Rights Issue via SCB: Croesus Retail Trust
Hi Guys,
Just want to share the exp. after going thru my first rights issue via SCB. As it turns out, it was a total non-issue at all and kudos to SCB for handling it well.
Timeline:
1) Bought Croseus Retail trust during CR.
2) Rights shares were automatically & correctly created in my portfolio in SCB.
3) Received letter in the mailbox telling me of available options:
i) Accept Rights
ii) Lapse(Default)
iii) Over subscribe
iv) Sell rights(via normal trade)
In the letter they also gave u a deadline to inform them about the decision(16 Oct, 5pm).
4) Call SCB to tell them of my decision to accept i) & oversubscribe iii).
5) Have enough funds in yur settlement account(fund debit date 23 OCt).
6) Wait for shares to be updated to your portfolio and any refunds from the over subscription.
Hope the above is helpful to fellow EDMWers.