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i quite agree about the 0.3 offer....a maximum of 15 private investors could benefit...i raised the matter with the broker ("we can do what we want"), the nomad (no response), the company (no response), the AIM Regulator ("we consider all enquiries.....!!", which means, it became clear in discussion with them, "we will do nothing or if we do do something we are not gonna tell you")...it's just a wall of silence/indifference. disgraceful
when i spoke to the broker i guess i could have put up the 10K they were demanding..i just felt that, with the company's track record, it was giving them slightly too much of the doubt
but, i would have put up say 1k...
amazingly, the offer was fully subscribed before the end of the day, as you say it was chum's deal, 10k is quite a statement so they must have had some inside track
Just in case anyone, like me, is mug enough to enquire about taking part in the Broker Placing, please be aware that Turner Pope are applying a minimum subscription of £10000..yes, pounds, not shares. So upto 15 private investors will benefit. So much for us avoiding dilution. I guess these allocations might be sub-parceled out but one would have to have a link to a successful subscriber. You have to open a TP account to subscribe so I guess this is just a quick and dirty way for them to get new clients. There is a good chance that this will dip below. 3 at some stage although maybe even paying. 37 now will be worth it in time
it's ok, you can stop struggling..i have checked with wh ireland
i repeat what i said about rights issues and open offers.....because ive had two in the last two months, with de la rue and omega...and participated via IG...luckily to considerable benefit
you can if it was a rights issue or an open offer...that's why i'm asking if this is different...anyway it doesn't matter, the market price is only slightly above the public offer price..in the long run it will be a trivial difference
why do you think my position is "ill"?
yes, i do, even the second cousin once removed of RNSs would be welcome
patience is indeed a virtue but, as John Maynard Keynes said, in the long run we are all dead
let us hope some sort of relative writes to us before that unhappy moment
to FastMoney...i have my DLR in a spread betting account with IG...my open offer entitlement has been showing there since the day after the announcement
Migsmc186...it is true that you do not benefit from the placing...but if you are an existing share holder (on 12 June) you have the RIGHT to participate in the Open Offer and your broker will contact you about this..or at least should
ring them
that looks right..i had an upbet of 22 on DLR on my spread bet account, before the offer, and i now have an extra 9.58 credited to my account...over £500 profit at today's price in the market...not bad for sitting back and doing nothing!
as an existing shareholder you have the RIGHT to buy a certain number of shares in the Open Offer...that number is represented as a percentage of your existing shareholding...how you raise the money for that is upto you...but one way is to sell existing shares at say 160..raising enough to buy your entitlement at 110...i must confess i haven't read the propsectus so i don't know what the percentage entitlement is
anyway, once you know your entitlement you will know exactly how much money to raise
BUT, in addition, believe (and i may be wrong here, you will have to check) you will be able to subscribe for more shares than your entitlement, and you will need to set the funds aside in case you are successful in obtaining the extra shares...but of course with the trading price at around 160 the world and his dog will want extra shares at 110, so the chances of getting any are close to zilch
as to the company informing shareholders of the offer (raised by another correspondent on here)...that is not normally what happens...the broker should have all the details and should be asking you what you want to do
you had to be an existing shareholder at the time of the announcement...you can now sell those shares if you want to, to raise money to take up the offer
well, for what it is worth....i hold my DLR in my IG Index spread betting account...the account has ALREADY been credited with my Open Offer shares although, of course, they are shown at NIL value and cannot be traded at the moment. IG want me to notify them by email if i want to take up the offer at 110, which i have done. i have also asked them how much margin i need to set aside and when the due date for that is; and also if i can apply through them for additional Open Offer shares.
The DLR market price post-Open shares becoming tradeable is i believe 133 as at the point of announcement yesterday, it will, judging by the market reaction yesterday and assuming nothing untoward between now and the close of the offer, be above that.
Your broker should automatically contact you about any corporate action like this and tell you your options. If he doesn't, give him a call ....basically you onlyhave two options, find the money to buy your entitlement at 110, or let the offer lapse and do nothing. at the present market price you would be a fool not to take up the offer, it's a 50p profit per share instantly, although this will change over the next fortnight, maybe up, maybe down..but you are virtually guaranteed a profit of some sort...unlike with a rights issue you cannot trade the rights to these open offer shares