I see this. The independent report does warn of a slower than predicted 'ramp up" of capacity several times.
I'm right in saying that this will be a corporate capital raising exercise?
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NZ shareholders get shafted again...
https://nzx.com/files/attachments/181593.pdf
I would like to know though if anyone has the knowledge, what the high regulatory costs in NZ are to stop the SPP being offered to NZ resident shareholders. What makes it that much more fluid and cheaper in Australia?
Yes, a nasty slap in the face for NZ shareholders and it makes a mockery of the PR hooha that accompanied the change of domicile and the addition of "NZ" to the company name. Plenty of Aust companies have managed to offer participation to NZ shareholders in the past so I think it's fair to say that the additional costs and regulatory hurdles aren't all that onerous. A poor show.
:t_down:
from brl's application for a waiver from NZX "BRL’s reasons for not proposing to extend the SPP to New Zealand Shareholders are as follows:
(a) of BRL’s approximately 4,500 shareholders, only 9 are New Zealand Shareholders. New Zealand Shareholders hold approximately 51.8 million ordinary shares in BRL, representing approximately 7.4% of BRL’s ordinary shares on issue. This amount includes a shareholding of approximately 4.9% held by one New Zealand institutional investor. This investor was invited to participate in the Placement but did not do so"
Only 9 NZ shareholders so hardly capturing the imagination of NZ investors.
I wonder how they know that there are "only 9 NZ shareholders"?
My measly holding, the remnant of a once bigger stake, is held as a "Chess" holding of one of the Australian Chess Sponsor firms on the NZ Register. Does it get lumped in and counted as an "Australian" holder?
Not that it really matters. Academic interest only as I wouldn't be intending to take up any more shares in BRL.
This can't be right 9 share holders only. I am one, bllackcap knows of 3, there is one institution,leaving 5 unaccounted for. st members please put your hand up
Another NZ holder here. 9 seems quite bizarre...
I'm another NZ holder feeling unhappy at how BRL has treated me.