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Almost all of the "diluted shares" are now tradeable , the II's who own most of them don't have to politely ask their broker to get their finger out , only the relatively low percentage of PI shares with the slowest of brokers are still not yet able to trade. There will be no discernible effect from the last dribbles of these entering the market.

Oilbe.... At the risk of repeating myself( a risk I am prepared to take!)I must point out that Civil aviation (now back to about 40%of usual and predicted by aviation statisticians to be around 70% of normal next year , and that was before the recent vaccine news) is less than half of RR's business, the rest is proceeding pretty much as normal. In addition the major losses from the last half year report were write downs and FX wrote offs, ie they were accounting losses(and as with most firms) there is a suspicion that they were heavily over egged to provide a substantial write off against future tax liabilities.
In addition RR now have around£10 billion of liquidity to draw on to see them through. It is therefor unlikely that , in the absence of another major crisis , or an exceptionally prolonged Covid crisis, they will need to tap shareholders again.
Having said all of that it is worth pointing out that the attitude of PI's is almost irrelevant , a RI succeeds or fails on the decision of the major stock holders , who in RR's case, represent almost two thirds of the equity.

Bungle, to clarify the green panel will be showing "message view " for you at the mo. Click on it to change format.

Bungle click on the green thread view panel on the right and hey presto! back to normal . I think the recent regular service fails are an "enhancement " not properly tested.

Thegame....correcting for the effect of the RI , the SP has exceed £1 only briefly , with the massively increased number of shares in issue there is MUCH more heavy lifting to do ,to drive the price upwards.

Given that stock markets are alleged to look to the medium term future and at the situation 18 months out , there is a very strong prospect of a sustained rally in the FTSE .I doubt that any of the wilder predictions here for 110/120/150 by the weekend or even the year end will come to pass, indeed a fall back is not unlikely, but, I fully expect the SP to make steady progress from here. If that is the case I look forward to the absence of 32 p next week comments and almost as much to the absence of £3 next year comments . With a share base of 8 billion and, IMV a maximum medium term MC of £12-15bill, I don't expect t see more than £1.50 for a few years. However , as a long term investor already comfortably ahead I will hold for the indefinite future.

There is a phenomenon known as "whole number syndrome" and it's easy to understand, how many of you have ever set a buy or sell target at 97.6p or 183.4p , none? That's because we think in round numbers, there will be some who are sitting on a profit and have set £1 as their exit point, they will cause a temporary hiatus at that level until they are all out and then the SP proceeds where it will , that may be up or down , I don't know, and what's more important ,neither do ANY of you posting here know where the SP will go in the near-term future. Anybody who thinks they know better should read " A Random walk down Wall street" by Burton Malkiel, perhaps then you will get the fundamental point about markets , they are unpredictable.

Neenyb see the text below from a post of mine last Thursday about what the shorts were doing, and explaining why the short volume would collapse after the rights were in the market. It wasn't about expecting a large fall in RR's SP it was about creating a classic "hedge " position -the clue is in the name!!
"First, note that the percentage short shot up on 27 Oct immediately the GM voted in favour. That is because a buy rights -go short ,win-win strategy presented .There will be funds which have sold short and then acquired the nil paid rights (which are essentially a highly leveraged upward play on the RR SP)so if the RR share price rises , the nil paid rise by the same cash amount but a much larger percentage, if the SP falls the short goes in to profit. With an appropriate algorithm a recurring series of win win positions is created, and by the way, constantly resetting the position after profit adds to volatility and increasing profits. If I am right (and I have seen it before) the volatility, volume and percentage of shorts will fall soon."

Oilbe.... RR is not a company to invest in if you want dividends. IIRC they pay divis in " C" shares which are worth sod all . If you look at the RNS there are several trillion in issue which nobody seems to bother to convert. I have in the past held RR for periods of years and sold , so I may have entitlement to many "C"'s but have never sought to cash them in , 'cos I don't know how. Imagine the fun on this board when dozens of ill- informed holders pose repeated questions on this topic. I am not sure I have the will to seek to explain!

HI HK ..LSE figures are unreliable , try checking on the real LSE (ie London stock exchange) or, I use the FT , both up-to -date and correct

Not even close. At the mo. RR have 8.3 bn shares in issue and a market cap of around £7.3 bill. lowest in the FTSE currently is ITV, MC of £3.7bill

Wile you may be right that some of the shorters partook in the rump sale, or more likely, as I suggested, they were buying up nil paids and merely exercised them at the last minute to clear their short, that way they don't disturb the market much. There are hedgies which have a revenue stream generated by arbitraging takeovers, rights, placings,convertible debt, etc etc (I am invested in three of them!)

HI Mooney , I use short tracker,
https://shorttracker.co.uk/company/GB00B63H8491/

there are a few other sites, some more comprehensive, but it does fine for my purposes.

That the latest short positions have collapsed , only one remains above the notifiable level and the total notified is now 0.67%.
I have been saying here (to much derision from the PI shorters) that the sensible use of shorting was as part of a balanced strategy and set out a couple of probable scenarios, one of which was dependent upon the existence of Nil paid rights. I also suggested that when these ended then so would the significant short interest . Anyone interested can check out short tracker, but be aware it doesn't show Ratty or VIvv or LSE 's positions!!

Dumb...the underwriters fees would have been determined before the exercise, it may well be that there is a fee for clearing the rump , but most of the profit will go to qualifying shareholders.

Bonz... remember each share attracted 3.33 rights .

Perhaps I could have expressed myself better. The net revenue from the RI becomes £200 mill more than if all rights had been sold at the RI price, which must be perceived as a significant vote of confidence in the company's prospects ,the effect on the market cap is positive because one must assume that the new holders are not planning to sell and hence there will be little significant downward pressure on the SP and as I said , inaction by shareholders(can they all be PI's?) has led to a very positive outcome for them. A £200 million Fillip for RR is perhaps a better way to describe it.

This mornings RNS stating that the rump of shares have been placed at an average of 90p each represents an over £200 million bonus(less costs) for RR from the rights issue. Remember these shares could have gone for 32p each a couple of days ago. That suggests that there are quite a few in the city with cash to spend who regard RR as a secure and profitable investment. Is it about time that the doomsayers took notice of the vast amount of evidence pointing to a recovery in the RR share price and the company's longer term future?
Incidentally, for any of you who allowed your rights to lapse , I suspect a pleasingly large compensation payment (£1+ per rights qualified share?)is coming your way , sometimes stupidity or incompetence is well rewarded.

Couple of points , first, my data shows over 62 mill shares traded today , that's several times the average volume in august/sept., and second, as I have mentioned before II's have been stocking up on these in recent weeks/months and now hold well over 60%, thus even if a very large number of PI's sell the impact on the SP will be negligible, any significant fall in SP will be offset by sensible larger holders sweeping up .

Jenn ....and if they do they are legally required to RNS them- we'll wait to see the RNS's shall we?