Member Info for BradSmith

If the administration is being handled from the Emirates for all brokers - they will have agreed time-scales with those brokers - so all their work is based on 7th/8th June deadlines for LSE/ASX . To undo all of that would cost TLOU an absolute fortune I reckon. The Emirates did well to spot my mistake and have worked relentlessly on the 7th/8th it seems. Extra work to extend those dates to the 15th sounds very complicated to me? I suspect brokers will honour the original time-scales and ignore the RNS for existing applications. BUT they will clearly have to accept late applications up to a revised date , broker by broker . And they will have disgruntled shareholders some of whom will want to change the requests but cannot?

TLOU have mis-managed this Rights Issue - their Tom Foolery has stopped many applications for certain - so it is undersubcribed by people who would have participated on top of the Whizzers of this world! My X-O application looked impossible until the price rose to make it possible at the original 11th hour. I am still unsure what is happening at X-O and I might have interest charges to pay or maybe the application was rejected - I am yet to hear! I could have sold at a loss and not got anything back. It is a mess!

I think the original schedule was definitely too tight - I struggled with X-O who used snail mail to inform me and there wasn't time to snail mail my acceptance - and my IG accounts were fine.

Or were they? Yesterday I got an email from IG telling me I needed to fund one my of my accounts or I'd lose my application , and it had to be completed by midday today!!!!

I phoned (on a Sunday) and thought I had the wrong number when the guy answered "Hello".

It was IG , and the guy spoke so fast I could not make out a word! After many repeats, he made it sound as if the problem was not with my ISA which had more than the figure mentioned , but with my other account? That needed a further £2400 but it too was clearly funded for a lower figure than my iSA!

I sent an email to IG to ask them to confirm all was well from the start , unless I had been stupid, heaven forbid!

Just got a phone call (from the United Emirates maybe) and a lass explained what the issue was! She had not seen my email , but had been informed by IG to get it sorted! She said they were handling the Rights Issue on behalf of someone, TLOU or IG I suppose?

Happily I got the answer to my stupidity!

On my ISA form I had clicked "Move the shares to my share-dealing account" , which was the wrong way round, I would not have minded them going into my ISA from the share-dealing account - which is not an option.

So my ISA funds needed to be in that account!

I love IG, I was able to go into Corporate Actions and edit my applications! I turned off the transfer request and re-submitted it.

She is going to ring me back later today. She did not understand the heat is off because of the RNS today - and thought the 15th was the release date for the shares and I'd got it wrong. I left it there (the lovely Rose has just called me to say all is well) and she works for IG. I think the Emirates found my mistake and asked IG to sort it out! All is well now.

When I got the flat in London, the family came up from Dorset for the London Marathon.

Hugh Jones was our top UK entry , and I will never forget my first sighting of him running!

His stride was so far it seemed unbelievable. I don't think I could have sprinted at his cruising speed in a Marathon.

Https://www.oxford-royale.com/articles/reliving-sir-roger-bannisters-four-minute-mile/

gives the answer. The other site is worse than useless! Iffley Road track in Oxford.

I wanted to find the name of the stadium Roger Bannister ran his 4 minute mile.

I used VPN to get around the result but you'll be as amazed as me if you try this link from the UK.

https://lancasteronline.com/sports/68-years-ago-roger-bannister-became-first-to-break-4-minute-mile-video/article_141513ce-8f88-11ea-aeea-2395833409e1.html

Checking for progress on my Jarvis account , and there seems to be no confirmation. I am expecting them to snail me one of these days.

However, in looking for it , I found the explanation of my question about 31st May and Crest?

The advice is for people who have paper shares to withdraw or input into the system?

My recent sells (today's clears on the 5th) appear under my TRADING LIMIT!

I found this Jarvis definition ....

"41.31 Trading Limit means the value of transaction(s) that can be executed on your Account without the need for cleared funds"

I think that today's trade is therefore considered to be "cleared" within my accpunt.

Winni, as we both know brokers allow us , in good faith, to use unsettled funds to trade.

I cannot find a ruling on whether the purchase has to betradable shares that are already issued, or, if it is different for untradable rights issues. The big nono is that you hold to at least until settlement date and don't sell prematurely, deemed to be "free riding".

X-O rely on snail mail so I think that is why the request the cash to be in place as early as the 2nd. It means your snail mail confirmation (as issued online at IG) is valid on the 2nd when they prepare the letters. X-O only permit LSE , thank goodness, which is why I opened my IG accounts.

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!

Who'd have thought there would be a chance to sell existing shares for more than 2p but it possible for the moment.

Yippee , cancelled my limit bid!

Was about to give up on my nominee!

Did a dummy sell and up popped 2.03p like a mirage!

Grabbed it on fixed quote so I have full entitlements and a few excess on all my accounts!

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.