Xlm open offer not received

XLMEDIA PLC

As an existing holder of xlm shares I haven’t heard anything relating to their recent open offer and rights issue dated 18thMarch

The Open Offer Shares are available to Qualifying Shareholders pursuant to the Open Offer at the Issue Price of 40 pence per Open Offer Share, payable in full on acceptance. Any Open Offer Shares not subscribed for by Qualifying Shareholders will be available for subscription under the Excess Application Facility.

A Qualifying Shareholder may apply for Open Offer Shares under the Open Offer at the Issue Price on the following basis:

1 Open Offer Share for every 26 Existing Ordinary Shares

held by the Qualifying Shareholder on the Record Date

Hi @grimamin have you contacted T212 to advise them that you wish to participate in the open offer?

If not I would advise you to raise a support ticket through the web or desktop app.

The open offer is not going to be proposed until the 6th April.

Extract

“ Second Subscription Shares and the Open Offer Shares to be issued, which will be proposed at the General Meeting which is being convened for 11:00 a.m. on 6 April 2021. The Second Placing Shares, the Subscription Shares and the Open Offer Shares are not being underwritten.

The Open Offer

The Company considers it important that Shareholders have an opportunity (where it is practicable for them to do so) to participate in the fundraising and accordingly the Company is making the Open Offer to Qualifying Shareholders. The Company is proposing to raise up to £3 million (before expenses) (assuming full take up of the Open Offer) through the issue of up to 7,503,200 Open Offer Shares.”

The dates seem to indicate the closing date was 1st April for application.

Am confused as usually it is trading 212 who contact shareholders regarding the open offer and it is not down to the shareholder to contact t212 to highlight that an open offer has been put forward to shareholders?

Curious as haven’t received any notification regarding this. What is trading212 policy for applying for an open offer. Thank you

A Qualifying Shareholder may apply for Open Offer Shares under the Open Offer at the Issue Price on the following basis:

1 Open Offer Share for every 26 Existing Ordinary Shares

held by the Qualifying Shareholder on the Record Date

The Excess Application Facility enables Qualifying Shareholders to apply for Ordinary Shares in excess of their Open Offer Entitlement.

Valid applications by Qualifying Shareholders will be satisfied in full up to their Open Offer Entitlements. Applicants can apply for less or more than their entitlements under the Open Offer but the Company cannot guarantee that any application for Excess Shares under the Excess Application Facility will be satisfied as this will depend in part on the extent to which other Qualifying Shareholders apply for less than or more than their own Open Offer Entitlements. Applications made under the Excess Application Facility will be scaled back at the Company’s discretion if applications are received from Qualifying Shareholders for more than the available number of Excess Shares.

Application has been made for the Open Offer Entitlements of Qualifying CREST Shareholders to be admitted to CREST. It is expected that such Open Offer Entitlements will be credited to CREST on 19 March 2021. The Open Offer Entitlements will be enabled for settlement in CREST until 11:00 a.m. on 1 April 2021.

The latest time and date for receipt of completed Open Offer Application Forms or CREST applications and payment in respect of the Open Offer is 11:00 a.m. on 1 April 2021. The Open Offer is not being made to Overseas Shareholders.

No your right. People request and the numbers were gathered and discussed today.

Sounds like you may have unfortunately missed out on this one, hope you didn’t have a big holding.

Raise a support ticket but not sure what they could offer?

1 Like

All previous share offers with other stocks I’ve held I’ve been contacted by trade212 directly with an email with links to accept or decline an offer.

I would like to know the policy with trade212 regarding open offers and rights issues. Who needs to contact who to take up these offers.

I’ve always been contacted by my broker to take up any offer. Thought this was what trade212 do with their customers by emailing them of any current position where a rights issue/share offer is pending.

As I say I haven’t had anything from trade212 regarding the XLM offer.

Also would be interested to know how Trade212 customers go about applying for shares in an excess application (excess application facility) as I can’t say I’ve done this before with trade212.