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@hippy
I've got shares in a company in my SIPP thingie and they're doing something...
Option 1: Rights to Lapse (Default)
Option 2: Rights to Exercise
Option 3: Apply for Additional Shares
The default option will apply to all Holders whose instructions are not received by the deadline date.
X have announced a Rights Issue whereby Shareholders have been issued with 1 right for every 15 NPV shares held. The ex-entitlement date is 16th August 2022.
Each right entitles the holder to subscribe for 1 new NPV share in X at a subscription price of £x per new share.
Holders may also subscribe for additional shares in excess of their basic entitlement. We have been informed that shareholders may only apply for additional shares up to 100% of their full entitlement.
Shareholders may only elect to subscribe for additional shares if they have exercised all of their rights. Excess elections may be subject to a scaling back.
Shareholders who wish to participate in this Offer should note we may be required to forward the beneficial holders' name, registered address and holding as of record date. With your instruction you are confirming that you are aware of the official restrictions and giving consent for us to forward the abovenamed details to our custodian if they are required.
Please ensure you have cleared funds in your account by our deadline date. Subscribing Holders will be credited with their new shares on or shortly after 13th September 2022.
It is the responsibility of any person wishing to subscribe for new shares to inform themselves and observe any applicable regulations of the relevant jurisdiction. With your instruction you are confirming that you are eligible to participate and are aware of the official restrictions.