Glad I sold my stock when I did. It’s going down and down!
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I’m still very bullish on these mid-term and have no intentions of selling any shares until at least 2025, I have just used the recent slide to get my average down.
Big day tomorrow with the first quarter results coming out. Analyst estimates vary between 1109-1200 for wholesales, and £207m - £230m net revenue.
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It will be very interesting to see how the market digests that news this morning alongside Q1 results, which were largely in line with expectations.
Could be a good time to buy some?
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I’m still reasonably new to investing, and I only own Aston Martin shares through freetrade, so I was wondering, would I be eligible to take part in the rights issue? If so how do I go about it?
I thought I’d post this in its own thread, in case anyone who has the answer may have missed my question on the Aston Martin thread.
I was wondering, how will the upcoming rights issue work? Will all current shareholders including myself be able to purchase additional shares as so to not dilute my current holding? If so how do I go about buying them?
Quick run down:
For the specifics associated with the AML rights issue you need to look at the details that AML has announced/will announce.
However, you should ping support and ask them whether you will be able to participate in the issue because: r.e Elective Corporate Action Events | Support. Fret not, you will almost certainly get the value of the lapsed rights in cash.
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Thanks for the link, I already understood most of that to be the case, and I’ve already decided before posting that I’d like to take up the option (if possible).
However I only own any shares through Freetrade so wouldn’t have any idea how to go about it?
Is why I posted you a Freetrade link to look at which tells you what Freetrade’s position is. Suggested you contact Freetrade support to confirm and gave you my opinion that Freetrade will give you the lapsed rights (i.e cash and no shares).
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Thanks again.
Will take your advice and contact support.
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Half year report from Aston Martin @Dav1d
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David, Im no expert but from snippets i have read from various scources, we would have to wait for the offer to be made through FT, all shareholders should be able to buy the amount of shares they are entitled to buy at the offer price of 1.03 per share. Hopefully we will hear from FT very soon with regard to the offer.
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David, I have just heard back from FT. Although we are the rightful owner of the shares bought through FT, the Custodian holds the rights in their name.
Therefore we cant take advantage of those rights to buy the 4-1 shares at 1.03. FT have said they are not operationally set up to support Rights issues,open offers and similar events which involve subscribing to more shares.
Like many others i am vey disappointed, the custodian is free to take advantage of the full Rights of every share held through FT. Not only that but free to sell them to us as customers at the full market value whatever that might be.
I am incredibly disappointed at missing out on these rights.
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I’m fairly sure that’s not what will happen. The issue for Freetrade is being able to tie the corporate action to your account because they’re held in custody. The custodian isn’t ‘doing’ anything.
Hi Neil, It was how i read it from what I was told, that a custodian buys and holds the shares in their name and whoever buys via FT it the rightful owner of the security but the named custodian still holds in their name and in turn would receive the Rights.
Maybe it wouldnt happen, bu i still ss no reason why the shares couldnt be purchased by the custodian for any AM shareholder who wants to take the offer and so limit their loss after the announcment and subsequent drop in value. FT, have said they dont have systems in place, however its my opinion that is the sort of system that should be in place to protect customers.
Its all part of owning stocks and shares, this could very well occur with any other company that want to raise capital, especially in the current climate. So Rights might turn out to be a very important part of it, to protect holders against price drops caused.
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Elective corporate actions will be added but given the age of Freetrade they’re building out many of these services from scratch.
The difficulty is between linking your shares held in custody & your brokerage account.
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Totally appreciate that Neil and over the last year I have been more than happy as have many others.
However, people are risking their money and therefore these systems should be in place to protect everyone. When large sums of peoples money are at stake you have to be responsible and have systems in place, not just add them ad hoc.
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