If you're asking for $30 million, the answer better be "sh*tloads".
Printable View
What do you guys think the chances are of us getting 50% of what we applied for?
This is what I did and I think most people that are experienced investors do about the same when a SPP is over subscribed. Ask for 200% and you might receive what you are entitled to when scaled. Not much point asking for much more if it's oversubscribed, you will just temporarily lose access to more money for the same result.
Think he means if you have 20k ask for 40
Yes, you can ask for all $5m if you want, but of course you won't get it. But you need to be able to front up with the $100k and be OK with that sitting in someone else's account for a month or so and be OK with it being filled if it's not oversubscribed (unlikely in this case). There is risk associated, so as with all risky endeavours, analyse what's best for you, your appetite for risk etc.
Applied for my allocation today and confirm max allocation is $50k (ie Blobbles post #4407 is not correct.)
Believe this will be like the massively scaled IFT SPP with 20k holding receiving 5k @ $1.20
Why would todays approval for listing on the ASX not seem as price sensitive on the NZX
Because they want to look like it was already known by the market?
'Woo hoo' indeed ...... and good luck to you too Baa Baa.
Great to see the boxes being ticked.... step by step the plan is unfolding and the next 12 months are going to be v interesting.
FWIW I'm already overweight in PLX/PL1 so not too worried about the allocation. Woo hoo! ;)
I was being facetious sorry. I mean theoretically you could have approached the company directly and said "I will give you $5m for all the shares", but there are rules etc they have to follow. Us retail plebs usually don't have the power, so of course you are limited to the maximums they setup within their rules.
Quick one. Turns out I didnt end up apply for the maximum due to funds being tied up however did apply for 13750 shares.
I have now freed up some additional funds.. The question is can I submit another application for the additional 27916? Understand there is likely to be some heavily scaling, so wish to put more funds in.
Second question how long does it take register to transfer back funds that are not used?
Answers have been obtained.
so SP up today, do we know why there is strong support for PLX given the upcoming placement? Surely we expect some pullback towards $1.20 once the placement is done?
Basically;
1. Yes can transfer additional funds - up to the max - Has to be received by 5pm 24.11.20
2. Up to 7 days for any funds to be transferred back
So the listing on the ASX is a go,the big question is when do the insto's get their hands on the $30m worth of shares @$1.20.Because with the SP at $1.35 there could be a serious sell of to take short term profits,
I have not applied for the full 50K's worth but kept 10K back in case of a short term tumble in the SP,if the price goes below $1.30 I will top up,would hate to miss out on an opportunity if all my cash was tied up in the SPP
When I went to complete my application it came up with:
Your calculated application size:
Share amount: XXX shares Dollar amount: $XXX NZD.
Does anyone know if this is indicative of what we can expect to receive? It's less than the full $50K so I am wondering if there is any point applying for $50K
I've never seen this before and I wonder if PLX already have some idea of how much shares will be scaled. Maybe based on the number of retail investors, etc.
I thought that was more to do with how much you needed to apply for to not have dilution of your shares.
Online applications must be paid by direct credit. Direct credit payment details will be provided to you after you have submitted your application.
If you wish to keep your current record date shareholding percentage in Plexure, then you should apply for the application size calculated for you below. You may apply for any amount up to $50,000 regardless of your current holding in Plexure. Please note for a small number of shareholders, the $50,000 cap means that they will not be able to retain the same percentage shareholding through the offer.
Your calculated application size:
No I think that is just a little double check on their behalf in terms of how many shares you think you are applying for. If the share amount and dollar amount (shares x $1.20 =) differ then they might take the lowest of either figure as your request. So important to check your maths. Scaling wont happen until the offering is closed (2pm today), so they know level of interest and they can then look at scaling, to be advised by the end of November. $5m is not very much so I would suggest we will get about 1/3 of the request, but hard to know really.
deleted xxx
No issues at all the SPP is quite new to me so want sure if I was right or wrong.
In the past SPP process was a pain, imagine having to write a cheque, mail it in, etc etc. The online application process is a breeze, especially for anyone who actually reads the process, this was very well spelt out and very easy to execute. A credit more to computer share than PLX, but credit to them for picking a good listing manager.
Not long now until we find out how many we get and whether the ASX listing is a boost or bust.
Go onto HotCopper PX1 thread and tell us what you really think! Do it. Talk to the Aussie investors.
I've just applied for additional shares, which results in a doubling of my shares in PLX (provided I receive my full allotment). Had to determine the split of my funds between PLX and SML as I've only got limited funds :)
An observation.
SP $1.55. prior to placement.
Along comes an underwriter who charges $3M to give away $32M candy at $1.20
If the price was $1.55, they may have earnt it.
The shareprice drops to @$1.35 now, meaning @ $28.3M of equity wiped out, and dilution.
So now the existing s/holders are stumping up $5M, to pay $5.1M of costs to underwriter & admin.
If the big new boys stag their shares at less than 12% gain, the little boys shout OUCH even louder!
The price of progress eh?
I hope the board & management of PiX1e treat this new capital with respect, and are less concessionary in their business dealings.
You may well be right about possible dilution in the short term, however in the longer term PLX holders will be expecting new customer and/or partnership announcements which have the potential to make short term concerns a mere memory.
(The CEO has stated that PLX expects at least 2 major client acquisitions per year...... let's see if they can deliver this and hope/trust that your last sentence proves correct.)
Disc - hold and biased so DYOR.
Just finished off my application online, let's see how much gets allocated.
Well it's past 5pm, so now all the little PLX elves get together to read the wish lists of all the boys and girls who have hung up their stockings and are hoping to make a quick buck. What will they do if there are not enough shares for all the wish lists? Replace them with oranges? Coal? Or something less edible like vouchers for McDonalds? As the sun goes to bed and disappears for the night, the elves get out their cigarettes, brandy and calculators....
Good luck everyone! And Merry Christmas (yeah I know early but stuff 2020 so who cares)
And not long to wait, Offer shares are allotted on the NZX Main Board on Friday this week. Should find out pretty quickly how many SPP shares applicants got, with transaction statements issued on Monday.
New name on NZX with PX1 and debut on ASX today, be interesting to see what its in store...
They will grind it out to be AUD$1.25/30, until a new client is announced.
Well, it looks like the anticlimax is worse than I predicted.
The opening on ASX is due to be 1.13 orNZ $1.20.
The Aussies to their credit dont pay for hype or good intentions, just proven cashflow.
1.23 now by the looks of this didn't even need to participate in the SPP.
This seems to happen with every Cap Raise. May just buy a few more now knowing the SPP is likely going to be scaled back. I think this stock will recover well and hopefully in the next week or 2 we get an update re the new customer. Lets hope it is massive and all those people selling out will wish they never did.
Agree Baa Baa - I actually thought this was going to hit 1.20 sooner. It really is just an adjustment to price and lets see which way it goes. I am confident it will go the right way but then again I am a biased Shareholder.
Well just picked some up for $1.19 so it was worth holding some cash back from the SPP.Still looking at AUS just in case I can pick some up over there.Hopefully I picked the bottom though!
Giving the $32M away at $1.20 instead of $1.35/40 has lowered investors perception of what the value is, and dug a hole.
True believers will see this as an opportunity to sponge up some more script, in preparation for future good news.
The usual strategy by big boys, flushing out weak hands...nothing to see here. Will take few days to recalibrate, I'm not one bit worried about partaking in SPP.
Do we know when they would inform us about how much we get through the SPP? Friday?
This is why I sold 25% I can buy it back cheaper :)
I don't know if everyone has the same idea but if the price stays like this once I get my remaining money from the SPP it going right back in for an offer.
No need to be rude.
The SPP thingy price isnt necessarily a "valuation", it is the price some over-charging (and entirely unnecessary, imho) banker told them they would need to get a successful raise... (despite also paying said banker a large underwriting fee). Quite where the market price subsequently goes has a multitude of influences as Im sure you know.
[QUOTE=winner69;858969]And often they look at trading activity around events like this to catch a few who do quick flicks[/QUO
You did say like a lead balloon.
Not meaning to be rude, we're all minnows here in the scheme of things, whether $500 or $50,000. Maybe I just get a bit tired of the noob questions like "will it go higher or lower" and the annoyingly dumb questions about "the process and when things will happen" which is published in clear view. Are some people just not able to read the script? And they come here to ask. Talk about not doing any dyod and relying on an internet group to inform.
I thought it's pretty obvious that the company itself decided (agreed) its market price is $1.20 considering the additional shares, and is there some reason why anyone would be surprised that the market agreed today, especially when $32m sophs, plus $5m SPP comes into play? Do the maths, cap value before, cap value after issue of shares at $1.20 = ? Go figure.
Before anyone climbs on, there's not enough liquidity for buyers to confidently get a $50k fill on market at SPP price, so that might explain why some choose to go for the whole hog SPP and take their chances when the market reverts to SPP price to get the rest of what they want - at or around SPP price.
I suppose it comes down to whether you're stagging the IPO in which case you got caught short unless you moved very very quickly, or whether you're looking to buy a quantity at 23% below market when the deal was announced, regardless of the tactics necessary to get the fill.
GLTAH,
The FY21 forecast net loss after tax loss is expected to be ($10.0) million
I wonder if they can sign another big customer in the near future, could they turn a profit immediately or keep bleeding in the next couple of years? It maybe the reason why the share prices are so volatile.
hi Mel currently we got customers include Macdonald, White Castle, Loyalty NZ, Super Indo,7-11 Australia and IKEA, and they provide FY21 forecast revenue guidance of $29.1 million, an increase of 14% on FY20 revenues of $25.5 million.why make you so optimistic another one or two new customers will make them turn profit? And another question is why they did not sign the new contract before increase the headcount, is it a bitter of overstepped?
Hi Justin, I am not the grammar police but can you please edit your post to read a bit clearer. My tired eyes hurt
They're increasing the headcount to support innovation and customer expansion. It is a decision necessary to stay competitive.
And keep in mind that many technology companies run deep into the red in their beginnings, profit is less of a concern than revenue. The main concern for this company is whether it can generate new business to maintain and deliver growth.
The forecast revenue growth slow down to 14% in 2021 compare with 51% in 2020 and 44% in 2019.
As a high growth tech company why 2021 growth rate slow down dramatically? Current customers do not have potential to growth more?
Hi alpha, sorry for the grammar.x.
Mel is saying its very optimistic of someone to think one or two big customers will turn around the loss within this year not that she thinks it will.
When it comes to increasing head count before signing with new customers its better to be over prepared then under prepared and Im sure we can also take some comfort in that they are confident that they will sign on some new customers if they are preparing like this ahead of time.
Question is how "Major" will those customers be.
Oversubscribed......
Plexure Group Limited (Plexure) is pleased to announce that its NZ$5 million
share purchase plan (SPP) has closed and was oversubscribed. The SPP
received strong shareholder support with Plexure receiving applications
exceeding the offer size of NZ$5 million.
The SPP forms part of the approximately NZ$37 million capital raising
announced on 11 November 2020.
Applications under the SPP will be scaled by reference to existing
shareholdings as at 5pm on the record date (10 November 2020). Surplus
application amounts will be refunded in accordance with the terms of the SPP
Offer Document dated 13 November 2020.
Hopefully they are quick at refunding the money before this takes off as I would like to buy some more at current level
Some serious scaling, only got allocated about 1/6 th of what I've applied for. You can check your holdings online via Computershare, hopefully they do refunds pretty fast too.
I applied for 10,000 and got them all.
I think the scaling must've been based on current holding because I wasn't scaled at all. I couldn't pull together as much cash as I wanted so didn't apply for a huge number of shares though.
They stuck to the $5M
They have alluded to more cap raise in future, so I thought they may have taken over subs, while the money was on the table.
They either think the next lot will be at a much higher price, or the big $32M men said dont you share any extra lollies with those little boys.
The documentation was pretty clear scaling would be based on existing shareholding. I am a little annoyed not to be allocated enough to maintain my percentage shareholding despite asking for more than that - us little people have been pushed out by the big boys.