CCU Cobar Entitlement offer

SilverSanchez

SilverSanchez

Active Member
Hi guys,

Under the renounable entitlement you are entitled to sell your entitlement or give it to someone.

I only have 3k+ shares so my 1 for 10 will be less that 400 shares.

Was wondering if anyone is not planning on taking it up and wants to be generous im very interested in getting more shares

Hobo if you know how this usually works can you help me out if someone is willing to sign over or sell their entitlement to me

Thanx guys
 
Looks like there is a trading period for them so I expect they will be listed as 'options' for that period and able to be traded. Given their execution cost and the share price, each is probably worth ~20c. You could look at it as a 2c per share dividend :)
 
Ive never traded options how does it work, whats the ticker symbol... (not just for this but I would like to buy some options for some other companies). so it may be 20c each with a strike price of 82c? yeah im pretty clueless can anyone help?
 
ok, thanx.

In the event of options in general, how do you excercise them - do the online brokers have that option to pay the strike price
 
first of the entitlement issue was traded today.

22.5c for 364 units at a cost of $81.90. + (~$30 for brokerage).

fair value would indicate it selling at 31 cents so the 8.5 cent difference saved by the purchaser takes care of brokerage at either end of the sale.

not a very buoyant market though.
 
Not a buoyant market because many of us still haven't seen them hit our accounts yet :/

</Commsec rant>
 
as an etrade user that was the other point i was going to raise.

does anybody know when we all get credited ?
 
If you contact either the company or the share reigistry that handles CCU's paperwork they will point you in the right direction. It is simple to take them up in these situations.

However, before buying any more of the rights, if they are renouncable, you need to get the paper and crayons out. Because it will generally dilute the value of all shares in the company the day the rights are actually taken up by the holders.
 
You must log in or register to reply here.
Back
Top