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15-04-2021, 09:50 AM
#8851
Junior Member
Thinking exactly like you are Justakiwi
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15-04-2021, 09:51 AM
#8852
Originally Posted by justakiwi
Will be interesting to see how they treat the little guys like me, who only applied for a minuscule amount. Maybe they will favour “significant” shareholders over “drop in the ocean” holders?
They said they would be fair
So hopefully both you and beagle will get your ‘fair share’ . (Relative to holdings and not amount thrown into the pot)
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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15-04-2021, 10:02 AM
#8853
Great minds think alike
Originally Posted by winner69
They said they would be fair
So hopefully both you and beagle will get your ‘fair share’ . (Relative to holdings and not amount thrown into the pot)
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15-04-2021, 10:13 AM
#8854
Member
Originally Posted by justakiwi
Great minds think alike
the offer document said "Oceania Healthcare is seeking to raise up to NZ$20 million under this Retail Offer, withthe ability for Oceania Healthcare to accept oversubscriptions at its discretion".
but no mention of increasing the size of the issue in today's announcement. Given the size of the over-subscription, not doing so is very poor form I think. Further poor treatment of retail shareholders
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15-04-2021, 10:19 AM
#8855
They also didn’t say they wouldn’t accept the over-subscriptions. Maybe we just wait and see.
Originally Posted by jg8512
the offer document said "Oceania Healthcare is seeking to raise up to NZ$20 million under this Retail Offer, withthe ability for Oceania Healthcare to accept oversubscriptions at its discretion".
but no mention of increasing the size of the issue in today's announcement. Given the size of the over-subscription, not doing so is very poor form I think. Further poor treatment of retail shareholders
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15-04-2021, 10:22 AM
#8856
Cant win with some people, OCA make up a large part of my portfolio and I had no spare cash to apply and I am still happy.
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15-04-2021, 10:31 AM
#8857
Originally Posted by justakiwi
They also didn’t say they wouldn’t accept the over-subscriptions. Maybe we just wait and see.
Actually - they did. Just chew yourself through the Appendix 2 A they released today (https://announcements.nzx.com/detail/370675). They are applying to create new shares for exactly $20m (you need to know how many shares they had outstanding prior to this CR, subtract this number from the number of new shares they claim and multiply that with the price per new share). $20m - no oversubscription.
Only question left is - how they distribute these new shares.
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"Prediction is very difficult, especially about the future" (Niels Bohr)
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15-04-2021, 10:35 AM
#8858
Member
Originally Posted by justakiwi
They also didn’t say they wouldn’t accept the over-subscriptions. Maybe we just wait and see.
yes, agree we have got to wait and see. They did say "While Oceania Healthcare has attemptedto make the Retail Offer as fair as possible for EligibleShareholders by increasing the individual application capfrom NZ$15,000 (the limit for shareholder share purchaseplans under the NZX Listing Rules) to NZ$50,000 and by providing that any scaling will have regardto individual shareholdings at the relevant Record Date ... the Retail Offer is not inaccordance with your proportionate shareholding."
I think they have to increase the offer size, otherwise they'll effectively undermine the claim that they tied to be as fair as possible including by increasing the cap from $15k. They can't really say that, not increase the offer size, and then still cap allocations at, say, $15k.
Yes, of course, we all know that this was not a proportionate or rights offer.
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15-04-2021, 10:41 AM
#8859
Member
Originally Posted by BlackPeter
Actually - they did. Just chew yourself through the Appendix 2 A they released today ( https://announcements.nzx.com/detail/370675). They are applying to create new shares for exactly $20m (you need to know how many shares they had outstanding prior to this CR, subtract this number from the number of new shares they claim and multiply that with the price per new share). $20m - no oversubscription.
Only question left is - how they distribute these new shares.
sorry BP our posts crossed. good spot. yip, no over-subscription. Poor, IMHO.
I did split my request over a few holdings ... I wonder how they treat it?
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15-04-2021, 11:06 AM
#8860
Thanks for that. I’m a very happy small holder right now. If I get the few I applied for, I will be be even happier, but if not, no worries
Originally Posted by BlackPeter
Actually - they did. Just chew yourself through the Appendix 2 A they released today ( https://announcements.nzx.com/detail/370675). They are applying to create new shares for exactly $20m (you need to know how many shares they had outstanding prior to this CR, subtract this number from the number of new shares they claim and multiply that with the price per new share). $20m - no oversubscription.
Only question left is - how they distribute these new shares.
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