Tied up 50k for weeks just for a few shares, pointless. Maybe that was their plan to skim off all the interest
In todays interest rate world, excess applications of $81m at 1% pa (if you were lucky for on call money) retained for a week would come to $15,577. This amount is petty cash compared to legal, share registry and NZX fees of undertaking the SPP.
I applied for 765 and got the lot. Maybe because I'm an existing shareholder ~ 8000 and have some IFT290 bonds.
I just used the SPP to reinvest my recent dividend, and got all I applied for too.
Only existing shareholders could apply for the SPP. Anyone who applied for just enough to avoid being diluted by the wholesale placement (about 10% of existing holding) would have got their full allocation, only those who applied for extras over and above their pro rata share would have been scaled.
I applied for 765 and got the lot. Maybe because I'm an existing shareholder ~ 8000 and have some IFT290 bonds.
Lucky I guess.
congrats on getting in with 8000 shares. I bought them as a "maybe" and only have around half of that. I would have loved to have bought more when they were cheap. That's investing for you
My holding cost on these is now ~$3.40 having bought in Nov 2016 and again in Dec 2018. Despite me moaning about the excessive management fees Morrison & Co charge I'm showing a total return of ~25%. So mustn't grumble.
Originally Posted by tango
congrats on getting in with 8000 shares. I bought them as a "maybe" and only have around half of that. I would have loved to have bought more when they were cheap. That's investing for you
A quote attributed to Margaret Thatcher goes along the lines of "The problem with socialism is that eventually you run out of other people's money."
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