BMT 5.88% 24.0¢ beamtree holdings limited

Ann: Successful Completion of Share Purchase Plan, page-7

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  1. 27 Posts.
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    It seems that those who posted received just over the half what they applied for.
    I also got just over the half - and at first all seems fine, however I am very disappointed with the fact that yet another SPP that I have recently participated in, seems to have NOT been conducted according to the rules depicted in the SPP offer booklet.
    Section 4.9 thereof states that scale-back shall be performed 'on a pro-rata basis, having regard to each participant's holding as at the Record Date'.
    I have received ca. 12% of my holdings - a pretty big scale-back IMO.
    I would be very surprised if for the previous posters reporting 50-60% allocation, this happened by accident and they also received ca. 12% of their holdings.
    This rare coincidence would restore my confidence in the scale-back process.
    Otherwise, why would you bother spelling out Section 4.9 if you did not intend to act accordingly???

 
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