official that’s when I expect We will hear from Halifax by way of a corporate action.
Hope that helps. Cheers
Not received my offer yet, has anybody else that uses Halifax received it?
Over the years I have ignored these offers / rights issues, you will probably be no better or worse off.
You own a minute part of the business anyway so dilution makes no difference.
Only thing to be careful of is if you have a stop loss in place. Price should drop at least 40% with dilution all things considered
Would make sense .
Be intresting to see what the analyst make if target price with dilution.
Plus Boris is updating on.lockdown Monday so could be intresting
Could maybe be an RNS today after close and trading Monday ex offer?
Thanks for the replies . The offer came via my AJBell account with a price of 2.10 and advised there would be further details in due course . I am likely to take up the offer if the price benefits me relative to the decrease in the current value of shares due to more being issued .
Yup very true
I agree
Callum, you don't have to take up your option. If you don't shares will go to the underwriters but remember your existing holding will be diluted.
Davesgold have you recieved details of their intention to undertake the open offer or have you received the details of your allocation of shares and closing date etc?
Davesgold- have you received notification of their intention to undertake an open offer or have you recei
Just to clarify you don't have to take up your allowance .you can allow it to lapse
Daves, if you don't cut and run now then really you are forced into taking up your allowance. All depends on your timeframe. Personally stuck these in my SIPP at £1.60 and have bought some more the other day to increase my allowance. Happy to let these sit and wait for the divi to come back many years down the road.
I am new to this game and I have just received notification of M&Bs open offer to buy more shares . Their action presumably will dilute the value of my current holding but will I gain by buying more shares at the £2.10 option price ? Advice appreciated .
Hmm depends how you top up
You could sell some shares now and then buy up the entitlements on those left essentially averaging down .
If you need cash to get entitlements .
GLA
Apologies... I read this as a placing rather than an open offer. My bad ! So we can all join the queue to top up.
Towncaledmalice, any cash call could be looked upon by shareholders as a stich up because if you don’t have the necessary funds to take part your ownership of the company is diluted.
However if you actually own shares in mab prior to the date on which they become ‘ex entitlement’, which according to the rns issued yesterday will be whenever the official announcement of the offer is made, then you will be entitled to purchase your allocation of shares at £2.10.
There’s no suggestion that P.I’s are in any way being prevented from taking part in this, if anything some existing shareholders might feel that they are given no choice but to find the funds in order to take part.
Yes they get shares realtive to there holding .
But so do Other shareholders if they take offer up .
Ft recommend take rights then sell
https://www.ft.com/content/c8fad666-84c7-4f34-a111-e29239a16aff
Depends if you trust FT
As always DYOr
Worthwhile looking up what an open offer is on Google.
I think the point is that the 3 major shareholders are issuing the shares to themselves at 210 by way of a placing.... no crumbs for the other shareholders.
Surprised they didnt give themselves the shares for a quid when they were at it
An offer of new shares usually at a discount to existing shareholders on a pre-emptive basis, similar to a rights issue. If any shareholder declines his minimal entitlement, the excess shares are allocated to those applying for shares in excess of their minimum entitlements. ...
An open offer
If you have share pre ex enrolment date you can get them to buy at 2.10p
I dont understand the fund raising - as its a placing rather than a rights issue, doesn't that mean the PIs have no chance of getting hold of some of the shares at 210 p ?
confused -
Pmoran
I think its more likely that investors buying today are buying in the expectation that the consortium will be taking MAB private - so this is a takeover situation and as they already own 55% and have committed to the Open Offer shares then it is a very safe bet that they will succeed - if that is their aim.