Jarvis Securities plc share offer - any views

Shedman

As an X-O account holder i just got an email about the Jarvis Securities share offer via Primary Bid that closes at 9pm tonight.  As X-O account holder I can apply through that account.  Seems they are selling off treasury shares at 250p (vs current share price of around 272p).  Anybody else seen this (Alexland?) and tempted for a small dabble (I'm thinking £1k-2k).  Doesn't look likely to be a big earner but maybe make a quick £70+ on a £1000 investment (or maybe hold longer term for the 4% dividend?)

underground99

I am an x-o accountholder too, though FWIW I got the offer via my primarybid account (which isn't linked to my x-o account) rather than getting it from x-o themselves. I had seen the announcement earlier today via their RNS. They haven't said what they will spend the money on but it is not a lot as they complete their capital reduction / tidyup exercise, and will perhaps increase customer engagement/ loyalty given a few rival 'free' platforms are growing in popularity with trading customers /punters.

I have some Jarvis shares in my sipp, which have done well and although I had trimmed back my holding to take some profits in December and buy something else, I don't mind adding some back unwrapped. I have space to bed-n-isa them at some point this year.

*edit, as an aside I noticed Gore Street Energy Fund is also fundraising on the platform at 102p announced yesterday, a small discount to current price. That's another one that I have in my pension and had added a small amount on Primary Bid last year before bed-n-ISAing. Don't mind putting another £1k or so into that too.

Thrugelmir

Held the shares directly for some 10 years now. Over time has been an excellent performer. Reliable income stock. When looking at the stock price there was a 1:4 split not long back.  Opportunity last March/April to buy the shares cheaply in retrospect.  

Shedman

Decided to have go for £2k worth.   Might pay for a few beers after April 12th hopefully 😅

Alexland

Shedman said:

Anybody else seen this (Alexland?) and tempted for a small dabble (I'm thinking £1k-2k).

I saw the offer but am a bit hard up after investing most of our available cash via our iWeb ISAs before the end of the tax year. Hope it goes well for you.

george4064

I have tried to subscribe to the offer but the app is super buggy, each of my applications (first one for £2,500 and second one for £2,400 after seeing first one accepted for £100 only) have been accepted but neither for the correct amount but both showing as £100 each.

No idea what’s going on and have been trying to contact PrimaryBid to rectify this. Offer closes at 9pm so I hope it gets sorted. I could either end up with £4,900 worth of shares, £200 worth of shares or if they sort this out maybe I’ll get the amount I wanted which is £2,500 worth of shares.

who knows eh?

george4064

Update: Turns out the issue was isolated to Android app users, of which I am one of them!

Ended up submitting eleven subscriptions of £100 each (the minimum), so £1,100 in total. Would have preferred more, but at least it’s not just £100 worth of shares which would’ve been very annoying as the dealing charge would be a large proportion of the £100.

Notepad_Phil

george4064 said:

Update: Turns out the issue was isolated to Android app users, of which I am one of them!

Ended up submitting eleven subscriptions of £100 each (the minimum), so £1,100 in total. Would have preferred more, but at least it’s not just £100 worth of shares which would’ve been very annoying as the dealing charge would be a large proportion of the £100.

That explains why I never received anything, I wonder why they only sent it to Android app users.

underground99

george4064 said:

Update: Turns out the issue was isolated to Android app users, of which I am one of them!

Ended up submitting eleven subscriptions of £100 each (the minimum), so £1,100 in total. Would have preferred more, but at least it’s not just £100 worth of shares which would’ve been very annoying as the dealing charge would be a large proportion of the £100.

I'm also an android app user but was able to submit successfully for both that one and Gore Street yesterday evening, both four-figure amounts.

I did find after I had put in the value and the toggle box to say I was an existing holder with x number of shares, and then went on to add payment info, when I came back from adding payment info it had 'forgotten' that I was saying I'm an existing holder and I needed to re-key that and the amount before submitting. So the app is not perfect. 

Shedman

Just in case anyone hasn't seen the allocation basis:

Jarvis Securities PLC OFFER : Basis of allocation

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The basis of allocation has been announced and applicants will receive full allocation of applications up to £9000. Applications above this amount, will receive 8% of the value above of £9000 (to the nearest share). 

Dealings in the new Ordinary Shares will commence at 8am on 5th May 2021.

The Ticker code is: JIM.L
The SEDOL code is:  BKS9NN2

Thrugelmir

I submitted applications both via Primarybid and Jarvis directly. Be interesting to see if I'm scaled back.