Geoffrey Lowndes
28 Feb 2017
Help please on Rights issue My broker did not pass on anything about the rights issue, so I did nothing.I now have received a quarter of the number of the shares on my account priced at £2.52 each.So at present, I am down about 9% since this rights issue started.Could someone tell me pIease whether I should be awaiting a cheque for the difference, or suing my broker?.Help most gratefully asked.Regards, Geoff.
sharegardener
14 Feb 2017
Re: ex rights date The company has the TERP as 980!From the RNS of 9th Feb:''The issue price of 665 pence per share represents:• a discount of 37.2 per cent. to the middle market closing price of 1,059 pence per Ordinary Share on 8 February 2017, being the last business day before the announcement of the Rights Issue; and• a 32.2 per cent. discount to the theoretical ex-rights price of 980 pence on that closing price.''I suppose the question is whether Letica represents good value in USDollars, though its future earnings will also be in USD. There may well be uncertainty around US protectionism and foreign takeovers!RPC have so far done well with their acquisitions which have increased market share, geographical footprint and given economies of scale on feedstock purchases. It looks like getting a foothold into America gives more growth potential and at least superficially, Letica looks to be a good fit with a wide customer base and useful IP. The presentation gives the impression that their due diligence has been detailed.I will take up the rights and perhaps pick up some more if SP comes down to 850-900.Good luck all SG
72_fastback
14 Feb 2017
Re: Letica acquisition I would hazard a guess that a fair bit of the downward pressure on the share price has been institutional investors taking some profit (after a great run for RPC) to pay for the rights issue and ensure that they are not unduly overweight RPC.
Clued-in
13 Feb 2017
Re: ex rights date TERP is circa 930p so not holding up so well !! £6.65 x 1 + £9.88 x 4 price pre-rights is £9.30 so buying now is better than the TERP.
Ripley94
13 Feb 2017
Re: ex rights date Holding up well seeing the rights price was 665p ( mid today 907 p )
BouleVersee
13 Feb 2017
Re: Letica acquisition Being blissfully unaware of a pending rights issue (not having heard from any of the various brokers where the family holds RPC in ISAs) I topped up my children's holdings in RPC on Friday morning. The quote didn't say they were ex-rights but it would appear that they were. They have only been allotted rights on the original holding, according to the message in their accounts later in the day. Having paid £9.28 and £9.32 I am a bit miffed as they are now £9.08. I hold some in certificated form and only had the notification from Equiniti (in such tiny print I had difficulty reading it with a magnifying glass) in the post on Saturday. Can someone explain how the rights can start trading at 8 am on Friiday when people haven't yet been informed they have any? Shouldn't the price quotes from the brokers show that they are ex-rights if they are? And why is the price continuing to fall? I would not have bought on Friday if I had known. Presumably they have been ex-rights since Feb. 7 but The Times doesn't indicate this. Is this the norm for rights issues? I don't recall similar situations in the past. It will teach me to go onto the company website and read RSNs before buying shares in future.
Clued-in
13 Feb 2017
Re: ex rights date-apologies Apologies all, I read about the TERP on an article on Friday and thought the ex-rights date was on the Thurs. The article even gave the fall from circa 1060p to 980p as a fall due to going ex-rights. Not sure why investors would be in shock due to this event as US looks to be in great shape and an independently-owned and run co won't be affected by Trump's in progress tax reform (in Congress) re import costs not being tax deductable but exports being tax free. The ex-rights date was 10th Feb, apologies all.Anyone know why sp is down again today ? Peel Hunt have an adjusted, after the ex-rights date, sp target of 1135p and a BUY today so can't understaund why people are selling except maybe to invest in commodities and financials instead ?
jake_walker
11 Feb 2017
Re: ex rights date Careful - you might be accused of pushing your own holdings.
Simbrad
02 Jun 2016
Panmure's note from this morning: "RPC, the international plastics products design and engineering group, has delivered a strong set of FY16 results (EBITDA +34%, EPS +14%). Growth has been driven by the full year effect of acquisitions and organic growth (packaging division +4% LFL). The GCS acquisition (completed 31 March) has been quickly integrated into the group and management has raised combined Promen/GCS cost synergies from €65m to €80m..." From Research Tree
