The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Masai mara, I'll let you know if I find out more. No haven't managed to try to trade them as wasn't in account until I'd gone to work.
Stile. What do you mean by taking the pxxs? The fixed price to take up rights is e5.55. which works out at around £4.85. I was saying Halifax say they wanted £4.01 (which I believe to be a mistake). So how is that taking the pxxs?
Notheo. Strange that e4.55 is pretty much exactly £4.01 at todays exchange rate . Has some fat fingered Halifax employee made a mistake of 4.55 instead of 5.55? I'm just worried that we'll put the money in account that they said was needed and then re calculate it up 20%.
Juboy . You must do something! Do nothing and you will get nothing for your rights shares even. You have to action something to get anything . I suggest you read what your broker has sent you. ATB.
Just had a chat on Halifax and they said after sending me a very large convoluted equation that that's the price they have been given. I asked would it stand if I took up the rights and they said yes based on above equation. I printed it out.
Just for curiosity I multiplied the £4.01 by the exchange rate today and it came to within 3 decimal places...e4.55 . Has someone slipped up typing 4.55 instead of 5.55 i wonder. If everyone with a halifax account could check because they're probably gonna charge you 20% more when they realize their mistake , if I.m correct.
Hexam. Exactly. I'll have to message them as it can't be right and it bases how much you will need in your account to take up rights on this figure.
Moochee, I think it says it's an indicative price and could change with the fx rate. However the fx rate is not correct on the quote we have been given, at £4.01 , that would be a gbp/eur exchange rate of 1.384!! Bit bad really as we're gonna need a lot more money in our accounts if we wanted to take them up. I may message them.
Anyone got a halifax account? Is yours showing an indicative price to take up your Rights as £4.01? That's way off the mark FX wise. Did anyone try a sell today, what sort of price is the Rights at ?
masaimara , thanks for that. Only thing is with such a high ratio of ordinary/RI of 3/8 , if you sell the ordinary you still won't have enough to buy your rights up. It's a tricky one. Hate rights issues. Looks like you are getting 'free money' but in actual fact it's just like they sold part of your holding while you were well under water with it.
Me too, I was just referencing the situation of taking your RI cash if you don't take them up i.e sell them. As I understand it if that money comes to more than £6k it may be taxable. Or I may have read it wrong.
masaimara, what was the record date you had to still hold ordinary shares in order to still get the option to buy the rights?
Don't forget to look up the rather complex rules regarding letting your Rights shares sell and receiving the cash, if you have a sizable holding which qualified for rights and it's outside of an ISA. Especially as next week the CGT allowance goes down to £6k.
Frankfurt stock exchange. Look up TUI rights ticker. Trading at around 5.40-5.60 .
Trading for 5.50e in germany this morning.
My take is this. IDS BOD wanted this outcome for two reasons. Either they want to offload RM letters to the Govt to run or they want the govt to say no way were taking that on, here's your abolishment of the USO run it profitably yourself. Don't really think they are fussed which option comes to fruition now.
If I could sell my RI shares for £7 a pop when I get them issued I'll be hitting sell . Anyone got any ideas if you can actually manually sell them and what price they will be trading at. Looked on fse and not trading yet although the ticker is there.
Anger. Maybe in your office but as you know all things are very much not equal with Royal Mail. Never have been.
Aspers, Halifax not showing any rights issue shares in my account yet. Just that I am s shed load of money down! Think they were slow to credit the RI shares last time too.
The overtime attitude probably stems from when you start at royal mail on a 25hr contract and are put on a full time duty and feel as you are on trial that you can't say no. You therefore get used to it and when it's taken away, naturally miss it. It's a standing joke that royal mail runs on overtime........ until recently with the overtime bans at some offices. Then, the inevitable happens and a good proportion of the mail doesn't get delivered.
Must admit I thought about that name change thing. Easier to erase royal mail from IDS than it would have been from Royal Mail Group. You reckon that the mkt cap without royal mail will be higher? What about paying out redundancy?