I have a SAYE option scheme for company X and I save 19 per month with an option to buy 875 shares at 82p each in 2005.
Now since these options were issued last year, the company has had a 1 for 1 rights issue at 70p per share (so easy guess which company I refer to).
How will the SAYE be affected? Presumably I should get more than 875 shares to allow for the dilutive effect of the rights issue.
Does anyone know?
Thanks.