BEG Preference Shares

[Marno_1]

I have a question that I hope someone can assist me with. I have received some BEG PREF shares. Will this share have a share value like a ordinary share later on? Currently my portfolio show I have the shares but with a zero value. There are however buyers and sellers on the share.

[SimonPB]

They have zero value as they haven't traded and today is the first day. Either as soon as they trade or at the close tonight there will be a ruling price. In the mean time you can set your portfolio to value you shares at bid price rather then ruling.

[SimonPB]

hmmm, nah. They been around for a wghile - but never traded? So will seemingly only have a ruling price when they trade. The bid value option will still work.

[ABuzz]

I think they were valued in the offer at R1,07 if my memory serves me correctly?

[SimonPB]

trade went through a bit ago at 105c and should now reflect with a value in your portfolio.

[sk_1]

Simon, I also have some that have cropped up in my portfolio, do I have to action anything?

[SimonPB]

not as I understand. They have no end date, so you hang on and maybe sell one day?

[Lofty]

I opted for the preferential share allocation as this was the default, (option 2). My preferencial shares were sold on the Aug 10 without me authorizing it. Scary that something like this can happen / be allowed. Anyone else have the same problem, or am I off the track. Rgds

[Marno_1]

I have send a mail to OST and the option is still there that you can convert 1 BEGP share for 7 Ordinary Beg shares.(As indicated in a previous sense) I have put in my request so I will see what will happen.

[ABuzz]

Lofty, interesting that you were given Option 2 as the default, cos I was given option 1, the cash option as a default, which was what went through on the 10th.

[Lofty]

ABuzz, I asked "[email protected]" what the default was as I was not sure & I received an Email from them stating that "option 2" was the default, so not sure now at all. I sent them a mail this morning asking to advise but so far no reply. Cheers.

[Lofty]

ABuzz, I got it wrong, in my personal preferences I ticked the payment in cash, that's why I didn't get the shares. My fault for sleeping. Cheers

[saash]

Hi. Cash was the default. If you opted default, you got money (reflected on your portfolio as a sale of pref shares).

[dreamer]

The nicest thing about these preference shares is that the cost that either through cash offer or preference share options it brings down the unit costs for shares. I am thinking of converting the preference shares. But could someone please tell me how to do this. OMO

[Marno_1]

Dreamer according to OST you send a E-mail to [email protected] and then they do the convertion for you.

[dreamer]

Thanks. Any ideas if I should convert, sell or keep the Beige preference shares.

[ABuzz]

dreamer, they're trading at over 170 cents, if you still have the option to get the pref shares, they are definitely the best option. That is nearly 60% up on their estimated listing price of 107c.

[SimonPB]

what's the deal/payment on these prefs?

[saash]

6% ?

[SimonPB]

6% of what?