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why would they change their name though. what's it all mean? is there something else going on that we dont know about?
springs to mind....or have I misunderstood the whole thing?
of course it means that they will be issuing more shares to raise money and the normal shareholder will not be allowed to have a sniff of it???
As far as I can make out, it's still confusing lol...
A company can, however, disapply the pre-emption of the CA either in relation to a specified allotment or in relation to allotments generally. Disapplication of pre-emption rights in relation to a specified allotment is brought about by special resolution of the shareholders of the company. However, that resolution cannot be proposed unless it is recommended by the directors who have to set out their reasons for making the recommendation, the amount of payment for the shares being allotted and the directors' justification of that amount. As a result of these cumbersome requirements, it is unusual for a company to disapply the pre-emption rights in relation to specified allotments. Where the directors are given general authority to allot shares, the company can disapply the provisions of the CA in relation to allotments made under that authority. Any such disapplication must be contained in the articles of association of the company or be effected by way of a special resolution passed by its members.
The Companies Act 1985 (the 'CA') provides that a company proposing to allot equity security may not allot them for cash to any person unless it has previously offered them on the same or more favourable terms to the holders of relevant shares as far as is practical regarding their respective holdings. These are the pre-emption rights enjoyed by the existing holders of relevant shares. The pre-emption right is only triggered off by a proposed allotment of equity security. The term equity security includes both relevant shares (excluding subscriber shares and bonus shares) and also rights to subscribe for or to convert securities into relevant shares. The persons who benefit from the pre-emption rights conferred by the CA are the holders of relevant shares.
:)
be getting to raise some money? is that it I wonder?
What the following means? "to dis-apply statutory pre-emption rights"...
http://www.londonstockexchange.com/LSECWS/IFSPages/MarketNewsPopup.aspx?id=2177708&source=RNS
A nice little rise today but was expecting more on the back of the huge buys yesterday. Somethings gonna happen soon though. You may not have to wait another year...
2 close to a million each plus another tiddly one in comparison at the end of the day...
there was a slight dip yesterday, I wonder.... http://www.londonstockexchange.com/LSECWS/IFSPages/MarketNewsPopup.aspx?id=2173468&source=RNS
http://www.londonstockexchange.com/LSECWS/IFSPages/MarketNewsPopup.aspx?id=2173190&source=RNS
anyone see the dip to 3.75 earlier this afternoon...It went back up after about an hour or so and I can't see any reason for it...Its not like there has been much activity today...
have anything good to say about this one in light of the recent news?
Guys, I noticed someone else had quoted Warren Buffet on another post on the iii BB. The more I read it, the more sense it makes. The more sense it makes, the more relaxed I feel about the companies I am investing in. The quote was "Lethargy, bordering on sloth should remain the cornerstone of an investment style. " When TIG went to 11p recently, I could have pulled out with almost double my initial money but, even though I knew it could go down, I held thinking that it might go up further. But the thing is, I know that I will only invest in companies that I truly believe will untimately provide me with a healthy return on my investment... "Unless you can watch your stock holding decline by 50% without becoming panic-stricken, you should not be in the stock market. " - another Warren Buffet quote... TIG is a good solid company no matter how you look at it and I have said this a few times before but if you do not need the money now for an urgent operation, then it will eventually come good....
http://economictimes.indiatimes.com/Personal-Finance/Insurance/Auto-Risk-Management--Innovation-Group-enters-into-JV/articleshow/4556725.cms : Although they have not disclosed the sum involved in this joint venture, I think that it is a sign that TIG are going form strength to strength. The last paragraph in the article states "Auto claims in India are rising in line with the non-life market to an estimated 70 lakh incidents annually. Innovation Group with a turnover of £143 million has a global presence and processes more than 1.2 million claims every year."... 70 lakh is 70 thousand just incase anyone was wondering...
Proven to be right once again, mate...When will they learn to not mess with the DON of Manchester eh?!!!