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Shortfall/refund, page-10

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bendigo

7,965 Posts.

687

15/09/20

10:13

Post #: 47343923
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Originally posted by friendlydwarves ↑

No, there isn't.

That claimed justification is a complete fabrication, designed to calm us all down and ensure we don't raise hell about the fact they still have a shedload of our money.

The rights issue results announcement https://www.asx.com.au/asxpdf/20200827/pdf/44m0ljlcpyyh51.pdf confirms that there is less than $500k of shortfall stock to be doled out, against $2m of applications.

But wait, there's more. Half of the shortfall is going to related parties in a cozy deal - see s4.8 of the rights booklet - https://www.asx.com.au/asxpdf/20200729/pdf/44kxtkwgwjczvx.pdf

So in truth there is just over $200k to be allocated out, against $2m of applications.

If you think you're getting anything more than a few crumbs, you're deluded. And if you think they're holding on to our money for good reason, again, you're deluded. They just want to keep the interest on it, as the rights booklet says they can.

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Can’t agree with your comment about holding money to get the interest on it.
They may have other reasons.
But the banks are paying pretty close to zero interest on deposits atm.
The saving grace is that if you got the money back right now, the interest you’d be
receiving would similarly be close to zero.

But yes,
they do need to sort out the allocations and finalise this.

BPH Price at posting: 4.2¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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