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Anyone else had anything through yet?
I expect ii to have my offer/ number of shares I can purchase uploaded today, but nothing yet.
I will take the full allowance as soon as I can. I believe this company to still be massively undervalued and fully expect it to recover in the not too distant future. I don't think £3 is an unreasonable target to set initially.
Good luck every one
Well said, kenj!
kenj
https://www.lse.co.uk/ShareChat.asp?ShareTicker=INFA&share=Infrastrata-Plc&page=110
here is the chat I had at the time in INFA ...04th May 2021 1 for 6 Offer
i Didnt believe I would get the Offer ... I debated with a guy called Poleaxe...
Turned out he was right as I am suggesting now.... I did get the Offer shares
he explained as I am now doing ..and Mary is ...
we saw it happen ... same way
i wrote then
" I personally do think you are not agreeing on what "ex-entitlement" actually means ..which is fine..each to their own ideas..
I think it means the date by which you have to fulfil all the requirements for obtaining the offer
If you buy today..you will not have fulfilled all the requirements ....you wont be on the record for a start.."
turned out i was wrong ... i got the offer shares and didnt need to be on the record on their Record Day ..
Will do Poker- well into my bottle of wine for the evening so ‘sleeping easy’ pretty much guaranteed!
Happy with the purchase I made for daughter yesterday, still confident she will get her offer shares, and happy with my own holding and look forward to reaping rewards in my own ISA holdings.
Good news on contract win despite payment terms not being ideal, but better news is it’s ONLY THE START!
i imagine the whole thing will cause a bit of a stink when some peeps get their shares & others don't. I'm more interested that this starts rising well away from the placing price!
In INFA --- no...there was an "Excess Application Facility" in that Offer Placing ....isnt here
Poker, were those ones fully subscribed out of interest?
In INFA --- yes ...there was an "Excess Application Facility" in that Offer Placing ....isnt here
No, not fully subscribed as I obtained an additional allocation. Fully underwritten is not the same as fully subscribed.
Poker, were those ones fully subscribed out of interest?
kenj
When Mary and I did the same thing with Infa (now Harl) ..back in May...the same thing happened..in the same way ..
I got Offer Shares bought the day before the ex-entitlement but the day after the Record Day ... it happened !
Pokerchips,
I have read the link you posted.
There are similarities in that both company's Atlas and Petrofac use the terms Record Date and Ex-Entitlement Date, but there are also clear differences in how they explain them, eg;
Atlas:
"Ex-entitlement date for the Open Offer - Clarification
Atlas Mara Limited ("Atlas Mara" or the "Company") notifies shareholders that close of trading on 10 August is the time by which shareholders need to own shares in Atlas Mara in order to participate in the Placing and Open Offer that commences on Monday 14 August 2017. The Ex-entitlement date (i.e. the date the shares are treated as "ex" the entitlement to the Open Offer) is 11 August, and any shares bought after market opening on 11 August will be treated "ex" the entitlement to the Open Offer."
Petrofac:
"* Record Date for entitlements under the Open Offer - 6.00 p.m. on 25 October 2021
*Qualifying Shareholders - Shareholders (other than in respect of treasury shares) on the register of members of the Company at the Record Date.
* Placing and Open Offer
Under the Open Offer, Qualifying Shareholders are being given the opportunity to subscribe for Open Offer Shares pro rata to their Existing Holdings on the basis of one Open Offer Shares for every four Existing Shares held by them and registered in their name at the Record Date"
The confusion exists IMO because whoever wrote the Petrofac's RNSs does not appear to understand what these terms mean. Hence the accompanying explanations by each company are completely different. However the English language meaning is quite clear and that should prevail.
We will know all tomorrow, but I still fully expect to allocated a new share offering for the shares I sold on the 26th Oct, and I expect that Johnychainlocker, who bought on 26th Oct will not.
PS: Thanks to xtw2 for the PFC statement, I was unable to find this when I looked for it today. Not sure if I am blind or if PFC have edited the RNS.
johnychainlocker
sleep easy mate..if you bought yesterday ..you will get your Offer Entitlement..... wait... and you will see ...
October 25th - Record Date for the purposes of mailing ("Mailing Date") entitlement under the Open Offer for Certificated Holders..that is all it is for ..and ....MOST BROKERS DO NOT KNOW THAT
October 27th - Ex-Entitlement Day
October 28th - Open Offer starts ...when brokers will have the new record to inform you exactly how many offer shares you will get
Take it easy ..all you need do it wait... and you will find out
Read it on the example for yourself
https://markets.ft.com/data/announce/detail?dockey=1323-13325764-3F10R9RQPHKL9OI557N41BRCD0
I’m not calling you a liar, johnychainlocker, I’m just saying that people shouldn’t trust anonymous posters (including me) on here regarding information that is important to them, that’s all.
I was just about to point out before your latest post that the whole confusion lies in one of the paragraph Extracts from your previous post:
“Your account will be credited with 1 basic entitlement share for every 4 ordinary shares you hold as of the record date, 25 October 2021. These entitlement shares will be credited to your account upon receipt and will form your basic entitlement, which will not be subject to scaling back.”
But you beat me to it! Haha!
My whole point right from the start is that this ie the 3x RNSs from PFC posted yesterday including the Prospectus are far far far from clear re Entitlement to the Discounted Shares in the Open Offer. On the one hand, it says Entitlement is based on the Record Date of 25 October 2021 and on the other hand, it states an Ex-Entitlement Date of 27 October 2021.
Can you see why I and others remain confused and that views are polarised on this issue?
Jeez- apologies ALL (including xtw!), and especially Real.
Re my last post” - 3/4 of the way down just read in detail “Your account will be credited with 1 basic entitlement share for every 4 ordinary shares you hold as of the record date, 25 October 2021. “
?????????!!!!!!!!!!!
I am absolutely LOST for words (don’t all go hurrah at once!)
Am waiting till tomorrow, will check daughter’s account, will update and I’m leaving it at that.
Absolutely ridiculous that this is so unclear!
Paddy
the main thing is...is is SOLD OUT ...The market likes it..and what they intend to do
Any PI who doesn't take any Offer share ..well ..it already has a Placing name on it ... to be grabbed
This one is for you xtw!
Corporate action detail
Reference
9677551 - 10
Investment
PETROFAC ORD USD0.02
Holding
3332
Status
No response required
Description
Preliminary Notice-Open Offer
Notes
Further to our previous communication, we have received an update regarding the Petrofac Limited event.
Your account will be credited with the entitlement shares on or around 28 October 2021.
Please copy and paste the below FAQ link into your web browser for more information on corporate actions:
https://www.ajbell.co.uk/sites/ajbell.co.uk/files/AJB_Corporate_action_FAQs.pdf
IMPORTANT NOTE - If you have any questions or queries regarding this event, please send us a secure message and ensure you quote the following in the ?Subject? field: CORPORATE ACTION - Petrofac Limited - 9677551
Updated: 27/10/21
***
Petrofac Limited has announced details of an open offer. Your account will be credited with a number of entitlements which can be exercised at a fixed price, with no dealing charges, to receive additional shares in the company.
Your account will be credited with 1 basic entitlement share for every 4 ordinary shares you hold as of the record date, 25 October 2021. These entitlement shares will be credited to your account upon receipt and will form your basic entitlement, which will not be subject to scaling back.
Each entitlement share can be exercised at a price of GBP1.15 in order for you to receive 1 new ordinary share.
To view the announcement in full, please copy and paste the following link into your web browser:
https://www.londonstockexchange.com/news-article/PFC/petrofac-limited-proposed-fully-underwritten-us-275-million-firm-placing-and-placing-and-open-offer/15187112
Anyway that's a nice RNS, should see a little lift tomoz i would think!
far less generous than most RIs have been. IAG was 3 for2; RR 10 for3
Agreed Paddy
or most days since the SFO spike Paddy.
Still no apology, tick tock?
only a 1 for 4 entitlement not really talking any huge money here really!
anyone that bothered about it all could have bought shares at 127/8 today & they would be better off than if they had bought yesterday @140
Shorter are at 1.97 now
….ollocks xtw!- that message is absolutely for everyone on here who have been confused quite understandably, as have I, by this overly long running debate.
It is not a fabrication, it is directly from AJ Bell, and when the account is credited tomorrow I’ll accept your apology!
If I can try and link it I will, (without compromising my daughter’s account)
I do not take kindly to being called a liar!