Rights issues Problem/Solution

Greencoat UK Wind PLC/Funds has announced a rights offering.
You owned xxxx stocks of Greencoat UK Wind PLC/Funds on 02.11.2021.

Problem: Just received this in an email and deposited enough funds to cover the cost of the rights issue. Account funds cleared but when i clicked on the email link it reported that there were insufficient funds.

Solution: These shares had been sold and the cash transferred from invest to isa account where they had been re-bought after the rights issues on the 2nd. The cleared funds that had been deposited into the isa needed to be transferred back to the invest account. Then the email link allowed me to subscribed to the rights issue.

@T212_help i’m assuming that as I cant do share transfers between the platforms and I had to subscribe to this on my invest account then that is where the shares will be placed?
I know it wont be a common occurrence but could some look at adding the ability to place shares into a different area of an account if they are sold after the rights issue and re bought on another account area?

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132p each……… bargain :upside_down_face:

Company`s objectives are what sold it for me, plus if anyone ever asks i can point to this and show my green “credentials” :wink: :sweat_smile:

Are they not simply issuing new shares at or around NAV/current market price, nothing wrong with that if they have identified opportunities out there in the market.

Their offering 1 share for every 13 held on 02/11/21 for 132p, so its a few pence below current prices. Its nothing major but it all helps. The price is pretty consistent but it does seem to enjoy bouncing between 130-140p recently.
I was hopping the government might have given it a little bit of extra input either in the budget or as a result of COP26 but that doesn’t seem to have translated over to the industry.
Still boring is good, I like boring investments .

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Yeah I was thinking of monitoring the premium / discount for a timely buy to start a dividend pie.

The next dividend payment is 26 Nov (about 1.7p i think) I might buy more after then if the SP drop is much greater than that. Also RPI is forecast at 4.2% for 2022 which I hope will at least keep the value equal to current price in real terms for next year.

You know the share price typically drops on ex div date rather than pay date, being the 11th November, payable 26th?

Very true im not sure why morning me decided it was the other way around :pleading_face:

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