HGH - Heartland Group Holdings

[SCOTTY]

I think you will find that Scotty has interpreted his/her ability to apply for excess entitlement (and pay for it upon application, as you are required to do) as being an actual allotment, which of course it is not.

Like the rest of us he/she will be refunded all or part of that application cost in good time after the offer closes and the necessary calculations are done to underpin the true number of shares to be allocated.

Hi ronaldson. Yes I think you are probably correct as I assumed (probably wrongly) that they would be accepting over subscriptions.

[777]

Hi ronaldson. Yes I think you are probably correct as I assumed (probably wrongly) that they would be accepting over subscriptions.

They take your money but none of the shares, entitlement and extra applied for, will be issued until after close.

[mshierlaw]

AFAIK they can close the offer at any time. Maybe they decided to just allocate to the bulls who got in early and wanted more size?

NVM Snoopy, you can buy on market at $1 and maybe under next week.

Agree ... share price will likely go below $1 after entitlements are processed. I have applied for 100% over subscription but don't expect to get anything like that amount. Hoping for on market purchase after issue at a sharp price to bolster my stake.

Here's hoping the Australian dream comes to fruition.

[ziggy415]

Highly irregular.

Nothing to stop someone taking the full allocation plus 100% and selling their existing shares today for quick profit.

Stinks!

Surely if for every 6.85 shares you get 1 share for 1 dollar then total shares on issue you get a finite amount of new shares and ability to get 100% gives 2 new shares per 6.85 shares on issue and if everybody takes up entitlement plus 100% then underighters get none left over

[Snoopy]

Surely if for every 6.85 shares you get 1 share for 1 dollar then total shares on issue you get a finite amount of new shares and ability to get 100% gives 2 new shares per 6.85 shares on issue and if everybody takes up entitlement plus 100% then underwrighters get none left over

That's not how I read it. The 1:6.85 entitlement covers the whole $105m being raised from existing shareholders. If you bid for more shares than that, then your bonus shares requested will come from the pool of shares allocated to existing shareholders like X-men, who do not take up their rights. If there aren't enough overbids to take the shareholder applied for shares up to $105m, then and only then, will the underwriters come in to soak up the balance for which there are no existing shareholder buyers.

SNOOPY

[RTM]

That's not how I read it. The 1:6.85 entitlement covers the whole $105m being raised from existing shareholders. If you bid for more shares than that, then your bonus shares requested will come from the pool of shares allocated to existing shareholders like X-men, who do not take up their rights. If there aren't enough overbids to take the shareholder applied for shares up to $105m, then and only then, will the underwriters come in to soak up the balance for which there are no existing shareholder buyers.

SNOOPY

Yes...thats what I think as well.

[777]

I am leaving my final decision until Monday. At this stage I will let them go. Shelling out a pile of money for little short term gain isn't worth the bother. I have enough without them anyway.

[Snoopy]

I am leaving my final decision until Monday. At this stage I will let them go. Shelling out a pile of money for little short term gain isn't worth the bother. I have enough without them anyway.

I think you are too late now. When James Bond applied for some shares yesterday (Thursday), he got the following response from Link/Heartland.

Direct Debit details
"Your bank account 00-0000-0000007-00" will be direct debited by the end of the next business day. Please ensure sufficient funds are available."

The offer ends at 3pm on Monday 22nd April. So by the time you give the instruction on Monday, the money won't come out of your account until Tuesday evening, by which time the offer will have closed. In fact even if you completed your order form today (Friday) that wouldn't be processed until after 5pm on Monday, which is after the 3pm closing deadline. So the cut off date for applications seems to have been the close of business on Thursday, despite the banks crowing about their new digital clearance system that can transfer money between accounts between NZ banks in just a few hours.

Of course if Link/Heartand gave you the number of the bank account into which they wanted your cash issue money deposited to, then you could do it yourself on Monday. But Link/Heartland have not given you that.

SNOOPY

P.S. Just checked my own account tonight (Friday) after filling out my application form on line on Thursday. The money has been taken.

[Rawz]

Offer closes 5pm nzt Monday. I’m sure if they get the paperwork they will stay late to run the direct debits.

SP so close to $1 now I reckon why bother as well. Now highly likely it will go under $1. Just my opinion, often am wrong

[Snoopy]

Offer closes 5pm nzt Monday. I’m sure if they get the paperwork they will stay late to run the direct debits.

Rawz you are correct and I was wrong. The closing time for cash issue applications is indeed 5pm on Monday 22nd April. The 3pm figure that I had remembered from the document is the local closing time in Australia. (AEST). I guess they are currently two hours behind us on the East Coast?

I see on page 8 of the offer document under note 1
"Heartland reserves the right to amend the timetables (including by extending the closing dates for the Offer or accepting late Applications, either generally or in particular cases) subject to the NZX Listing Rules."

So they may indeed stay late to work through those direct debits if they get the paperwork. But as you said it does depend on them getting the paperwork. But the receipt form I received said the paperwork would not be processed until the close of business on the following day (which from personal experience is what happened to me). That means Tuesday if you put your form in on Monday. This suggests to me that e-forms filled out on Monday will not 'get through' until Tuesday and won't be processed.

SNOOPY