Suspended Pending Announcement

[peterboroughmatt]

Hi guys newbie here (to forum not s/betting) so hello all.

Im wondering what happens if a company im betting on (long) announces they are suspending trading die to an announcement (take over), been in the market for a number of years but never had this issue before.

Its an oil company im referring to and I believe they might have a bid soon and suspend trading for awhile.

Im guessing (hoping) that the bet will be suspended and then resume at the higher price thus making my profit.

Can anyone confirm?

Cheers

Matt

 

[Pondlifedregsbutler]

Hi guys newbie here (to forum not s/betting) so hello all.

Im wondering what happens if a company im betting on (long) announces they are suspending trading die to an announcement (take over), been in the market for a number of years but never had this issue before.

Its an oil company im referring to and I believe they might have a bid soon and suspend trading for awhile.

Im guessing (hoping) that the bet will be suspended and then resume at the higher price thus making my profit.

Can anyone confirm?

Cheers

Matt

I'm in a similar situation with KEA (wild punt) holding a position with a June exp. I assume you will get the takeover bid price however if your contract expires during suspension I would guess you'd be paid out on the last price traded?? This is something I will have a look into next week. It'd be a big old kick in the stones if you held a position and suspension overlapped expiry date and the SP trebled on takeover.

I'll contact an SB firm and report back as, like you, I've yet to hold a position through a takeover deal so also have no idea what to expect.

 

[peterboroughmatt]

I'm in a similar situation with KEA (wild punt) holding a position with a June exp. I assume you will get the takeover bid price however if your contract expires during suspension I would guess you'd be paid out on the last price traded?? This is something I will have a look into next week. It'd be a big old kick in the stones if you held a position and suspension overlapped expiry date and the SP trebled on takeover.

I'll contact an SB firm and report back as, like you, I've yet to hold a position through a takeover deal so also have no idea what to expect.

Thanks

I held Cove when they were taken over but there was no suspension just a straight out offer.

Let me know what the reply is, im going to contact IG via email (so I have it in writing)