I have noticed for some time now, that during the time of a company Right Issue, the shares tend to be moving lower, and most times reaching the bottom on the last date of Acceptance.

The next day, most times bouncing back STRONGLY. A closer look also noticed that the rump of the shares left, were place at the closing price of the day before, naturally the lowest, meaning there was manipulation, Market Makers, Institution and the lot to get the RUMP of the shares at the lowest posible price.

After reaching this conclution I am trying with this thread to get information from you about any company on this circunstances at the moment, so we can find out dates and prices of those Right Issues and maybe placing aswell, and the appropiate action can be taken...... BUY the stock around the last dates of acceptance, if share price is above the R I.

Examples of shares of this happening on the past were LLOY, TW., BDEV, etc

LLOY


TW.

Number of people who have visited this thread    

Interesting thread, and probably helpful to post a chart for YELL, to follow the action.

Presumably, best to short from the date of announcement untuil just before the date, then reverse, to gain both ways?


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I reckon it will fall back to 30p Andy.

YELL
The date for X- Entitlement was 10 November 09 and money must be received by 24 November 09..........

+---------------------------------------------------------+--------------+
| Record Date for Open Offer Entitlements | 6:00 p.m. on |
| | 6 November |
+---------------------------------------------------------+--------------+
| Announcement of the proposed Capital Raising and | 10 November |
| Prospectus and Form of Proxy published | |
+---------------------------------------------------------+--------------+
| Ex-entitlement date for the Open Offer | 8:00 a.m. on |
| | 10 November |
+---------------------------------------------------------+--------------+
| Open Offer Entitlements credited to stock accounts of | 8:00 a.m. on |
| Qualifying CREST Shareholders in CREST | 11 November |
+---------------------------------------------------------+--------------+
| Recommended latest time for withdrawing Open Offer | 4:30 p.m. on |
| Entitlements from CREST | 18 November |
+---------------------------------------------------------+--------------+
| Latest time and date for depositing Open Offer | 3:00 p.m. on |
| Entitlements into CREST | 19 November |
+---------------------------------------------------------+--------------+
| Latest time and date for splitting Application Forms | 3:00 p.m. on |
| (to satisfy bona fide market claims only) | 20 November |
+---------------------------------------------------------+--------------+
| Latest time and date for receipt of completed | 11:00 a.m. |
| Application Forms and payment in full under the Open | on 24 |
| Offer and settlement of the CREST instructions (as | November |
| appropriate) | |
+---------------------------------------------------------+--------------+
| Latest time and date for receipt of Forms of Proxy and | 11:00 a.m. |
| receipt of electronic proxy appointments by registered | on 24 |
| Shareholders for the Extraordinary General Meeting | November |
+---------------------------------------------------------+--------------+
| Announcement of acceptances by Qualifying Shareholders | 25 November |
+---------------------------------------------------------+--------------+
| Placees notified of total number of New Ordinary Shares | 25 November |
| for which they are subscribing | |
+---------------------------------------------------------+--------------+
| Extraordinary General Meeting | 11:00 a.m. | on 26 | November |
+---------------------------------------------------------+--------------+
| Announcement of results of the Extraordinary General | 26 November |
| Meeting | |
+---------------------------------------------------------+--------------+
| Admission and commencement of dealings in New Ordinary | 8:00 a.m. on |
| Shares, fully paid, on the London Stock Exchange | 30 November |
+---------------------------------------------------------+--------------+
| New Ordinary Shares credited to CREST stock accounts | 8:00 a.m. on |
| (uncertificated holders only) | 30 November |
+---------------------------------------------------------+--------------+
| Despatch of definitive share certificates for the New | 7 December |
| Ordinary Shares in certificated form (to Qualifying | |
| Non-CREST Shareholders only) | |
+---------------------------------------------------------+--------------+
| Completion of the Refinancing | 30 November |
+---------------------------------------------------------+--------------+

YELL

Today at 11am was the last time for acceptance, as usual today closing price 41.74 / 41.92p was the lowest
since the shares went X-placing 10 November 09 with a closing "UT" of 42p the same as the placing price.

LLOY
Has announced the expected Right Issue today and is ..... 1.34 New Shares for every 1 Existing Ordinary Share @ 37p..........

RIGHTS ISSUE STATISTICS
+--------------------------------------------------------------+--------------------+
| Issue Price per New Share | 37 pence |
+--------------------------------------------------------------+--------------------+
| Discount of Issue Price to the Closing Price on 23 November | 59.5 per cent. |
| 2009 (being the last practicable date before the publication of this announcement) | |
+--------------------------------------------------------------+--------------------+
| Discount of Issue Price to theoretical ex-rights price based | 38.6 per cent. |
| on the Closing Price on 23 November 2009 | |
+--------------------------------------------------------------+--------------------+
| Basis of Rights Issue | 1.34 New Shares | for every 1 | Existing Ordinary | Share |
+--------------------------------------------------------------+--------------------+
| Number of Ordinary Shares in issue as at the date of this | 27,161,682,366 |
| announcement | |
+--------------------------------------------------------------+--------------------+
| Number of Ordinary Shares to be issued by Lloyds Banking | 36,505,088,579 |
| Group pursuant to the Rights Issue | |
+--------------------------------------------------------------+--------------------+
| New Shares as a percentage of Actual Enlarged Share Capital | 57.3 per cent. |
| of Lloyds Banking Group immediately following completion of | |
| the Rights Issue(1) and Share Subdivision | |
+--------------------------------------------------------------+--------------------+
| Expected gross proceeds of the Rights Issue receivable by | GBP13,506,882,774 |
| Lloyds Banking Group | |
+--------------------------------------------------------------+--------------------+
(1) On the assumption that no further Ordinary Shares are issued as a result of
the exercise of any options under any Lloyds Banking Group Employee Share Plans
between the date of this announcement and the closing of the Rights Issue.

EXPECTED TIMETABLE OF PRINCIPAL EVENTS
+--------------------------------------------------------------+-------------------+
| Record Date for entitlement under the Rights Issue for | Close of business |
| Qualifying CREST Shareholders and Qualifying Non-CREST | on 20 November |
| Shareholders and for holders of Limited Voting Shares for | 2009 |
| the LVS Capitalisation Issue | |
+--------------------------------------------------------------+-------------------+
| Announcement of Issue Price and entitlements of Qualifying | 7.00 a.m. on 24 |
| Shareholders | November 2009 |
+--------------------------------------------------------------+-------------------+
| Latest time and date for receipt of Forms of Proxy for the | 11.00 a.m. on 24 |
| General Meeting | November 2009 |
+--------------------------------------------------------------+-------------------+
| General Meeting | 11.00 a.m. on 26 | November 2009 |
+--------------------------------------------------------------+-------------------+
| LVS Record Date for entitlement under the Rights Issue for | 4.30 p.m. on 26 |
| Qualifying LV Shareholders | November 2009 |
+--------------------------------------------------------------+-------------------+
| Share Subdivision becomes effective | Close of business | on 26 November |
2009 |
+--------------------------------------------------------------+-------------------+
| Despatch of Provisional Allotment Letters (to Qualifying | 26 November 2009 |
| Non-CREST Shareholders only) | |
+--------------------------------------------------------------+-------------------+
| Start of subscription period | 26 November 2009 |
+--------------------------------------------------------------+-------------------+
| Admission | 8.00 a.m. on 27 | November 2009 |
+--------------------------------------------------------------+-------------------+
| Dealings in New Shares, nil paid, commence on the London | 8.00 a.m. on 27 |
| Stock Exchange | November 2009 |
+--------------------------------------------------------------+-------------------+
| Existing Ordinary Shares marked "ex-rights" by the London | 8.00 a.m. on 27 | November 2009 |
+--------------------------------------------------------------+-------------------+
| Nil Paid Rights credited to stock accounts in CREST | 8.00 a.m. on 27 |
| (Qualifying CREST Shareholders only) | November 2009 |
+--------------------------------------------------------------+-------------------+
| Nil Paid Rights and Fully Paid Rights enabled in CREST | 8.00 a.m. on 27 |
| | November 2009 |
+--------------------------------------------------------------+-------------------+
| Recommended latest time for requesting withdrawal of Nil | 3.00 p.m. on 4 |
| Paid Rights and Fully Paid Rights from CREST (i.e. if your | December 2009 |
| Nil Paid Rights and Fully Paid Rights are in CREST and you | |
| wish to convert them to certificated form) | |
+--------------------------------------------------------------+-------------------+
| Latest time for depositing renounced Provisional Allotment | 3.00 p.m. on 8 |
| Letters, nil or fully paid, into CREST or for | December 2009 |
| dematerialising Nil Paid Rights or Fully Paid Rights into a | |
| CREST stock account (i.e. if your Nil Paid Rights and Fully | |
| Paid Rights are represented by a Provisional Allotment | |
| Letter and you wish to convert them to uncertificated form) | |
+--------------------------------------------------------------+-------------------+
| Latest time and date for splitting Provisional Allotment | 3.00 p.m. on 9 |
| Letters, nil or fully paid | December 2009 |
+--------------------------------------------------------------+-------------------+
| Latest time and date for acceptance, payment in full and | 11.00 a.m. on 11 |
| registration or renunciation of Provisional Allotment | December 2009 |
| Letters | |
+--------------------------------------------------------------+-------------------+
| Dealings in New Shares, fully paid, commence on the London | 8.00 a.m. on 14 |
| Stock Exchange | December 2009 |
+--------------------------------------------------------------+-------------------+
| New Shares credited to CREST accounts | by 14 December |
| | 2009 |
+--------------------------------------------------------------+-------------------+
| Despatch of definitive share certificates for the New Shares | by 29 December 2009
| in certificated form |
+--------------------------------------------------------------+-------------------+

LLOY
At 11am was the last time to receive the application for the Right Issue, so being the last day and the normal thing is any rump shares not taken up will be sold to Institutions at todays closing price on Monday.

So someone ( well most likely a few - MMs, Institutions wanting to get some of the rump ) have been working hard to get the price as low as posible at closing.

After opening higher with the market, it finished well down


I bought a few just before close at 56.22p for a short term bounce, paid premium for T+10

Closing spread was 56.30 / 56.39p
The UT was at 56.22p

Lets see on Monday at what price was the rump was sold.
nice weekend

DES - open offer ............ 1 for 10 held at 70p
X - 10 December 2009
reveive of moneys by 11 am on 5 January 10

9 Dec 09 - Desire Petroleum is raising 20.3m through an open offer of up to 28,971,544 new shares at 70p apiece - a discount of 21.1% to the closing price last night (8 December).

The offer is being made on the basis of one open offer share for every 10 existing shares held.

Details of the Open Offer
Under the Open Offer, Desire intends to issue up to 28,971,544 New Ordinary
Shares, comprising 28,971,544 Open Offer Shares (representing net proceeds of
GBP19.9 million) to be made available to Qualifying Shareholders pursuant to the
Open Offer.
The Issue Price is 70 pence per New Ordinary Share.
Under the Open Offer, Qualifying Shareholders have a Basic Entitlement of one
Open Offer Share for every ten Existing Shares registered in their name on the
Record Date and are also being offered the opportunity to subscribe for New
Ordinary Shares in addition to their Basic Entitlement under the Excess
Application Facility.

Record date 8 Dec 09

Ex-entitlement date of the Open Offer 8.00 a.m. on 10 December 2009

Latest time of receipt 11 am on 5 January 10

Interesting thread and shows the manipulation taking place at the moment.

I may be corrected on prices but you can add AFR 87p (offered at 80p); BAO 5.6p (6.5p); BLNX 16.25p (18p); GFRD 299p (280p - this has fallen from the ex price of around 450P); VOG 4.90p (re: 5.4p).

GRI

Grainger rights issue has 92.69% take-up

Property firm Grainger's two-for-one rights issue had an acceptance rate of 92.69%.

The 20.3 million shares not purchased will be sold in the market by the underwriters.