Spot on BP:t_up:; happy with my allotment, happy with my NZ company, happy with the sun out, better get the mower out.:ohmy:
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Spot on BP:t_up:; happy with my allotment, happy with my NZ company, happy with the sun out, better get the mower out.:ohmy:
Exactly 777. It has become a big disincentive to partake in SPPs where we are offered to apply for decent amounts paid up front, amounts that more often than not are largely refunded.
In this case the result is pretty much as I expected and both allottment and refunds being done fairly swiftly. But surely it is time to change this process. May be an issue to bring to the Shareholders Association!?
Imagine the shambles if they did not have the money up front!
Some who applied for them would not have the money in their account. And then they would have to try to fairly re-allocate the shares not taken up.
While I don't like it either...it's probably the cleanest way to do business. Given that Heartland is a bank, it's a pity they couldn't give us some interest while holding the funds.. although as Roger pointed out, the amount is not really significant.
RTM & Roger as I understand it, it is the Registry that holds the funds, not the listed company. In this case Link Market Services. But I don't think interest is the issue. It is the opportunity cost of the funds earmarked for the SPP and no doubt there are many SH now disappointed that they could have afforde $4.8k but not $15k.
Anyway my "debate" is not specific to this SPP which has been clear and swift and I am happy with my allocation It's about whether we can not have a better process for SPPs in the future and probably belongs to a separate thread 😀
Ahhh they should have taken 40 million! didn't even need to get those cheeky institutional fellas onboard
A renouncible rights issue would have been a far fairer system and obviously it would have been well supported.
Hear hear Scotty
Be thankful they didn't extend the issue to foreign investors.