ZEL - Z Energy.

[HKG2301]

I think the SPP is also $2.75

From the SPP notes: "The price of shares offered under the SPP will be the lower of the Placement share priceor a 2.5% discount to the 5-day VWAP of Z shares traded on the NZX during the last 5 daysof the SPP offer period", which ends 29 May.

[tango]

From the SPP notes: "The price of shares offered under the SPP will be the lower of the Placement share priceor a 2.5% discount to the 5-day VWAP of Z shares traded on the NZX during the last 5 daysof the SPP offer period", which ends 29 May.

Thanks!
That probably makes it $2.75

I see also:
Z intends to offer the SPP to eligible shareholders in New Zealand and Australia, inviting
them to apply for up to NZ$50,000 / ~A$47,000 of new Z Energy shares free of any
brokerage, commission and transaction costs
• The SPP offer size is up to NZ$60 million, and if scaling of the SPP is required, it will be done
having regard to existing holdings as at the record date of 8 May 2020
• Z can accept oversubscriptions at its discretion

I always find it hard to judge how much to put in. In this case so much has changed for Z that it's hard to assess the value.

ironically I bought ZEL as a dividend stock. That's well down the gurgler

[HKG2301]

Ironically I bought ZEL as a dividend stock. That's well down the gurgler

You and me both!

I won't make a decision on participating in the SPP 'til the last moment. As discussed elsewhere, I reckon there's still a huge risk that the US markets will collapse from these levels and drag us down with them.

Early days.

[dibble]

...I always find it hard to judge how much to put in. In this case so much has changed for Z that it's hard to assess the value.

Dont forget.... the more you apply for the less you will get if there are oversubs (ie as you are helping create the oversub maths). That's the quirk of this system. That said odds of oversubs are probably a lot slimmer than AIA, indeed you may get all 50k if you scribble that in your application.

[value_investor]

Such bad company news = share price will go up this week?

No worries

I don't see any positives here but based on the recent share market logic, this is going to be up massively right?

Not sure what you would see to participate here. Company is in the sunset phase in its industry. Not a strong fundamental position. Can't do much from a strategy point of view, price is monitored by the government, no room for future growth, high fixed costs and a weak balance sheet.

Disc: Not a holder.

[kiwico]

You and me both!

I won't make a decision on participating in the SPP 'til the last moment. As discussed elsewhere, I reckon there's still a huge risk that the US markets will collapse from these levels and drag us down with them.

Early days.

I too was a holder for the dividend but glad I move them on at a higher price. The trouble is that higher price was higher than I bought them at.

[JohnnyTheHorse]

Bit of desperation if Jarden are accepting applications from Direct Broking clients? Pretty unusual if the issue is even slightly popular.

[Beagle]

I don't see any positives here but based on the recent share market logic, this is going to be up massively right?

Not sure what you would see to participate here. Company is in the sunset phase in its industry. Not a strong fundamental position. Can't do much from a strategy point of view, price is monitored by the government, no room for future growth, high fixed costs and a weak balance sheet.

Disc: Not a holder.

An excellent synopsis. Really surprised they got support for this capital raise. I will continue to avoid.

[trader_jackson]

shares issued at $2.90, share price opened at $3.08... the faith is incredibly strong in this one!
As mentioned before, I personally can't get excited paying more than about $2.

[Balance]

Bit of desperation if Jarden are accepting applications from Direct Broking clients? Pretty unusual if the issue is even slightly popular.

http://nzx-prod-s7fsd7f98s.s3-websit...967/322361.pdf

Not only popular but heavily over-subscribed - the price was bid to $2.90 (vs u/w price of $2.75).

Not a shareholder but pleased to see that there's plenty of appetite and money out there to support companies through this rough patch.