Sorry all - just discovered it myself - my missed ache
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Nearly 5000 unsolicited envelopes going out .....and nz post is complaining about less things being posted
I find it interesting that the plan notice declares the period for participation by eligible willing sellers to be 12 August to 31 October. And that the plan document provides a cooling off period of 10 days between receipt of a punter's request to sell and the selling being undertaken. If HNZ is to pay a final dividend, the participation period will see some of the shares to be sold becoming cum dividend and/or going ex dividend and some of those going ex dividend will be subject to the dividend reinvestment plan. The plan document seems to be silent as to how these interim events are to be coped with. Let alone a rights issue.
It would be absurd should an eligible participant sell all of a modest holding, only to receive a handful of shares through the DRP because the sale took place after the shares went XD.
I was going to wait for the price to hit 90c but, being one of the small investors this is aimed at, I might take the them up ion their buy back offer.
Broker fees are a DISGRACE!!!!!!!!!!!!!!!!!!!!!!!!!!!! (Lands on knees screaming whilst raising arms to rapidly spiraling away camera).
Yesterday's closing price was 0.85, broker fees at ASB are $30 - so if you have 600 shares or less you should take them up on the offer...any more and you are better off waiting for the price to hit 0.90c
A dollar by the end of the year looks possible!
I think possible is the wrong word.
Surely the correct word you were looking to use is "PROBABLE"!!!! lol.
And we will look forward to a divie as well.
Nice people at HNZ doing wonderful things.!!!