Statement to Stock Market urges investors to use alternative couriers to ensure acceptance forms for rights issue are received before the deadline
Barratt has urged investors to promptly take up their share entitlement as part of its £720m rights issue, warning the postal strike could hamper the process.
In a statement to the Stock Market this morning, the company urged shareholders to check the Royal Mail website before posting their documents and told them to consider using alternative couriers.
Shareholders intending to take up their rights in the offering have until 3 November to return their acceptance forms.
In a note this morning Cenkos analyst Kevin Cammack said: “Some people are bothered by it [the postal strike], the most unexpected of which appears to be Barratt! Yes they have issued an announcement advising shareholders to post early for Christmas, sorry I mean for take-up entitlement of the rights which has a final acceptance date of 3 November at 11am.
“Such is its concern that it suggests […] shareholders look into the possibilities of using Royal Mail Special Delivery or courier services. Hmm a tad worried about the take-up boys?”