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Member
Anyone know how long it takes for funds to be transferred to Computershare?
I was a bit unorganised and won't be able to transfer my Investore money to them until tomorrow morning. The application closes at 5pm tomorrow so wondering if I could get away with transferring my funds so late. I'm with Westpac who are pretty fast processing transfers so hoping it will be ok
Also haven't noticed ASB or ANZ securities offering any Investore IPO shares?
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Originally Posted by Kelvin
Anyone know how long it takes for funds to be transferred to Computershare?
I was a bit unorganised and won't be able to transfer my Investore money to them until tomorrow morning. The application closes at 5pm tomorrow so wondering if I could get away with transferring my funds so late. I'm with Westpac who are pretty fast processing transfers so hoping it will be ok
Also haven't noticed ASB or ANZ securities offering any Investore IPO shares?
I have no idea about other banks, but I do know transfers from Westpac to Westpac are instant. Any online deposits to Westpac are now instant also. I can't imagine any problem as long as payment is made before close off on last day, but the answer may depend on which bank account computershare uses. However if you are concerned about timing of funds why not ring your bank manager, explain that you might be outside your arrangements for a day and why, and you'll probably be okay to pay today.
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.....so FP, just to clarify (as a current STRIDE S/Holder) we dont have to do anything at all and we automatically receive the INVESTORE 1:4 allocation?? (hate to get this wrong for my dear old Mum but busy on the boat at the mo!) Cheers
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Originally Posted by GR8DAY
.....so FP, just to clarify (as a current STRIDE S/Holder) we dont have to do anything at all and we automatically receive the INVESTORE 1:4 allocation?? (hate to get this wrong for my dear old Mum but busy on the boat at the mo!) Cheers
Yes, that's absolutely clear in the proposal.
You will automatically receive shares in the management company and also in investore.
You do not need to do anything; however as a stride shareholder you are entitled to buy more investore shares if you want. Read Kelvin's post above - sounds like tomorrow is final day.
So for every 1000 stride shares you will receive 1000 shares in management company, Stride investment management company (SIML), and 250 shares in Investore.
This will mean dividends from Investore and Stride will continue as PIEs but dividends from SIML will not be PIEs.
If you have a copy of product disclosure statement or a PDF of same if you have elected electronic communication, then page 15 gives timeline or key dates.
That's how I read it anyway.
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Member
Friday is the record date, so any Stride shares you hold at the end of Friday will automatically get the SIML/Investore allocation.
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.....thanx FP, just checking.
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Originally Posted by GR8DAY
.....thanx FP, just checking.
There's a mention in NBR about some fund manager - critical of investore being one sided. I'm not a subscriber so not sure what it says, but it seems to me stride shareholders will benefit more than investore from the demerger.
http://www.nbr.co.nz/
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Originally Posted by Kelvin
Seems like high demand for Investore shares under the Stride Shareholder offer - over $45m of applications for $15m worth of shares.
so:
- All applications fully allocated up to 3,000 shares
- Beyond this, a scaling rate of 21.7% was applied, subject to a maximum allocation of 10,000 shares
It will be interesting to see price of investore and stride tomorrow. Will they add up to more than last str price of $2.35 ?
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Member
Investore opened at $1.60, Stride opened at $1.97, so that's equivalent to $2.37 pre-demerger (I think)
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