RE: Anyone had this for tui shares?1 Jan 2022 10:11
Hi Upand away.
I've not received it, but i hold my shares through an execution only broker.
I'm not sure if you were seeking clarification as to it's meaning? If so.....
As everything German it uses 10,000 words when 100 will do.
But basically....
It's telling you, IF you vote on any resolution at the forthcoming AGM (8th Feb), the company will ring-fence your shares, so you can't sell them prior to AGM without advising them. If you voted and then sold (or attempted to sell) prior to AGM they would have to first dis-allow your AGM vote.
Nothing really for you to worry about, especially if you've no intention of either voting at AGM and/or selling your shares.
To me, the AGM notice is preparing the way for a further rights issue. If, all resolutions passed (likely) the company will have the authorisation to raise capital. Then the directors can invoke that raising when they wish.
Let's face it, the company is hardly flush with cash!! So, a further capital raise would not surprise me.
For the avoidance of doubt, the company are not (yet?) asking for more money, but the resolutions, if passed, will put the company in the position to do that.
Blimey, my reply is almost as wordy as TUI's AGM notice. Hopefully, mine is a bit clearer!!