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I am new to sharemarket. This rights issue I don't understand. Please clarify the below. For example If you have 25 shares @340 or anything , SSPG will give 12 shares @184. Will this reduce the current price from 340 to 184 and recover to 340 in 2024? Is this correct?
This is going much higher (towards £4) for those trying to get in for the rights.
GLA
Cannot see how freetrade wiggle out of this. Perhaps call again to confirm with another operator if there is a telephone number.
or check out with FCA direct and they should advise.
https://help.************/en/articles/2282151-how-can-i-complain
Good luck.
Why won’t they? They offered the whitbread one.
Yes. I use barclays and they send you a message requiring a corporate action. It's here you decide to take up your rights, sell them or a combination of both.
Some advice please? How do I participate in the Rights Issue? Will my bank contact me with an invitation to participate?
Buying dips to gain more exposure to rights.
Seems to be the correct call at the moment.
Good luck.
DYOR
Not a recommendation.
Looks like the investors want to participate after all in the RI.
Even if it is not the bottom and the price moves down as the 7th approaches, the risk reward of even a premium of say 40-70p on the 184p was too enticing so I added a few trades today.
For me a no brainer even if it goes down, this will fly at some point.
DYOR
NOT A RECOMMENDATION
GLA
typo - 3 shares x 12/25 - been a long day :)
Technically, 3 shares would be the minimum required to to give you one full additional RI share but I doubt that many would be dealing with even as few as 25 shares.
[3 shares x 12/15 would entitle you to 1.44 shares rounded down to 1 share.]
I suggest you read the document on the company website or the RNS news and google a few terms.
4.1 What if the number of New Shares to which I am entitled is not a whole number; am I entitled to
fractions of New Shares?
Your entitlement to New Shares will be calculated at the Record Date (other than in the case of those
who bought Existing Shares after the Record Date but before the Ex-Rights Date who are able to acquire
New Shares under the Rights Issue). If the result is not a whole number, you will not receive a fraction
of a New Share and your entitlement will be rounded down to the nearest whole number. The New
Shares representing the aggregated fractions that would otherwise be allotted to Shareholders will be
issued in the market nil paid for the benefit of the Company. The New Ordinary Shares representing
aggregated fractions that would otherwise be allotted to Qualifying Shareholders will be aggregated and,
if possible, sold in the market nil paid for the benefit of the Company
Uzidoesit100
This applies to all shareholders that hold shares past the close of business on the record date.
A shareholder is entitled to participate in the rights issues, but not obliged too.
The price is 184p per share ( for every 25 shares you own on the record date, you can buy up to a maximum of 12 shares at 184p)
# Record Date for entitlements under close of business 1 April 2021
FWIW
As a holder I will participate in the rights issue and take up my entitlement. I have added a few more today to allow me to by more on the record date.
I am a long term holder and am happy risking my own money realising nothin is certain.
It is hard to time a recovery, SSPG expect full recovery by 2024.
The company just has to stay in business until then, the RI will help but there may be a further fund raising if this covid issue persists.
My view is that people as gagging to holiday and that sooner of later airports will be brimming with travellers.
2021 2022 2023 2024 or later?
The sooner the better for companies like SSPG and hopefully not too late for them.
DYOR
Hope you find this useful.
NOT A RECOMMENDATION TO FOLLOW
PS: timetable more clearly presented in the 1st RNS!
The rights issue is open to all shareholders. The timetable is laid out in the 1st of today's RNSs:
Publication and posting of combined 17 March 2021
prospectus and circular
Record Date for entitlements under close of business 1 April
the Rights Issue 2021
General Meeting 11.00 a.m. on 6 April
2021
Dealings in New Shares, nil paid, commence 8.00 a.m. on 7 April
on the London Stock Exchange 2021
Existing Shares marked ex-Rights 8.00 a.m. on 7 April
2021
Latest time and date for acceptance 11.00 a.m. on 21 April
and payment in full and registration 2021
of renounced Provisional Allotment
Letters
Dealings in the New Shares, fully paid, 8.00 a.m. on 22 April
commence on the London Stock Exchange 2021
fully paid
I'm relatively new to investing and have a small stake in SSPG: does the rights issue enable all current holders to take this up or is it only for II?
also doesn't seem clear exactly when this will happen?
I make the ex-rights price at the current price 327p to be approx 280p. Is this correct as that in theory is the price this should drop to. However when MAB (pub group) announced similar rights issue the price went up (I guess so people could grab the discounted offering.) Its a strange world one goes up the other down. I'm guessing its because the pub sector is deemed to recover quicker than the travel sector when things fully open up.
Blackrock are skilled shorters.
GLA
I assume this is bad news? hence the SP drop
I assume this is bad news? hence the SP drop?
Rights issue.
When the airports start getting passengers in volume, this will double from here.
Follow the cash!!! Blackrock major interest!! RNS GREAT!!!!
Blackrock increasing there holding , follow the money .
They were talking about a fundraise henceit tanked to 285, what happened after that?
Agreed this is a great share.