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Aryzta

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  • Options
    #32
    michael garde
    Registered Users Posts: 4 ✭michael garde


    Brendan Burgess has a good outline on aryzta on ASKABOUTMONEY,this was posted today.
    Still a bit confused,but will probably take up new shares


  • Options
    #33
    littlevillage
    Registered Users Posts: 2,845 ✭✭✭littlevillage


    michael garde wrote: »
    Brendan Burgess has a good outline on aryzta on ASKABOUTMONEY,this was posted today.
    Still a bit confused,but will probably take up new shares

    Thanks for mentioning the ASKABOUTMONEY thread.

    I posted an update there.

    1 CHF = 0.87 Euro


    Soo if you had 1 Aryzta Share your hypothetical 10 new shares would cost something like €8.70


    Using the closing SP today in Dublin of €6.60, by my calculations the Arytza SP will be about €1.39 after the rights issue


    (Pre Rights SP + €8.70) / 11 = Ex Rights SP
    (€6.60 + €8.70) / 11 = €1.39



    .....and of course this is where the win, lose or draw comes in.

    You are actually only going to know on 19th Nov, if the purchase of the new rights Shares was worth it. By re-running the above Calculation again. This time already knowing the Ex Rights SP from the Stock Market that day to tell you if it was wise or not to sell at whatever Pre Rights Price you could have got on or before 7th Nov


    I'll probably go for the new shares too. I have already lost a couple of Thousand on them in the last year, whats a few hundred more ? :rolleyes:


  • Options
    #34
    irish_major
    Registered Users Posts: 525 ✭✭✭irish_major


    Am I reading it properly? Down 77% today?


  • Options
    #35
    TaxPro
    Registered Users Posts: 33 ✭TaxPro


    irish_major wrote: »
    Am I reading it properly? Down 77% today?

    Yes you're reading it correctly and this is entirely expected when a rights issue of this magnitude is effected. What's being quoted now is the ex-rights price, i.e. the value of the rights which have just been issued is not included.


  • Options
    #36
    irish_major
    Registered Users Posts: 525 ✭✭✭irish_major


    TaxPro wrote: »
    Yes you're reading it correctly and this is entirely expected when a rights issue of this magnitude is effected. What's being quoted now is the ex-rights price, i.e. the value of the rights which have just been issued is not included.

    Ah yes. Would it be a good time to buy I wonder?


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  • Options
    #37
    littlevillage
    Registered Users Posts: 2,845 ✭✭✭littlevillage


    Read my previous post. For existing shareholders anything above €1.39 and you're making money.

    As regards a new buyer, hard to say. Maybe watch the market for a few days.


  • Options
    #38
    Bandana boy
    Registered Users Posts: 4,325 ✭✭✭Bandana boy


    I am still a little lost
    Was expecting i would have been contacted by DEGIRO by now

    Can someone explain what happens if you do nothing ? And will Degiro contact me and offer a way to buy the new share ?


  • Options
    #39
    cute geoge
    Registered Users Posts: 2,880 ✭✭✭cute geoge


    I own shares in aryzta by way of cdi held in nominee account ,i have got no details of this rights issue ,what can i do to participate .Is time running out to participate


  • Options
    #40
    cute geoge
    Registered Users Posts: 2,880 ✭✭✭cute geoge


    TaxPro wrote: »
    I'm also an owner of ARYZTA shares and want to understand what my options are now. Am I correct in saying it's one of three options in order not to lose 90% of the value of my current holding?

    1. Exercise the rights
    2. Sell the shares (before they become ex-rights)
    3. Sell the rights but keep the original shares?

    It's that last one I'm not so sure about - is that an option? Can you sell a right?

    It is a living nightmare for small shareholders and they probably will be all wiped out by monday .A bit of info over in ask about for anyone in trouble


  • Options
    #41
    Shauny2010
    Closed Accounts Posts: 657 ✭✭✭Shauny2010


    This cash call to the market has really wiped out investors here. The timeline for the share options was very short and it looks like the Irish investors could not sell their options either. Its poor form and doesn't inspire confidence in the management.
    I can't see the share price holding, and when the dust settles it could be around €0.65-€0.90.


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  • Options
    #42
    TaxPro
    Registered Users Posts: 33 ✭TaxPro


    DeGiro have issued their email this morning to shareholders on their options for the rights issue. You can either subscribe for the shares or not (no possibility of selling rights).

    But you have until 12:00 CET (11am Irish time) today to respond if you want to exercise - so act NOW or you will default to losing your rights.

    I hold shares traded on the Irish stock exchange so perhaps am in a minority (maybe the Swiss shareholders were given some more time), but seems a bit poor from DeGiro to leave such little time for action.


  • Options
    #43
    Shauny2010
    Closed Accounts Posts: 657 ✭✭✭Shauny2010


    If I was a shareholder and not in a position to exercise the stock options I'd be fair pissed now.
    A phone call to the financial regulator wouldn't go amiss now or are they gone back to sleep again?


  • Options
    #44
    i71jskz5xu42pb
    Closed Accounts Posts: 1,806 ✭✭✭i71jskz5xu42pb


    TaxPro wrote: »
    I hold shares traded on the Irish stock exchange so perhaps am in a minority (maybe the Swiss shareholders were given some more time), but seems a bit poor from DeGiro to leave such little time for action.

    I'd emailed the Corporate Actions Ireland email address on Friday afternoon to see what was going on. I got the same email as you, 8:45 this morning with a deadline to respond by 11:00. Really poor from Degiro.


  • Options
    #45
    littlevillage
    Registered Users Posts: 2,845 ✭✭✭littlevillage


    I used Davy stockbrokers today to exercise my options. They gave a deadline of COB today. Soo not sure why Degiro are soo perscriptive with an 11am cutoff?


  • Options
    #46
    nim1bdeh38l2cw
    Closed Accounts Posts: 689 ✭✭✭nim1bdeh38l2cw


    https://www.irishtimes.com/business/agribusiness-and-food/aryzta-investors-lose-90-of-stake-in-business-1.3696898


  • Options
    #47
    i71jskz5xu42pb
    Closed Accounts Posts: 1,806 ✭✭✭i71jskz5xu42pb


    Kase Better Teammate wrote: »
    https://www.irishtimes.com/business/agribusiness-and-food/aryzta-investors-lose-90-of-stake-in-business-1.3696898

    Mind boggles as to what Aryzta were trying to do here. Surely if they are doing a rights issues they want people to take up those rights and get the money in? I'm not in the group mentioned in the article but nonetheless didn't get funds to Degiro in time to avail of the rights issue. Might be a blessing in disguise, could be good money after bad.


  • Options
    #48
    TaxPro
    Registered Users Posts: 33 ✭TaxPro


    Nathanael Elegant Blonde wrote: »
    Mind boggles as to what Aryzta were trying to do here. Surely if they are doing a rights issues they want people to take up those rights and get the money in? I'm not in the group mentioned in the article but nonetheless didn't get funds to Degiro in time to avail of the rights issue. Might be a blessing in disguise, could be good money after bad.

    From Aryzta's perspective they were going to get the money in regardless as it was underwritten by the banks, i.e. if someone doesn't take up or sell their rights, the banks would exercise them. It was presumably those underwriting banks which demanded a hefty 10 for 1 rights issue as they feared such a weak company would struggle to get enough interest, and didn't want to be left with a whole load of Aryzta shares.

    There is a separate issue with the brokers themselves responsible for allowing shareholders to exercise their rights, which is outside the control of Aryzta. The peculiar setup of owning EUR shares on the Irish stock exchange but exercising CHF rights to acquire shares on the Swiss stock exchange, all through a UK broker (Link), may have been too much to handle.


  • Options
    #49
    cute geoge
    Registered Users Posts: 2,880 ✭✭✭cute geoge


    TaxPro wrote: »
    From Aryzta's perspective they were going to get the money in regardless as it was underwritten by the banks, i.e. if someone doesn't take up or sell their rights, the banks would exercise them. It was presumably those underwriting banks which demanded a hefty 10 for 1 rights issue as they feared such a weak company would struggle to get enough interest, and didn't want to be left with a whole load of Aryzta shares.

    There is a separate issue with the brokers themselves responsible for allowing shareholders to exercise their rights, which is outside the control of Aryzta. The peculiar setup of owning EUR shares on the Irish stock exchange but exercising CHF rights to acquire shares on the Swiss stock exchange, all through a UK broker (Link), may have been too much to handle.

    It is game over so for all the small irish shareholder ,notified on tuesday that they could buy rights,but the cut off date was the previous monday at 10am .Surely LINK (the broker) has a case to answer to the financial regulator or has the regulator gone back to sleep again


  • Options
    #50
    TaxPro
    Registered Users Posts: 33 ✭TaxPro


    cute geoge wrote: »
    It is game over so for all the small irish shareholder ,notified on tuesday that they could buy rights,but the cut off date was the previous monday at 10am .Surely LINK (the broker) has a case to answer to the financial regulator or has the regulator gone back to sleep again

    Someone over in the Askaboutmoney thread said they contacted Aryzta regarding the LINK issue and they said they were trying to resolve it so there may still be hope for those shareholders (maybe not DeGiro shareholders though)


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