SSPG Rights Issue

Hello,

SSP Group (£SSPG) is having a 12/25 rights issue, here is the link:

How will the Freetrade app provide this issue to shareholders?

Thanks very much

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This is disgusting… Literally loosing me money

As of 9th March 2021, Freetrade cannot support elective Corporate Action events, including Rights Issues, at this time.

Yeah they said the same thing to me when I emailed their support. I had to sell for a loss before the shares are diluted by a third. We can’t even sell for nil-paid, so it’s a lose-lose situation when it comes to corporate actions.

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Just spoke with support and they confirmed that they are unable to assist with any corporate action since 9th March. This seems to be a policy change but was in the T&Cs at least from January 16 and looking back at some of the older T&Cs as well, under section 24.1.
Due to the Covid19 situation and FT being a startup I’d expect that the manual nature of Corporate Actions was causing too much of a backlog, compared to other issues. Pre March 9th it was just fortunate that they were able to handle these manual tasks. Hopefully they will be able to develop an automated system for this in the not too distant future. I can also see that they are advertising hiring someone for performing corporate actions so I don’t think there is much hope on actioning these rights before the deadline. That is a shame and as billybongo15 and StuR have mentioned, will lead to a loss related to the dilution.