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Oh and you are also eliminating the risk of a jump in price between selling and buying if you dump the lot

There is no difference
If I have 2000 shares that I paid £2 for I have an average of £2 - Cost £4000
If I buy another 1000 shares at £1 - Cost £1000
I now have 3000 shares that I paid £5000 for = Average of £1.67 per share

If I sell 2000 shares for £1 I recoup £2000 with a loss of £2000
I then add £1000 to the £2000 I got from the sale and by 3000 shares @ £1 = £3000
I have to recover the £2000 loss to be in profit on the shares.
£3000 + £2000 (loss) = £5000
So I have 3000 shares that cost £5000 = Average of £1.67 per share

Henry - I disagree with you. You have to include the actual loss you made into your average cost of your shares. The phychological bit is if you sell the average comes right down and looks better. The loss is forgotten about because it's hidden.

Henry - If you sell all your holding you turn a paper loss into an actual cash loss. If you buy a higher number of shares is fine but the price needs to go up to cover the actual loss incurred through selling.

If you average down you are using the cheaper shares to subsidise the higher cost shares if that makes sense. The only measure of profit is average cost v actual share price. That measure needs to cover any losses made from selling.

Fontenoy - I've decided to take up all of my RI allocation and some more if I get them my average will come doen to 1.30 so happy with that.

Hi Fontenoy - You can only use an even number of rights so you have 1, 124 useable rights. You can purchase 3 shares for every 2 rights.

So shares entitlemnet in RI is 1124/2 *3 =1686

Teacle - we saw it when restrictions were relaxed. Supply is high atm but that will change, airlines will go under so fewer seats when demand picks up. IAG are in a strong position.

Whatamess is just that a mess. No idea, one minute we are in for a crash with a no-deal brexit next it's a long slow death. Make up your mind if you have one that has more than half a dozen brain cells.

I really admire your persitence in trying to warn IAG investors about the impending apocalypse. You are really a very erudite harbinger of doom.

The actual TERP was 128.7 at close last Friday so shares have traded at or above that level since open on Monday.

What you forget is that IAG is not just BA, it's also Iberia, Vueling and Aer Lingus that's not including IAG Freight. It's lokely that some of the funds raised from this RI could be used to fund a takeover of Air Europa another budget airline.

IAG have a good mix of long and short haul routes and airlines mostly in Europe and will come good long term.

One of the BBMF pilots just described the Spitfire as that on ITV programme whilst the Hurricane was the Land Rover

It's a 3 for 2 RI with RI price of €0.92, that was 85p at the prevailing exchange rate.
Share price was 194.2.
Calculated the TERP at close on Friday to be 128.7 so anything over that is a win.
If I take up all my shares it puts my average at 135 so I'm happy so far.

Is this the one BailMaister?

https://www.racefans.net/2020/09/12/how-perez-accidentally-learned-of-vettels-cut-price-aston-martin-deal/

https://www.gridwatch.templar.co.uk/index.php

Small dial left end of bottom row -2.92% 0.93GW

Yes

New "Corporate Action" from II
"The ex-entitlement date for the Rights Issue will be 14th September"
"Rights will be issued to eligible holders on 17th September"
"Upon credit of the rights to eligible accounts on 17th September 2020 we will issue you with a Corporate Action notice detailing the terms of the Rights Issue, your options, and the action required to participate. You will then be able to make your election online in the Corporate Actions section of our website or over the phone."
"We currently expect our response deadline will be set as 22nd September"
They also note the RI price is in Euros so if you don't have an account that is multi-currency "elections may be scaled back". I assume this means that if the exchange rate worsens you will only get the number of shares that deposited funds will cover.

Rox
Maths are fine as far as I understand it.
However the share price is what investors are prepared to pay for a share not the net book worth of the company divided by issued shares.
So if all of the RI monies raised are spent to cover losses then the share price may go down if investors lose confidence in the BoD.

WASU - That's how I read it, IAG based the TERP on share price at close on 9th so it's not actually a TERP. Gave a basis for quantifying the discount.
Actual TERP will be based on close tomorrow when ex-rights starts. So if price goes up so does the TERP, likely scenario as people buy to increase rights under RI.

Henrythecat - Date is 11th (tomorrow) in 6608Y, "last trading date of shares "with rights""
"14th is Initial trading date of the Company's existing shares "ex-rights" and first date of trading of the Subscription Rights"

We don't know the TERP as it can't be calculated until the ex-rights date e.g. close tomorrow!

Good to see you back 3300

Theres a handy link above that will take you to the LSE versions of the RNS's