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Well its a little clearer now,but i cannot help but feel shafted.I am not in a position to buy anything so that options gone.To be honest i do find this a total bind,so my gut feeling is take option 4 and hope for the best
The saying as clear as mud springs to mind lol0 -
Sorry - the end result of 3 and 4 is the same - you sell your rights and you keep the shares you've currently got. If that is what you want to do it might be better to go with the third option, although I don't know for sure.0
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Thankyou you have been very helpful,i do have a few days to digest it.Its one of those things that you really do not know what to do for the best.0
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Does anyone understand why today's share price is 246p whereas yesterday it was 65p. If consolidation is 30 to 1 then why is the price not 30 times 65p?0
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Just received my rights issue.
A.existing shares=694
b.consolidated shares=23
c.number of new shares allocated to me @£1.50 each=393
d.amount owing=£589.5
therefore value of shares prior to today was 694 x 0.65p = £451.1
value of consolidated shares today = 23 x £2.46 = 56.58 a loss of £394.52.?
Why should i buy extra shares?. Any advice please0 -
Does anyone understand why today's share price is 246p whereas yesterday it was 65p. If consolidation is 30 to 1 then why is the price not 30 times 65p?
A lot of the value is in the rights you have (approximately 17 rights per new share). If you held shares prior to today, the rights will be worth more than your current shareholding.
EDIT On further investigation it appears that the rights are separately traded under the epic code RSLN - they closed at 95p today.0 -
so turbobob would you say that if you have the money to buy the shares its worth doing ?
and when is the earliest i could sell them0 -
Thats a good question,and i will interested in the answer.Of course if you chose to do nothing,and they were sold on your behalf,that would depend on what you got for your shares......... not worked that one out yet lol.Thats assuming you are thinking of looking for a quick profit.0
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so turbobob would you say that if you have the money to buy the shares its worth doing ?
and when is the earliest i could sell them
TBH, I don't really know and I don't personally have an investment in them. There's some discussion on the III site amongst shareholders with various opinions - http://www.iii.co.uk/investment/detail?code=cotn:RSL.L&display=discussion&it=le
It is a large commitment as basically it will involve doubling your investment to take up the full rights. Its investors are mainly institutions who have always been aware they could be tapped to fund takeovers. Its what the company does - it's mainly a vehicle for taking over and consolidating insurance companies, and hoping to profit from this.
FWIW I think since it floated Resolution has not really rewarded investors as its share price has relentlessly trended down on the whole.. Historic chart adjusted for the consolidated shares below:
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Why cant things be straightforward lol.
Right if i opted for .
Take in some of your rights through cashless take up.
What could be the outcome,and where would i then be lol.0
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