We just did.
We will not offer buying/excercising of rights after the initial offering.
Why not? All the shareholders that take up their 3 for 2 shares offer are gonna be offered (as part of exercising their rights) to buy additional shares as this is also a part of the rights issue procedure. Its clearly stated by iag, I’ve also spoken with couple of other brokers and they are gonna be doing that. Maybe you’ve misunderstood me?, because I’m sure that as a broker of shareholders in iag that are gonna participate in rights issue by buying 3 for 2 you will be able to broker and offer a sale of a certain amount of additional shares in the second stage of the procedure. I think that for many people that is a thing which will determine whether they will actually participate or not as its where the real benefit of the rights issue for a shareholder is
Can you confirm that if my rights are sold on the market I will receive the amount that reflects the actual market price of the right at the time of sale? If you’re gonna put a spread, how much is it gonna be? I hope not 4% like you put on the new shares. Thank you
Just to avoid confusion, my account will or at least should be eligible for the offering of additional discounted shares as that is actually a second part of the rights issue and every shareholder that takes up the 3 for 2 scheme will be eligible to take up more, subject to nr of remaining shares. Peter, can you please look up into that, I would appreciate it. Thanks
What do you mean by this?
The price of the discounted shares is 0.92 euros which converted to gbp is 0.84. Trading212 is offering them at 0.88.
Even I felt £0.88 was wrong, and this will have a negative effect on my Avg price.
However after checking Computershare charge with dealing fee.
Im more than happy to pay a set amount of £0.88.
1 Like
As @Cai-X mentioned(partially, check the IAG document for full details). This is not set by T212, this is the price offered by IAG.
1 Like
Hello @zdravkocempres,
Thank you for your questions.
Again, we will not be able to offer the second round of offering on the rights that were not exercised/sold.
If you wish your rights to be sold they will be on the current price at the time - no spread is applied in any way by us. This price is determined by the market, it is not 88p and you can follow it here:
can anyone help…
btw im out of my depth and am trying to get to grips with what this all means…
i have 1500 iag shares.
- would this mean should i do nothing i will receive 1500 x iagn price(72p approx) or do i need to sell for this to occur?
- buying the rights - how many can i buy of the new rights offered?
2 part b - why would i buy these? - what would you do if you were me (apart from read some more investment books and learn more)
t.i.a
I was asking the same question.
From what I understand, based on you already owning 1500 shares, you should be being offered the right to buy 2250 shares at 88p. If you do not exercise your right by the 20th Sep, they will lapse and they will be sold on 21st Sep at IAGN market price (currently sitting at 67p.) So if you didnt buy the new shares at 88p you will receive 2250 x 67p = £1507. i’m using 67p as an example. It could be more it could be less - depends what the price is on the day.
I’m in the same boat, i’m not sure if i should buy the new shares or just let them be sold on and take the cash.
I guess you would buy them because they are being offered at a discount rate and depends if you want to own more shares and your view of IAG long term.
I’m confused as to what to do as well.
1 Like
If you do nothing, T212 will excessive option 2 on your behalf and sell your rights at the market price as @DNEO91 mentions.
All of them that you’re entitled to. That is the only option that T212 are offering at the moment.
One reason would be if you want to keep the same shareholding with IAG without it being diluted.
That’s up to you. I suggest you read through the documents provided by IAG and get an understanding of what’s being offered. If your reason for buying IAG hasn’t changed then I would imagine you may be inclined to take up the offer, if your reason for holding them has changed then you can decide what’s best in that case.
Hi All
I’ve just received my proceeds from the selling of my rights issue. I own 3000 shares and was being offered the right to buy 4500. It was my understanding that if I didn’t take up the rights issue, 4500 were to be sold on 21st September. But apparently this is not the case. I’ve received proceeds for 3000 not 4500.
Did anyone else know this?
So I took up the right issue on my invest account and left the isa account. Yet to get the new shares and the right sales payment.
I’ve been out of town and still own 8K+ shares of IAGN can’t sell or buy , thoughts?
Were they not sold on IAGN which at the time fell to like 7- 10p a share.?
According to my Barclays share dealing account I still have 1086 shares that I can’t buy or sell.
