focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Winni,you are right , also received this!!! Why there isn't a 12 hr displacement is beyond me.
All my IG preparations are settled , more by luck and judgement, and your timely heads up on how to order online that I was waiting to happen automatically. Cheers!
When do I need to fund my account by?
Please ensure the account holding the Tlou Energy Limited (LSE) Non-Tradable Rights Issue is adequately funded to cover both your basic and oversubscription positions before the IG deadline, 05/06/23 12:00 UK time.
Winni , This was from IG
When do I need to fund my account by?
Please ensure the account holding the Tlou Energy Limited - (AU) Non-Tradable Rights Issue is adequately funded to cover both your basic and oversubscription positions before the IG deadline, 07/06/23 11:00 AEDT.
Can anyone explain the significance of these two dates?
My heart sunk when I saw MAY.
My first thought was that the jump to 2p+ was a result of these statements and I had sold shares over these past two days that I would not have replaced by the rights issue.
"Recommended latest time for requesting withdrawal of Entitlements from CREST (to satisfy bona fide market claim only) 4.30pm on Tuesday, 30 May 2023"
"Latest time and date for depositing Entitlements into CREST (to satisfy bona fide market claim only) 3.00pm on Tuesday, 30 May 2023"
i was under the impression that the 7th and 8th June for LSE and ASX were the closing dates, but Jarvis give the impression they want funds in place by the 2nd June (tomorrow) or they will charge interest and/or commission on the rights issue. It has been been a bit woolly this time round - all a bit rushed? IG was quite relaxed , Jarvis less so. Fingers crossed I am done with over 850k shares coming back to me by 16th June. Not bad considering I was not going to bother at one stage.
Just totalled it all up, and I have raised well over £17k in cash , which is money I did not have!
All of that goes into TLOU coffers due to their the rights and excess shares issue. Unless I am not given my excess shares. Not likely to happen imho!
Maurice, you have this all wrong.
The absolute opposite applies!
My options were to ignore the rights issue altogether , take a tiny proportion of my entitlement , delve into my ISA savings which I am putting off OR LET EXISTING SHAREHOLDERS BUY MY ENTITLEMENT PLUS A FEW EXCESS SHARES IF I GET THE CHANCE.
The capitalised bit is giving that money to the company , money they would have had to raise elsewhere, from the Doc as much as anyone else.
I have lost a few quid to give TLOU that cash. I have saved paying commission on the rights issue but TLOU budgetted for that , and insodoing have given shareholders their usual commissions back in shares.
The incentive is to make a success of the Rights Issue , increase new investor's confidence in TLOU, and raise the sp post issue for all our benefits!
If the issue is a disaster then we may have to suffer the clandestine private investors being tapped up at discount prices for the distant future. I moaned at TG not allowing us to buy at a discount and he has put that right here!!! I'm backing TG as much as possible. I'm sorry you misunderstood my intention. TG won't!
Sell as many as you fancy but ensure you do not reduce the price below 2p for your trade, and allow for the commission on your sell of course. I had to fund my account for £2.95 because I only made £3 profit and my commission is fixed at £5.95p , no frequent trader prices!
I am confused why brokers are letting people buy @ 2p or 2.1p when I am offering 1.98p!
I decided that 200,000 exceeded 100,000 so rather than partially fill my sell and risk double commissions - they matched 100,000 at a higher price!
I changed 200,000 to 100,000 which is much less than my entitlement!
I did 100,000 best offer and was offered 1.942p
Best part of £2k for TG as new capital? A bit of a loss for me! A negligible amount if the rights issue is considered to be a success??? I took it! And the other 100k sat there doing nothing!
I repeated the best offer and this time was offered 1.95 almost 2 x £5.95 commissions more!
Less of a loss as well. So one my X-O ISA is now fully funded with a few excess shares requested.
Now my nominee account needs attention!!
Not only has Jarvis left it too late for me to sell some shares at a profit , but I see they need written confirmation of my requirements by 2nd June.
So time restrictions at both ends of the candle. Two buys at 1.98p and 2p this morning give me the slightest hope of retrieving the situation and there is still just enough time for me to test the auction this evening.
Best offer was 1.9p , and on best offer it is instant take it or leave it.
Limit bid allows up to 90 days expiry date so tomorrow will be in time for 2nd June by email, but not snail mail.
The answer is no , Ripley.
I am not selling any at that price. I have already sold enough at 2.1p and 2p on my IG account to raise enough cash to take my full entitlements on LSE and ASX and a few more on each account.
I am willing to sell at a fraction below 2p, 1.98p+ perhaps, to take up my new shares on LSE at that broker. I am reticent to do what I suggested , i.e. enter a sell over more than one day so my trade can figure in the end of day auction. It could work well , but also risks part-fills of hardly any shares on each day ,with commission payable on each day.
I might buy a few for my ISA seeing there is no commission charged. Spending the £5.95 commission saved adds almost 300 new shares to any rights issued shares.
Just tried sell at best offer with my main broker and they only offered 1.83p
Not prepared to duck 0.17p per share to raise the capital for the rights issue at 2p
So it looks like I will be relying on IG for my placings. I might apply for a few using my own money but I cannot justify drawing out savings to do so. If TLOU had given us some warning I could have sold when the going was good and taken all my quota - but then the sp would have dropped sooner than it did and stopped some from applying for their fair shares.
Don't understand how the final trade was a buy @ 2p?
I think my sells @ 1.98p must have timed out at close on the dot at 16:30 and then an auction resolved that trade at 2p - hardly fair on the buyer?
I put the "valid for" days as today - perhaps if I said "Monday" I might have captured a few at 1.98p?
On Monday I might enter a few extra days - I accepted the default of 1 out of laziness - and try again, not necessarily at 1.98p .
I really envy MM - with hindsight I'd have followed him out - and use all the proceeds from that higher price to buy back in (subject to oversubscription wich would be a disaster).
Whilst we are all suffering dilution on our holdings , he has none! So he gets a rock bottom price, no dilution , and a shed load more shares than he sold.
I believe him to have had excess of 3m so there is a chance he would not get his quota - but Whizzer's entitlement will be a decent start, and there will be others for sure.
Yes Winni, we used the Doctor because TG saw the repercussions from an undersubscribed rights issue.
1. The Doc and Pension fund could wag the dog at any price they felt like?
2. New investors will look elsewhere because a company that is not even supported by existing shareholders must be duff?
If the issue is a failure - we might be saying cheerio to further rights issues.
I guess TLOU are committed to paying brokers irrespective of whether the brokers bring home the bacon for them or not. I wonder if Minorminer will apply for some of the excess issue?
It could be a sensational time to get back in at a great price and help the company at the same time!
An anti-Wizzer approach if he thinks about it?
Thinking about it , gas is lighter than water so a decline rather than an incline will allow the gas to bubble up through the water at a higher pressure? I can see why horizontal is the chosen route and a parallel drain channel was considered.
Good luck BTS - are you still checking Robin Hoods Bay for that bottle of beer I posyed in Poole Harbour?
Thinking about horizontal wells , there is the problem! We need #6 to be drilled vertically, and the sideways one should be inclined upwards so the water RUNS DOWN the channel. It won't be very steep unless the seams are thick enough. Sirius expected their seams to be 5m thick and when they drilled they were 22.5m thick. Whizzer size! How the hell did some of us loose money after that? The fleet of ships and harbour plus another channel tunnel to the port is the answer! What a pity potash cannot be deivered on the national grid!
Whizzer you demonstrated that you only envisaged spending new money on the rights issue.
I demonstrated that you could actually make a profit from selling enough to cover the rights issue. You have left it too late now.
I left it too late because I waited for IG to allow me online trading , and it was already available once I saw Winni's post which I found very helpful and not preaching!
I have completed my preparation at IG and have lined up LSE and ASX rights at 2p and 3.5c without having to trade on ASX which is more costly than on LSE! And I am getting 5000 more shares next month for £250 than I did last month for £300.
My other broker has been too slow for me to make a profit , but I am allowing for a tiny loss by selling @ 1.98p to buy back at 2p on the issue. If I don't have any takers then I'll forego the issue at that broker.
There was a tragic collision between a boy and police van on a 999 call in Lancaster.
The reporter on BBC stood under a fairly dirty road sign to "Torri shot me" at first viewing and then it became clear the place is "Torrisholme".
The Downing St. incident makes me smile! It was clearly an old guy following Sat Nav and was totally confused. There is no damage to the front of his car worth mentioning.
I know the feeling , my Sat Nav , the missus was directing me in Brest, France on the way to Bordeaux and I turned a bend to find a Naval yard guarded by machine gunners!!! I suspect the guy was as surprised as I was! We never went to Bordeaux after I saw a road sign saying X km, and then another one further up the road saying X+10 km! I think I was hit on the head by a flying map that day. Happy days now.