Lapsed rights sale proceeds - when to arrive?19 Nov 2020 10:22
ROLLS-ROYCE HOLDINGS PLC
RESULT OF RUMP PLACING
No info from RR so I thought I just ask fellow RR investors with their experience of RI. My rights lapsed ( don't ask why - was too busy with other things and missed the window ) so RR sold the lot at 90P per share as announced below.
I am just wondering how long will it take to have the proceeds back into my account so I can top up some more?
Many thanks
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12 November 2020
Following the announcement earlier today regarding valid acceptances under the fully underwritten 10 for 3 Rights Issue announced by Rolls-Royce Holdings plc ("Rolls-Royce" or the "Company") on 1 October 2020, the Company confirms that BNP Paribas, Citigroup, Goldman Sachs, HSBC, Jefferies, Morgan Stanley, Crédit Agricole CIB, Santander, SMBC Nikko and Société Générale (the "Underwriters") have successfully procured subscribers for all of the 375,096,792 New Ordinary Shares for which valid acceptances were not received, representing approximately 5.8 per cent. of the total number of New Ordinary Shares to be issued pursuant to the fully underwritten Rights Issue, at a price of 90 pence per New Ordinary Share.
The net proceeds from the placing of such New Ordinary Shares (after the deduction of the Rights Issue Price of 32 pence per New Ordinary Share and the expenses of procuring subscribers, including any applicable brokerage commissions and VAT which are not recoverable) will be paid (without interest) to those Shareholders whose rights have lapsed in accordance with the terms of the Rights Issue, pro rata to their lapsed provisional allotments, save that individual amounts of less than £5.00 will not be paid to such persons but will be aggregated and will accrue for the benefit of the Company.
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