@David I received an e-mail to agree to buy more shares with TED baker, which i accepted when clicking the e-mail. All that happened then Is I instead had a withdrawal of Ā£31.50 that canāt cancel.
Hope this is the right section.
A while ago I took up the Ted Baker rights issue but havenāt seen anything hit my account yet.
Did anyone else participate and if you did have you seen the shares yet?
See Regulatory News Service
Itās an open offer offer not a rights issue, but either way, 19th June is expected date of your open offer shares to arrive.
1 Like
Only called it a rights issue because that what the email said. Thanks for the expected date though
My wife recently bought shares in Ted Baker. Who was eligible for the rights offering?
Thanks for taking the time to reply.
I have not yet received the rights/open offer shares as yet. I was expecting them to appear on 19th June but they havenāt. Where are they?
We are being robbed guys.
We were supposed to get them the 19th or next working day. Now due to a delay with the intermediary, it wonāt be until the end of this week. In the mean time Ted Bakers share price is plummeting. They may be worth less than we paid by the time we get them.
Iāll have lost hundreds, others will have lost thousands.
Itās unacceptable.
Customer service from T212 had been poor. They just keep telling me there has been a delay.
@Davedave100 Thanks for the update. I have emailed support, posted here, searched on line, asked around and no one has given me an answer except you so thanks a lot.
I can accept a delay if someone informs me of it and keeps me up to date but radio silence is unacceptable (really should be proactive push from them).
I had it in my diary to sell TED on 19th but held off due to missing shares and now look at it, halved in the last few days.
Thanks again - if you hear anything else please do let me know. TY.
Hi Mike. Yeah I too intended to sell on that date. The rights option seemed a no brainier at the time.
They took our money and thenā¦ nothing.
I have asked if we will be compensated for the delay but they just avoid the question and say donāt worry, we will get the shares at the price quoted. Completely ignoring the fact that the value is diminishing with each passing day.
Iām fuming to be honest.
They canāt give me a date when weāll get them. They just said by the end of this week. I donāt feel too confident about that.
They updated this recently.
It used to say 19th or next working day.
@Davedave100 Thanks for the info. If you have the time Iād be interested to know how you got a hold of them? Was it via email or a support thread somewhere?
As I said, I can accept a mistake or delay if they PUSH the info to us on what has happened and when it will be fixed, but I am having to waste time hunting for it and been updated by you (no disrespect) instead of them.
Iāve been contacting them via the ācontact usā feature on the app.
I have to say Iām a bit confused about all this. Maybe someone can help me out:
Whatās the delay? Why?
Shares were held in Crest. Election were made in Crest. IB (intermediary) on T212 behalf would have elected and received via Crest. All electronic. All straight through. All resolved on issue date. Whoās gone wrong here?
Thatās a T212 issue and Iād imagine clients have recourse if T212 are at fault.
What I also donāt understand is why anyone surprised the price by the price going down so much. You had a company with a market cap of roughly sub Ā£50m with a share price of roughly Ā£1.05 (so about 47m shares in issue) and then you went and introduced 140m new shares at 75p - so about Ā£105m new capital. You therefore have a company worth about Ā£155m but with about 185m shares in issue ā¦ so about 84p. (wildly basic maths, I think the post dilution price was probably a little higher, but you get the point).
That said, I sympathize. This ādelayā just traps you with losses. Maybe T212 will make you whole. But Iām guessing not. Sorry
@Finki - youāre right. But on 19th June when I aimed to sell them they open/closed 105/94. Now theyāre about 82 which is a loss I shouldnāt have to take. Now of course if the price had gone up in that time I wouldnāt be complaining but it didnāt. I had it in my diary to get out of TED on 19th and have a loss as a result.
Iām not expecting compo etc my only issue is that I have had to scrabble around to try and find out what has happened to the shares I bought that I should have got on 19th and still donāt have. AFAIK itās a T212 issue but they are not replying on this thread or to emails I have sent them on this subject. As it is their issue they should be updating me and the others daily on where they are not complete radio silence.
From customer service just now:
Greetings,
Thank you for your email.
I would like to inform you that the rights issue should be completed today if no further delays are encountered.
I hope the information provided is helpful.
Not entirely clear or helpful
Would have thought a procedural deep dive and some form of apology are both needed after this
1 Like
I was wondering what was going on. I donāt expect we will every hear what the issue was
That makes no sense
Very interested how this is going to be resolved
The constant use of āRights Issueā phrase is triggering my OCD. It wasnāt a rights issue. It was an open offer and an offer for subscription. That aside, shares were issued via crest on the 19th. Elections should have been made electronically beforehand. Either they did or they didnāt elect in time. Then the out turn would have been electronic to there custodian ( I assume Interactive Brokers). No need for any conversation with Ted Baker at all. If they elected and didnāt receive shares then the call is to the Registrars. If IB made an error the call is to IB. If they didnāt elect then they should buy the shares with corporate funds and credit client accounts as itās their mistake. Either way all of this should take a few hours not days and weeks.
I could of course be entirely wrong
Still not got my shares. See if they appear Monday.
Still no response to my tickets raised with T212 on this. Only updates Iām getting is from Dave above !
Weāre working on this and we want to ask you for a bit more patience - thanks in advance, guys!
1 Like