There will be a few scratching their heads about handing out a reduced dividend with one hand....while simultaneously asking for money.
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What an annoying way to treat small shareholders. I was extremely busy today so missed the Jarden email. So I guess I have to take a punt on the SPP. Surely a striaght rights issue was the way to go?
When a company values it's own stock at a significant discount to the market price, it's only reasonable that the market follow their lead. For example, if a punter owned stock at the current price but committed to the discounted SPP, it makes sense that they sell now and use that money to fund the new purchase - bingo, instant capital gains. But only a couple of days or you lose your ex-Div. For that and other reasons, it's not surprising when the market re-rates the stock down to the company's lowly SPP valuation.
The whole thing looks a bit desperate, the obscene haste and compressed timeframes, the significant devaluation to market, ambushed on announcement day, waiver of the listing rules (time between announce, divi and cap raise), dilution of shareholders who cannot participate, the method of SPP instead of a rights offer. Something smells, it's just plain not a good look.
Yes I agree ...its too complicated and small investor unfriendly ...I thought Jeff was a investor friendly person ...but then I forgot he is a Banker ...lol
Max is $ 50,000 which can be scaled back ...I think cant even apply for more then 50K ...so max u can get is worth 50K ....Price is lower of either 1.80 or 2.5% discount to 5 days VWAV including last day ....so need bring it below 1.85 for 5 days to get it below 1.80 ....so if u want its better to get it in market if it goes below 1.80 ....why bother the hassles
From my past experience I have learnt that once one finds out that any company not small investor friendly ...its better to forget it as they will keep doing such stuff in future also
GNE turned out to be much better yield provider then HGH !!!! Disappointed small investor
Record date for divvy is 26th Aug ...ex on 25th then SPP opens ...so it will be ex divvy selling of 5 days which will decide price of offer if its below 1.80 !!!
Trading will resume tomorrow and only one day its cum divvy ie 24th August ...How tight ? Everything rushed
If u want 5.5 cents divvy then cant sell tomorrow ....VWAP starts from 30th August onwards
Jarden will support the SP as underwriter ...lol
Attachment 14083 whats up with this?
Help please
Webcast replay ….can you fast forward through the boring bits?
https://shareholders.heartland.co.nz...-presentations