Barratt Developments, the property group in the thick of a £720 million rights issue, today expressed concerned about the effect of the postal strikes on its proposed capital raising, as it issued an urgent statement warning shareholders to respond quickly to take up their entitlement.

In an announcement issued this morning, Barratt said that the group "strongly advises" shareholders to explore ways of returning their requests "by means other than the ordinary post".

The group said that investors should consider using a courier service if they have concerns.

Shareholders intending to take up their rights in the offering have until November 3 to return their acceptance forms. Barratt said today that it had been contacted by numerous investors who had raised concerns that they might miss the deadline.

Investors only received their application forms in the middle of last week.

A spokesperson said that some 9,729 individual investors own Barratt shares, accounting for approximately 10 per cent of the company. A further 2,270 institutions hold shares, she said.

Barratt is also taking out adverts in national newspapers, urging small shareholders to return their rights issue forms.

The statement said: "In the light of the recent and proposed further industrial action by the Communication Workers Union, Barratt strongly advises ... shareholders to respond promptly following receipt of provisional allotment letters if they wish to take up some or all of their entitlement under the rights issue."

It added: "Such shareholders are advised to check the Royal Mail website for an update on the status and impact of the industrial action before deciding how to return [the letters] and cheques (or banker's drafts)."

Barratt is not thought to be planning to extend the deadline for the return of forms.

To discourage shareholders from relying on postal workers to deliver their responses, Barratt advised shareholders to either revert to Royal Mail's special delivery service or to "consult business directories or internet search facilities in order to identify national or locally available courier services which may be appropriate to an individual shareholder's circumstances".

No other major company in the middle of a rights issue has made a similar plea to shareholders in the face of the postal strikes.

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