Memo to Management

It appears we, HotCopper, have a direct line to PLS management, so …

May I suggest that PLS has a look at the SPP for Altura.

How Refunds are Paid
If a refund is made, payment will be made either by direct deposit to a bank account or by cheque.
Direct deposit was an option for PLS.

Then –

Altura would like ALL shareholders to participate in the SPP. There is no mention of having >5000 shares or if you don’t hold after the close date “no shares for you”.

I know it is at the board’s discretion, but why would PLS stipulate that consideration will be given to those still holding at the closing date? We are trading on the sharemarket – a utility for buying and selling. If some wish to day trade that is their prerogative, it is not against the rules. Not for me, but everyone to their own. The record date is given, leave it at that and don’t make extra work and add extra conditions. You can buy shares cum-dividend. The ex-dividend date is freely available and shareholders can manage that.

There was a suggestion on HC that long term holders should benefit more. What is the definition of a LTH – those who bought before Christmas, 2 years ago, 3 years ago? Read any constitution and Fully Paid Ordinary shares have equal rights. There is a section in the Corporations Act, Oppression of a Minority, don’t know if it applies to this, but I think it reinforces the “equal rights” of all shareholders. I have held shares in a couple of companies for over 20 years. I don’t get extra dividends because I am a LTH, I am just one of the crowd. Some of the LTH’s probably sold some/all after the SPP and that is their choice.

Don’t make it more difficult than it needs to be and make it appear to be fair for ALL shareholders.