Bobdn
ex div date is 10th March.
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Bobdn
ex div date is 10th March.
Thanks kiwitrev. The WHS investor centre website needs a good update.
And Dilution will need to be factored in.
Shareholders Association all miffed
http://www.stuff.co.nz/business/indu...fair-treatment
And so they should be. The insiders (OK instos and sophistiticated investors) have just stolen 9% of the company. Small retail and unsophisticated / non professionals now only own 91% of what they had.
Most NZ companies don't give a stuff about small(er) investors. More of a burden than value I reckon. The Warehouse obviously is one.
What The Warehouse forgets is that those they pissing off are probably customers as well.
What a disappointment, share price down and diluted. No interest in the small investor. Will sell on Monday at a loss, will not hold companies that do this.
Yes, disappointing but this seems to be the fashion for raising equity these days - a placement to instos followed by a modest SPP for "retail" shareholders. Of course, depending on the uptake for the SPP, a small shareholder could come out on the right side of the deal if enough shareholders are sufficiently p****d off to ignore the issue!
Isn't the problem that they can only raise a set amount by way of an SPP? Any more and they have to have a rights issue which is considerably more expensive. A quick placement to insto's and an SPP to keep the retail investors happy. The people who get diluted, who have most to complain about would be the larger private investors. I think the NZX is working on changes to the options for raising capital at the moment.
I'm going to put in an order for 1500 shares which I assume I will get.
I'm really pleased that they're bringing in a dividend reinvestment plan next year. I'll join up straight away as I always fritter my dividends away when I get cash.