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I think what sureesh40 meant is if you buy the mother share now, you will not be entitled to any more rights. However you can still buy more rights from the market during the rights trading period, which is 23 Sep to 1 Oct. You can buy as many rights as you want, and then pay $0.155 each to convert it to the mother share.
Thank you too sureesh40
perhaps after this time, I will be able to understand the datelines and required actions better.
huat ah.... ^$$^
Dear maxliuk
(1) You can't buy anymore rights now because the share is trading XR (X rights). But you can apply for more than your entitled No. of mother shares when you pay to convert your rights to mother shares.
(2) Yes the rights would become 0 in value if you don't sell it or convert it to mother shares.
(3) To convert to mother shares you have to go to an ATM of a participating bank (DBS is one of them) and pay to convert rights shares to mother shares. You must do this during the period that is allocated. You can also send a bank draft to the CDP . You have to wait for the letter from them first.
Hope this helps
maxliukt ( Date: 17-Sep-2010 17:53) Posted:
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Any updates on the Rights thingy yet ?
Going for holiday soon and liked to settle this before .
hi newbie here.
i would be receiving some rights this time. how does one buy more rights from the market? will there be any dividends for buying these rights?
would the rights expire?
would it be converted to mother share? if yes, how is it done?
thank you
Hi Don't worry
It is because the period for you to purchase the rights shares is not open yet. You will receive a letter showing you how much you are entitled to and the closing date for purchase. I think it is in Oct 9 if I am not mistaken
a06724 ( Date: 13-Sep-2010 19:29) Posted:
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Q: I should be getting an odd lot entitlement , i.e. 7700. For over allotment, is it possible to have something that ends with xx,300 shares, so as to round up the total shares holdings ?
A: Yes. You should apply for xx, 300 excess rights units. They will give preference for rounding up of odd lots, so you most likely get to round up 300 excess rights units to whole number units, though you may or may not get the entire excess rights you applied for. For e.g. you applied 13300 excess rights units and maybe they give you only 5300 excess rights units......this is just an illustration and not to be taken as always true.
Q : By your experience, the over allotment rights, how far can I push my luck in getting it ? Say 300-400% of my original rights entitlement ?
Q: Over-allotment. Is it that I will either get :
- all the rights issue that I bid for
- nothing at all
- something in between ?
A: By all means, you can apply as many excess rights units as you can pay for them over the atm. However, they may not give you too many excess rights units depending on how popular this rights exercise is and how many rights units are not subscribed by existing unitholders that can be transferred to you as excess rights units you applied for. By the looks of this rights exercise, I think the chance of getting many excess rights is low as the institutional investors have agreed to subscribe for their portions of rights units. The rights units are also attractively priced and cheap ($0.155 per unit), so most existing unitholders may want to take it up also. It is a supply and demand thing same as buying and selling of shares.
You will most likely get your 300 excess rights out of all the excess rights you applied for since they give preference to rounding of odd lots in your case. However, the exact number of excess rights you get in the end is anybody's guess. You will know when you receive a letter closer to Oct 15 indicating how many excess rights you get. Last time when I participated in their rights issue, I only get a portion of the excess rights I applied for. No harm trying to apply as many as you can pay for, but in the end unlikely to get all of the many excess rights you applied for.
a06724 ( Date: 14-Sep-2010 08:49) Posted:
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Thanks Jeremyow.
The 20/9 - 3/10 dates are the part that I did not understand earlier.
Q: I should be getting an odd lot entitlement , i.e. 7700. For over allotment, is it possible to have something that ends with xx,300 shares, so as to round up the total shares holdings ?
Q : By your experience, the over allotment rights, how far can I push my luck in getting it ? Say 300-400% of my original rights entitlement ?
Q: Over-allotment. Is it that I will either get :
- all the rights issue that I bid for
- nothing at all
- something in between ?
Kiam sia for your replies.
The following are the indicative dates based on this REIT's announcement on SGX website. The rights issue acceptance period is from Sep 20 to Oct 7. You should receive a letter from them indicating how many rights units you are entitled to subscribe for sometime around 20 Sep. From 20 Sep to Oct 7, you can then accept by making payment for the number of rights units you are subscribing through ATMs of participating banks indicated on the letter you receive.
Do take note also that the rights units one subscribed for can only be traded on open market from Oct 15 onwards. Check to make sure the number of rights units one has received. There will be a letter informing how many rights units one has received closer to Oct 15. This is to prevent any short-sale when one has not yet receive the rights units deposited to his CDP account and tries to sell them on open market before Oct 15 which is illegal.
Date Event
Monday, September 13
AMP Debt Advisory services
�� EGM: Ordinary resolution for approval of the Acquisition and provision ofThursday, September 16
�� Commencement of Ex-Rights tradingMonday, September 20
�� Rights Issue book closure date<Monday, September 20 – Thursday, October 7
�� Rights Issue acceptance period>Thursday, September 23 – Monday, October 1
�� Rights Entitlements Trading PeriodThursday, October 7
�� Rights Issue closing date of acceptances and payment for the Rights UnitsThursday, October 14
��
Completion of the issue of Rights Units��
AIMSAMPIREIT receives proceeds from the Rights Issue<Friday, October 15>
<��
Listing and Trading of Rights Issue Units on SGX-ST>��
Drawdown of New Loan��
Completion of the Acquisitiona06724 ( Date: 13-Sep-2010 19:29) Posted:
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When to the Posbank ATM to apply for the rights. Nothing leh.
Am I missing some steps or they have to send me some paperwork ?
Pai Sei. 1st timer lah.
maxliukt ( Date: 10-Sep-2010 22:20) Posted:
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thanks
appreciate it
TERP is at 0.211
http://reitdata.com/
DOES ANYONE KNOW THE TERP PRICE ?
(THE EX RIGHTS PRICE)
hi, a question about the rights issue.
ex date is 16 sept
buy in last cum date is 20 sept.
does this mean that i can buy on the 20 sept and be eligible for the rights?
thanks.
http://singaporeanstocksinvestor.blogspot.com/2010/08/aims-amp-capital-industrial-reit-rights.html
Recommends a sell of the rights. How to do this leh ?
I am in for the long term. Wanting the dividens as high % as possible to payback the investment.
Excess rights ? I would like to try 200-300% or more. Never done this before also.
Huat ah for everyone.
Theoretically you can apply as many excess as you can, as long as you have the money to pay them upfront. Of course the number of excess rights you finally get depends on the response to the right issue.
Good luck!
A question for seniors here.
how many excess rights can one apply for?
>50%?
>100%? or
>200%?
thank you