Yes there will be,but not sure how much.
In the top right hand corner of the SPP application form their is a box for Broker name/Advisor code,so they can "clip the ticket."
Printable View
The bank of England has recently published a couple of little pdfs:
Money in the modern economy
Money creation in the modern economy
useful reading for all and essential reading for bank shareholders.
Best Wishes
Paper Tiger
They can only take oversubs if it was explicitly mentioned.
So when you & I get our monies back we will be buying on market given we think it is such a wonderful company and we wanted more.
Won't we?
Best Wishes
Paper Tiger
Course you will, psychologically you feel you've missed out so to get back in the perceived winning circle you may be compelled to buy;). I passed so i feel I'm a winner by doing nothing and can gloat to self as the s/p comes back; ....tricking myself again.
Well...I hope all the SPP money is in an interest bearing account and that Heartland gets the interest rather than Link! I prefer the traditional rights issue procedure.
GENERAL: HNZ: HNZ Share Purchase Plan Closes Oversubscribed
HNZ
19/03/2014 16:19
GENERAL
REL: 1619 HRS Heartland New Zealand Limited
GENERAL: HNZ: HNZ Share Purchase Plan Closes Oversubscribed
NZX Release
HNZ Share Purchase Plan Closes Oversubscribed
19 March 2014
Heartland New Zealand Limited ("Heartland") (NZX: HNZ) is pleased to advise
that its Share Purchase Plan ("SPP") has closed oversubscribed. The SPP
offer closed at 5.00pm on 18 March 2014. Under the SPP, Heartland sought to
raise up to $5,000,000 by offering eligible shareholders the opportunity to
subscribe for new shares having a maximum total value of $15,000 per
shareholder. The issue price will be announced upon market open on 20 March
2014 and will be calculated as the lesser of:
(a) a 2.5% discount to the average end of day market price of shares over the
5 day trading period from 13 March to 19 March 2014; and
(b) $0.855 per share (being the price paid by investors in the equity
placement, reduced by the amount per share of the cash dividend declared by
Heartland on 25 February 2014).
The SPP offer received strong shareholder support with Heartland receiving
applications totalling $20,475,000 which exceeded the offer maximum of
$5,000,000 by $15,475,000 or 309.5%. In accordance with the terms and
conditions of the SPP, Heartland will scale back all applications on a
proportionate basis, based on the total amount of application moneys received
from all applicants (and any rounding of the number of shares to be allotted
will be up to the nearest share).
Shares to be issued under the SPP offer are expected to be allotted on 25
March 2014, with refunds direct credited or mailed by cheque to shareholders
within 5 business days of the allotment date. No interest will be paid on
any application monies returned to shareholders.
- Ends -
For further information please contact:
Jeff Greenslade
Managing Director
Heartland New Zealand Limited
DDI 09 927 9149
End CA:00248417 For:HNZ Type:GENERAL Time:2014-03-19 16:19:01