Apologies if this isnāt the right sub forum for this.
Whitbread have offered a 1 for 2 rights issue. Does anyone know if / when this will be offered to trading212ās shareholders?
From reading:
It appears weāll be getting an email soon? The thread above is 6 months old. Are they still handled by email? I sent a query concerning getting my share certificates from trading212 yesterday and was told they cannot do them during the virus crisis so it appears Iām stuck if they donāt?
Unless T212 T&Cs specifically give them a get-out on elective corporate events then Iād āassumeā (might be wrong) they will have to contact you shortly. Nil Paids looks like they will be credited 26th May and the current Ordinary line will go āex-Rightsā. At some point then T212 will either have to allow you to sell them or allow you to elect (somehow) to take up the rights. Looks like the rights are deeply discounted at Ā£15. Thatāll cause some pretty chunky dilution, but crude maths suggest an ex-rights price (so 26th May) of circa Ā£24 (ishā¦ bad maths). Last time for T212 to elect on your behalf is 9th June as Rights will āconvertā to Ords. So theyāll have to message you before that (again, assuming they donāt opt-out of āvoluntaryā (a rights issue is a funny one as itās component parts are technically mandatory and voluntary). Iāll be quiet. Not sure thatās helped. Letās see what T212 do for you. I assume your shares on held with T212 as you confused me by mentioned certificates!
Just for your information, I just received the following email:
āWhitbread PLCā has announced a rights offering.
You owned 4 stocks of āWhitbread PLCā on 25/05/2020.
For every 2 stocks you held on that date, you are offered another 1 on a preferential price of 1500 GBX each. This entitles you to buy 2 additional stocks on a total price of 30 GBP [until 05/06/2020]
To subscribe to the rights issue in full simply click [here]. Please make sure you have sufficient funds to place the order.
I missed out on buying extra shares. My husband received money from iwebsharedealing as Whitbread sold his rights (as per Whitbreads announcement) but Iāve not received anything from T212 and conflicting with what Whitbread said they said I will receive nothing. Did anyone receive payment for lapsed rights?
If I were in your shoes, I would send them an email to info@trading212.com or contact them via the app in the āChat with usā tab, and explain them your issue.
Iām sure they will help.
Yes did the āChat with usā several times but just fobbed off each time saying nothing can be done if I didnāt take the shares which isnāt true. Got a reply this morning to my email complaint saying simply, different brokers deal with issues in different ways and closing down the complaint. Didnāt even bother to look into it. Does make you realise where corners have been cut to provide a free trading platform.
We are sorry to hear that you are dissatisfied with how the Rights issue was handled, Please bear in mind that every broker retains the right to handle such corporate events at his discretion.
We do understand that the current situation might have not to lead to the optimal outcome, please bear in mind that even if we try to handle such events in the most satisfactory ways possible we are bound by regulatory requirements leaving a possibility of dissatisfied parties in the process.
