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Ouch! I wonder why they went into it when the VWAP discount...

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leasx

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19/04/22

14:51

Post #: 60914096
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Originally posted by J708P: ↑

Z1P - I bought them a while ago and held on hoping. Now I've lost more to them through this SPP. Challenging times ahead for them.

OnMarket just said:
"Last week we completed the sale of the Zip Co Ltd (ASX: Z1P) SPP shares for an average price of $1.305, representing a loss of 11.80% on the trade. Notwithstanding the fact that Z1P’s share price has continued to weaken (opening at $1.22) this is a disappointing result.

In light of this and as a show of good-faith, we have made the decision to refund 3 months equivalent of your Annual or Monthly Account Fee. This will be processed as a ‘fee reimbursement’ directly into your Interactive Brokers account in the next few days. We are also actively looking at ways to improve the SPP Application process to lessen these occurrences and will communicate with you further on this in due course."

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Ouch! I wonder why they went into it when the VWAP discount wasn't worth it. People will be fuming given the fees they have to pay.
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