Our Haven
16 Apr 2018
Rights Issue 91.5% take up seems to be acceptable to the market. Must have been priced in current market conditions at around 90% take up.
kapita
07 Apr 2018
Re: ????what to do ? Rhingo. Same here, confident that it is well worthy staying in. Too good to miss.
dandigirl
07 Apr 2018
Re: ???? Sorry, I misunderstood. Thought it was a given that anyone who can would take up the RI.Having bought in the day before the RI was announced, I am happy to report that having taken up the RI, I am back in the black overall without taking into account the dividend paid yesterday. Now, I intend to wait until the 16th and review matters then.
Rhigos
07 Apr 2018
Re: ????what to do ? I too am taking up right issue in full. Nil paid rights shot up 19% on Friday. I am confident that GFRD share price will outperform over the next few months and hopefully a lot longer than that. Even if SP goes sideways yield forecast is 9.3%, covered 1.9X, seems like a very good investment to me from income point of view alone. Risk I suppose is another fixed price contract going bad.
dregor
07 Apr 2018
Re: ????what to do ? Well,I have taken up the offer and here's hoping all goes well in the future.This is certainly not a 'boring' share!
pearlsasinger
06 Apr 2018
Re: ????what to do ? NB 's position is also a reasonable bet.The only reason I ultimately settled for the cautious approachwas the confusing/contradictory signals coming from the market.Notwithstanding the fact that it seems the rights issue will be very successful-and Galliford will be free from any risk of breaching lending covenants or going into administration--the short positions disclosed- increased from 1.16% to 4.6% between 6th March and 4th April.Peel Hunt advise BUY with a target of 1620 p.(27th March)But Peel Hunt are listed as a co-underwriter of the Rights issue.We certainly will not die from boredom as investors in GFRD!
Norman Barrington
06 Apr 2018
Re: ????what to do ? To offer a different route, to prealsasinger's suggestion. Take up the offer with new money if you a) have cash and b) are not already over exposed. My reasoning being, the fall is likely at least a little overdone, and if you have sufficient faith in a recovery to take up the offer at all, then you will recover any losses more quickly with an enlarged holding.FYI I am putting my money where my mouth is. DYOR
pearlsasinger
06 Apr 2018
Re: ????what to do ? LatifeThe answer may be-(assuming you are already a holder)- to sell sufficient shares in the market to fund the taking up of your rights.I did so.At least you will not have committed any new money to this uncertain situation.
dandigirl
06 Apr 2018
Re: ???? I am waiting until the 16th and will review things then. Div. should arrive today, I think.
latife
05 Apr 2018
???? Nice rise today. But what to do???? Any more views out there?
stillere
29 Mar 2018
Re: Time to go no need forpanic. latest date for decision 10 april.next week observe, think, decide,
Norman Barrington
28 Mar 2018
Re: Time to go A simple way of looking at it, that if you take up all your rights, that will keep you with the same share % of the company, and theoretically do better should their strategy pay off. I will take up the rights since I am not overexposed to them, and suspect they will be able to get some cash off Aberdeen local govt, for delays that impacted the consortium. It's a two way street. If they succeed, even getting a modest compensation it will help sentiment. Meanwhile they have moved the goalposts on the completion of AWPR yet again ."Project Updates for the Aberdeen Western Peripheral Route ...[link] Aberdeen Western Peripheral Route /Balmedie to Tipperty (AWPR/B-T) is one of the largest infrastructure projects in Scotland. It's part of Transport Scotland's commitment to improving travel in the north east. The new road will be 58km long and is expected to open in Autumn 2018Since then they have said LATE Autumn with some interpret at Christmas!Ho Ho Ho!
Poleaxe
28 Mar 2018
Re: Time to go It's a myth that rights issues give existing holders a preferential price over anyone else buying in the market. Anyone buying today below 835p was getting a better deal than someone buying at yesterday's low of 924p. There's no 'instant gain' to be had by taking up the rights issue because:-1) The 'gain' is offset by the fall in value of the GFRD shares today as they went ex-rights2) The 'gain' is much the same as you'd get by selling your nil paid shares. i.e. the cost of taking up your rights isn't just 568p. It's 568p plus the amount you'd have received for your rights, if you didn't take them up (which currently would be about 300p).If you plan on taking up your rights in full, it makes no difference to you what price the rights are set at. If you don't take up the rights though, the lower the rights price, the more dilution you'll suffer but the more you'll receive from the lapsed rights (in other words, you've disposed of a larger stake of the company).
Andinvestor
28 Mar 2018
Re: Time to go 30% seems to be the going rate for RI. This will be a long haul back to break even unless there is a big settlement over Aberdeen.
Triggers broom
28 Mar 2018
Re: Time to go "Does the level at which they have set the price for this rights issue indicate that £5.68 is what he management consider to be fair value for these shares?"--------Fair value for the shares is the current SP plus whatever your rights are currently trading at. They've picked a price of £5.68 which they deemed attractive enough to shareholders to encourage us to buy more shares. The attraction to us is the discount to the previous SP which, all things being equal, should result in an instant gain when the new shares start trading on 16th April. I've just done a RI for JLG which was similarly discounted (29%) and the new shares are now trading at a similar profit. That's the sweetener to offset asking us to fund the business plan.FWIW I'm not going to take up all of these rights as I'm too heavy on GFRD already but I will sell enough rights to buy back a portion of my entitlement.
