I see a number of companies are making deeply discounted non-renounceable share issues but where they exclude shareholders who do not have an Australian or New Zealand (mailing) address.
Clearly this situation highly dilutes the interests of such shareholders and any value in the issue reverts usually to the underwriters.
If the books had not been closed, this problem could be remedied by changing the overseas address to an Australian or New Zealand address assuming that the overseas holder could establish one.
Does anyone have any other remedy or experience with this subject?
How can one take advantage of an entitlement in this situation if the issuing company will not offer a nominee facility?
