I have received an email from Computershare (registry for AEE) advising that a BPAY facility is available for making payments to convert the options to head shares but that the BPAY facility will be withdrawn after 15/2/22. The options expiry date has not changed it remains as 30/6/24 but you will not be able to convert using BPAY after 15/2/22. My apologies for mistyping the exact February date. Since some banks are no longer providing cheque facilities, limiting BPAY does indeed impose problems for some holders.
As VJB71 has said, it is a blatant attempt by the company to "induce" (as in an arm behind your back) to get people to convert early, so that they can get the conversion funds at an earlier date. Not everyone will want to convert early, but to remove a BPAY facility (which is today's normal means of payment) in this day and age without declaring such in the Prospectus is, in my mind, a serious failure to disclose terms and conditions.
AEE Price at posting:
27.0¢ Sentiment: None Disclosure: Held
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