hbos

[devadiva]

I have received a thick wodge of papers on a rights issue - can anyone tell me in words of one syllable what I have to do and is it likely to cost me if I bin it?

[pug100]

In a nutshell they want you to give them more money so that they can grow the business (take over smaller rivals) and become a dominant force in the financaial world.
FT reported it here

http://business.timesonline.co.uk/tol/business /money/investment/article3866662.ece

http://business.timesonline.co.uk/tol/business /money/investment/article3840761.ece

[magicaltimes]

It will cost you nothing to bin it,only an accountant can understand it anyway.Basically want they want you to do is buy more shares from them at a discounted price, for every 5 shares you own they are offering you 2 shares at the discounted price of �2.75p.The trouble with this is that today the share price is below that of the offer price so you could buy them cheaper on the open market.
Whether you can buy them on the open market and put them away in a tax free vehicle i am not sure about.

[devadiva]

I have today received a form and stamped addressed envelope which enables me to sell my rights and recieve a cheque by the end of JUly Thank you for trying to help