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BUT the RNS says

"Purchase of Shares to invest into an ISA."

Price(s) £3.0886

Volume 19002

Aggregate total £58,689.5772"

SO the implication is he has had almost £60k waiting in his ISA for 3 years while the share languished at a little over £2.00, and now that it's shot up to over £3.00 he's decided to buy?????

Volume(s)

19,002

How does he get to put £58k of shares into an ISA?

How can the market add £750 million (40%)to the value of a large(ish) company on the basis of a decent but not outstanding announcement? I have said a number of times that HFT, ETF adjustments, and relatively low volumes have turned the FTSE into a casino. The good news is that for intelligent investors(there must be a few), they can use the extreme volatility of largish companies to make decent profits. I have held here over many years, doing the obvious of buying low and selling high(er), and like most long-termers, I am waiting for the significance of OCDO's robotics to be fully appreciated. This may still not be a breakthrough, but what it does demonstrate is that when, finally, the market understands just what OCDO is, the company's market cap will be significantly higher.I will hold for a while, willing to top slice should the SP begin to drift, but in the slight hope that we are back in the foothills of an ascent.

II have this AM, taken my rights cash from the account, I expect to see the additional shares appear next week. SP is holding up well, so I am confident of stable/rising over the next few months, absent any major external shocks. All else equal, the next major test is the smooth integration of the assets acquired.

Tho' I haven't posted on this board for a while, I have taken advantage of the exceptionally low SP over recent months to accumulate a reasonably large(by my standards )position.Todays moves takes me comfortbaly back into profit and I will hold for the next upswing in the SP. anyone , who , like me has followed this stock for a number of years will know that it has moved from under 100p to over 2500p and back with extreme oscillations in between.There is no guarantee that this process ha ended , though I, and a few others have, retained the belief that the fundamental tech of OCDO will, eventually be widespread , not just in grocery delivery but in ALL wholesale/retail environments.It's been a long wait but perhaps todays results showing the distinct trend of OCDO 's tech solutions beginning to drive EBITDA.That process will continue and accelerate as the number of CFC's and modules expands.How long it will take for the market to realise that this is not the beginning, it is at least the end of the beginning , or maybe the beginning of the end of the markets doubts about OCDO(with apologies to Winston).

Oracle, short closing will drive the price UP, back to school......

Remeber, ALL the rights issue holders who take up their rights were existing shareholders, who, presumably , like me , expected the SP to rise at some point without the RI. Therefore, assuming they have ploughed in extra cash I would suggest they remain confident of the company's prospects. So I don't see a rush to make a quick buck and would expect the SP to remain stable (except for other market moving factors) or more probably to drift gently upwards as the propsed takeover moves towards completion.

Beofre anybody jumps in , yes , I know that it's possible for some non-holders to buy rights in the market, exercise tem and then exit , but so does the market and there's not much profit in that.

Damo, yes you can.

NOTE TO ALL.

1 The fall in the SP has already taken into account the mass of new shares to be issued .

2 For a couple of weeks, people who held shares before the relevant date will have allocated to them in their brokers account the relevant number( ie 10 for every 19 CSN shares held) of RI shares .

3 Those RI shares can be sold for the market value ( currently 73.5 p). You should see in your account an entry for CSN RI(or similar)for the appropriate number of shares.

4 The number of rights should equal 10/19ths of the number of CSN shares you hold.

4 If you want to take part in the RI, you must have funds equal to 176p for every share you have the right to buy.

5 You can choose to buy ALL or SOME, or NONE of the rights.

6 If you wish to buy some rights and are short of cash, you can sell enough of the rights to raise the cash to buy the rest. DO the sums if relevant.

7 As some have already pointed out, if you have maxxed out your ISA, your only option is to sell the rights to earn some cash.

8 Despite what some have said, it is sensible to act, not to depend upon others to deal with the issue.

Apologies if this sounds simplistic, but it is obvious from some posts that many have never been involved in a RI before, so any further questions I will try to answer and if I've got anything wrong, I'm happy to have others add to or correct this post

Deepjoy, in theory, the rights (which are essentially a token to buy shares at a discount) should trade at or around the difference between the market price of the stock and the price at which the rights can be taken up. As the stock price varies due to normal market fluctuations, so the rights price will also vary. I don't see why II won't let you trade them ,other than it's inconvenient and not profitable for them. I'm with II and have just taken mine up without a problem.

Muppet , as son as the rights show in your account you can sell some or all of them rather than exercise them, as always timing might work for or against you, that's inescapable, but in my experience the markets know how vigorous the take up of rights is and as the period expires, the SP will reflect the degree of enthusiasm for the deal and react accordingly. As a general rule, rights issues in support of an acquisition are generally favourably received, while " rescue rights " are less so , tho' the mega RR rights issue of a few years ago proved inordinately successful. I fully agree that taking positive action, whether to take up or sell , once you understand the options is the best course .

II showed rights this am, I've bought my full allocation, it's usually a straightforward process. One other point, those who don't want to take up all their rights or haven't got cash to spare can "tail swallow", ie sell enough rights into the market to pay for the remainder.

I've been investing for decades, and yet I still don't understand some market reactions. I have held here for some time, being both a happy customer and a fan of a well-run company in a growth area. Today's results are good if unspectacular and the comment typifies Jet2's understated approach to their continued excellence. I am not a fan of buybacks (and much of the academic analysis backs up those doubts), and buying back shares at or near ATH's seemed to me to be Jet2's first significant misstep. In a perverse way today's unexpected sharp fall might actually be a benefit in the medium term , buybacks will cancel more shares as the price drops, so today's ill wind may be a boon.To illustrate how badly I misjudged my approach to today's RNS I had sell orders up to £20 in place!. Now deleted. I have therefore bought more at what, time will prove to be a bargain price. I always aim to hold for a period measured in years and will do so here, or unless/until the SP passes £20!

Tich..the rights issue shares will not show up in your account until after 22 July. Having exercised your rights guarantees them, but the timetable allows for the admin . Had you sold the rights, the transaction and cash credit would have appeared in your account as with any sale after 2 days. Nothing to worry about, and IMO you have taken the most sensible and profitable course.

Greyg , I don't do online squabbles , i would merely say that in the text you quote,"MAY" is the significant word..... I prefer, and recommend, positive action rather than rely on the often obscure terms of an underwriters contract.

As well as the detail of the ongoing rights issue , I thought it worthwhile commenting on the implicit significance of the offer price and the subsequent SP reaction.

First point is to comment on the sources of the cash to be used to buy, £55 mill of own cash, £65 mill drawdown of borrowings and £140 mill RI. That division shows us that the company is pretty confident that the deal will be a big winner, for a company valued at £450 mill to splash more than 50% 0f its market cap on an acquisition is brave, or confident.

Second thing to note is the amount expected from the shareholders , again at almost 30% ,its a pretty big percentage of the MC, clearly the big holders were consulted and signed up.

Third, the discount of the Rights to the SP is about 40% , thats quite steep and no doubt it's the discount that the underwriters pressed for, as others have said the underwriters are on the hook for any rights not taken up.

Overall though, it seems to me that there is a strong confidence that the deal will be signifcantly accretive and todays SP holding very well suggests that the market agrees. ther are no guarantees in investing but my view is that holders will be well rewarded for holding, taking up the rights and sitting on the shares for some time . I intend to do so , but as is my usual approach will post here if/when my view changes.

Greygeorge WRONG ,see my previous post.

As you can see the value of CSN shares has dropped as I described in my post on 4/7 to around 252p, those of you who held at close of play last night, will also see (soon) in your account 10 nil paid rights for every 19 shares you hold. Those rights can now be either "taken up" by paying 176p per share before 22 July or by selling them in the market at roughly (252-176) ie76p each. TO FAIL TO ACT WI LL COST YOU MONEY.

Tich tich, yeah you're right, I noticed it after I'd posted, then was distracted and forgot to correct. Hope everyone sees your correction.

Greygeorge....I don't engage in personal sniping, so I'll merely say that I think my post at 16.13 quoting the prospectus made the timetable clear.......