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10-08-2020, 05:58 PM
#381
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.
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10-08-2020, 06:23 PM
#382
Originally Posted by Brain
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.
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10-08-2020, 08:48 PM
#383
Originally Posted by Brain
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.
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10-08-2020, 08:58 PM
#384
Originally Posted by percy
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.
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10-08-2020, 09:49 PM
#385
Originally Posted by sb9
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 09:51 PM.
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10-08-2020, 09:54 PM
#386
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”
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10-08-2020, 11:21 PM
#387
Originally Posted by percy
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.
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11-08-2020, 07:50 AM
#388
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.
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11-08-2020, 07:56 AM
#389
Originally Posted by Timesurfer
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.
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11-08-2020, 08:45 AM
#390
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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