I don't understand this talk of "Sophisticated Investors". On Saturday afternoon, I wrote an email to AGY via their website:
Dear Sir or Madam
I hold 100,000 shares in AGY and am a proud supporter of your team. As a pensioner seeking a long term investment, I have, over time, put almost all of my meager saving into AGY because I trust the team, and the decisions it has made have only served to vindicate my choice. You have always under-promised and over-delivered. Now, I still have some $$ left to me that I had earmarked for additional investment and would like to know if I can take part in the share price package being offered.
I realize that I am not in the least bit "sophisticated" in the sense I believe you to mean in your recent announcement, but I am certainly worthy.
Please advise if and how I can take advantage of this very real and important opportunity. I have the money, the commitment and the faith. Thank you
The Admin person sent it on to Jerko Zuvela and, later that evening -- on a Saturday; I received this in reply:
Dear ---------
Thank you for your email and support of the Company, much appreciated.
Regarding further details of the Share Purchase Plan, including in relation to the eligibility requirements, this will be released on the ASX and distributed to eligible Argosy shareholders shortly.
Participation in the Share Purchase Plan will be open to shareholders who are registered holders of Argosy shares on a record date - which will be confirmed, and whose registered address is in Australia or New Zealand.
There is no requirement to be “sophisticated” for the SPP.
Thanks again for your interest, and the Company will provide further details shortly.
Now, I take that to mean if you hold Argosy shares from a date yet to be annouced you will be able to take part in the SPP.
So, what does "sophisticated investor" mean to you in this context?
(20min delay)