The current cash, after the capital return from ADIG of £3,7333 is £5,855.17. The return has not been included in the Snowball as it’s not a repeatable payment.

The funds are going to be re-invested in the RGL share subscription

59,100 shares at 10p

Now, u don’t need to use a calculator to realise that is short of the entitlement amount but the dividend tomorrow of £331 from RGL will take the Snowball over the line.

The closing date for subscription is the 14th of July.

The Snowball will be overweight with RGL but the intention is still to pay a reduced dividend, so the position will be sold into, overtime.

The subscription shares are trading around 13p but this price may fall after the share consolidation as the newly issued shares find a new home. One option is to sell some shares in the market and replace them with the subscription shares, when issued.