CR Designed to be Successful, page-34

Yes I concur the 25th is the last day to have the accounts settled.

I was surprised by ComSec today after I acquired additional rights to my holding.
ComSec said I had two choices in the acquisition. I could either settle the account for the total amount ( cost of rights on market plus 1.9c to covert them ) in t+2 or pay for the rights and only trade the rights by themselves up until COB on the 18th.
I said no I would like to pay for the trade .002 * X and only that amount. And I would pay 1.9c for the conversion at my leisure. The rep of ComSec 1 flat out denied this was possible which really annoyed me because I had juggle money from another platform and in doing so might leave me in a position where I had to pay an additional fee if those funds where late to ComSec.
So I called the registry and told them I had a BPay account number and just acquired more rights, what should I do and how do I go about converting the additional rights.
Zoe the lovely lady told me I just wait T+2 for the rights to be assigned to my Hin and use the BPay details provided.
She also said if I didn't wait for the T+2 and tried to pay for the total amount the registry would allocate the initial allotted Rights for the conversation to Shares and would consider the additional funds as money for the shortfall allocation.
Really some of the brokers need to be advised on how these rights offers work, or management need a kick up the bum for not providing the brokers with the adequate training needed for the job.

Here end's my rant.

GLAH

L2B1