Bradford & Bingley Rights Issue

[Bazile]

I have received documentation re the above , setting out the following options :-

1. Take up all the rigths and purchase the additional shares offered , at 55 pence per share

2. Cashless take up - selling some of the rights , in order to purchase the remaining rights

3. Sell all the rights

4. Lapse the rights

What's the current thinking out there - any opinions ?


Thanks

[Hammer]

The current price is 54p so there doesn't seem much point in taking up the rights at 55p.

If you were going to buy more anyway then maybe wait until closer to the expiry date of the rights and buy at the cheaper of the current price & 55p, otherwise I would try to sell them although they are practically worthless unless the price picks up a bit.