With regards to SPP meaning Share Purchase plans...there is NO EX DATE .. (that applies to Rights offerings). So lets get that sorted.
SPP's have record dates.
In this instance, if you purcahsed shares on TUEDAYS, Settlemtn would be Friday 12th = MAK record date).
If you sold Wednesday, settlemtn date would be Monday 15th.
The buyer who purchased your shares on Wednday, has his or her trade settling Monday 15th, thus making him / her IN ELIGIBLE for the SPP record date.
*Some brokers CONTRA trades, meaning they see a buy n sell orders within the t+3 dates and settle a day sooner. Make sure you broker does NOT settle - CONTRA your trades sooner and DOES settle as per settlement dates on the contract note.
In my instance, they take the funds out of my Account on Friday (record date 12th June) and then redeposit the funds bak on Monday, less any difference.
This method 100% GUARNETEES I am a holder of MAK shares as of Record date Friday 12th June (as well as the 40+ other spps I have done this with).
PPS. for the record, you CAN buy less than $500 ON MARKET, thre is NO ASX ruling you can not. Some brokers (meaning ONLINE Brokers) apply this ruling but that can be overridden like I have with my 4 trades in 4 HIN's totalling $1,000 (not $1,000 each HIN, but in total)
AEV Price at posting:
61.0¢ Sentiment: Hold Disclosure: Held
