National Grid Rights Issue

gatters

I opted for the cashless take up (tail swallow) in the end. The trade date stated is 3rd June, sale price £2.057. I was deducted dealing costs of 1.5%. My new share certificate arrived today. 

On reflection, I don't regret opting for cashless take up. It does mean your outcome depends on short term market conditions whereas exercising the rights in full wouldn't have. 

alco_pop

wmb194 said:

alco_pop said:

I'm lost on this one. I'm trading 212, said I wanted to take up the option. But can't see if money was taken, put aside? Looks like nothing happened??

When I gave my instruction to take part on 27/05 the total amount was reserved by way of a, "withdrawal" on that day with the description when clicked on of, "blocked for right issue (NG)."

On 14/06 when the rights shares were received in my account there is a, "deposit." Look for a, "deposit" on c.14/06 and click on it. On mine there's a description that reads, "rights issue executed (NG)."

Unhelpfully, when I look at the history of NG. transactions the purchase of these shares isn't listed... I have the correct total number of shares, though.

I managed to find the 25.80 on 14/06. 

So was there not an option to keep the shares and buy during the split? Annoyingly I can't find the original email.

EthicsGradient

alco_pop said:

wmb194 said:

alco_pop said:

I'm lost on this one. I'm trading 212, said I wanted to take up the option. But can't see if money was taken, put aside? Looks like nothing happened??

When I gave my instruction to take part on 27/05 the total amount was reserved by way of a, "withdrawal" on that day with the description when clicked on of, "blocked for right issue (NG)."

On 14/06 when the rights shares were received in my account there is a, "deposit." Look for a, "deposit" on c.14/06 and click on it. On mine there's a description that reads, "rights issue executed (NG)."

Unhelpfully, when I look at the history of NG. transactions the purchase of these shares isn't listed... I have the correct total number of shares, though.

I managed to find the 25.80 on 14/06. 

So was there not an option to keep the shares and buy during the split? Annoyingly I can't find the original email.

If you wanted to buy even more, you would presumably do that as normal. If you mean buying more nil-paid shares rather than old 'complete' shares, I'd think that might depend on the broker - some platforms may not have wanted to set up to trade a stock only available for a couple of weeks.

wmb194

alco_pop said:

wmb194 said:

alco_pop said:

I'm lost on this one. I'm trading 212, said I wanted to take up the option. But can't see if money was taken, put aside? Looks like nothing happened??

When I gave my instruction to take part on 27/05 the total amount was reserved by way of a, "withdrawal" on that day with the description when clicked on of, "blocked for right issue (NG)."

On 14/06 when the rights shares were received in my account there is a, "deposit." Look for a, "deposit" on c.14/06 and click on it. On mine there's a description that reads, "rights issue executed (NG)."

Unhelpfully, when I look at the history of NG. transactions the purchase of these shares isn't listed... I have the correct total number of shares, though.

I managed to find the 25.80 on 14/06. 

So was there not an option to keep the shares and buy during the split? Annoyingly I can't find the original email.

I'm not clear on what you mean but to me T212 only offered two options, exercise your rights or allow them to lapse (the, "do nothing" option). I checked a couple of times but I didn't see that T212 (or Freetrade) added the rights as a separate security that could be traded.