Neptune Orient L Rg   

NOL

Holding 17lots NOL, given 12.75lots Rights, how should i dispose them during the trading period

1) 12 lots at NOL R and 1 lot at NOL R750

2) 17 lots at NOL R750

3) 12.75 lots at NOL 750

Confused, 1st time dealing with Rights and partial lot

Thanks

 

Thanks wongmx6

 

Thanks.

 

Yes, but it's a good pratice to check the number of lot of NOLR at your portfolio statement in CDP before during it. Bear in minds, you need to pay broker fee for selling your NOLR. 

wahzaiguan      ( Date: 29-Jun-2009 14:16) Posted: I hold 4 lots of NOL, and I am given 3 lots of rights. Can I sell 2 lots of NOLR now, and buy 1 lot @ $1.30 to subscribe the rights?

 

02jul09

Kassanne      ( Date: 29-Jun-2009 11:57) Posted: When do we have the sell the rights by?

 

I hold 4 lots of NOL, and I am given 3 lots of rights. Can I sell 2 lots of NOLR now, and buy 1 lot @ $1.30 to subscribe the rights?

 

When do we have the sell the rights by?

 

NOL price going south .. and worth of rights is seriously under threat. Market is agianst the movement.

 

 

Apparently, for SRS investments, the investor has to contact their respective banks for conversion of their rights issue. The banks will send out a letter to their clients informing them of this and the investors have a time frame by which they have to reply otherwise the issue offer will lapse. For the NOL issue it is 01 July 2009. Fund used has to be SRS as well. SRS accounts have to be topped up if insufficient. Hope this helps all those involved.

 

 

I do not know why NOL document does not have any mention on SRS, it could means they miss out in document or SRS holder is not eligible or entitled!!


Better call your SRS bank or CDP to find out.. Perhaps after that you would like to update here for knowledge purposes.

ka-ching Member	Posted: 26-Jun-2009 16:40       Contact ka-ching          *  Quote this Post!
x 0 x 0 * Alert Admin	Thanks for the info Alligator. Will contact my bank ASAP. Would I be able to sell the rights accrued by my NOL shares in the open Market, I wonder? Not that I would, I think NOL is on its way up!!!

 

Thanks for the info Alligator. Will contact my bank ASAP. Would I be able to sell the rights accrued by my NOL shares in the open Market, I wonder? Not that I would, I think NOL is on its way up!!!

Alligator      ( Date: 26-Jun-2009 15:36) Posted: There were no mention in NOL's document on SRS holder ( Supplementary Retirement Scheme). So first thing you must do is to call your SRS account operator ( one the the banks that has your SRS account) and ask for the procedure. I think it is the same as CPFOA procedure where agent bank must be informed to accept rights on your behalf. Below is copy from CCT rights , one portions related to SRS for reference reading ONLY. (B) Use of SRS Funds Unitholders with SRS accounts must use, subject to applicable SRS rules and regulations, monies standing to the credit of their respective SRS accounts to pay for the acceptance of their provisional allotments of Rights Units and (if applicable) application for Excess Rights Units. Such Unitholders who wish to accept their provisional allotments of Rights Units and (if applicable) apply for Excess Rights Units using SRS monies, must instruct the relevant banks in which they hold their SRS accounts to accept their provisional allotments of Rights Units and (if applicable) apply for Excess Rights Units on their behalf in accordance with this Offer Information Statement. Such Unitholders who have insufficient funds in their SRS accounts may, subject to the SRS contribution cap, deposit cash into their SRS accounts with thoir approved banks to enable them to subscribe for their provisional allotments of Rights Units and (If applicable) apply for Excess Rights Units. SRS monies may not, however, be used for the purchase of the provisional allotments of Rights Units directly from the market. ka-ching      ( Date: 26-Jun-2009 14:07) Posted: Could anyone help me regarding NOL Rights Issue. I bought NOL using SRS. Do I need to use SRS to pay for converting rights to shares? If so what is the procedure? Thanks in advance.

 

There were no mention in NOL's document on SRS holder ( Supplementary Retirement Scheme).

So first thing you must do is to call your SRS account operator ( one the the banks that has your SRS account) and ask for the procedure.

I think it is the same as CPFOA procedure where agent bank must be informed to accept rights on your behalf.

Below is copy from CCT rights , one portions related to SRS for reference reading ONLY.

(B) Use of SRS Funds
Unitholders with SRS accounts must use, subject to applicable SRS rules and regulations, monies standing to the credit of their respective SRS accounts to pay for the acceptance of their provisional allotments of Rights Units and (if applicable) application for Excess Rights Units.
Such Unitholders who wish to accept their provisional allotments of Rights Units and (if applicable) apply for Excess Rights Units using SRS monies, must instruct the relevant banks in which they hold their SRS accounts to accept their provisional allotments of Rights Units and (if applicable) apply for Excess Rights Units on their behalf in accordance with this Offer Information Statement. Such Unitholders who have insufficient funds in their SRS accounts may, subject to the SRS contribution cap, deposit cash into their SRS accounts with thoir approved banks to enable them to subscribe for their provisional allotments of Rights Units and (If applicable) apply for Excess Rights Units. SRS monies may not, however, be used for the purchase of the provisional allotments of Rights Units directly from the market.

ka-ching      ( Date: 26-Jun-2009 14:07) Posted: Could anyone help me regarding NOL Rights Issue. I bought NOL using SRS. Do I need to use SRS to pay for converting rights to shares? If so what is the procedure? Thanks in advance.

 

When selldown tactic as beinng monitored by me was a deliberate sale of 1 lots or 5 lots to bring down the price  so these people can get the cheap sale without the rights.. haha... But  I seriously dont think the underwritters ( many banks and temasek will do that?)

however in a war , everyone will fight for their benefits ( including me , I am pro NOL) so I am just exploring dirty tricks seen by me.

Massive selldown ? where are the volume ?

 

When new share listed and become diluted yet in the red so much.... potential selldown .... just my view not MFT...

 

The selling down is coming to an end ... haha .. people are buying NOLR and NOL in bulk .. some shortist who tried to sell down the price by 1 lot and 1 lot has their buttock burnt now.  A lost of 330 K possible by them yesterday if price comes back to 1.55 haahaa

 

Teamasek and its alliance to NOL's rescue... bring up to the price to  1.6 

Haha.. shortist in trouble ... The autobots is winning the game!

 

Could anyone help me regarding NOL Rights Issue. I bought NOL using SRS. Do I need to use SRS to pay for converting rights to shares? If so what is the procedure? Thanks in advance.

 

In a way, it's just like playing an option... 

At least one can have a taste of trading options without trading options... hehehe... 

 

You can use on-line trading account to buy or sell nil-paid rights that are into CASH account (CDP holding)

Kassanne      ( Date: 25-Jun-2009 16:54) Posted: Do we have to use a brokerage firm to sell the rights?  I assume price of the rights depend on the market price?