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Independent News & Media Rights Issue

  • 24-11-2009 6:41pm
    #1
    Subotai
    Registered Users, Registered Users 2 Posts: 42 ✭


    Unfortunately, i am a share holder in Independent News and Media.
    Over the last few years my investment has tanked, and the shares are now worth feck all.

    I got the letter in the post today, about the rights issue. Its 59 new shares for every 50 shares that i have, at a cost of 5 cent a share.

    My question is - is it worth taking up the rights?
    Is this company just going down the toilet.
    What do people think?:confused:


Comments

  • #2
    Smcgie
    Registered Users, Registered Users 2 Posts: 1,379 ✭✭✭Smcgie


    Subotai wrote: »
    Unfortunately, i am a share holder in Independent News and Media.
    Over the last few years my investment has tanked, and the shares are now worth feck all.

    I got the letter in the post today, about the rights issue. Its 59 new shares for every 50 shares that i have, at a cost of 5 cent a share.

    My question is - is it worth taking up the rights?
    Is this company just going down the toilet.
    What do people think?:confused:

    I have never had a RI but i would imagine that there would be money to be made from buying and selling straight away, providing the SP is above the cost of the new issued shares. I would wait for further clarification from another poster but that's what i would be thinking about.


  • #3
    Comordha
    Closed Accounts Posts: 562 ✭✭✭Comordha


    I suspect a lot of the bond holders will look for the first exit once their shares become somewhat valuable so be careful.


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