MEI 1.06% 9.3¢ meteoric resources nl

Share Purchase Plan Offer, page-4

  1. 713 Posts.
    lightbulb Created with Sketch. 668
    "SPP will provide those shareholders on the share register as at 5:00 pm Perth time on 24 November 2017"

    Given settlements occur on a T+2 basis you were not on the register on the parcel bought and sold in the same day and only on the register at 5:00PM on Monday 27th November for the second parcel. Based on that the inshort answer is "no".

    At any rate I wouldnt be too concerned as the SPP scale-back is expected to be aggressive. So not sure that I would be selling to take SPP based on (but it is creating an excellent buying op though that will be short lived I suspect). Just do the numbers:

    936 shareholders, and
    $1.24m available

    Thus if everyone applies you would receive $1,324.78 out of $15,000 + have $15k capital tied up for a few weeks. If you apply for a lesser amount you would get at up to 92% less as well. I have been burying on market at these levels, as have others who missed the placement. At a guess SPP 'arbitragers' will be buying back for a lot more.

    Cheers,
    Last edited by 88888acct: 02/12/17
 
watchlist Created with Sketch. Add MEI (ASX) to my watchlist
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.