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MFG - MAGELLAN FINANCIAL GROUP LIMITED


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In reply to: jkconnor on Thursday 22/03/07 06:59pm

Just wondering if other shareholders have any view on the Rights Issue & Priority Issue.

 

The stock seems to be trading quite well given it is ex-entitlement. I am assuming everyone intends taking up their Rights at 97.5c but what about subscribing to Priority shares - also at 97.5c?

 

I'm subscribing for my maximum entitlement, and am prepared to be told I have been scaled back.

 

Anyone else following thislately and have a view?

 

I intend to be a long term holder on this one.

 

Coop

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In reply to: AgentCooper on Monday 30/04/07 06:22pm

Took up the rights and also bought on market today.

This will be a good one long term and in a similar vein to Platinum. Their objective to take positions in smaller funds is a good one. The behemoths are not as nimble and returns tend to flatten because of size and weightings.

Where was the opportunity to top up @.975? It wasn't on my paperwork.

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In reply to: ridgey on Monday 30/04/07 07:19pm

Hi

 

In addition to the 1-for-5 Rights Issue at 97.5c they also had a Priority Offer where you could subscribe up to a further 50,000 shares at 97.5c.

 

If you did not get a form for the Priority Offer it is either because you weren't eligible or perhaps you may not have seen the additional paperwork?

 

I took up my maximum entitlement of Rights & subscribed to the max under the Priority Offer....althgough I expect a scale back, there.

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In reply to: AgentCooper on Tuesday 01/05/07 06:16pm

I got my rights by virtue of being a MFF share holder so perhaps I was not eligible. Would have been nice to top up @.975 having paid full market price yesterday!

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In reply to: ridgey on Tuesday 01/05/07 06:21pm

G'day

 

Yes...I think that explains it. I think MFF will do well but personally prefer the Mother Ship http://www.sharescene.com/html/emoticons/smile.gif

 

Good luck. I think we will do well. Free options, too! 1 option for every 2 Rights shares and 1 free option for every 10 Priority Shares.

 

And when you consider that MFG has gone ex-entitlement....they sure are holding up well. I just hope I get SOME shares in the Priority Offer.

 

Coop

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  • 3 weeks later...

In reply to: AgentCooper on Wednesday 23/05/07 04:12pm

Hi AC ...

 

 

they are double options .... exercise the first one at $1.20 by June 2009 and you get another option at $1.30 strike expiry 2011.

 

So at $2.35 the intrinsic value is $2.20 so trading at $2.35 is about right .

 

Still a fan of MFG .... market yawned when they hired the distribution guy from Colonial that took them from a piddly 300 mio under management to 40 odd billion.

 

Time will tell with this one :}

 

cheers

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In reply to: kahuna1 on Wednesday 23/05/07 05:22pm

Thank you for that...much appreciated.

 

I went for the full 50,000 priority shares...got scaled back to 6006 but that was not unexpected. I am happy with what I got in addition to the 5,000 Rights ascribed to me and free options.

 

As you say...time will tell.

 

Regards.

 

Coop

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