RE: More chit chat...25 Oct 2020 11:55
Message from broker for information if anyone interested:
Rolls Royce has announced plans to raise £2billion through a rights issue for existing holders. Terms & Eligibility The proposed terms are 10 new shares for every 3 existing shares held at a price of 32p each. This price is a discount of 41.4% on the theoretical ex-rights price of 54.6 per ordinary share. This is based on the Closing Price of 130 pence per Existing Ordinary Share on 30 September 2020 To take part in the event, customers must hold Rolls Royce shares at close of business on the record date (23 October 2020). The Rights Issue is subject to approval by Shareholders at a General Meeting expected to be held on 27 October 2020. What does this mean for you? If you are an eligible shareholder in line with the event terms, the Nil Paid Rights will be allocated to your account as soon as practical from 28 October 2020. Once the rights are allocated on your account you will be prompted to submit an election via the Corporate Actions Section of your Smart Investor Account. Please do not contact us prior to 28 October in respect of the allocation of Nil Paid Rights. Further event information will be released on this event in due course. Full terms can be found on the company website: https://www.rolls-royce.com/investors/rights-issue.aspx