72_fastback
29 Nov 2016
Re: Open offer 3.69 for 100 @ Quite right Speedo and Musker - good spot! I had only glanced at the RNS and hadn't made it as far as the extra shares blurb.I haven't heard a peep from my broker so wonder whether I am getting the same treatment as ITDYA. Will see what they say!I would have no problem taking up both my 3.69 per 100 and 2 per 1 if permitted - it seems a reasonable deal CSN have taken on and CSN has been a solid if unspectacular share for me.
In the dark yet again
29 Nov 2016
Re: Open offer 3.69 for 100 @ sorry typo 3.69 per 100 not thous
In the dark yet again
29 Nov 2016
Re: Open offer 3.69 for 100 @ Indeed but unfortunately............Me, I have some in my main dealing account and my ISA, both through Selftrade (Equiniti) so held in their nominee account. And, as is often the case, they are not offering holders of CSN the opportunity to subscribe for 'additional' shares merely the 3.69 per 1,000 in the general offer. The response I just had on the phone was (initially) no knowledge of the option to apply for more, then they would not be offering it because 'none of their customers would want it'. Pointing out that I am a customer and definitely do want the opportunity, so the statement 'none' is clearly false merely got a grunt from the other end of the phone - upshot being, after asking to speak to someone further up the food chain, that Selftrade will not be offering the option to subscribe for additional shares because they don't anticipate any significant demand from their customers.Cynic that I am, I suspect it's got much more to do with it involving extra works for them yet generating no additional income - and it's just another case of a nominee account being inferior to a direct holding.To Selftrade's credit I must admit they've been pretty good in the past, one big win was being allowed to keep the VZC 'shares' (LSE quoted CDIs to be exact) following the Vodafone 'split' a while back when several other brokers said their customers couldn't, forcing them to effectively sell day 1. There have been a few others as well so overall pretty good.Selftrade have been informed that I will be passing the matter on the the FCA but they didn't sound particularly scared - can't say I blame them since there will be no come back, not directly on this one anyway. All I can ask is that, if your broker doesn't offer you the full set of options outlined in the prospectus, please ping off a simple email or letter to the FCA registering your dissatisfaction - not worth a full blooded formal complaint but it's only by weight of numbers that is there any hope of pressure being applied. Even if you weren't intending to apply for extra share, go on, please....Nominee accounts work for benefit of the brokers not a shareholder like me. The only benefit I get is low dealing cost, well lower than they are likely to be otherwise. Now if they were to pay me to have my shares in their account so they could generate stock lending income (which they do) maybe it wouldn't be so bad..... otherwise this is just another example of nominee accounts often not being fully fit for purpose.Regards,ITDYA thinking nothing much will change anytime soon since the current nominee systems is very much in favour of the brokers who have a significant vested interest in preserving the status quo while having much better connections and a louder voice than me.
musker ron
29 Nov 2016
Re: Open offer 3.69 for 100 @ Medway ManItem 8 Structure of Issue'of 3.69 New Ordinary Shares for every 100 Existing Ordinary Shares ("Basic Open Offer Entitlement"
. Qualifying Shareholders are also being given the opportunity, provided they take up their Open Offer Entitlements in full, to apply for Excess Shares through the Excess Application Facility up to a maximum number of Excess Shares equal to two times the number of Existing Ordinary Shares held in such Qualifying Shareholder's name as at the Record Date ("Excess Open Offer Entitlement".'
Medway Man
29 Nov 2016
Re: Open offer 3.69 for 100 @ Can you direct me to where in the prospectus you have read about getting additional multiples of 2 shares at £3 each etc?I would guess that if the offer is not oversubscribed (so allocation is scaled down regardless), that it will be taken in full.....so no additional shares at £3 available.I must say I have now sold my holding in last few days to take profit, but I plan to take up my 295 shares offer shares and rebuild my Chesnara holding from there.
musker ron
29 Nov 2016
Re: Open offer 3.69 for 100 @ I agree Speedo. I intend to double my shareholding with this offer having took profits a few weeks ago at a higher price. Failure to take advantage does mean dilution of current holdings.
Speedo Boy
29 Nov 2016
Re: Open offer 3.69 for 100 @ Hi, My understanding is that you can also apply for 2 "offer" shares for every ordinary share you hold, so you could effectively more than double your holding at £3 per share.I will certainly take up my full entitlement of the 3.69 shares as this is only a couple of hundred at £3 each, I'm not so sure about substantially increasing my holding at this price however, I have been a holder for over 5 years and am now getting over 12% yield on my initial purchases.I know this isn't normally a busy discussion board but I wonder what other peoples take on it is?.
72_fastback
26 Nov 2016
Re: Open offer 3.69 for 100 @ CSN is buying some Dutch bits of L&G. Seems like a good deal - solvency ratio of 219%, some indemnity from L&G etcBut 3.69 for every 100 hardly seems worth the effort & expense!
budu
26 Nov 2016
Open offer 3.69 for 100 @£3 per share Just got a broker's letter about this. What accounts for the offer?
budu
28 Oct 2016
Re: 6.2% About the same now, 7 months later, though the price has fluctuated madly. Is the time ripe for another punt?
musker ron
04 Jul 2016
Norway Central Bank Interesting that the bank has upped its stake by around 50%. Shows confidence in the C
Eggbaconandbubble
27 Jun 2016
Re: 6.2% 7.59%!
Warren Buffoon
31 Mar 2016
6.2% 6.2% dividend yield.S'ok with me ............
Spain Fund
09 Mar 2016
Re: Back in @ 288.75 back out again - taking profits these days - add to my Chesnara total
Guitarsolo
09 Mar 2016
Re: Back in @ 288.75 I've read the FCA's statement (see [link] Now, the hawks will say this has the hallmarks of a PPI style investigation and economic result. That's true, but not necessarily. Firstly, it is limited to 2008 onwards. I don't know how many policies Chesnara/ Countrywide was paying up or closing at the time. The FCA refer to good and poor practices so not the same as PPI which was an outright stitch up of the customer by the banks. As has been noted elsewhere, the other affected companies (including Old Mutual, Abbey Life (now Santander?), Prudential, Scottish Widows (now Aviva), and the police mutual!) haven't seen their share price move. Overall, this has introduced an element of risk to CSN which will act as a drag to the share price. That doesn't overly bother me as it gives opportunity to add. In the meantime, there is no reason to think the company's performance or dividend will be affected. Needless to say, a whiff of the FCA sanctioning CSN or opening the floodgates to claims, or CSN making any provision for it, will pulverise the share price and then the divi will be cut to pay for it. But that is a long, long way off and may never happen at all. I will remain with CSN and may even add to my position. But I'm not going to put too many eggs in this basket just in case. Guitarsolo
