I thought it was $0.544.....no other method other than add end of day price and divide by 5 (trading days) this gives you I thought the end of day average price
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I thought it was $0.544.....no other method other than add end of day price and divide by 5 (trading days) this gives you I thought the end of day average price
Thanks Corlemar, if .544 is the average price then with the 5% discount we'll be getting shares at .526
Not bad considering some institutions will be paying 75cps
Whatever the final price of the SPP is determined at, it is certainly a good deal for small investors when you compare to PGW and PGC that are locked in for $10m each at $0.75c per share. That said, imo we have seen over the past several mths that both PGW and PGC have not made the wisest of decisions....it seems a big merry-go-round (but thats another story).
Although there is still some uncertainty about HNZ and what it can and will achieve, i personally think it will become a success story in years to come.
Heartland New Zealand Limited ("Heartland") (NZX: HNZ) is pleased to announce
the price at which shares will be issued under its Share Purchase Plan
("SPP") has been fixed by the board at $0.522 per share.
Does anyone know, where or how you can find out what the take up was of the SPP ?
Fascinating situation - the biggest disconnect we have seen in recent years with a public listed company between insiders being prepared to take up shares at a huge premium versus market price and SPP price.
So who is right and what kind of games are being played in the background?
Announcement out on NZX
A low take-up from existing holders, with only 15% putting in new funds, although probably understandable.
I thought this was a good entry opportunity for a new holder, and am pretty pleased to end up with a holding at an average entry of 53.5cps while NTA comes in at 83cps. All being well, they will trade at a good premium one day - just can't be too complacent as to the possibility that it occurs through NTA destruction rather than sp growth.