while I will be scaled back and will be disappointed I didn’t...

First 22 Last

Share
Profile

Follow
rhythm34

763 Posts.

894

05/06/20

10:22

Post #: 45053707
Share

Originally posted by Speculation: ↑

I have spoken to Credit Corp today. The scale back is proportionate to the number of shares you held at the record date being 28 April 2020.

I've emailed them stating that this is almost deceptive as the offer itself was not on a proportionate basis and no where in the booklet does it say that it would be scaled back in a proportionate basis.

The absolute discretion to scale back clause also doesn't state the basis of the scale back.

The fair way to do this would be to divide the offers by 2.9 but that is not what they will be doing. If I knew this I would have bought more shares prior to the record date.

I held 317 shares and deposited $30,000 under the SPP. I was told I would be getting most of my money back and allocated 30 shares.

This sounds like a class action law suit for misleading and deceptive conduct but having spoken to an equities guy he said this is pretty normal for them to favour their majority shareholders.

Expand

while I will be scaled back and will be disappointed I didn’t get more shares, I understand exactly why it’s done this way as it’s fairer for holders.

Also “Absolute discretion” is not a difficult phrase to understand. Class action lawsuit from a holder of 317 shares

CCP Price at posting: $18.24 Sentiment: Buy Disclosure: Held
5 Upvote

0 Great analysis

Reply

Top Stories

Listen: HotCopper Wire Podcast 014 – Abu Dhabi wants to buy our 'true' oil and gas gem

MEM

Many are concerned about global falling birthrates. This diverse stock has solutions

RML

Resolution Minerals charges further into antimony space with Horse Heaven acquisition

Almonty Industries – Now it is getting critical!

Thursday's HotCopper trends: Second Amplia response, Race combo dosing | June 19

First 22 Last

Add to My Watchlist

What is My Watchlist?

A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.

(20min delay)
Last $12.91		Change -0.180(1.38%)		Mkt cap ! $878.7M

Open	High	Low	Value	Volume
$13.01	$13.07	$12.85	$3.840M	296.6K

Buyers (Bids)

No.	Vol.	Price($)
1	1500	$12.85

Sellers (Offers)

Price($)	Vol.	No.
$12.92	732	1

View Market Depth

No.	Vol.	Price($)
1	1500	12.850
3	1609	12.830
1	732	12.810
5	3840	12.800
1	732	12.790

Price($)	Vol.	No.
12.920	732	1
12.940	732	1
12.960	732	1
12.980	3898	3
13.040	2610	1

Last trade - 16.10pm 19/06/2025 (20 minute delay)

CCP (ASX) Chart

while I will be scaled back and will be disappointed I didn’t...

Listen: HotCopper Wire Podcast 014 – Abu Dhabi wants to buy our 'true' oil and gas gem

Many are concerned about global falling birthrates. This diverse stock has solutions

Resolution Minerals charges further into antimony space with Horse Heaven acquisition

Almonty Industries – Now it is getting critical!

Thursday's HotCopper trends: Second Amplia response, Race combo dosing | June 19

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

while I will be scaled back and will be disappointed I didn’t...

Top Stories

Listen: HotCopper Wire Podcast 014 – Abu Dhabi wants to buy our 'true' oil and gas gem

Many are concerned about global falling birthrates. This diverse stock has solutions

Resolution Minerals charges further into antimony space with Horse Heaven acquisition

Almonty Industries – Now it is getting critical!

Thursday's HotCopper trends: Second Amplia response, Race combo dosing | June 19

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News