got to love there timing , right at top of there business cycle
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Me have ASB custodian services ...they didnt even send me any info as they said it was so rushed that only Jarden people could participate ...what a sham and no laws against it ....this is high street robbery by listed company ...
Jeff has committed fraud on small investors ....I will never ever invest in his company .
Happy he is getting egg on his face via NZX SP down 10% in spite of having 5.5 Cents divvy inside ...He deserves it ...Jarden too
Interestingly, Sharesies investors were able to apply for the Placement - not just the SPP. Unfortunately I have no spare cash right now so unable to take advantage of either option.
As others are saying, a rights issue would have evened the playing field, and would (probably) have given small investors like me, a little more time to gather funds.
Disappointing.
Chill folks.
Looks like there's enough flippers in the placement who are happy to take their gains after obtaining shares at $1.80.
Could very well see the sp below $1.80 in the months ahead - you can participate in at the placement price then.
Seen it all before.
Hi JAK,
This gives you plenty of time to gather some funds .
Record Date: 7.00pm NZST/5.00pm AEST Monday 22 August 2022
Expected dispatch of SPP offer document: Thursday 25 August 2022
SPP opens: Thursday 25 August 2022 SPP closes: 7.00pm NZST/5.00pm AEST Monday 5 September 2022
Announcement of results of SPP: Thursday 8 September 2022
Settlement and allotment of shares issued under the SPP offer: Friday 9September 2022
Trading of SPP shares commences on NZX: Friday 9 September 2022
Trading of SPP shares commences on ASX: Monday 12 September 2022
How will they be called flippers if they ready to sell at loss ...they bought at 1.80 ...so selling below 1.80 will be loss for them !!!
I am not sure it will go much below 1.80 and for much time if any ...after these 111 m shares get absorbed then it will go back to 2.00-2.10 range ...may take 2-3 months though
no way there business will down turn like all bank type business as world goes down
The flippers obtained their $1.80 shares yesterday and they are selling today to lock in their profits - knowing full well it's a case of who gets out first.
So who are the flippers?
They are existing shareholders (typically institutions or large investors) who participate in placements and sell their existing shares at above the placement price - knowing full well that the shares sold will be replaced by the placement shares.
Happens with almost every placement of shares where existing institutional shareholders are given preference.
Example :
ACC has (say) 15m HGH shares. They participate and take 2m shares in the placement at $1.80.
Once trading halt is lifted, they sell at anything above $1.855 to lock in some profits.
Makes sense but really you have less than 1% of yesterdays placement traded and its hit the 1.80s already. I have enjoyed the div up until now, I liked the reverse loan book growth but I did have doubts about getting into the AU livestock business. HGH is starting to feel more of a roller coaster ride than I have previously experienced it to be. I considered it one of the stable parts of my portfolio long term. Now I am not sure.
Were placement shares entitled to the div? I didn't think they were. That would mean anything over 1.80 is a win right?
The flippers are knocking the sp down post the placement.
Market sentiment and share price dynamics are what could take the sp lower than $1.80.
I am a realist - bear in mind I have plenty of HGH shares from when PGC sold down so I am not trying to knock the sp down.
I was simply telling those who are complaining about being able to participate in the placement at $1.80 that they could very well get their opportunity later.
NZX and ARV are recent examples.