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Question

I've submitted my response to the Barclays Rights Issue online, what happens next?

Answer

If you have already given us your instruction, then there's nothing else required from you. The new Barclays shares are expected on 5 October and the rights will remain on the accounts until then as we gather all the client responses. Please note that if you choose (or have already chosen) to submit your response online, no confirmation email will be sent. You must have available funds in your account by market close on Thursday 26-September.

 

MarketMaster clients
If there's not enough cash in your MarketMaster to cover the instruction, we'll take the required funds by Direct Debit (if you have one of your account). Funds will be collected within 10 working days of the final reply date. If you have no Direct Debit set up, please fund your account by market close on Thursday 26-September. Depositing cash online is easy, find out how here (linking to https://help.stockbrokers.barclays.co.uk/help/.../add_cash_dealing/).

Investment ISA clients
You must have the appropriate amount of cash in your ISA account by 5pm on Thursday 26-September. If you have already used your full allowance, you can take up your Rights on a certificate, or in a MarketMaster account. Alternatively you may wish to Tailswallow (see below) or sell stock to free up cash to allow you to take up the Rights. If you are selling stock, the deal must be done by market close on Thu 26-September.

Tailswallow
Tailswallow means to sell a proportion of your Rights to raise enough cash to take up the remainder. This must be done when the market is open as it requires a live market trade, and so must be done over the telephone. You would be charged telephone based commission on the sale of the rights.

Single Company ISA clients
If you hold a Corporate ISA, you must telephone us to take up your rights. We can only take a payment by telephone if there has already been a subscription in 2012/13 or 2013/14 tax year. If you haven't funded your ISA this year or last, then an Additional Subscription form will be required. We'll need to receive the form and a cheque (with your portfolio number on the back) from you no later than Thursday 26-September.

 

 

 

 

 

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