I won't be bothered to participate in SPP, firstly no surplus funds available and secondly can't be bothered locking funds for long without knowing how much gets allocated.
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I won't be bothered to participate in SPP, firstly no surplus funds available and secondly can't be bothered locking funds for long without knowing how much gets allocated.
[QUOTE=sb9;972375]I won't be bothered to participate in SPP, firstly no surplus funds available and secondly can't be bothered locking funds for long without knowing how much gets allocated.[/QUOTE
Key SPP dates
Record Date: 7:00pm NZST/5.00pm AEST Monday, 22 August 2022
Expected dispatch of SPP offer document: Thursday, 25 August 2022
SPP opens: Thursday, 25 August 2022
SPP closes: 7.00pm NZST/5.00pm AEST Monday, 5 September 2022
Announcement of results of SPP: Thursday, 8 September 2022
Settlement and allotment of shares issued under the SPP offer: Friday, 9
September 2022
Trading of SPP shares commences on NZX: Friday, 9 September 2022
Trading of SPP shares commences on ASX: Monday, 12 September 2022
As they have mentioned scaling or individual allotment can be based on your actual holdings on record date ...so if hold good qty and your order is less then say 19% of your holdings then u may get full allotment ...reason being ...allowing u to maintain your holding % ...ie no dilution of previous holding . Makes sense ...they trying to be fair
"If anyone's interested in the scaling ratio in the placement I applied to invest an extra $200,000 through Jarden and received 57,778 shares worth $104,000.40. 52% of the value I applied for."
I applied at Jarden for about 20,000 shares but only received about a third (33.7%). Their scaling seems like a mystery, some received their full allocation, some half, and for people like me, only a third.
For what it's worth, I am an existing holder of HGH. The number of new shares allocated represents less than 20% of my HGH holdings before allocation.
I don't have any insights. Since everyone seems to be getting different % of what they requested. I was going to guess that it would be 18.74% of their existing holdings because $200,000,000/$1.8 is 111111111 shares which is about 18.74% of 592,903,820 the current number of shares issued.
But I guess it is some other formula that takes into account both existing holding and application requested. Since if you got less than 18.74% of your existing holding then that would suggest others got more than 18.74% of their existing holdings.
What the %#&*$@ is going on with HGH .. days ago a short notice non holders offer out of Sharesies..
Now Holders get the same offer on slightly longer timeframe
Presumably both will scaled back somewhat depending on how many pounce on each of the HGH Placement offers
In the meantime head shares get market valued downwards allowing for the upcoming dividend
For SPP to result in cheaper then 1.80 base price ....VWAP of five days from Tuesday to Monday 5th Sept has be less then 1.84 ...as just 2.5% discount is offered and they will use lower of the price ...IMO its going to be 1.80 which will eventually work ....though u never know !!!
Though there is no transparency in the scaling method but its fair to assume that if your new request is less then 18.74% of your Original Holding on 22nd August then u may get them all ...if its more then it maybe scaled down to maximum that level
HGH has the right to keep oversubscription ....which surely they will like to exploit as 1.80 is a good price for them
In hindsight NZX Regco notice to HGH recently had some merit ....its price did get jacked up suddenly from 1.90 to 2.15 ...as this was in the works
FYI: An acquaintance with an existing smallish holding received around a third of his application.
I got scaled to about a 3rd of what I subscribed for (via sharesies). Allocation represented about 60% of current holdings. Not bad for me given I recently liquidated a chunk of my holdings for a recent asset purchase
I applied via Link Market Services, they debited my account by the full amount of my request, does this mean I will get all that I applied for or will they return some of my payment to me along with a reduced number of shares?
The way markets are looking ...I think it will easier to get HGH at issue price of 1.80 on NZX
I know lead manger Jarden will do everything possible to support the price till 5th Sept ....but they cant fight avalanche of selling if the general market tanks
Better to wait till the last few days ...see where its cheaper to get them ...maybe NZX !!!