Re....Grimbo - 29 Dec'03 - 22:58 - 2906 of 2910 Geniusjohn - you don't exactly live up to your name do you. Do you do any research on the companies you comment on? - with over 90% of those eligible taking up the rights this is a huge endorsement of BPRG. Non UK citizens were not eligible and the directors agreed to forego their rights. A 7% rise tells part of the story on yet another big day for buys.
If "a take-up of 55.4 pct of its placing and open offer" equals "90% of those eligible taking up the rights" then the people who were offered large numbers of shares didn't take them !
Why ?
Maybe because they are directors who know priveledged information such as forecasts etc and didn't want them. They know their money will perform better if invested somewhere else (in Stanelco ?). I don't feel "directors agreed to forego their rights" is a positive statement for the company. And as I said before the offer if it was that good it would have been over-subscribed. The 7% rise is simply because they managed to palm off all those UNWANTED shares onto institutions.
Keep watching for they may go up but they will go down.
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