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Hi Broomtree, my thoughts on this are firstly that not taking up the OO means no chance whereas taking it up,more chance of recovery of capital for anyone unlucky enough to have held for years, which I reckon is consensus.
Regarding the consolidation I think a higher price makes it ‘seem more investable’ going forwards and I remember segro did it years ago but as ever no one knows what the future holds.
Some recover and flourish,some languish(like hammerson) and a few fall by the wayside.
As long as there’s a yield, which it appears there is,I’m grudgingly taking up the offer with mine unless the SP totally collapses before the middle of the month! GLA
Thanks!
Offer seems popular (or is it no choice?) what’s the thoughts on the consolidation price?
Secure message re. open offer received from HL. All good.
WillLackstar, I'm with HL. I messaged them this morning and they confirmed the offer will be appearing but is not ready yet. I highlighted the EGM timing. They said, there will be a page with the open offer and a link to take up the offer.
I hold my allocation in the ISA account and that didn't seem to be a problem. Thanks to an earlier poster who said the "placing" is available.
Letter received from Jarvis with instructions. Sign, e.mail back to them, and fund ISA. Or ring and transfer allocation to normal account.
I was just searing for examples like that.
I have received the corporate action. I can confirm holdings in an ISA will allow you to fund and purchase the 10p shares in the ISA wrapper subject to having sufficient headroom in your allowance.
My account needs to have cleared funding by 14th July
Compare and contrast to an interview he did a little over a year ago https://www.youtube.com/watch?v=cU1VLBCPlSU when he was talking about the possibility of share buy-backs (!) and that they could "paydown debt at any time" and that it would be an "easy fix" and there was "no real pressure" (see interview at about 33 mins in - if you can bear it). Well done to those who saw through all of that; sadly I didn't.
I'm with HL, nothing yet.
Nothing on my HL account either yet
Nothing about the offer/placing has turned up on my HL account - anyone else had anything yet?
Or do I need to call them?
That sounds hopeful. Via chat, my broker said today or tomorrow to issue the corporate action. That should confirm.
"Ordinary Shares acquired by a UK resident individual under the Open Offer are not expected to be eligible to be held in an Individual Savings Account (“ISA”)."
This applies to the Open Offer, as it says. If you're taking up your allocation in an ISA, that's the Placing, NOT the open offer.
Inglis interview:
https://www.edisongroup.com/edison-tv/regional-reit-executive-interview-4/33771/
I meant to say, as the offer in showing in my ISA, and that is where the cash would have to come from, I presume the new shares would be staying in my ISA.
I can now see my allocation of potential new shares in my Jarvis ISA account. No further information other that what I have copied below. Being an old fashioned type of broker, I suspect Jarvis will be writing to me via Royal Mail and wanting me to copy, sign, and e.mail my intentions.
BRRGWK3 REGIONAL REIT LTD NEW ORD NPV (SUB SHS CLAIMS 21,428
Paddy519 answered my question, pretty much, also some others. Basically, I need to take up the full allocation (of "new shares"), and before doing so sell however many of existing "old" shares - even 100% - as suits my taste/needs. I understand that the non-option is to do nothing which means you are basically volunteering to get diluted even more than everyone else, for no reason.
Well nothing from by broker yet to confirm exactly the stance. Im hoping it gets sorted by end of today as the deadline is quite tight.
I think some with Interactive Investor might be getting some inside the wrapper. Maybe someone how has had a corporate action notice can confirm their brokers stance
Well done for reading that far Gerry, this is a big worry as mine are held in an ISA. Another one of my brilliant investment decisions, AEIT, went into liquidation so delisted prior to capital return. As ISAs can't hold private shares ii transferred them to a trading account so maybe HL might choose to do this in the worse case.
NAV is net asset value. The bond must be part of the liabilities.
"Ordinary Shares acquired by a UK resident individual under the Open Offer are not expected
to be eligible to be held in an Individual Savings Account (“ISA”)." page 127 of the prospectus.
I hope that isnt quite accurate but I will have to wait until my Broker put out their corporate action with the full details.
Jonathb
The offer is fully under written
Etotheipi
So valued at £647.8 million with 1,620,886,404 Ordinary Shares. So 39.97p per share possible once done with NTA per Share of 56.4. Allowing for the 40% LTV brings it to 23.98p.
So close to your 24p