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  1. #381
    Alley Cat Brain's Avatar
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    It states in the offer document that a max of 14.6m new shares will be issued which represents 1 for 7 issue on the current no of issued shares. Everybody Who has applied will get the 1 for 7 but expect significant scaling on the additional shares. My guess is that I will be lucky to get 25% more.

  2. #382
    percy
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    Quote Originally Posted by Brain View Post
    It states in the offer document that a max of 14.6m new shares will be issued which represents 1 for 7 issue on the current no of issued shares. Everybody Who has applied will get the 1 for 7 but expect significant scaling on the additional shares. My guess is that I will be lucky to get 25% more.
    I wonder whether the board in their wisdom will issue a statement ?
    The board has been overwhelmed by shareholders support,and has decided to reward all those who applied for extra shares,by accepting their monies.
    Therefore the amount raised will increase by $xxx......
    Living always in hope...lol.

  3. #383
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    Quote Originally Posted by Brain View Post
    It states in the offer document that a max of 14.6m new shares will be issued which represents 1 for 7 issue on the current no of issued shares. Everybody Who has applied will get the 1 for 7 but expect significant scaling on the additional shares. My guess is that I will be lucky to get 25% more.
    I think you’re right, while rights are guaranteed, not sure if extras that you apply for are 100% guaranteed. Depends on demand and available shares left out from remainder of rights uptake.
    Given strong sp and demand coming from across the ditch, doubt any eligible shareholder would be silly not to apply for their share of rights.

  4. #384
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    Quote Originally Posted by percy View Post
    Dear Shareholder,



    Payment by direct debit - ikeGPS Group Limited Entitlement Offer.

    We confirm the receipt of your acceptance and direct debit instructions for participation in the ikeGPS Group Limited Entitlement Offer.

    Per your application, $xxxxxxx has been debited from your nominated bank account on 03/08/2020.

    The New Shares acquired under the Entitlement Offer will be allotted on Wednesday, 19 August 2020.

    If you have any questions please do not hesitate to contact us by reply email.



    Yours sincerely,

    Link Market Services Limited

    .
    Yeah, just got the same email. And I don’t think extra shares applied are a 100% given and there could be heavy scaling for those.

  5. #385
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    Quote Originally Posted by sb9 View Post
    Yeah, just got the same email. And I don’t think extra shares applied are a 100% given and there could be heavy scaling for those.
    Agree.

    My reading of it is that you have an ENTITLEMENT of one share for every seven shares that you own. On top of that you can APPLY for additional shares.Those additional shares are only available if other shareholders elect not to take up their entitlement. I expect that those additional shares will be scaled. I don’t see anything in the offer document that says that they can accept oversubscriptions.

    From the offer: “ Those who have taken up all of their entitlements in full may apply for additional New Shares up to an additional 100% of their pro-rata entitlement by completing the appropriate section on the Entitlement and Acceptance Form, or as directed by the online application. Payment must be made for both your entitlements and any additional New Shares for which you wish to apply.“
    Last edited by tango; 10-08-2020 at 08:51 PM.

  6. #386
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    From the terms of the offer:

    “Allocations and any necessary scaling of additional New Shares applied for by Eligible Retail Shareholders who take up their Entitlements in full will be determined by ikeGPS and the Lead Manager”

  7. #387
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    Quote Originally Posted by percy View Post
    I wonder whether the board in their wisdom will issue a statement ?
    The board has been overwhelmed by shareholders support,and has decided to reward all those who applied for extra shares,by accepting their monies.
    Therefore the amount raised will increase by $xxx......
    Living always in hope...lol.
    I was hoping after I filed my application that they were going to announce that they were closing the offer early as they had fulfilled their funding goals. Otherwise I could have sat on my money for longer.

  8. #388
    percy
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    Was not sure I could do it.I usually have to get my broker to take up my entitlements.
    Thought I would give it a go on the Saturday morning,and surprised myself I complete the task successfully.

  9. #389
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    Quote Originally Posted by Timesurfer View Post
    I was hoping after I filed my application that they were going to announce that they were closing the offer early as they had fulfilled their funding goals. Otherwise I could have sat on my money for longer.
    Ha ha. I love your optimism. You can’t close an offer early when people have entitlements!

    And I see nothing in the offer document about allowing over subscriptions but I might have missed it in the fine print.

  10. #390
    Alley Cat Brain's Avatar
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    I cannot remember any example of a share price holding up so well during a new issue. Trading @ 92 c with an issue price set at 68c. I think that we will be very lucky to get 10% additional shares.

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