Member Info for Batfasted

It seems to me that you can either purchase the new shares for 12P each up to your allocation quantity or not. If you don’t purchase them you can’t sell the option. However, I am not an expert so please check the detail yourself.

Hi David
Should say:
.......option to buy 5/9 of your existing shares at £0.12 per share.......

Hi David
You should have a notification of a “Corporate Action” in your account. You need to read this and take appropriate action. I don’t think the quantity of shares in your account should have changed but it may also show a further entry of your option to buy 5/9 of your existing option at £0.12 per share. There is a strict timetable for taking up this option and paying and You should check this.

Extract from prospectus:

Dilution
If a Qualifying Shareholder who is not a Placee does not take up any of his or her Open Offer Entitlement, such Qualifying Shareholder’s holding, as a percentage of the Enlarged Share Capital, will be diluted by 46.4% as a result of the Capital Raising.
If a Qualifying Shareholder who is not a Placee takes up his or her Open Offer Entitlements in full, such Qualifying Shareholder’s holding, as a percentage of the Enlarged Share Capital, will be diluted by 16.6% as a result of the Firm Placing.
Costs and expenses
The total estimated costs and expenses of the Capital Raising payable by the Company are approximately £10 million (excluding recoverable VAT). Shareholders will not be charged expenses by the Company in respect of the Issue.

Thanks Pokerchips.
I thought 9th September is the “Record Date” meaning that this is the date when the shares held qualify for the offer and shares bought after that do not qualify for the offer. I agree this is not the date that the new shares are purchased.

The. RNS announcement giving the results of the Conditional Placement seems to say that qualifying shareholders can purchase 5 new shares at 12P for every 9 shares they held at a given time on 9th September. Please could someone confirm my understanding?

Hi Thomson
I think it is very useful to have a knowledgable poster like you on this forum. As far as I am concerned the purpose of visiting the forum is to learn from more experienced posters. Please could you give me your opinion about what will be the next stages of this share placing and what will be the options for a small investor like me?

Please could someone explain what small investors need to do? I see there is a timetable of events with actions of 15th Sept and 24th Sept amongst other actions including pink and white forms but I don’t know what these mean. I would be grateful for any explanation.

Tiger
1. Why do you refer to a “rights issue” when the statement is actually for a placement of new shares?
2. The BOD are entitled to reject an offer without notifying shareholders. For all we know, the offer might be ridiculous and not worthy of consideration.
3. Do you have any credentials to support your assertions about the law of corporate takeovers?.

Alnwick
I might have missed something. Where did you get the figures for the profit forecast? These look like the forecast figures for the previous year.

Mark

Agenda is published on Saga website:
https://corporate.saga.co.uk/media/1351/saga-plc-2020-agm-combined_final.pdf

Can anyone understand why the SP dropped today when the Saga Fundamentals tab shows that far more shares were bought (7,504,605) than sold (1,689,950)?
This should cause SP to go up. Shouldn’t it?

Very poor quality posts from all of you. No information just partisan nonsense about your price estimate without any reasoning being given. It’s like listening to partisan chanting of a football crowd.
The price dropped 8.93% yesterday but less than 0.01% of shares sold in the day. This is hardly market sentiment and nothing to do with the true value of the shares. It seems that the MM’s marked the price down and a small number of people sold a few shares because they heard some adverse comment probably from an ill-informed thicko.
Try telling us something interesting.

Very poor quality posts from all of you. No information just partisan nonsense about your price estimate without any reasoning being given. It’s like listening to partisan chanting of a football crowd.
The price dropped 8.93% yesterday but less than 0.01% of shares sold in the day. This is hardly market sentiment and nothing to do with the true value of the shares. It seems that the MM’s marked the price down and a small number of people sold a few shares because they heard some adverse comment probably from an ill-informed thicko.
Try telling us something interesting.

Did the board know that the airline industry would be grounded when they bought the shares. I very much doubt it. This company is a manufacturing conglomerate with very hungry factories but very little industry (customers) to supply. If they are not manufacturing much then they will still have large overheads to pay. Do you really think the shares are good value? If so please explain how they will make profits to boost shareholder value? This is all in my humble opinion and I would be interested in the views of others.

I didn’t notice any difficulty with buy orders. I had no trouble placing buy orders on Friday. I placed 3 orders during the day without any problem and my last order was executed at 14:04.

The East
I agree with you.
Due to nervousness I sold at a small loss last week but bought back at 15P this morning. I think this will prove to be a good move in the near future. Have I made yet another mistake?

Bought at 26.62 this morning. Hoping it’s not another big mistake. I thought if they are going to announce about £120M profit and if Titan is worth £100M then can’t be bad at this price. Am I wrong?

The price target was raised as per below quote posted today.

Shore Capital today reaffirms its hold investment rating on Provident Financial PLC (LON:PFG) and raised its price target to 510p (from 500p).

Hi Trenners
I have posted with a new title because your title was disrespectful and unhelpful and probably bad advice. I hope others will abandon your thread title too.
You have said that directors are not buying but this is incorrect. They have been buying and at much higher prices than the current SP. Now that we are in the Close period the directors are forbidden from dealing in the shares. The latest information we have been given by the Company is that Saga should make a minimum of £106M profit. Based on this and the statements regarding the future dividend payout ratio, could you explain your reasons for saying buyers should beware. Your comments are complete nonsense in my opinion.