Your first sentence is rubbish. You do not have MEL until the extra $0.50 is paid and you can't pay that until 5th?? May at the earliest. You have MELCA until then. You don't have the same number of MELCA and MEL, ever.
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Excellent thanks huxley. Lots of good info there. I think there is enough uncertainty re whether Tiwai will go sooner or later. That creates uncertainty longer term. Thanks for your thoughts too dingo; I'm not as sure as you are atp. Im surprised there is not more discussion here; investors living in the moment maybe; a little blasé', maybe. with the runup in s/p..
Its actually quite simple really. You will be able to trade MEL on a delayed delivery basis. If you call your broker to sell MEL and they check your holding and you have none, they will not allow you to sell. Once you have paid the 50 cents per installment receipt and have been allocated your MEL you can then sell them.
And according to my broker there is currently no way to verify your MEL holding until listing date. So how many MEL do you hold that can be traded on a deferred payment basis from 30 April??? Who keeps count of your trading balance?
If previous MELCA holding is used to establish a theoretical MEL holding, and MELCA is no longer listed (so no current trading balance), and MEL is not yet allocated, what is to stop a dodgy person selling their MEL shares several times over? Buyers may not actually get the shares at the price they thought.
If MEL trading doesn't start after MELCA is removed, what does that do to share price and liquidity? The MEL shares aren't actually allocated until about a week after the payment window closes mid May.
Nice divvy in the bank today..some help towards paying the instalments money :t_up:
Good to see the SP back up, been a real roller coaster ride after the instalment payment announcement... Might start seeing some more gains after the repayment due to shorter supply? I can't see many people selling straight after paying 50c.
Due to the short time allowable for making payments it is conceivable that some will simply not pay, and those shares could appear on the market.
I know that I will likely be travelling in may and I had to check that I would be in a position to receive the details on how to pay within the time period.