You will need to have banking details updated in computershare. Otherwise you will be issued a cheque
The same as when a dividend is paid, though now divs dont get paid in cheques they hold your money until you update your details
I submitted mine today, as sometimes they close early though i dont really expect APT management to do that, and i doubt they will raise the amount either. Be lucky to get $2k worth i expect
Ann: Afterpay Share Purchase Plan, page-136
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