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Must be honest I cant understand it either. Closing price on Friday was R55.75 giving the rights a value of R3.75. At 16 rights per 100 this gives a value of 60c per share. If the initial margin on the SHF CFD's are R7.68 then I would expect the adjustment to be 7.8125 CFD's per 100 held, not 0.78 CFD's per 100 held.
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Must be honest I cant understand it either. Closing price on Friday was R55.75 giving the rights a value of R3.75. At 16 rights per 100 this gives a value of 60c per share. If the initial margin on the SHF CFD's are R7.68 then I would expect the adjustment to be 7.8125 CFD's per 100 held, not 0.78 CFD's.
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At Koos: Rights issues are always at a discount otherwise no incentive to subscribe. What I understand is the rights offer on JSE is to shareholders in Steinhoff not the open market. Simon: Please explain how they are arbing the R3 difference. Surely they can just sell their rights for R3 next Thursday?
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