Tullow Oil - Re: TLW Stream Log - As far as I know...

As far as I know you need to be on the share register on the day they go ex-rights. So if you are a holder and you sell today you will still be entitled to the rights but if you only buy TLW today you won't because you won't be on the share register until T+2 or 2 days time. If you hold TLW shares your broker should send you info in the next few days on how to take up the rights. You usually have 3 options: Do nothing; Take up some of the rights; Take up all of the rights. If you take the 2nd or 3rd option, you then pay your broker for the amount of the rights shares you want to take up at the rights price of 130 p per share in this case. Once the take up is allotted they announce a date the rights shares and ordinary shares are all amalgamated into a new float of outstanding shares. Until then you will see 2 classes of shares for TLW in your account - ord.s and rights shares.