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What just happened to HINT
andy mac
Posted: 19 April 2017 07:21:47(UTC)
#1

Joined: 12/02/2016(UTC)
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Good morning

I just logged on to my platform to see that I had another listing of HINT no value nut half as many shares as HINT yesterday. This new listing is described as OTHER.
I must have taken my etc of the ball. So what has happened when and why
Anyone able to explain it. Also why was there no info on it that I could find

Thanks in advance
C R
Posted: 19 April 2017 08:07:48(UTC)
#2

Joined: 19/04/2017(UTC)
Posts: 1

It's an open offer: 1 new share for every 2 held.
Prospectus is on their web site.
Nigel G
Posted: 19 April 2017 10:13:58(UTC)
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That will be your allocation of C shares under the open offer. An earlier thread can be found here...

http://moneyforums.cityw..._HINT-c-share-offer.aspx
andy mac
Posted: 19 April 2017 13:13:27(UTC)
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thks I didnt get a message from my platform so totally missed out but was given the shares

I have raised it with the platform
Nigel G
Posted: 20 April 2017 16:06:55(UTC)
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andy mac;45983 wrote:
thks I didnt get a message from my platform so totally missed out but was given the shares

I have raised it with the platform

You haven't missed out, nor have you been given anything. These are the options currently being offered by a certain well known platform.

"Option 1 – Do nothing. If you do not return an election by the deadline of noon Tuesday 2 May 2017, the Offer will lapse.

Option 2 – You can purchase new Shares. The terms of the Open Offer allow you to buy 1 new C Share for every 2 existing Ordinary Shares held at the close of business on 5 April 2017. The new C Shares will cost 100p each. One Henderson International Income Trust plc Entitlement has been credited to your portfolio to represent each new C Share you are entitled to purchase. You may also apply for C Shares in excess of your Basic Entitlement.

Excess applications will be made through the Subscription Offer running in conjunction with the Open Offer. Applications through this facility are subject to a minimum of 1,000 C Shares and in multiples of 1,000 C Shares thereafter, also at 100p per C Share."
Henderson Investment Trust Team
Posted: 21 April 2017 13:08:50(UTC)
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Joined: 09/10/2013(UTC)
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Raising new capital for an investment trust company is usually in the interest of all shareholders as it spreads the fixed costs of the company over a wider shareholder base and improves the liquidity in the shares. That said, it would not be in their interests if existing shareholders had to meet the cost of that fund raise or the fund raise itself had a negative impact on dividends. For this reason C shares (Conversion shares) were created . The new capital is raised and is initially kept separate in what is known as the C share pool. The costs of the fund raise are set against that pool so existing shareholders do not suffer any of the costs. When the C share pool is invested (no dealing costs shared with existing shareholders) and the Board is comfortable in regard to dividends then the C shares convert to ordinary shares on a net asset value to net asset value basis.

I hope that this explanation makes sense and explains why we are creating C shares for this short period. I agree that it adds complexity but only because it is necessary to protect existing shareholders.

Henderson Investment Trust Team
1 user thanked Henderson Investment Trust Team for this post.
dlp6666 on 24/04/2017(UTC)
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