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13-03-2017, 11:14 AM
#8941
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13-03-2017, 11:53 AM
#8942
Exactly 777. It has become a big disincentive to partake in SPPs where we are offered to apply for decent amounts paid up front, amounts that more often than not are largely refunded.
In this case the result is pretty much as I expected and both allottment and refunds being done fairly swiftly. But surely it is time to change this process. May be an issue to bring to the Shareholders Association!?
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13-03-2017, 12:46 PM
#8943
Imagine the shambles if they did not have the money up front!
Some who applied for them would not have the money in their account. And then they would have to try to fairly re-allocate the shares not taken up.
While I don't like it either...it's probably the cleanest way to do business. Given that Heartland is a bank, it's a pity they couldn't give us some interest while holding the funds.. although as Roger pointed out, the amount is not really significant.
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13-03-2017, 12:46 PM
#8944
Originally Posted by iceman
Exactly 777. It has become a big disincentive to partake in SPPs where we are offered to apply for decent amounts paid up front, amounts that more often than not are largely refunded.
In this case the result is pretty much as I expected and both allottment and refunds being done fairly swiftly. But surely it is time to change this process. May be an issue to bring to the Shareholders Association!?
Yes very much as expected.
And agree it would be an issue The Shareholders Assn could have some input with NZX about.
I have never liked SPPs, and have only used spare "rainy day" money for them,if I have been bothered to apply at all.
Last edited by percy; 13-03-2017 at 01:03 PM.
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13-03-2017, 12:58 PM
#8945
RTM & Roger as I understand it, it is the Registry that holds the funds, not the listed company. In this case Link Market Services. But I don't think interest is the issue. It is the opportunity cost of the funds earmarked for the SPP and no doubt there are many SH now disappointed that they could have afforde $4.8k but not $15k.
Anyway my "debate" is not specific to this SPP which has been clear and swift and I am happy with my allocation It's about whether we can not have a better process for SPPs in the future and probably belongs to a separate thread 😀
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13-03-2017, 01:43 PM
#8946
Ahhh they should have taken 40 million! didn't even need to get those cheeky institutional fellas onboard
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13-03-2017, 01:56 PM
#8947
A renouncible rights issue would have been a far fairer system and obviously it would have been well supported.
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13-03-2017, 02:03 PM
#8948
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13-03-2017, 02:11 PM
#8949
Be thankful they didn't extend the issue to foreign investors.
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13-03-2017, 02:36 PM
#8950
Originally Posted by SCOTTY
A renouncible rights issue would have been a far fairer system and obviously it would have been well supported.
Agree....................
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