National grid shares help

DUBVENDOR

https://www.investegate.co.uk/announcement/rns/national-grid--ng./7-for-24-fully-underwritten-7bn-rights-issue/8215977

DUBVENDOR

wmb194 said:

DUBVENDOR said:

wmb194 said:

bobibhai said:

My wife has shares- we knew nothing about the issue- until too late. Equiniti says it sent the usual Notice to all shareholders by email and post. My wife does not use email and we have not had anything in the, usually reliable, post. Told Equniti- then told it went to her Investments Platform and/or IFA. Platform admit receiving e mail on 24th June- did nothing until 10thJune when it is claimed they emailed her IFA-Note:-TOO LATE TO BUY THE ALLOCATION ! IFA says he has never received anything- didn't even know about NG Rights issue. So she will get her allocation at £1.90 per share default rate. No way back. Several other posters on Internet complained of not getting Notices or very late. Equiniti confirm they have had such complaints. Equiniti would not know her who IFA is anyway. So who is too blame?

When you own shares in a company it's up to the individual to keep on top of the news that relating to it.

Correct you should keep an eye on The RNS for Company you hold shares in there will be options to have these emailed out to you when they are released 

What is the RNS for listed companies?

The RNS publishes company results, share issues and any changes in a company's board of directors. These are all things which could affect a company's share price and performance on the stock market.

In this case you didn't even need to look for an RNS, it was all over the business news.

Yes was in all the mainstream press  

qbs

bobibhai said:

My wife has shares- we knew nothing about the issue- until too late. Equiniti says it sent the usual Notice to all shareholders by email and post. My wife does not use email and we have not had anything in the, usually reliable, post. Told Equniti- then told it went to her Investments Platform and/or IFA. Platform admit receiving e mail on 24th June- did nothing until 10thJune when it is claimed they emailed her IFA-Note:-TOO LATE TO BUY THE ALLOCATION ! IFA says he has never received anything- didn't even know about NG Rights issue. So she will get her allocation at £1.90 per share default rate. No way back. Several other posters on Internet complained of not getting Notices or very late. Equiniti confirm they have had such complaints. Equiniti would not know her who IFA is anyway. So who is too blame?

To paraphrase the content of one of the somewhat condescending responses to your post, when you own shares in a company, you expect the company to enact events such as rights issues using realistic timescales and to ensure that their registrar is capable of delivering the required service within that timescale. National Grid appears to have overestimated Equiniti's capabilities.

The other suggestions are farcical, unless you are an extremely active investor. Most small shareholders are not, and have the not unreasonable expectation that they will be notified in a timely fashion via the channels agreed between themselves and the registrar..
I have a considerable shareholding in NG, but rarely bother looking at the price, and have little interest in the so called "experts" reports. Along with economists, they're forever forecasting, but rarely review previous forecasts to explain why they were wrong. 

I chose the "do nothing" option for a raft of reasons - tight timescale to move required cash around, already high holding, at my age, will I benefit etc etc. Checking my bank account today, I see the cash arrived in my account this week. I wonder if/when the paperwork from Equiniti will catch up?

wmb194

qbs said:

bobibhai said:

My wife has shares- we knew nothing about the issue- until too late. Equiniti says it sent the usual Notice to all shareholders by email and post. My wife does not use email and we have not had anything in the, usually reliable, post. Told Equniti- then told it went to her Investments Platform and/or IFA. Platform admit receiving e mail on 24th June- did nothing until 10thJune when it is claimed they emailed her IFA-Note:-TOO LATE TO BUY THE ALLOCATION ! IFA says he has never received anything- didn't even know about NG Rights issue. So she will get her allocation at £1.90 per share default rate. No way back. Several other posters on Internet complained of not getting Notices or very late. Equiniti confirm they have had such complaints. Equiniti would not know her who IFA is anyway. So who is too blame?

To paraphrase the content of one of the somewhat condescending responses to your post, when you own shares in a company, you expect the company to enact events such as rights issues using realistic timescales and to ensure that their registrar is capable of delivering the required service within that timescale. National Grid appears to have overestimated Equiniti's capabilities.

The other suggestions are farcical, unless you are an extremely active investor. Most small shareholders are not, and have the not unreasonable expectation that they will be notified in a timely fashion via the channels agreed between themselves and the registrar..
I have a considerable shareholding in NG, but rarely bother looking at the price, and have little interest in the so called "experts" reports. Along with economists, they're forever forecasting, but rarely review previous forecasts to explain why they were wrong. 

I chose the "do nothing" option for a raft of reasons - tight timescale to move required cash around, already high holding, at my age, will I benefit etc etc. Checking my bank account today, I see the cash arrived in my account this week. I wonder if/when the paperwork from Equiniti will catch up?

They relied on Equiniti and the post and they failed. *shrug* It's common for companies to move very quickly with these sorts of things. If you really care about being informed then you need to make an effort to stay on top of things. To make it easier, there are third party sites that will e-mail links to company RNS' to you and you can often sign up directly with the companies themselves e.g., on National Grid's investor relations website.

https://www.nationalgrid.com/investors/news/alerts

EthicsGradient

qbs said:

I chose the "do nothing" option for a raft of reasons - tight timescale to move required cash around, already high holding, at my age, will I benefit etc etc. Checking my bank account today, I see the cash arrived in my account this week. I wonder if/when the paperwork from Equiniti will catch up?

Can I ask what was the eventual price per new share you got in the end? There was discussion about whether it was better to try and sell the nil-paid shares yourself (if you could), or to wait and get the general "do nothing" price - the vague "after costs" description from National Grid didn't help.

caper7

EthicsGradient said:

qbs said:

I chose the "do nothing" option for a raft of reasons - tight timescale to move required cash around, already high holding, at my age, will I benefit etc etc. Checking my bank account today, I see the cash arrived in my account this week. I wonder if/when the paperwork from Equiniti will catch up?

Can I ask what was the eventual price per new share you got in the end? There was discussion about whether it was better to try and sell the nil-paid shares yourself (if you could), or to wait and get the general "do nothing" price - the vague "after costs" description from National Grid didn't help.

Yes, I would really like to know too! 

wmb194

EthicsGradient said:

qbs said:

I chose the "do nothing" option for a raft of reasons - tight timescale to move required cash around, already high holding, at my age, will I benefit etc etc. Checking my bank account today, I see the cash arrived in my account this week. I wonder if/when the paperwork from Equiniti will catch up?

Can I ask what was the eventual price per new share you got in the end? There was discussion about whether it was better to try and sell the nil-paid shares yourself (if you could), or to wait and get the general "do nothing" price - the vague "after costs" description from National Grid didn't help.

For the fraction of a right I owned that was sold automatically on 04/06/24 I received 222p per nil paid right.

caper7

What fees were involved? 

wmb194

caper7 said:

What fees were involved? 

You’re asking me? None that I can see but for the time being T212 doesn’t charge any and there isn’t enough detail to tell whether National Grid / its bookrunners charged anything.

caper7

wmb194 said:

caper7 said:

What fees were involved? 

You’re asking me? None that I can see but for the time being T212 doesn’t charge any and there isn’t enough detail to tell whether National Grid / its bookrunners charged anything.

Yes, sorry, the question was for you. 
Seems I would have been better off doing nothing rather than selling the rights, I got 205p per right if I remember correctly and 1.5%fees.