88V8 wrote:Gerry557 wrote:It looks like a dividend cut, sorry rebase too. Will have to check the details later.
Yes, same divi spread over more shares.
Deep discount. No wonder it's 'fully underwritten'.
Not sure whether I will take it up given the oncoming change of govt and the inclination of govts to interfere with utilities.
V8
It's not spread over more shares, though that may not be immediately clear. Timetable:
Admission and commencement of dealings in New Shares, nil paid, on the London Stock Exchange: 8.00 a.m. on 24 May 2024
Existing Shares marked "ex-rights" by the London Stock Exchange: 8.00 a.m. on 24 May 2024
( dividend "will be paid on 19 July 2024 to shareholders who are on the register of members at 7 June 2024" )
Latest time and date for acceptance, payment in full and registration of renunciation of Provisional Allotment Letters: 11:00 a.m. on 10 June 2024
"The New Shares, when issued and fully paid, will rank pari passu in all respects with the Existing Shares, save for the right to receive the recommended FY24 Final Dividend of 39.12 pence per Share which shall only be paid in respect of the Existing Shares."