SAGA Shares

notbright

Evening All. I had 540 SAGA shares I had a letter from them to say they are consolidating these to 37 to a value of £148. I can't get any reply to my email from SAGA but is this word consolidation good or not. I'm not up on this game it's something I thought I'd have a go at back in 2014. Also is there anyway I can find out past share values. I don't seem to have any information from them over the years giving this information. I tried Yahoo shares guide but can't make any sense if it. Can any of you experts help please? 

eskbanker

notbright said:

Evening All. I had 540 SAGA shares I had a letter from them to say they are consolidating these to 37 to a value of £148. I can't get any reply to my email from SAGA but is this word consolidation good or not. I'm not up on this game it's something I thought I'd have a go at back in 2014.

What did you think of the answers given when you asked about this last week?

https://forums.moneysavingexpert.com/discussion/6248280/saga-shares

notbright said:

Also is there anyway I can find out past share values. I don't seem to have any information from them over the years giving this information. I tried Yahoo shares guide but can't make any sense if it. Can any of you experts help please? 

https://uk.finance.yahoo.com/quote/SAGA.L/chart?p=SAGA.L gives a pretty straightforward chart, or https://uk.finance.yahoo.com/quote/SAGA.L/history?p=SAGA.L has the day by day prices - what are you looking for that these don't provide?  The prices are adjusted to reflect the split, so you can make meaningful like-for-like comparisons before and after it....

Thrugelmir

In summary Saga is struggling financially. Your investment has been devalued.

10 September 2020
"The Board of Saga is today proposing to raise approximately £150 million of gross proceeds, by way of a firm placing and a placing and open offer. This is underpinned by a strategic investment of up to £100 million by Sir Roger De Haan, Saga's former Chief Executive Officer and the son of the founder of the business. Sir Roger De Haan will make his investment through:

-  a firm placing of 224.4 million new ordinary shares representing 20% of the  current issued share capital of the Company, to be issued at 27p per share (the "First Firm Placing Price"), a 98% premium to the 13.61 pence closing price of Saga shares on 28 August 2020 (the "First Firm Placing"), reflecting his belief in the underlying strength of the Saga brand and business and his confidence in the new strategy under the strengthened management team, which would contribute £60.6 million of the proposed Capital Raising;

-  a further firm placing, raising £14.9 million on the same pricing as will apply to Saga shareholders who participate in the open offer (the "Second Firm Placing" and, together with the First Firm Placing, the "Firm Placing"); and

-  participating as a conditional placee for shares representing £24.5 million in the placing and open offer (expected to raise total proceeds of approximately £74.5 million), subject to clawback by Saga shareholders in the open offer (the "Placing and Open Offer").

Following the Capital Raising, a share consolidation will take place pursuant to which every 15 Ordinary Shares of 1 pence nominal value will be consolidated into 1 Consolidated Share of 15 pence nominal value.

This move is designed to ensure that Saga is well positioned to strengthen the business in the short term, against the backdrop of the COVID-19 outbreak and the continued suspension of Saga's Travel businesses, and is positioned for longer-term recovery and growth"