LOL Percy No surprise you mentioned your favorite words... "Well Positioned" indeed :)
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LOL Percy No surprise you mentioned your favorite words... "Well Positioned" indeed :)
exactly what I was wondering- might be better to take the DRiP and subscribe SPP assuming its scaled back....???
Pig in Poke.!
With the SPP price set at $1.46 I would expect massive scaling.
An off the top of my head figure would be, apply for $15,000 worth and be lucky to get $5,000.
I really don't know.
Last one I did not bother with was TIL.Mistake as their allocations were generous.
Your guess is as good as anybodys! Think I'd better go for the $15k then...
Harmoney confirms launching in Australia (Brisbane) https://www.nbr.co.nz/article/harmon...on-cs-p-199747
From memory there were just over 10,000 shareholders stated in the last Annual Report. They will be fighting for the $20M. If 50% of them applied for the full $15k, each would get 4k. I would not be surprised to see it scaled back to that level or even bigger scaling. These SPP are always difficult to decide on as one has a lot of money tied up for a long time just to have most of it returned without interest. At least this time we know the price so that's a bonus :-)
No email received to participate in the SPP, but on NZX there is an offer document, with a link to apply online at www.heartlandshareoffer.co.nz.
Unfortunately, heading to this link brings up a page stating "This form is currently unavailable" and asks for a password to view the website ... not a good start. :mad ;:
Smaller small shareholders are perhaps less likely to have $15,000 available for the SPP application, so in a way there is a hit-and-miss inbuilt scaling factor in these SPPs.
The fairest way to raise equity capital would be via renounceable rights issues, so that those shareholders who do not have readily available funds can sell their rights. However unfortunately it must be quicker and cheaper to drop a placement with the big participants and give crumbs to small shareholders via a lolly scramble.
Agree with that although to be fair I remember as a kid that lolly scrambles can be a lot of fun and at least they've doubled the amount of lollies :)
Share purchase plan details here https://www.nzx.com/files/attachments/253364.pdf