Crikey yes! - unless your name is Steve.
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And he went on to gain a knighthood and then had it stripped on kiddie porn charges. Do the super successful ever learn? ;)
If StockCo is earnings accretive and the rest of the new capital is put to work then the sp should recover quickly and $1.80 will be seen as a gift. I hope.
Regardless of the flannel about wishing to encourage more institutional investors for the sake of liquidity, as I understand it the Placement and SPP at a deep discount is a crock for individual shareholders, who cannot outlay more capital to ensure their holding’s relativity is maintained. In effect the value of their holding has been undermined. A rights issue and bookbuild (as ANZ recently undertook) would have at least given them a share of the premium to the heavily discounted issue price.
Who's in for the shares? Pretty quick turnaround to make decision. Buying on market after trading halt might get similar results.
I do not like SPPs.
Seems stupid putting up a good deal of capital to get scaled back to 5% to 15% of what I applied for.
Rights issues are the only fair way as per the reasons you pointed out.
HGH have had plenty of time to organise a rights issue..
I have applied for a good number of shares in the placement for both myself and the wife.
See what happens.
Simple question for our experts ....Is HGH now a SELL ? If not then whats its fair value at present ? still $ 2.10 or below ?
Next year EPS as per guidance and new equity is 16.3 Cents ...so basically flat !!
In the current enivornment that might be considered an OK result.
The AUS banks have the advantage that the economy is just bigger.
And China really needs AUS minerals even if it doesnt need the Wine. But Chinese drinkers do like Aussie Wines which mean the communist party really needs to fight those Wine loving citizens....
Your an Expert now..
Banks will be very busy trying to get control of Risk and meet ever increasing Regs which means technology investments.
Closing branches the only solutions for some?
They are offering at 1.80 ....discount is for attracting capital in such high rates environment ....why it should go below offer price ?
Also whats the maximum allowed for retail investors ? I dont think anyone will get so much that they can influence the market price
After initial knee jerk downside on opening ...I think it will settle back to around 2.10 levels ...thats my thoughts ...what say others
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