(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.

Hi, this completed this morning.

Shares added to the others in my account and the average price brought right down.

Really pleased with how smoothly it’s went tbh.

Cheers.

1 Like

I missed out on buying extra shares. My husband received money from iwebsharedealing as Whitbread sold his rights (as per Whitbreads announcement) but I’ve 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 “Chat with us” tab, and explain them your issue.
I’m sure they will help.

Yes did the “Chat with us” several times but just fobbed off each time saying nothing can be done if I didn’t take the shares which isn’t 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. Didn’t even bother to look into it. Does make you realise where corners have been cut to provide a free trading platform.

Greetings,

Thank you for reaching out.

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.