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    • JohnRo
    • By JohnRo 28th Feb 17, 1:30 PM
    • 2,608Posts
    • 2,421Thanks
    HICL infrastructure co ltd - sub shares
    • #1
    • 28th Feb 17, 1:30 PM
    HICL infrastructure co ltd - sub shares 28th Feb 17 at 1:30 PM
    This is a first for me. Can someone help me decipher this, my understanding is that there is no expiry date.

    Event Type
    Open Offer
    (Open Offer) (Ex-entitlement date: 24th February 2017) (Entitlement ratio: 1-for-22) (Subscription ratio: 1-for-1) (Subscription price: GBP1.59) (Option 1: Sub Shares to Lapse (Default)) (Option 2: Sub Shares to Exercise) (Option 3: Apply for Additional Shares) The default option will apply to all holders who do not make an election by the deadline date. HICL Infrastructure Co Ltd (HICL) has announced a proposed fundraising of GBP205 million by way of an Open Offer, Placing, Offer for Subscription and Intermediaries Offer, with the ability to increase the size of the issue to GBP260 million. Under the terms of the Open Offer entitled shareholders have been credited with 1 subscription share for every 22 existing shares held. Each subscription share entitles the holder to subscribe for 1 new share in HICL at a price of GBP1.59 per new share. The ex-entitlement date is the 24th February 2017.
    I'm presuming an exercise option returns the offered ordinary share for each sub share.

    What I'm less clear on is the default option, sub shares to lapse. That presumably retains the sub shares offered now as open ended but what implications might that have in future?
    'We don't need to be smarter than the rest; we need to be more disciplined than the rest.' - WB
Page 2
    • takesyourchances
    • By takesyourchances 6th Mar 18, 7:54 PM
    • 649 Posts
    • 414 Thanks
    That's exactly the same amount as I have decided to invest in 3i.
    Originally posted by MonroeM
    I am glad this IT was pointed out to me, 3i more suits the idea of what I would like with mix of possible growth and income.
    • takesyourchances
    • By takesyourchances 7th Mar 18, 12:03 PM
    • 649 Posts
    • 414 Thanks
    I've bought into 3i infrastructure today after looking into everything last night so hopefully this complements my first state holding in infrastructure as long term holdings
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