Jump to content

Call to close on IAG - wht does this mean?


macadam

Recommended Posts

IAG went XR yesterday and I was holding stock. I now have a separate entry in my positions with call to close against it. I have 2 different entries with two different prices in different accounts. Please could someone offer explanations?

What is 'call to close"

Why are there 2 different prices?

Thankyou

Link to post
5 minutes ago, macadam said:

IAG went XR yesterday and I was holding stock. I now have a separate entry in my positions with call to close against it. I have 2 different entries with two different prices in different accounts. Please could someone offer explanations?

What is 'call to close"

Why are there 2 different prices?

Thankyou

Hi, call to close means you need to telephone to close.

Link to post

Thanks Casey. That's useful info.

But I still have further questions.

The IAG rights issue offers holders the right to buy 3 shares for every 2 they currently have, at .92 euros.

Can I take up this offer or not?

Is IG offering to buy my rights?

Link to post
1 hour ago, macadam said:

Thanks Casey. That's useful info.

But I still have further questions.

The IAG rights issue offers holders the right to buy 3 shares for every 2 they currently have, at .92 euros.

Can I take up this offer or not?

Is IG offering to buy my rights?

30m
 

!!  IAG Rights ex-date was 14th September, please only call regarding this if you wish to trade the rights

Link to post

Ah - so I can trade my rights or I can exercise my rights. If so I need to decide what is the best course of action for me.

I wonder why the price IG offers varies on different accounts? 

How do you get the best  / better price?

 

Link to post
2 minutes ago, macadam said:

Ah - so I can trade my rights or I can exercise my rights. If so I need to decide what is the best course of action for me.

I wonder why the price IG offers varies on different accounts? 

How do you get the best  / better price?

 

by different accounts do you mean share dealing and spread betting (CDF) accounts. sorry can't give answers, not my field, just relaying anything I see.

Link to post

Did anyone actually receive an e-mail about the rights issue?

Like they usually email you asking if you want to take up the rights or do nothing or trade them?

I haven't seen any email coming in and now have the rights in my account. Weird one.

Certainly would like to take up the rights. What to do?

Link to post
Guest Jonathan

hey all, 

sharing the e-mail from IG below, so we're all on the same page. Trust you heard the share was diluted by the main share holders (meaning they issues new shares)  to make the price more attractive to the constitutional buyers. in this way they raised a few billions to support the groups liquidity throughout the pandemic.

We’re writing to let you know that International Consolidated Airlines Group SA (LSE) has announced a Rights Issue, entitling shareholders to subscribe for new shares in the company.

The terms of this Rights Issue are:

- Ex-date: 14/09/2020
- Issue: Rights Issue
- Ratio: 3 new shares for 2 shares held
- Subscription price: EUR 0.92 (GBp rate will be emailed to you when we are notified by our broker)
- Trading period: 14/09/2020 to Till IG deadline
- IG deadline: To be confirmed in due course via another email

What this means for the shares you hold

You have the following options for the shares held in your account:

-Take up the rights. Please reply to this email or call our trading services team on the number below to let us know you’d like to take up the rights
-Do nothing. The rights will then lapse (this is the default)
-Trade out of the rights by calling our trading services team. You must do this during regular trading hours
 

You’ll need to make your decision by the IG deadline. If we don’t hear from you before the deadline, we will lapse your entitlement as the default course of action.

Please make sure you have the relevant available funds to take up the offer for your full allocation of shares by the IG Deadline. The Deadline will be announced in due course and to work out how much you will need on your account the equation is below

The amount of shares you are due multiply by the Subscription price.

The information in this email is preliminary and could change. If you need help or have any questions, please contact us using the details below.
 

Kind regards

IG

T 020 7896 0079
T 0800 409 6789
E helpdesk.uk@ig.com

 

 

 

Link to post

Hello, can somebody help and explain this rights issue? Is my understanding correct that if I hold 100 shares, I would be able to buy 50 shares at a pre-specified price that will be provided by IG over an email? If I accept this, I will get my average price down but ultimately I would still be worse off than where I was on Friday. 

Also, I see we can do it over the phone or reply to the email they sent me so I guess they'll execute the shares purchase etc and won't need to do anything or is that incorrect?   

Link to post
4 hours ago, DSchenk said:

Did anyone actually receive an e-mail about the rights issue?

Like they usually email you asking if you want to take up the rights or do nothing or trade them?

I haven't seen any email coming in and now have the rights in my account. Weird one.

Certainly would like to take up the rights. What to do?

I got two emails for two accounts

Link to post

The email doesn't really have much in the way of info. No deadlines dates (just says TBA, which isn't super helpful if it's soon...), doesn't have the cost per share (again, TBA). So, hard to base a decision on this (which is what the email asks you to do).

To the contributor asking about calling to close the trade and sell your rights - be aware that this will likely incur a higher broker fee. In Australia it's $50 or 0.1%, whichever is greater. 

Link to post

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • General Statistics

    • Total Topics
      15,389
    • Total Posts
      73,857
    • Total Members
      62,261
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    darrylantonio0
    Joined 12/06/21 18:09
  • Posts

    • Oh, so underlying conditions are significant now we have the vaccines, ''98% of ALL COVID-19 deaths in English hospitals were people with underlying conditions. The evening standard is trying to defend the vaccine by saying that the people who died with two doses had underlying health issues. See the problem?'' datatosee.com  @dontbetyet     MEANWHILE, - What? ''WHOA!! 73% *HIGHER* death rate in this vaccinated UK cohort compared to the unvaccinated (19/9344 vs 23/19573, p=0.07). Pause. We need more transparency on this data, not more politics with people ... misrepresenting the data.''  Dr Ah Kahn Syed @arkmedic   Also meanwhile, ''Pandemrix was pulled for causing narcolepsy in 20 in a million doses. The crude reporting rate for myocarditis is 35 per million doses for 16-17 year olds [covid vaccines] ''  Dr Clare Craig @ClareCraigPath  (Chart taken from FDA video below).        .
    • UK following the US in rewriting the rules for testing and counting the Chinese virus. Before vaccines every thing possible was done to inflate the numbers, post vaccine rollout now new rules to deflate the numbers. ''NEW: Hospitals have been told to differentiate between those actually sick with coronavirus and those who test positive while seeking treatment for something else. The move will reduce the official numbers in hospital for coronavirus Via @Independent.''  @PoliticsForAlI   Meanwhile Ferguson's fake models finally getting the sort of attention they deserve. Matt Ridley  @mattwridley: ''I was misled by Prof Neil Ferguson at a select committee hearing.'' 'Researchers at Uppsala University adapted the ICL model and on 30 April estimated that, without mitigation, Sweden’s Covid deaths would hit 96,000 by the end of May. The actual number on 1 June was just 4,403. Questioned about the disparity by Matt Ridley in the House of Lords on 2 June, Ferguson insisted: ‘they did not use our model, they didn’t adapt our model’ and ‘We had no role in parameterising it’. ICL itself tweeted sniffily on 6 May, ‘Professor Ferguson and the Imperial Covid-19 response team never estimated 40,000 or 100,000 Swedish deaths’.  In fact ICL did and the Excel spreadsheet they produced showing just that is still up on the internet for all to see. So what about Sweden, huh? | The Spectator Australia   Also,   .
    • probably missing the point, but I don't get the growth stocks (QQQ) short to hedge against correction in cyclical commodities, sorry.  NDX went nowhere since mid Feb, while oil is up 20% or so.  That doesn't mean tech is cheap, nor that QQQ would rise (again...) when cyclicals crash.  but hasn't the narrative been reflation-rotation for a while...?  if that simply unwinds - QQQ obviously will outperform.  on the other hand, in case of a general risk-off, with multiple compression in the center, you'll do very well.  Personally, I see too much risk of NDX catching up first.  next week expiry date - not that I would have much data on these things, but wouldn't be the first time that range breakouts come just in time, almost like manipulationgic...      
×
×
  • Create New...