@Shtevie77 I feel for you buddy, cos you gonna be massively disappointed with the SPP result - if the BOD keep to the $12mil cap - SHs will be lucky to get 15% of anything over $2000. Your only chance of getting anything higher is if the BOD take massive oversubs and push the limit to say $40-50mil which given their track record I don't see it happening.
The only other option is to email ARU on
[email protected] and express your opinion to the Board and CFO Mr Peter Sherrington, that the SPP cap should be raised dramatically as CURRENT Shareholders want to contribute NOW to getting Nolans Project up and running ASAP.
The more emails they receive from shareholders the more they will listen and act accordingly.I would also email directly our Chairman Mr Mark Southey but I'm not definite about his email address but I think it would be
[email protected] Come on everyone lets get them changing things to be giving something back to the Retail Holders and not always looking after the Brokers Clients/mates/BEOT - yes I know we need that money as well (and there's alot more of it than Retail can ever provide) but these scalebacks are simply totally wrong.
(I would also caution anyone with less than a marketable parcel ie <$500 of ARU from applying for anything more than the bare minimum $1000 as anything higher they simply won't get)
Of course the scaleback might just be minimum $1000 plus 15% of anything above, SO it makes sense to apply for the max $30K (to get about $5K of shares- so lots of refunds !!) Doesn't make any sense at all to me.... DO THEY WANT THE MONEY OR NOT !!
Basic Math
1. 20,000 shareholders - however about 10% are overseas based (lots of others are in Nominee/Trusts with Aust addresses so can ptpate in SPP)
2. Even if 5,000 participate at an average of $5000 each holding, that's a total of $25 million - more than twice the SPP cap.
I think they will get swamped with about 8000 applications averaging $7000 each ie $56 million..... say no more....send your emails NOW while the BOD are still deciding.
Enough said.
I can't be too critical of Management.... they have done a good job this past 6 years getting us to this point....but they are true experts at shafting the Retail Investor.
(20min delay)