When is the cutoff date? Today or Monday?
Dates and times are in the IAG document. I’d suggest before the 21st as T212 haven’t made it clear if they’ll take responses right up to the cutoff time
Thanks, taking take cash and reinvest to reduce my average may be a better option, but that gamble is on price falling und 88p
If I understand it right, I can use cash from sold RI rather than use own cash to buy RI shares?
They’re your shares. If you buy them you get your shares if you sell them you get your money.
That said if you think it’s going to go under 88p I’m not sure why youd keep any of your shares if you’re looking at it as a gamble?
True said but buying for long term, so basically if i Don’t take up RI And they sell them at x price I get the cash, just not clear on if this is viewed as taxable gain
I believe it’s Sunday 20th as per note from 212
Hello. I tried to take up my rights option yesterday, but despite having the funds in my account, the link would not work. Could somebody from T212 please help urgently.
Did you try first thing today? As the deadline has now passed.
You needed free funds to take it up, that means newly added free shares that you might have sold don’t count as I understand.
Hi. Spoke to someone from T212 chat today. They said that because the market was closed yesterday, that is why I couldn’t take up my rights. But in that case, the stated deadline from T212 of 20th was wrong, and should’ve been ‘Close of market on 18th’. Not impressed with the response to be honest.
When those stocks will be transfered on our accounts?
It’s all in the IAG documentation
I had IAG rights and i did nothing. I think they were sold yesterday but i could can get the money from this selling. does anyone know when we I will get my money on my account?
thanks
Hello @ckd,
Proceeds from the sale of rights will be distributed to the eligible accounts until the end of the week.
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I have not received IAG rights which are sold by trading212 on behalf of me.
In email from trading212 says that "… your rights will be sold on 21.09 at the market and the proceeds will be distributed shortly after to your account. " on monday the IAG share was 98-95p but now its 105p. so i can not use my money to buy more IAG share cheaper.
what is the meaning of “shortly” in this case?
Is there anyone has the same issue ? What can I do at this point? any idea ?
thanks.
Why would you use the money to buy more IAG?
Shortly presumably means however long it takes for them to receive the sale and then process that out to everyone. It’s only been two day.
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?
Morning gentlemen,
Proceeds from the sale of rights were distributed to the eligible accounts - the average price at which the rights were sold is £0.1411 ( Orders were executed on 21st through 22nd due to lack of liquidity at the end of the market session on 21st). You can find a record of the transaction in your transactions tab.
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The Capital Increase was approved on 8 September 2020 at IAG’s General Meeting and each Existing Share held on the Record Date (the
date on which those persons or entities registered as shareholders become entitled to receive Subscription Rights) will entitle its holder to
one Subscription Right and 2 Subscription Rights are required to subscribe for 3 New Shares.
As per:
Meaning that if you had 3000 shares on Record Date - you receive 3000 rights, which entitles you to 4500 new shares if you wish to subscribe.
It was all really unclear peter. And in another post I asked this question and you didn’t answer directly like this. If you did i would have known it was going to be based on 1 right and not 2 rights being offered.
Hi
The same case in my right issue. I just got the money which equals 2/3 of rights.