Tritax Big Box open offer and subscription

Post by **MDW1954** » January 25th, 2019, 4:47 pm

Open offer to fund the acquisition of large land bank offering a 7-9% yield when developed. Looks good to me.

Outline details:

https://tritaxbigbox.co.uk/pressrelease ... pen-offer/

MDW1954

gnawsome · Post by **gnawsome** » February 11th, 2019, 12:30 pm

MDW1954 wrote:Open offer to fund the acquisition of large land bank offering a 7-9% yield when developed. Looks good to me.

Outline details:

https://tritaxbigbox.co.uk/pressrelease ... pen-offer/

MDW1954

Could you please tell me how to calculate the scaling back of the 'excess' applications.
I've seen some suggestions of 19/20ths but I can't find that in the published docs only;

A scaling back exercise has been undertaken with respect to Excess Applications received which have been allocated pro rata to Qualifying Shareholders' applications under the Excess Application Facility, in accordance with the terms set out in the Prospectus.

And I can't make sense of that.
Looks like not a great appetite for them tho'

Post by **MDW1954** » February 11th, 2019, 1:32 pm

gnawsome wrote:
MDW1954 wrote:Open offer to fund the acquisition of large land bank offering a 7-9% yield when developed. Looks good to me.

Outline details:

https://tritaxbigbox.co.uk/pressrelease ... pen-offer/

MDW1954
Could you please tell me how to calculate the scaling back of the 'excess' applications.
I've seen some suggestions of 19/20ths but I can't find that in the published docs only;

A scaling back exercise has been undertaken with respect to Excess Applications received which have been allocated pro rata to Qualifying Shareholders' applications under the Excess Application Facility, in accordance with the terms set out in the Prospectus.

And I can't make sense of that.
Looks like not a great appetite for them tho'

Don't know why you're saying not a great appetite? Significantly over-subscribed, from what I can see.

My brokers' communications usually provide the calculation basis -- I tend to wait for those to arrive.

MDW1954

gnawsome · Post by **gnawsome** » February 11th, 2019, 2:37 pm

MDW1954 wrote:
Don't know why you're saying not a great appetite? Significantly over-subscribed, from what I can see.

My brokers' communications usually provide the calculation basis -- I tend to wait for those to arrive.

MDW1954

I thought I read that the excess applications were to be scaled at 19/20ths.
That's a lot higher than the previous offerings have scaled back to, which seems to suggest lower demand but I must admit my capacity to interpret documents is itself being scaled back (from a low point).
The share price also seems to be weekening from the news.
A scaling back exercise has been undertaken with respect to Excess Applications received which have been allocated pro rata to Qualifying Shareholders' applications under the Excess Application Facility, in accordance with the terms set out in the Prospectus.

I've no doubt my broker will advise in its own good time but I'm at one of those 're-alignment' points with the financial year-end approaching and various things in train.
So at fourscore and some I find the urge to get bits settled, as soon as I can find the data, high on my priority list. It seems the data is 'out there' just I'm not seeing it.

Post by **MDW1954** » February 11th, 2019, 9:32 pm

gnawsome wrote:
MDW1954 wrote:
Don't know why you're saying not a great appetite? Significantly over-subscribed, from what I can see.

My brokers' communications usually provide the calculation basis -- I tend to wait for those to arrive.

MDW1954
The share price also seems to be weakening from the news.

I've no doubt my broker will advise in its own good time but I'm at one of those 're-alignment' points with the financial year-end approaching and various things in train.

So at fourscore and some I find the urge to get bits settled, as soon as I can find the data, high on my priority list. It seems the data is 'out there' just I'm not seeing it.

I suspect the share price is slightly down because of the short-term impact on earnings per share.

Re: the data, the shares are already there in Hargreaves Lansdown accounts, a mate tells me. So too with your broker (and mine, when I get around to looking, I guess). So check your account tomorrow -- you may not need to do any calculations, the actual shares should be there.

MDW1954

gnawsome · Post by **gnawsome** » February 12th, 2019, 12:04 pm

So check your account tomorrow -- you may not need to do any calculations, the actual shares should be there.

MDW1954

No sign yet - at noon.
Not surprised at that. I guess it is hardly important but I'm still confused by the RNS.

gnawsome · Post by **gnawsome** » February 13th, 2019, 10:23 am

Still no basic entitlement
and still no excess allotment
Not even a simple formula for calculating the basis for the excess allocation.
Is this starting to smell wrong to anyone else.

gnomes26 · Post by **gnomes26** » February 13th, 2019, 6:34 pm

My allocation now shows on my HL account.

Post by **MDW1954** » February 13th, 2019, 7:56 pm

gnawsome wrote: Is this starting to smell wrong to anyone else.

No.

MDW1954

supremetwo · Post by **supremetwo** » February 13th, 2019, 9:09 pm

gnawsome wrote:Still no basic entitlement and still no excess allotment
Not even a simple formula for calculating the basis for the excess allocation.
Is this starting to smell wrong to anyone else.

No problems here.

Ask the question to your broker.

gnawsome · Post by **gnawsome** » February 13th, 2019, 10:57 pm

supremetwo wrote:
Ask the question to your broker.

I very much agree that it seems to be my broker who is at fault.
I now have the allocations - as at c18:30 but my account is not reconciled

supremetwo · Post by **supremetwo** » February 14th, 2019, 10:33 pm

gnawsome wrote:
supremetwo wrote:
Ask the question to your broker.
I very much agree that it seems to be my broker who is at fault.
I now have the allocations - as at c18:30 but my account is not reconciled

Scaleback of the excess allocation - received 19.4% of the number applied for.

gnawsome · Post by **gnawsome** » February 15th, 2019, 1:44 pm

supremetwo wrote: I now have the allocations - as at c18:30 but my account is not reconciled

Scaleback of the excess allocation - received 19.4% of the number applied for.[/quote]

My scaleback of the excess seems to be c44%.
As yet I have not seen (understood) how the excess scaling has been calculated.

Commonly expressed as a %age up to x
Then a reduced %age up to y
And so on.

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