Fokisi
28 Mar 2018
basic questions Excuse my ignorance..."On 10 Apr, dealing in new Ordinary Shares, fully paid, commence on LSE"On 10 Apr, price of shares just purchased (from Rights Issue) at £3.15 will trade at same price of existing shares, currently trading at cc £6.70Correct? What is the generally expected price movement on 10 Apr, if any?
romaron
27 Mar 2018
BUY Not me. The acting Chairman Stuart Sinclair has though (see RNS). He bought in the window and I imagine he isn't day trading.
romaron
27 Mar 2018
Re: Nil Paid Error - the price quoted was £3.65 - 3.685
romaron
27 Mar 2018
Nil Paid Just got this price from SelfTrade dealers £3.65 - 3.85In old money that's around £9.22. In grey markets it's often the case that dealers don't like to show there hand so there will be a tighter price. My main worry was that from yesterday's one side quote the bid was £3.15 and the offer was purely a rope-a-dope price. Unless you get 2 sides you'll never know if it's 3.15-3.25 or 3.65-3.75. Unless there's radical news we'll need to wait until 9 April, or more likely a week or month ahead to get a more reliable market. Till then it's only for the professionals imo.
romaron
26 Mar 2018
Re: any idea of ex rights price may be!! I should add that the market liked the rights issue and we saw most of the shorters head for the hills or reduce. However, once you throw in the rights price it acts as a kinda anchor to the spot price. I'm thinking that once the show of loyalty post 9 April countered by the quick profit takers we could see the beginning of a steady rise.Be Lucky
romaron
26 Mar 2018
Re: any idea of ex rights price may be!! I was quoted £3.76 to sell 15 minutes ago. As it's fully underwritten there is a bid at £3.15. It's not really that surprising as there will always be sellers who want a guaranteed profit and we used to see it in privatisations. The bid is somewhere between £3.75 and £3.15. The dealers aren't usually in the business of driving trade away so the bid is relatively close to the offer (I'd imagine). If you torture any price long enough you can usually get it to where you want it (I do it with my blood pressure monitor) and I'm pretty happy with the level. Memory plays tricks and since the announcement of the rights issue the FTSE 100 is down some 4 per cent so you should factor that in too. In old money PFG is around £9 imo but there is a fair amount of wet finger in the air adjustment. The arbitragers and margin traders are clouding the issue and keeping the price down (not helped by overall market movements since February but we'll see what the blended price is on 9 April. Using £9 you would need to sell the nil paid rights at £3.21 using £6.73 the current price.If anybody gets a firm bid on the nil paid please post.
ESTABLISH THE FACTS
23 Mar 2018
Re: any idea of ex rights price may be!! I worked the price out to be £6.59, albeit that does not factor in sentiment etc. Hope that helps. Personally, I am taking up all of my rights entitlement, I feel very positive about the company.
Ripley94
22 Mar 2018
Re: Just sold out 24% fall ex rights price today 672p . rights 315p17 for 24.RNS .. 21 DEC 17 it price had been 588p 20 Dec 17 ....... 46% discount to 315.it dropped to 475 .It rebounded well ...... Woodford not so silly .
romaron
22 Mar 2018
Re: any idea of ex rights price may be!! Well done FRTEB. All we need now is the price on the 10th April and how long is a piece of string. There will be technical traders arbitraging this now but it's also an opportunity for the really important buyers to (possibly) pick up decent size within the smokescreen.Unlike some I still believe Neil Woodford is better at investing than me. His Patient Capital Trust (I'm not invested) jumped 11 per cent yesterday and I think the clue is 'Patient'. This is a company with problems for sure but it has a scale and understanding of this sector of the market that is unmatched imo. Unless the world has changed that much and a kinda Amazon can move in to take all the business then this company will be around for a long time yet.Be Lucky
FRTEB
21 Mar 2018
Re: any idea of ex rights price may be!! My theory started off as being simple but the more I try to work it out the more complicated it gets: Assume a holding of one existing share of 900p. 1 / 24 * 17 = 0.7083 new rights issue share + existing share = 1.7083 shares after rights issue. The company will have raised an additional 315p x 0.7083 = 223.11 from you. So 223.11 + existing share @ 900 = 1,123.11 divided by 1.7083 = 657.44 new share price.However, some of the £331m raised will pay off the FCA fine + costs + settlement of ~£172m so roughly only 50% of the cash raised will be added to the value of the company. On that basis: 223.11 / 2 = 111 + existing share @ 900 = 1,011 divided by 1.7083 = 591.81 new share price.Therefore the sp tomorrow should be somewhere between 590 and 660 ish. Give or take. Approximately. I'm going for a lie down.
peddlar
21 Mar 2018
any idea of ex rights price may be!! Anyone have a guesstimate.
thirty fifty twenty
20 Mar 2018
at 930p my short closed i don't know how the price will react post rights etc.....so very happy to bank a 10% short gain in the last 3 weeks.i think there are biggish risks with the business,once the FSA is involved i think there can be a long tail to the issuesand we know that there is political will to protect the consumer,(think the recent gambling legislation)especially when the 'costs' are very high.so i think growth and 'excessive' margins will be held back for a few years....that sadi i dont have a view on the value of the businessand the chart is not currently giving very clear guidance for meAll IMHO, DYOR + BoLPFG is NOT in my portfolio
romaron
20 Mar 2018
Re: New shares trade next wee Dealings in New Ordinary Shares, nil paid, commence on the London StockExchange..................................................................................................8.00 a.m. on 22 March2018*RNS Number : 0473GProvident Financial PLC27 February 2018
peddlar
16 Mar 2018
New shares trade next wee The new rights will trade on Wednesday .Woodford is stillkenn on them.I think i might pick a few if the price is right...
II Editor
13 Mar 2018
NEW ARTICLE: Neil Woodford explains his current investment strategy "Lee Wild, interactive investor:Neil Woodford, thank you very much for joining us today. You've taken some criticism for your fund's recent underperformance. How do you cope with that personally?Neil Woodford, fund manager, Woodford Investment ..."[link]
