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27-11-2020, 11:41 AM
#4521
Originally Posted by RupertBear
I also stumped up $36k and got 13,649 shares. I probably should have applied for less but hey happy enough with what I got. I topped up a few this morning so I now have an even number of shares Bears hate uneven numbers
Doing the maths you started with 100,000 shares! I had half of that
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27-11-2020, 11:43 AM
#4522
Have rung the registry re refunds, the lady advised that they'll be done by next week 3rd Dec.
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27-11-2020, 11:45 AM
#4523
Originally Posted by Baa_Baa
The thing is though, you/we had no guarantee of an over subscription, so it was possible that you got the full 30,000 that you applied for. No one could know that in advance. I've seen SPP's under subscribed and folks who put up for heaps more than they actually wanted (in case it was scaled), then boom, they got the whole lot they applied for and had to sell a heap on market, at a loss!
Rights issues doesn't guarantee anyone any more shares than whatever the 1-for-X at a discount is, which is similar to scaling based on current holdings .. but adds in the complications that the rights can be taken up, ignored, or sold on market, all the while the discount and dilution affects the SP on market.
There's no silver bullet, think about it this way, a few short months ago (July and prior) you didn't bid for (want) 30,000 shares on market for $1.20 or less, then all of a sudden when the cap raising was announced, you were prepared to quadruple your holding. See how it screws with your head?
Most rights issues have an option to oversubscribe by a multiple of the rights issue so that makes it fairer for everyone. You get your allocated amount and if others don’t take up their allocation you can pick up extra in the over-subscription.
It sets appropriate expectations and stops excess cash being held by the registrar
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27-11-2020, 12:09 PM
#4524
Originally Posted by tango
Doing the maths you started with 100,000 shares! I had half of that
I bit the fear bullet and did a Couta when it went down to $0.50 over Lockdown. Fair to say I had a few sleepless nights! Also fair to say I watch it like a hawk!
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27-11-2020, 12:55 PM
#4525
Originally Posted by RupertBear
I bit the fear bullet and did a Couta when it went down to $0.50 over Lockdown. Fair to say I had a few sleepless nights! Also fair to say I watch it like a hawk!
I got greedy. I had an order in at 42 cents during the crash and the market looked like it would drop more so I dropped to 37 cents and missed out. Ended up buying later in the 60s and 70s. Still cheap but I cost myself because I got stubborn about buying at the higher price. Coulda shoulda woulda. That’s life. I still did well out of the crash!
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27-11-2020, 01:03 PM
#4526
Member
Originally Posted by sb9
Have rung the registry re refunds, the lady advised that they'll be done by next week 3rd Dec.
thanks for this sb
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27-11-2020, 03:15 PM
#4527
Junior Member
Originally Posted by tango
Most rights issues have an option to oversubscribe by a multiple of the rights issue so that makes it fairer for everyone. You get your allocated amount and if others don’t take up their allocation you can pick up extra in the over-subscription.
It sets appropriate expectations and stops excess cash being held by the registrar
There isn't much right issues anyway if you go through their announcements. Maybe a few millions shares only. Not really a big deal.
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27-11-2020, 05:15 PM
#4528
Member
9.36% from the SPP! Need the funds now to top up!
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28-11-2020, 09:16 AM
#4529
Yeah, all those who wanted to purchase the full 50k in the SPP now have a chance to load up bigly. I assume by the time refunded amounts come back to shareholders there will be a little surge or buying?!
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28-11-2020, 09:33 AM
#4530
Member
Originally Posted by Checkmate
Yeah, all those who wanted to purchase the full 50k in the SPP now have a chance to load up bigly. I assume by the time refunded amounts come back to shareholders there will be a little surge or buying?!
Yeah would not be surprised if see 1.25 by end of next week due to all those that participated in the SPP flooding the rest of there left overs into 1.20 or trying to.
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