re multiple applications in SPP, the rules are quite clear so just let the people responsible for enforcement do their job. re: "...so perhaps you should direct your vitriol towards the company's directors...", I don't think you can blame them for raising capital this way: 1. BKW decided to raise some capital. They could have done a placement to wholesale investors and existing retail investors would be in exactly the same position as now. An SPP to existing shareholders would only have raised around $18m(50% takeup multiplied by 2400 multiplied by $15,000)which would be a waste of time. 2. They could have done a pro rata non renouncable entitlement issue but those that didn't participate would be diluted, and customarily they would have had to pay an investment bank a fee to handle it 3. The could have done a deeply discounted rennouncable pro rata issue but the ATO has now decided to tax non participants on the value received for rights rennounced as an unfranked dividend.
BKW Price at posting:
$14.25 Sentiment: None Disclosure: Held
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