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Online Share Trading

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nil paid letters

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BABYBOY
Regular Contributor
does anyone any info on this the of listing. expect the info on this site. i need more info as i am currently looking to purchase some PAPN.
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8 REPLIES 8
SimonPB
Valued Contributor
be careful, they expire on 22 June (if my memory is correct). In short they are rights to buy PNP at a discount, if you buy you either have to sell on or before 22 June or contact us to let us know you'll be taking up the rights.
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SimonPB
Valued Contributor
err PAP not PNP
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BABYBOY
Regular Contributor
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ABuzz
Super Contributor
Hi Simon - Am I understanding you correctly? By buying Nil Paid letters is one merely buying the right to take up the purchase of shares? and not the share itself. If one buys them on the open market as Nil Paid Letters, are these then converted into shares later at no extra cost, or does one have to pay the subscription price on top of the price one paid to buy the Nil Paid Letter? Please clarify.
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SimonPB
Valued Contributor
if you hold NPL's there is still a price to pay for the new shares. So all it is is a right to buy the new shares at the discounted price. make sense?
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ABuzz
Super Contributor
Ok, so if I buy NPL on the open market and pay say 44 cents for SALN, then I will still have to pay an additional 60 cents subscription for these shares?
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SimonPB
Valued Contributor
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ABuzz
Super Contributor
Thanks Simon, finally I understand. I must say it hasn't been made very clear anywhere else on the site.
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