InvestorsHub Logo
Followers 57
Posts 20043
Boards Moderated 3
Alias Born 09/23/2009

Re: None

Thursday, 09/08/2016 11:26:31 AM

Thursday, September 08, 2016 11:26:31 AM

Post# of 748
Publication of Prospectus - 31 August

Record Date for entitlements under the Open Offer - 5:00 p.m. on 30 August

Ex entitlement Date for the Open Offer - 31 August

Results of the Open Offer announced - 16 September

Admission and commencement of dealings in the New Common Shares - expected to commence on or around 14 October
Instead of all our various Brokers knowing of the Open Offer "a short time after" the announcement and quickly taking action about it, it is clearly obvious that each Brokers reaction time to instigating their own necessary administrative requirements are clearly lacking and slow.

Some Holders expected an email from the Brokers notifying them of the Open Offer while some came on here and ask, when they should have contacted their Broker or gone to their Brokers Website for information

It has also become apparent that Brokers are setting their own timelines "inside" the 31st August and the 15th September with various cut off days coming to light, with some making their own rules up as far as the Excess Allowance is concerned

While it is each Shareholders own responsibility to check for News RNS's and Corporate Actions their money is involved in, many Brokers have been slow on the admin side, haven't been very helpful with some being downright uninterested.

On the 16th Sept we get the Open Offer Results, which hopefully will contain a clear break down of the information :-
a) Amounts of Holders taking up their Entitlement
b) Total Entitlements taken up
c) Excess Shares
d) Amounts of Holders taking Excess Shares
e) Excess Shares left
f) Amounts taken by the Capital Group.

It would be nice to get a break down of the results, but I won't hold my breath

Courtesy Mikey LSE board , Thanks Man!
Abbys questions ,had 18K and wanted 100K more

It has been made easy for everyone

You apply for your Entitlement and any Excess Shares separately

18663 ÷ 9 x 20 = 41,473 (your entitlement) x 0.008314 = £344.80 + 0.5% tax and Brokers fees

You say you want a total of 100,000 more Shares 100,000 - 41,473 = 58,527

On the Excess Application column you place :-
58,527 which x 0.008312 = £486.59 + 0.5% tax and Brokers fees

You have your entitlement Shares + Excess Shares = 100,000 + existing 41,473