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An uncrossing trade is where buyers on the bid and sellers on the ask match together in a single trade at the end of an auction period. It doesn’t matter if it’s a buy or a sell it’s just the uncrossing trade and where the final closing price is
Ultimately there really is no clever way around this and as Hexam said a few days ago it really is as simple as 1. Do you want to reinvest? if so take up all your rights. 2. Do you want to disinvest? if so sell your rights 3. Do you want to maintain your original holding in hope of a swifter recovery? if so tail swallow. I think the decision is being made more difficult as everyone is looking at big paper losses at the moment which naturally causes panic and confusion as to what is the best thing to do
ok I understand now, so you want to invest more and take up as many rights as you can with that money. Personally I would call them and do the transaction over the phone. I only wanted to take as many as I could with the proceeds of the sale of my RI as I didn't want to invest any more money as happy with the holding I currently have
Just to clarify, are you investing more money or do you want to use the rights you have to purchase at the RI buy rate ... this would mean you won't be using cash outside the rights issue funds you have been allocated. Known as Tail Swallowing
Dirky do you want to take up all your rights or just a proportion of them?
Stupmy... that's correct. The funds are now showing in my account and will be there until the transaction goes through on the 24/4 when the new shares will show in my original Tui holding
Hi I have literally just been on the phone to HL. I made a decision to sell my RI today and use the proceeds to buy a proportion of my allowance. So I sold 826 shares to buy 127 back. I was told the buy back will happen on 24/4 however I only had until 11/4 to sell. After all the volatility I decided to bite the bullet and do it today.
Nice to wake up to this first thing on a Monday morning:-)
The buy price is but not the sell
IParsnip and do remember …. Just because you have the option to buy x amount of RI shares doesn’t mean you have to take them all… you can take a proportion without investing another penny… if you speak to your broker he will do this for you … that way you will still own the same proportion of the company that you did before.
IParsnip Personally I wouldn’t do nothing … if you do there’s a chance your RI will be worthless . You can buy a proportion of your RI by selling some and then using the proceeds to re purchase at the RI buy rate … you’d have to speak to your broker to do this but it means you don’t have to invest more cash , you’re just using what’s there already , It’s just another investment decision that’s all. But remember it’s only a loss once you sell … I too am looking at a paper loss of 70% and psychologically it’s very uncomfortable. However I believe Tui will come good in the future so I’m happy to stay invested . Personally I’m going to Tail Swallow a proportion of my shares so my investment is at a similar level as before.
iParsnip I understand your frustration you are sat looking at a big loss like everyone. It's currently a paper loss and is purely due to the RI. A lot of people are panicking and probably selling causing the volatility which always happens in this situation . Do Not panic... its a complicated process.
Once you sell your RI you can't buy them back. If you want to take them without investing more you have to Tail Swallow. To do this you have to phone your broker.
The ticker does give a buy price but when you click on deal... it only gives you an option to sell. The buy price is around 5.5 euros
I doubt that's correct. I'd call them to clarify. HL have told me they are at a fixed price of 5.55 euros and to keep approx £5.10 per share available
You either sell your RI and keep the cash if you feel the SP will fall below the current buy back price
Or you buy all you RI which means investing more
Or you Tail Swallow and sell a proportion in order to buy the rest taking your investment back to a similar proportion.
Thanks Hexam your advice has been very balanced and much appreciated, definitely time to take a break now. Tomorrows another day…. if in doubt do nowt … well until noon on the 11th anyway !
Hexam my head is spinning… probably like everyone else’s lol. I’ve just realised that theory wouldn’t work as you can only buy back what you’ve been issued. There really isn’t any clever way around this … think I’m going to stick to my plan and sell half my rights to purchase the other half. It’s such a bloody headache
HeadingNorth actually you're spot on, I've just worked out if I sell up totally plus tail swallow half my Rights I'll end up with 90 more shares than if I just Tail swallowed my rights