How the Aryzta Rights Issue will work

Discussion in 'Investments' started by Brendan Burgess, 2 Nov 2018.

  1. Stella66

    Stella66 New Member

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    Brokers saying my fathers 1096 shares would sell for 24c each today - that’s it. I’m horrified.

    I think I’ll have to fund his taking up of rights to have any hope of seeing return of value. But it’s a risk for me. Any thoughts?
     
  2. Brendan Burgess

    Brendan Burgess Founder

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    The share price today is €1.23 so that is roughly the price they would get if you sold them.

    However, you are entitled to buy 10,960 shares at 88 cents each. That is €9,644

    When you or he takes delivery of the shares, which is probably Friday, he should be able to sell them at c. €1.23 cents each.

    So he will get €13,480 and can repay the loan to you.

    Brendan
     
  3. Brendan Burgess

    Brendan Burgess Founder

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    I wonder does he mean that you can sell the 10,960 rights for 24 cents each, not the shares.

    In which case your dad would get about €2,600 cash and still have 1,096 shares worth about €1.23 each.

    Brendan
     
  4. rob oyle

    rob oyle Frequent Poster

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    That's what I had understood when seeing the valuation mentioned... because of the unusual structure of the rights issue, people are perhaps more confused than normal this time round (as am I!).
     
  5. wheeler dealer

    wheeler dealer Registered User

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    What stockbroker is this with
     
  6. Stella66

    Stella66 New Member

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    Redmayne Bentley

    When I queried this against online share price (Yahoo) was told that price (1.21) was not available from brokers & only the 24c available.

    I’m dealing with admin person there - I had them confirm that if rights exercised he’d have 1096 + 10960 of new shares. Initially I was told 10960 only; but I queried this.

    The euro rights are not tradeable
     
  7. shan999

    shan999 Registered User

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    13
    I paid in sterling to a gb iban no,told today that sterling is not accepted,anyone can give me any advice what to do now.
     
  8. Brendan Burgess

    Brendan Burgess Founder

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    Hi Shan

    Are you with Redmayne Bentley as well?

    What did they recommend that you do?

    Brendan
     
  9. shan999

    shan999 Registered User

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    Hi brendan,i am with link assets in the uk,they informed me today by email that they would be returning my sterling,i have since got a contact with
    davy stockbrokers who is dealing with the rights,he said at this late stage he could not help me.
    I have spoken to banking 365,he suggested i go to my bank of ireland branch in the morning and see if they could do a transfer there and then.

    There was a time when i knew everyone working in my local bank,that day is gone,my local branch will not answer the phone,push 1,2,3,4,5 and so
    on.
     
  10. Brendan Burgess

    Brendan Burgess Founder

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    I met an elderly person last night who is so disappointed with her investment in Aryzta that "she does not want to throw good money after bad" by subscribing for the rights.

    There will be lots more like that.

    Brendan
     
    galwaypat likes this.
  11. Aberdeenangus

    Aberdeenangus New Member

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    This whoje thing is a disaster.couldnt get money to zurich in time.got no contact from links until friday.links say my entitlements will be sold and i will get something from that.aryzta are a disgrace considering where iaws started from.small share holders were disadvantaged.kevin toland should be ashamed of his part in this.
     
    galwaypat likes this.
  12. shan999

    shan999 Registered User

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    I think its time for small shareholders to start a class action against link/aryzta,anybody on here that would know how to start.
     
  13. wheeler dealer

    wheeler dealer Registered User

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    I am with
    I phoned ambudsman yesterday ,you must first make a complaint to link/aryzta then wait 40 days for a answer then you can make the complaint to the ambudsman .I am waiting until i meet an inlaw who would be well versed in these things to write my complaint letter but in my book aryzta are some shambles and probably only be thrown good money after bad investing any more in them anyway!!!
     
  14. Brendan Burgess

    Brendan Burgess Founder

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    Aryzta is not a financial services provider, so you cannot make a complaint against them to the Financial Services Ombudsman.

    Link are the Share Registrars? If so, then I don't think that they are regulated either.

    So it's off to the courts with you.

    Brendan
     
  15. Dannypier

    Dannypier New Member

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    This is ridiculous only got links letter in the post today, but had been trying to contact them all last week and felt like I was going around in circles nobody could help me.
    The time frame here has been too short for link. I was told today they couldn't get a stockbroker in time to act on there behalf and as it stands I'm too late to take up my rights or even sell them! So now I will end up with nothing except the diluted shareholding I owned before all of this mess.
    I rang Aryzta this evening and was told they understand the situation for link holders and are trying to resolve it so fingers crossed.
     
  16. wheeler dealer

    wheeler dealer Registered User

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    Last edited: 13 Nov 2018
    Link are regulated by the financial regulator according to girl on phone ,aryzta are not so all not lost there yet (probably though)
     
    Last edited: 13 Nov 2018
  17. shan999

    shan999 Registered User

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    Its worth noting that the majority of the small shareholders in aryzta are in ireland from the IAWS many years ago.i would hope that maybe the
    farmers journal would highlight this issue on behalf of the small shareholders
     
  18. Brendan Burgess

    Brendan Burgess Founder

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    Very good idea. Contact them as their coverage of business matters is very good. They would understand the issue.

    Brendan
     
  19. DL10000

    DL10000 New Member

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    1
    The Link mess has been reported in the Irish Times today. I suspect this will increase pressure on ARYZTA to ensure long term small shareholders are not screwed over.

    ARYZTA trading at 1.55 CHF today, so the potential loss is CHF 5.50 per original share for those who fail to exercise.
     
  20. shan999

    shan999 Registered User

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    13
    I spoke to link assets today,he told me they were still working with aryzta on this ,he was aware of the irish times article today.