CZN share price, page-395

Hi Peterpl,
I think Broken Chair and I have both paid via BPay for this CZN SPP from our posts above.

As several posters have indicated they expect this SPP to be over subscribed and as such possibly closed early. This is not necessarily a common occurrence in my experience so I don't know how it will play out if that is the case.

The timetable below shows how it would normally progress.




This is the first time I haven't waited for a snail mail booklet.

I assume because the system accepted payment that anyone who does so joins a time marked queue which shows when you paid and may give some preferential treatment in case of over subscription or subsequent early closure of the offer.

Since the Opening date is the 23rd I hope the last paragraph is correct and early payers aren't treated as queue jumpers.

When do you get your shares? How many will you get?

Depends on demand and whether the offer is closed early or not.

Undersubscribed then the timetable above is the guideline and you will get all you asked for.

Oversubscribed and the offer could close early and the company will probably announce a revised timetable.

How many shares you get if there is oversubscription is subject to guidelines in this letter of offer and how the board of directors perceive your offer.

IMO is won't be a simple mathematical scaling back and takes into account many factors - how long you have held, did you sell shares to pay for the SPP? when did you apply for the SPP and several other factors that mean you won't know how many until you are told. READ THE OFFER CAREFULLY.

With an over subscription the offer will close earlier so presumably trading will be possible 2-3 days after the close.

The other thing with an over subscription is the scale back means you have paid money for shares you don't receive. In this case you are likely to receive a cheque in the mail for the unused funds (no interest). Not certain why it is done this way by Advanced Share Registry but it happened recently for a Rights issue shortfall where I ran foul of with the fine print in the offer. Another HC poster and SH in the same situation said she/he had to contact them multiple times to get his money back so keep that in mind.

Good luck. DYOR as well because this may not be complete.