I don't know how many the wife received, as she held more than me on the record date, but I received 4,570 shares or $13,801.40 worth at $3.02,or just over 90% of what I applied for.A bit of a nice surprise.
I don't know how many the wife received, as she held more than me on the record date, but I received 4,570 shares or $13,801.40 worth at $3.02,or just over 90% of what I applied for.A bit of a nice surprise.
Welcome to the rotten world of SPPs.
Hopefully NZ Shareholders Assn will keep acting in all investors' interest, and get companies to have the much fairer rights issues, when they want to raise more capital.
The old arguement the company did not have time, just shows lack of planning.
It is not just TRA,but all companies who do SPPs.
Just double checked I actually got 467 extra shares and had 3300 before SPP. Still my point stands that this was a complete waste of my money that I could of put somewhere else or bought more Turners at $3.18. I wouldn't of gone into the SPP at all if I knew this was the likely outcome.
I participated in the ARV rights issue for $2k worth of shares which isn't much but at least that expectation was set from the beginning and didn't mean I had to chase getting $15k only for 90% to be returned in a few weeks.
Very disappointing. Also $5 million in the SPP was a laughable low amount with the size of the share register base.
Almost correct, but that doesn't ring true with my allocation.
In my case I received 1 share for every 7.0668 held currently and not at record date. Sold some of my holding last week and didn't receive any SPP shares based on my holding at record date!
I have a sour taste in my mouth and feel a vent tomorrow to either Computershare or Turners is on the cards as this was not explained clearly in the offer document.
Very disappointed in the way Turners have handled this and feel that Grant Baker got of light in the AGM (with regards to the capital raising issue). In the future I'm going to have to front up to ask the real questions myself and make the directors accountable for their answers.
At least HBL increased their SPP allocation to retail investors.