How buy shares at 32p ?29 Oct 2020 13:59
Can someone explain the mechanics of what happened ?..
I bought 1100 RR shares a couple of weeks back at £1.80 via Barclays Smart Investor. My original holding now shows a loss and I have 10 new shares for every 3 I held that show a profit, so overall my investment is still showing a similar profit to before the Rights Issue .
The thing is I thought I had to buy the new shares, it appears I've been given them, plus I have the option to sell them. How have RR raised money by giving us shares ?
My investor account says respond by 9th November, but when I click it says Default Option applies - what does that mean?
I was expecting that I would have the option to purchase the 10 for 3 shares at 32p, How do I get that option ?
I would appreciate any clear explanation - work on the for dummies approach.