AMP Share purchase Plan

[Jim]

Hi Guys. I was given some AMP shares many years ago when they demutualise. Yesterday I received an email from them offering me to a Share Purchase Plan and they required me to pay for it by BPAY. I have a Directing broking account and they don't operate any BPAY. The only place doing it is ASB securities. Do anyone out there know how or where I can pay for the SPP in NZ using the BPAY or ways to do it ??

[Snow Leopard]

Do any of your friends have an Australian bank account?
They could do it on your behalf.

[bottomfeeder]

Yes I just received my email as well. I will be ringing them on monday. Not very good is it. To apply it would seem you have to have an australian bank account, that allows you to B Pay $15,000 in one go. I havent got one. Stiiinnnnkkkks.

They list on the NZ exchange then shaft you. Wish I didnt buy australian shares in the first place. Bloody Aussies.

[percy]

Should you use a full service broker,such as Craigs,email them your entitlement email, and they will take care of it for you.

[Biscuit]

Hi Guys. I was given some AMP shares many years ago when they demutualise. Yesterday I received an email from them offering me to a Share Purchase Plan and they required me to pay for it by BPAY. I have a Directing broking account and they don't operate any BPAY. The only place doing it is ASB securities. Do anyone out there know how or where I can pay for the SPP in NZ using the BPAY or ways to do it ??

Personally, I'd say you had a lucky escape.

[Scrunch]

Yes I just received my email as well. I will be ringing them on monday. Not very good is it. To apply it would seem you have to have an australian bank account, that allows you to B Pay $15,000 in one go. I havent got one. Stiiinnnnkkkks.

They list on the NZ exchange then shaft you. Wish I didnt buy australian shares in the first place. Bloody Aussies.

From the NZX it looks as if you can do an AUD bank cheque from a NZ trading bank and courier the bank cheque over to OZ. They could have been structured better, but its still possible to subscribe without having an AUD bank account.

The reference below is from the link below:
https://www.nzx.com/announcements/339244

"7 How do I apply for Shares under the SPP? If you wish to participate in the SPP, you can apply for Shares in the following ways:

− Follow the instructions set out in the enclosed Application Form. Send your completed Application Form with your cheque, bank draft or money order drawn on an Australian branch of a financial institution in Australian currency, made payable to “AMP Limited” and crossed “Not Negotiable” to the Registry in the enclosed reply paid envelope;

− Apply for Shares online by visiting AMP’s SPP website at ampspp.com.au. You will need to provide your Security Reference Number/Holder Identification Number, the name on the Application Form enclosed with this letter and postcode to access the online Application system and follow the instructions provided; or

− Apply for Shares by making a payment of $1,000, $2,500, $5,000, $7,500, $10,000 or $15,000 using the BPAY facility provided by your bank as per the instructions in the Application Form. If you make a payment by BPAY, you will be deemed to have completed an Application Form accepting Shares to the value of the amount validly paid. You do not need to return the Application Form if paying by BPAY.
If you are a Shareholder registered in New Zealand, you will need to make your payment in Australian dollars. Please return your payment in the enclosed envelope and affix a stamp before posting."

[silu]

I'm with Direct Broking and if I need to pay anything via BPAY I e-mail them the filled out form and make sure I have money in the account. Worked a treat so far.

[bottomfeeder]

Thanks for that, I will go through Direct Broking. Rang AMP, and no joy.

[albundy29]

AMP announces successful completion of Share Purchase Plan

Valid applications received from approx 15000 out of 713213 shareholders - (just over 2% take up)

This is evidently a "clear vote of shareholder confidence in our strategy..." and shows "significant shareholder support.."

Wonder what an unsuccessful SPP would have looked like?

Glad the complexities of buying from NZ assisted in my not to buy decision.