POSTMAN Pat has let down shareholders of Inchcape who applied for the
group's one-for-three rights issue but plans are afoot to remedy the
situation.
Almost 1000 provisional allotment letters and first instalment cheques
for 1,526,000 new shares postmarked on or before January 3 were not
delivered to Barclays Registrars until January 9, two days after the
deadline of 3pm on January 7. Unfortunate shareholders caught by the
Post Office delay lost out. But the group is not going to let it lie.
Directors are considering how they could effectively still participate
in the share issue. They expect to be able to offer new shares to them
at the same price as the 310p rights level. More details of the plan
will be given within a few days.
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