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24-05-2020, 09:14 PM
#2351
Originally Posted by winner69
I suppose Black Crane will be fronting up with another $7 to $8m
I was going to email them about this. Their average will be 20c if they do take up their entitlement. They once suggested that OSB and other assets could be sold off to raise funds. They must be pissed that underwriters have bought $9m at 12c but UBS might be a sub-underwriter. An email went around on Thursday saying that demand at 12 was greater than the offer size. Black Crane's thesis hasn't changed, so I assume they will continue buying.
Over the next two weeks there will likely be a lot of SHH notices issued so we'll eventually see what's happening.
I'm confident that the share price will stabilise at around 20 within 2 weeks.
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25-05-2020, 09:31 AM
#2352
Originally Posted by Ogg
An email went around on Thursday saying that demand at 12 was greater than the offer size.
What email?
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25-05-2020, 10:08 AM
#2353
Member
Is there any restrictions apart from holding shares on or before 25 May as it says "eligible" from their statement below?
The Retail Entitlement Offer will be offered to certain eligible retail shareholders with registeredaddresses in New Zealand and Australia at the Record Date of 7.00pm (NZST) or 5.00pm (AEST), onMonday 25 May 2020 (Eligible Retail Shareholders). The Retail Entitlement Offer will open onWednesday 27 May 2020, and close at 7.00pm (NZST) or 5.00pm (AEST) on Tuesday 9 June 2020(unless extended). Provided they have taken up their full entitlement, eligible retail shareholders mayalso apply for additional New Shares not taken up by other retail shareholders up to a maximum of20% above their pro-rata entitlement.
The Offer Document for the Retail Entitlement Offer, containing full details of the Entitlement Offer,is attached to this announcement and will be sent to Eligible Retail Shareholders on Wednesday 27May 2020.
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25-05-2020, 10:15 AM
#2354
Originally Posted by mistaTea
What email?
An email to fund managers on Thursday morning according to AFR article.
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25-05-2020, 10:25 AM
#2355
Originally Posted by Ogg
An email to fund managers on Thursday morning according to AFR article.
Confirmed in this announcement: https://www.nzx.com/announcements/353636
Doesn't sound like we have much hope of getting the '+ 20%'
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25-05-2020, 10:37 AM
#2356
Originally Posted by mistaTea
Just as long as they haven't already got there 20% extra.
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25-05-2020, 10:44 AM
#2357
Originally Posted by Dlownz
Just as long as they haven't already got there 20% extra.
If Goldman involved anything can happen
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25-05-2020, 10:46 AM
#2358
Originally Posted by Not The Chosen One
Is there any restrictions apart from holding shares on or before 25 May as it says "eligible" from their statement below?
The Retail Entitlement Offer will be offered to certain eligible retail shareholders with registeredaddresses in New Zealand and Australia at the Record Date of 7.00pm (NZST) or 5.00pm (AEST), onMonday 25 May 2020 (Eligible Retail Shareholders). The Retail Entitlement Offer will open onWednesday 27 May 2020, and close at 7.00pm (NZST) or 5.00pm (AEST) on Tuesday 9 June 2020(unless extended). Provided they have taken up their full entitlement, eligible retail shareholders mayalso apply for additional New Shares not taken up by other retail shareholders up to a maximum of20% above their pro-rata entitlement.
The Offer Document for the Retail Entitlement Offer, containing full details of the Entitlement Offer,is attached to this announcement and will be sent to Eligible Retail Shareholders on Wednesday 27May 2020.
That essentially covers it but you also need to be a chosen one
Sorry mate
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25-05-2020, 10:52 AM
#2359
Originally Posted by winner69
That essentially covers it but you also need to be a chosen one
Sorry mate
Well, if he doesn't technically qualify he could always phone Mr Stewart and say "I know Kung-Fu...".
Worth a shot anyway.
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25-05-2020, 12:01 PM
#2360
Originally Posted by macduffy
I don't think so. Record date for the issue is Monday, ie ownership must be registered by then. As trading is currently halted and as settlement for trades is two business days, entitlements will be as per the current register.
Thanks for that information. So it is safe to sell today and still be eligible for the Retail Entitlement offer. It would make sense to sell today. Then use those funds for the 12c offer.
Last edited by see weed; 25-05-2020 at 12:04 PM.
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