FAQ – Will I get free Afritin Shares ?


16 October 2017

The 2nd Oct Afritin RNS has caused a lot of discussion on the LSE board about whether people would be eligible for Afritin shares if they bought now or not ?

This confusion is completely cleared up by the Full Circular which explicitly makes the distinction between the registration date for the 20th Oct vote (10am on the 18th Oct) and the demerger record date (6pm on the Business Day prior to the anticipated date of Admission of Afritin) which would be the date upon which registered BMN shareholders would be eligible for 1 share in Afritin for every share they hold in BMN.

As the the expected demerger date is expected to be no later than the 30th November there should be a significant window between the publication of the results of the 20th Oct vote and the actual demerger date, when shareholder can buy BMN shares confident that the demerger will proceed and that BMN shares will qualify also for Afritin shares 1:1.

Update:- The Schedule One of the 23rd November Afritin announcement states that the expected admission date is the 6th of November – this is a Monday so the last business day before this would be Friday, the 3rd of November. This is only an expected date so should not be taken as a guaranteed confirmation of the admission date.

This article only conveys the personal opinion of the author. Whilst every effort is made to ensure the content is accurate, we cannot guarantee the accuracy of the data shown. This article does not constitute professional, financial or investment advice and must not be used as a basis for making investment decisions.

Site content is not authorised by the FCA and you are not safeguarded by the Investor Protection measures of the Financial Services and Markets Act 2000. See our full disclaimer