The 40% discount that has been available to shareholders on purchases of Netcomm products, has just been scrapped, the company secretary has informed me.
He stated that some shareholders complained about them (!) and since only a small number had ever bought under the scheme, they decided it wasn't worth doing.
Some years ago, Coles scrapped their shareholder benefits because it put a dent in their profits. But Coles are a retailer with a large shareholder base. Netcomm were basically giving shareholders the wholesale price that their retailers get, so it doesn't really impact on their profits.
If you would like to see the shareholder discounts continued, I suggest contacting the Company Secretary, Peter Beveridge and telling him so. The number is (02) 9424 2000.
Alternatively you can write to them: NetComm Limited 2-6 Orion Rd Lane Cove NSW 2066 AUSTRALIA
NTC Price at posting:
22.0¢ Sentiment: Buy Disclosure: Held
