SUM - Summerset Group

[minimoke]

Strike price NZ$6.615 Today trading opening at $6.78. You wont see me complaining at this brokerage free addition to my portfolio. Nad better yet - I dint have to try to time the market.

[dabsman]

On my ANZ/WBC shares I have a DRP account and all leftover funds (less than the value of 1 share) sit in it and gets added to next payment. I didn't see this with the SUM DRP - is this happening in the background or did I just miss it?

[winner69]

On my ANZ/WBC shares I have a DRP account and all leftover funds (less than the value of 1 share) sit in it and gets added to next payment. I didn't see this with the SUM DRP - is this happening in the background or did I just miss it?

Good question

I’ve had a look back on the last couple of statements and it appears as if we lose the bits left over ...or if they keep them to help out next time it’s not that obvious like those ANZ statements you mentioned but then part of $30 is more than part of $6

If so ...miserable bastards ....was $2.95 last divie

[dabsman]

OK at least I'm not going crazy. I checked my statements too and it isn't obvious. So is that a call to Link or Summerset?

[minimoke]

Good question

I’ve had a look back on the last couple of statements and it appears as if we lose the bits left over ...or if they keep them to help out next time it’s not that obvious like those ANZ statements you mentioned but then part of $30 is more than part of $6

If so ...miserable bastards ....was $2.95 last divie

By my reckless math calculations I figure I am 0.54 of a share out. Should I expect a cheque in the mail for full shares not bought?

[winner69]

OK at least I'm not going crazy. I checked my statements too and it isn't obvious. So is that a call to Link or Summerset?

Link probably ...I’ll be lazy and leave it up to chase up for us

Well done

[dabsman]

Just talked to Link. She checked the offer document and there is no residual roll over. So they will round down to the nearest whole share amount and the residual disappears... oh well up to $6 a time could be lost - soon to be $7 then $8 by 2019...

[winner69]

Just talked to Link. She checked the offer document and there is no residual roll over. So they will round down to the nearest whole share amount and the residual disappears... oh well up to $6 a time could be lost - soon to be $7 then $8 by 2019...

Well done mate

At least they have the decency to show you how much you miss out on the dividend statement ....but you would think that if it’s done for other companies they could do it for Summerset

Probably common / best practice for an unsophisticated NZX exchange.

Won’t be losing any sleep over it but if it’s in the fine print sobeit

[Beagle]

SUMwhat less than ideal though isn't it. I think most companies have a carry forward process on residuals don't they ?

[percy]

There you are,your next crusade,SUM again..No Norah though.!..lol.