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Cheque Error - Wrongly Returned
Comments
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My apologies, I thought it was your choice to use a cheque.
A two week deadline and cheques seems like a recipe for disaster.0 -
The company in which I have some shares is undergoing a rights issue, so I had the opportunity to buy some shares at a discounted rate, and sell the nil paid rights for the shares I was entitled to purchase but didn't
It's my understanding that after a rights issue, any un-exercised rights get sold into the market en-masse and that the proceeds of that sale get distributed to the rights owners thereof.
Thus you should still get a chunk of money in a few months time and all that has happened is that you now own a smaller percentage of the company. No Loss.0
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