20.15 Tatiana, a friend of yours, has recently been left approximately £50 000 of listed company investments in her grandmother’s will. She has been trying to read the Financial Times in order to see what is happening to her investments. She has found some information about three of them:

i) Turtlehammer plc rose to 215p on speculation of a hostile bid from a competitor, but fell back to 210p by the end of the day’s trading.

ii) The share price of Teddington Tilmain plc has risen by 26 pence following the announcement that it has obtained an important new export contract.

iii) Tolson Tortellini plc has announced today that it is making a rights issue of 1 for 4 at £2.30 Tatiana frankly admits that she doesn’t understand any of this. She asks you to explain each of the pieces of news in terms that she can understand. She would like to know if any of it is likely to be good news for her.