The Company has recently announced a Rights Issue and the terms are 31 for every 47 Ordinary held at 410p per share.

Under the terms of the offer, as you purchased the shares prior to the ex-rights date you will receive 21 Nil Paid shares. You may then make one of the following elections:

1. Accept the offer, thereby exchanging your Nil Paid shares at a total cost of £86.10 for 21 New Ordinary shares.
2. Sell your Nil Paid shares (through our dealers on the usual telephone dealing line).
3. Take no action - in this case your right to exchange your Nil Paid shares will lapse and the Nil Paid holdings will be removed from your account. Any proceeds which may be payable on these lapsed rights will be credited to your account.
I don't particularly understand what's happened here - or why