(Whitbread) rights issue

Hi,

Apologies if this isn’t 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 trading212’s shareholders?

From reading:

It appears we’ll 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 I’m stuck if they don’t?

Cheers!

:slight_smile:

Unless T212 T&Cs specifically give them a get-out on elective corporate events then I’d “assume” (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 “ex-Rights”. 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 £15. That’ll cause some pretty chunky dilution, but crude maths suggest an ex-rights price (so 26th May) of circa £24 (ish… bad maths). Last time for T212 to elect on your behalf is 9th June as Rights will “convert” to Ords. So they’ll have to message you before that (again, assuming they don’t opt-out of “voluntary” (a rights issue is a funny one as it’s component parts are technically mandatory and voluntary). I’ll be quiet. Not sure that’s helped. Let’s see what T212 do for you. I assume your shares on held with T212 as you confused me by mentioned certificates!

Thanks for the reply. :slight_smile:

I’ve had a mail from T212 saying they’ll be mailing out about the rights issue soon so all sorted.

Cheers!

Did T212 sort this?
Do T212 display your Rights in your portfolio and allow trading of the Rights?

Hi, I’ve not had an email yet.

I’ve chased it up with them to see if they’ve sent it and I’ve missed it or they’ve not sent it yet (and if so, when they will be).

I’ll post back in here when I get a response or the actual rights issue email.

Cheers!

:slight_smile:

Just for your information, I just received the following email:

‘Whitbread PLC’ has announced a rights offering.

You owned 4 stocks of ‘Whitbread PLC’ 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.

Best regards,
The Trading 212 Team

Cool
But have the made the Rights tradable by showing them in your holdings ?

I got the same email just now.

Clicking the link in the mail signs you up and takes the money from your account.

When it completes in a couple of weeks I imagine the shares will appear in your account as normal (with a much reduced average price paid :slight_smile: )

Will let you know when I know :slight_smile:

Oh, one minor point - you can’t specify how many you would like to buy as part of the scheme. It’s all or nothing it seems.