MEI 1.06% 9.3¢ meteoric resources nl

"SPP will provide those shareholders on the share register as at...

  1. 713 Posts.
    lightbulb Created with Sketch. 668
    "SPP will provide those shareholders on the share register as at 5:00 pm Perth time on 24 November 2017"

    Given settlements occur on a T+2 basis you were not on the register on the parcel bought and sold in the same day and only on the register at 5:00PM on Monday 27th November for the second parcel. Based on that the inshort answer is "no".

    At any rate I wouldnt be too concerned as the SPP scale-back is expected to be aggressive. So not sure that I would be selling to take SPP based on (but it is creating an excellent buying op though that will be short lived I suspect). Just do the numbers:

    936 shareholders, and
    $1.24m available

    Thus if everyone applies you would receive $1,324.78 out of $15,000 + have $15k capital tied up for a few weeks. If you apply for a lesser amount you would get at up to 92% less as well. I have been burying on market at these levels, as have others who missed the placement. At a guess SPP 'arbitragers' will be buying back for a lot more.

    Cheers,
    Last edited by 88888acct: 02/12/17
 
watchlist Created with Sketch. Add MEI (ASX) to my watchlist
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.