I invested in the IPO, 33 years ago at £1.70!! Never thought, i'd have the opportunity to buy more at below that price. Amazing!! Should be able to purchase next week, i expect. It will come good, but those heady days of £12, will never be seen again.
MM's have forced price down to roughly issue price. Thus avoids any-one selling existing shares to buy the new ones. What will happen to share price afterwards??? Who knows. As jed says, not looking promising. Plus, they've decided to throw a share consolidation in the mix, to add more smoke and mirrors!!
I was advised to expect the detail today, to include brokers time-frame and what and by when we need to do. Seems quite an involved process, but some-one has to do something to justify their bill for £10M!! Seems, very expensive. Time will tell.
RE: Can anyone give me advice about averaging up?13 Sep 2020 10:32
The answer is, it all depends!! If, your 50,000 share purchase is subsequently sold at a profit, then your average of 0.179 will decrease. If sold at a loss, average will increase. At, end of the day, all depends what does (and you think will) happen to the share price. DYOR, and good luck.
Agreed. Leaving aside my modest IPO holding. Running with the offer, would give me an average of 14.6p. Pretty well, current price. So i'd be gambling that MM's are currently walking this down. Are they, aren't they!!!! Probably need a coin to toss to decide!!
This offer is a long way from being attractive. Then we have the consolidation, to further cloud the issue.
I agree with all said here. If one were a fund holder, you wouldn't be too happy, if your fund manager were paying more than needed for the sake of a week or so. I guess fund manager's take the 'public sector' view, 'it's not my money, so i'm not worried'!! Detrimentally affects their performance though.
Well, time will tell. I hope you are all correct. Saga certainly owes me. They have an ever growing market, but as yet haven't seriously tapped into it. They certainly need to spruce up their offerings to the younger end of their market.
Fair comment, and i take on board all you say. I was unaware of his home town financial bonhemie. I wouldn't be at all surprised if he takes it back under family control. There are many folks that have lost out, and he has profited, though.
Many thanks for replying, WF & TMT. Seems strange, but sobeit. No doubt, there are many underlying MM's, funds, that will already bought, and perhaps some PI's. Who'll sell into the index, and make a turn. One thing for sure, they are not getting my holding.
Whilst not unique (probably), my position here is unusual. Bought 800 IPO shares at £1.85, and promptly forgot about them. Moved house 2 months ago, and found my holding. Checked price!!!! Only lost 92% of my original investment. So, what to do....... I know, go buy loads at 15.75p, 6 weeks ago, on the basis they will cover my losses on original investment as they rise!! So, now 10% down on those too. However, here comes my white knight (AKA Robber Roger). Not only confuses us all with the over complicated offer, but also decides on a share consolidation to provide more smoke and mirrors. Whilst he makes money, it's a clever ploy to get share price back to around IPO price of £1.85, but with us all having 90% less shares. I'm likely to run taking up the offer, which will cost me c £5K, then look to sell most to recoup.
This will benefit recent buyers of the share, to the disadvantage of the LTH's. Robber Roger sold out, made a fortune, will now buy back in at a fraction of that.
Bought in here at 14.2p a couple of months ago, following DYOR. Fully understanding of all the good news, and especially the elation felt by many LTH's. One question: Surely, GDXj will have already bought most/all of their necessary holding following our inclusion. They aren't going to announce it, wait a week, then buy in at a (likely) much higher price? That wouldn't make commercial nor financial sense.