Member Info for Bonz1957

Think you will find the amount received by those who allowed their rights to lapse is likely to be 58p or less per share - 90p less the 32p paid by those that bought the rump, less expenses and commission.

From the RNS: The net proceeds from the placing of such New Ordinary Shares (after the deduction of the Rights Issue Price of 32 pence per New Ordinary Share and the expenses of procuring subscribers, including any applicable brokerage commissions and VAT which are not recoverable) will be paid (without interest) to those Shareholders whose rights have lapsed in accordance with the terms of the Rights Issue, pro rata to their lapsed provisional allotments.

denby69 - I also hold paper shares and my new Shareholder card arrived in the post last week.
If you hold a minimum of 64 shares and haven't received yours yet then best to contact Whitbread's Registrars. ATB

roadie206: The Record Date for the Sept div is 24th July, so you would need to make sure that any shares you buy are registered in your name by that date. ATB

You are not comparing apples with apples.
At opening those who did nothing may well have received £11.49 as in your example, but at opening you would have sat on a profit of £11.49. The fact that your profit now seems less is because the price has dropped since opening, with the placing of the rump at 2550p possibly having had something to do with this.
Instead of falling to 2544p in your example, had the price risen to say 2744p then those that didn't take up the offer would still have received £11.49 but you would be better off by £12.44.
Happy to have taken up my allocation in full.

This has gone ex-div today for the 1.6p Interim Div due to be paid on 15/12. The Special Div of 10.7p was paid on 17/11/17. ATB.

Following the result of two successful exits from Clifford Thames Group and Technical Software Consultants, a Special Dividend of 10.7p will be paid on 17th November to those on the register on 3rd November 2017. ATB

Chate What you are missing is that long term shareholders have seen the NG sp rise over time to reflect the value of the asset that has been sold, anyone who bought in recently on the hope of getting something for nothing will simply get some of their money back. This is exactly the same scenario as Vodafone and Standard Life. Long term holders saw the rise in sp and benefitted from the special div, those that bought in late thinking they were getting something for nothing clogged up the boards wondering why they weren't benefitting. ATB.

matathm This is a Share Consolidation, they are replacing every 12 existing ordinary shares with 11 new ordinary shares. So as there are 3,749 million shares at the moment then there will only be 3,436 million shares after the consolidation. When people talk about buying your 'lost' shares back after the event they mean out of the reduced share capital. NG are NOT taking away one in 12 and then "they are selling the bought back shares anyway" as you suggest, that is NOT how a Share Consolidation works. As they are reducing the number of shares in circulation that everyone holds then you will still have the same % of the company after the event as before. ATB.

Ouch OHSEE.....feeling your pain. A few companies used to give you the option of taking things like this as either a div or as a return of capital, so you could choose the less painful option of Income Tax or CGT to suit your own personal circumstances. Here, sadly, there is no choice. My portfolio has been built around those that pay a good div and allow me to reinvest in new shares through DRIPs and SCRIPs, but appreciate that doesn't suit everyone. At the end of the day NG will be smaller due to the sell off, and we will own fewer shares, but still have the same % of the Co as we do now. And the smaller Co will pay a slightly smaller div as a result. As Gerry557 so eloquently puts it, the benefit is to those that were in this share long term and have seen the sp rise leading up to this event. Any that are tempted to buy in now for the prospect of a big special div will just end up paying to get some of their own money back when the share is consolidated, as was the case with Vodafone. ATB.

Depends on your tax position OHSEE. Inside an ISA there is no tax pay, and even outside there is a £5k allowance, so with dealing charges from £5 then the cost and SD to buy new shares with the special div will likely equate to pennies each!! Am willing to bet that after all of this there won't be more than 10 shares difference between what I own now and then, hardly worth worrying about. ATB.

It depends on how you hold your shares topdown. If you hold your shares in certificated form then their SCRIP Dividend Scheme is suspended for this special div and you will receive a cheque. If you hold your shares in a nominee account then you can choose to use the cash to buy more shares if you so wish, if your broker normally reinvests your divs to buy more shares in this way then they should automatically do this for you, but it may be worth checking with them just to make sure. ATB.

J&E, exactly what I shall be doing, using the special div to buy more shares. So should end up with roughly the same holding at the same price generating the same dividend, but with a slightly larger % of the company. ATB

Yes and No. The value of your holding will be less but you will have 84p cash for each share you hold. For example, say you hold 1,200 shares now at 987p = £11,844. After the special div and 12 for 11 consolidation you will hold 1,100 shares at 987p = £10,857 plus 1200 x 84.3756p = £1,012.50 in cash giving you a total of £11,869.50, a slight increase in overall value.

Nice to see this reach 500p - onwards and upwards. ATB

There is no 'next significant date' as yet. The 'Recommended Cash Offer' document of 15/12/16 states "21st Century Fox currently anticipates that the Acquisition will complete before the end of 2017." It goes on to list a number of Pre-Conditions that need to be met, including EU competition clearance, and possible approval of the Secretary of State, along with approval of Unaffiliated Sky Shareholders and court sanction of the scheme. There is no schedule of events at the moment and IMHO there is not likely to be any movement in the sp for the foreseeable future. But as ever DYOR. ATB.

Interestingly the 'Cash Offer Document' received today states that Sky will not pay any dividends in 2017 as it is expected that the Acquisition will complete before the end of 2017. Should this not happen then Sky Shareholders shall be entitled to receive a special dividend of 10p per Sky share payable in 2018. It goes on to say that the Scheme Document will be published within 28 days after the date on which the last of the Pre-Conditions are satisfied or waived. ATB.

Following the merger between Eclipse and Apollo, holders here will now hold 0.355628 Apollo shares for every Eclipse share previously held - or 1 Apollo share for every 2.8119 Eclipse shares. Apollo shares can be found under OAP3 with a current sp of 59p, valuing an Eclipse share at 21p. ATB.

As a former holder of Octopus Eclipse VCT (OEC1) I now find myself, after the merger, a holder of Octopus Apollo at a rate of 0.355628 Apollo shares for every 1 Eclipse share previously held, or 1 Apollo share for every 2.8119 Eclipse shares. The current sp is approx. 4.5% below the merger price of 61.3p. ATB.

This was never the busiest of boards, but see everyone over on the new board wherever and whatever that might be. ATB.

It has only just been announced that they are in talks Lucia, it could be a month, six months or not at all. Until the Offer Document is published, if it does goes ahead, we won't know the timescale. One thing is for sure, it is unlikely to be any time soon, who knows how many regulatory hoops they will have to jump through before this gets the go-ahead. It's your decision, bale now with your profit and go elsewhere, or stay for months with little prospect of any upside. As ever DYOR. ATB.