Member Info for BradSmith

Isn't that licence for either or both CBM or Solar -you'm testing my memory on old news MM?

Haven't you got something current? We get enough repeats on TV without getting them here.
A lot has happened since you lasst posted (before today) - I'm not sure that BPC are a credible organisation any more.
Robin Island could be be the next holiday destination for the leaders who are left. Corruption galore according to some reports.

FTSE not too bad either?

I freed off some GBP which was earmarked for my ASX shortfall. IG automatically convert currencies to complete trades if needed.
And on their fixed quote achieved this....
Trade executed: Tlou Energy Limited (LSE),Buy 7772 Shares @ 2.1775

Look after the pennies Donk, and the pounds look after themselves.

I picked up 4.2c last night to put my ASX cash balance into credit even if I get all my ASX excess - avoiding an fx conversion from GBP to AUD , though IG are very fair on their rates. They take the lowest of several fx rates and add a tiny handing charge.

I was going to buy some CBA back but at $69.4 I thought I'd wait for $68 or less - wrong! - they closed over $71 so the dividend chasers have come to life (potentially over $90 in other years). There is money to be made on ASX, I sold those 20 shares too early though.

Damo ignored the commission rate for new money.
2.2p placement will be free of commission plus you have a free option.

If you have to sell to afford the offer price you'll have paid commission rate on your sell.

Some of us sold early Chukkers, so we sold for well over 2.2p and will make a profit at 2.2p
The downside was a 1/6th of those early sells were lost from our entitlement.
My excess request will recover those lost shares if they are granted.

On ASX I snapped up 5.6c ( well over 4c ) and bought into CBA which rose $5 each, of which I only needed to sell 20 to cover the offer. So I have a few CBA shares with a dividend coming up (I hope) and all my placing on ASX. I forfeited a few placings on ASX but left my sells on AIM until the entitlements had completed.

My CBA dividends go into TOU of course. Roll on BDC producing a funding offer soon. Will there be an agreement with BPC as a consequence? That bit is mind blowing given the news on BPC.

The number you request will cost you 2.2p NOW (by the 7th) it does not matter whether excess or entitlement.
As you say you will definitely get your entitlement (@2.2p each) but you are likely to receive less than the excess you request (@2.2p each) unless you are very lucky. Your broker will refund the unsuccessful 2.2p extras if there are any.

You will receive an option with your successful shares - not the refunded ones!

For each pair of shares you can buy 1 more optional share at any time within the next 2 years @ 8c (roughly 4.4p but it remains to be seen whether they set a fixed GBX equivalent or whether they'll apply the prevailing FX rate AUD to GBP at the time you take their option shares).

No free shares!

The sub 2.2p prices being offered should cease by the 5th because the sales won't settle in time to fund the placing.
If it continues after, then it is a mug selling them! If there is a large oversubscription and loads of refunded money that money is commonly reinivested after the placing and the price usually rises. The brokers who do not refund promptly can therefore diminish the number of shares you can buy with your refund.

You just need to email your broker with the total you want and make sure you have enough 2.2p's to cover the total cost.
There is no commission on placings (I suspect TLOU pay those) so X*2.2p will be enough. If we were paying stamp duty (we don't on AIM) I think that is waived I think. That makes buying outside of the offer less attractive because both would apply.

Beware of asking for too many - you will tie up the unused cash for an indefinite period (that refund) and it will be useless to man or beast. It can be annoying.

I'm sorry if I have mistaken what you meant Chukkers.
"Will opt" worries me.

You have to request in advance, how many shares you'd like. That number is any number up to your entitlement (automatic) + excess (from your wishlist if you want more than your entitlement).
You also HAVE to fund the whole lot , cleared, by the 7th July.
Your broker will take the appropriate funds on the 7th, and you are then in limbo until you hear how many you get.

Each broker is allocated a number of excess shares to distribute amongst his customers.
You may not get any or , more likely, fewer than you requested.
He will eventually credit your account with the unused cash you supplied in advance.

If you haven't requested your tentative excess, most brokers will allow you to change your order but I guess they are not obliged to. Don't leave it too long.

If you are with a broker whose customers haven't requested many excess shares you'll get your full request, but if they are oversiubscribed, you'll get fewer. That was what my post about Halifax referred to.
It ill vary from broker to broker.

I hope you knew all this, but I don't want to see you slip up i you aren't clear.

Best wishes

Received this overnight from IG. Confirmation of my ASX request plus ....

"You will receive a broadcast email from our UK Division once the LSE Rights are allocated. You may respond once you have received the same.
Kind regards,
Corporate Actions"

Like all ex-boy scouts I am prepared for the placing, money in place and orders complete.

Jarvis forms came in today's snail mail, but they accepted my email was in writing so saves a postage stamp.
Quite a few shares for a stamp nowadays :O)
Hopefully share price will reach the price of postage one day.
At current prices I'm wondering how many people will not be taking the open offer - good for you Swinger , you may may achieve double your entitlement :O)

Had a fright today, I noticed that Poppy's water bowl was empty - a cardinal sin for a dog owner!
I'd started filling it at the tap before I realised it was her food bowl. Poor old Poppy she licked it , still empty but for the water that did not drain off when I tipped it down the sink.

I emailed both my brokers yesterday to confirm my placing requests , and to point out what each company was missing (from my pov). X-O don't seem to have issued corporate action guidance yet, and IG have , but IG have done nothing to show how many UK shares I am entitled to.

i.e. Do 0.333 and 0.667 of a share give an entitlement of 0 or 1 ??? Dividing by 6 will produce fractions in abundance!
Sods law, my IG ASX holding was a multiple of 6 so I cannot see from that.

Neither has responded, so I suspect they are short-staffed with Covid absentism. TG really is having to prove himself with all these unfortunate obstructions that are totally out of his control.

Donk has announced that some BPC employees are having their bank details checked in a fraud investigation.
I think the back-handers are going to be found there instead of Wimbledon this year! That BERA deal is looking to be a life saver cos BPC look destined to be short staffed to an even greater extent than they have been until now.

It's late - got my A and B mixed up, and missed the NOT out, should not happen!

Got carried away again.

Meant to say I have funded my IG account with GBP and AUD so it does not matter what order they apply the shares. Was concerned they'd do the dirty and convert currencies from A to B , leaving B short, and then convert B back to A.
In practice they only convert the nessary value so the reverse should happen, and I sold some CBA from my holding ASX to raise the dollars.

Lager, was it? , I boosted $69.6 to $69.63 cos it increased just as I was about to hit send - and they got me $69.64 so I think they are OK nowadays - I'm happy with them.

My LSE TLOU on the other account are in a Nominee and an ISA so I will have to ensure both those are fully funded too.
At least they are both GBP.

Well done Swinger , hope you are with the right broker aftr your request for so many excess shares.
My experience on SXX was that the excess varied madly from broker to broker - from memory the Halifax did well on the numbers obtained if not on delivery date of the news. Here's a sample (SXX remember not TLOU) I guess it will be horses for courses but I haven't ssked X-O for as many excess shares as I have IG and I requested more on ASX than LSE.
That could backfire if the Aussies are more loyal than us? There were a few people who believed brokers settled smaller requests first so large requests were more likely to be refused. Not conclusive though and maybe only true for certain brokers if true at all. What I do recall is those with heavy reimbursements for low offerings were often annoyed how long it took. The price would be rising but their refund was unavailable to grab it :O(

Ricardo2019
Posts: 102
Price: 15.73
Strong Buy
RE: 48% of additional request30 May '19
Yes they do get different allocations. I received my notification from iWeb today which, being as it's really Halifax but cheaper, I also got 48% from for my ISA. I'm very pleased with that as my SIPP with AJBell only got 18% of the excess I asked for.

Paul.C
Posts: 153
Price: 15.62
No Opinion
X-O Jarvis Open Offer24 May '19
For anyone interested I have just spoken to X-O who have told me we got 19.87% of the excess we applied for. Shares are now showing in our accounts and any extra cash will be returned within the next couple of days.
Sorry if its already been mentioned and posted elsewhere.

chilting
Posts: 6,627
Price: 15.30
No Opinion
RE: HL23 May '19
Does anyone else use the Share Centre? - I got around 62% of the excess shares I applied for - considerably more than expected.

Lager, because you have 2 years to take up your optional shares and 4.4p will not be the equivalent of 8c very often in that period.

8c varied between 3.6448p and 5.0015p in the last 5 years
8c varied between 3.8368p and 4.5552p in the last 52 weeks

No markets are open so I cannot show you the volatility second by second on my IG portfolio.
But when ASX is closed you can see my ASX portfolio varying in price continually (a few seconds) because of the fx rate.

https://drive.google.com/file/d/16MmDhGeAa9a5cjaGZPaw3r6AY0ix_O-V/view?usp=sharing
https://drive.google.com/file/d/1TgciHH_Cybx_vEibC814nEUWsWtUx-n0/view?usp=sharing

God to hear from you BTS.

You need not worry about doing nothing sharewise.
Selling before the weekend was not sensible because it would deplete your open offer entitlement.

You have several weeks to sell the 1/6th of your holding , and then buy them back at 2.2p

Lord knows whether you can will be able to sell at greater than 2.2p one of these days - but that guarantees it won't cost you anything. And 1/12th of the number you sell will be available to buy at a fixed price of 8c AUD. No obligation - if the price is higher within the 2 years the offer lasts it will be nice bargain. I don't think you'll hear from your broker on AIM shares for a while.
The OO is at 2.2p so no problems there. But options being prices at 8c will cost a varying amount as the AUD/GBP rate swings around. When we are updated by the brokers, I am expecting TLOU to possibly FIX the FX rate around that date (as they did for 4c and 2.2p of course) and tell us what the option price in GBX will be - somewhere around 4.4p - unless they use the prevailable equivalent throughout the two years? I don't they will having thought it through.

Good luck with the horses, I had a few small bets recently without any luck. If I backed a jockey he'd lose and win the following race instead! Buick, Doyle , Frankie and Ryan usually!

I backed Pinatubo a bit heavier in the guineas, and then put half that stake on his reapparance at 7/5 to reclaim 2/3rds of my guineas loss. Got beat again - good old Frankie came late and collared him , grrrrrrh!
Packed it after that!

Not sure what happened at the end - Sudoko locked up o every except Register or login (not subscribed). So I could only take a snapshot of the answer which is no challenge to anybody on here.

Here is a copy of the spreadsheet that I have created with the starting position!
Just gettingthe first square took me ages , from there progress was tricky but quick so my time was just over an hour.
Whoops nearly sent the solution ! May as well I guess! Just realised the early file was the answer :O) Wrong way round

Here is the starting puzzle if you need the challenge
https://drive.google.com/file/d/14sTV-9qGgUcJ7OcsNijRmQ9C8xNpIHbN/view?usp=sharing

and here is the solution

https://drive.google.com/file/d/1PQsPFkqyTAMfl7LJg9iJqMRvYBHXXIAq/view?usp=sharing

Not offloading Chukkers. Merely selling enough to raise the cash for the offer PLUS the 50% options. My full entitlement would have cost me too much for comfort.
I'm hoping BTS has done it at 2.35p more so it is a win win for him.
I left it too late and accepted 2.20001 - not much of a profit but 1.5 shares for each share will do.

ASX spread starts below 4c so it could happen on AIM at below 2.2p but I doubt it now I have bitten the bullet.

It was pointed out (on ADVFN) that a recently as June 15th TG said funding talks are at an advanced stage. It was intended as criticism , but I take that to mean we'll be getting news soon and those 8c options will be looking good!

Could be, but don't forget the OO shares come with a 50% additional option to buy at 8c each within the following 2 years. Hopefully a bargain price?
That's the equivalent of 4.43p at today's fx rate.

I suspect the prevailing FX rate on the day you take up the offer will apply, hence the reason they haven't given us a price in pula or GBP? It will be the equivalent of 8c AUD on the days. I foresee the fx rate becoming a regular topic on here! It will be very significant.

Lager, they use either limit bids or fixed quotes, our choice on each transaction.

I showed their fixed quote in this link a while back.
https://drive.google.com/file/d/1SspMqhMZXy7MCRWwUe2cTG_9EZtcv5K4/view?usp=sharing

On Monday both buy and sell fixed quote was 2.4p

It is easier to open spread betting accounts Damo.
And once you have your share-dealing account they make it easy to open a spread betting account - but nothing monstrous like pressuring you into it. They just provide links to those services on a host of pages so you don't forget about them.

Their rates are superb imho. 3 trades in a month qualifies you as a frequent trader for the following calendar month. FTSE commission is £8 for regular trades , £3 for frequent traders!
Buying on ASX is $10 AUD for most trades - there is a threshold beyond which fixed $10 changes to a percentage that I don't recall those numbers but it was not outrageous when I invoked it a couple of times.

As if £3 commission is not good enough , they also allow you fund your account by credit card with no penalty! I opened a cash-back credit card so I get cash-back on money I don't have to pay back for weeks or months , depending on the timing - beats pay-day loans I think?

They also disallow buys below £90 ,and online deposits must be minimum of £250.
If you need to deposit less than £250 they allow interbank transfers. One of my trades took me 7p overdrawn so I used a fast payment of 7p (which was credited on the same day I think).

I like their service.

Now it all makes sense. It looks like they froze online trading on TLOU so they could prepare the emails showing our entitlements and to add the placing to our accounts a.s.a.p...

Phone call trading could be used as an alert that your offering might need updating?

It also prevented punters from accidentally frittering away their entitlements by selling too early, or buying too late to get the extra entitlement?