Thursday, September 10, 2015

Stock Market Update: What Happens After LRI Tender Offer

LRI's tender offer ended last September 3. I hope you were able to tender your shares! It's good to receive these kinds of important stock market announcements and suggestions. :)

For COL Financial users, you might have noticed that your current balance does not include the amount that you are supposed to get after tendering your LRI shares.

According to the information I got from COL Financial, the sales amount from the LRI tender offer will not be credited immediately. It will be given after the target settlement date on September 15. We should expect sales to be credited by September 16. So don't panic. As long as you tendered your shares on or before September 3, you're good.


How to check if you were able to successfully tender your LRI shares?

Go to Portfolio and click the "View Monthly Account Ledger". Choose "current" if you are accessing it this September 2015 or choose "historical" then pick September 2015 in the Report Month picklist.



You should have this line item in the displayed transactions:



What will I do if I wasn't able to tender my shares?

For now, all we can do is wait if the offer will be extended. Last 2013, a somehow similar thing happened to SMDC. SMPH offered SMDC shareholders to tender their shares in exchange for SMPH shares. To liquidate, they just have to sell their exchanged SMPH shares. FOr those who haven't tendered their shares, SEC allowed the offer to be extended: http://www.manilatimes.net/sec-allows-sm-land-to-extend-tender-offer-2/15030. This is not always the case but it is possible that the tender offer can be extended.

Hope this helps! If you have inputs or questions, please put them in the comment portion below.
TGIF!


May Success be to you,


Pocketwise Pinoy Author



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