1) People who bought on 16th and 19th of September wont be allowed to get the SPP even though they were owners (but not shareholders)on those days.
No they are not owners as they have not pay for the shares - they only have a contract to pay and get the shares on the settlement date. Those on that bought on the day of the announcement have only themselves to blame for not understanding the announcement.
2) The SPP closes today.!!! This announcement came out yesterday and I suspect less than 10% are aware of it. You havent time to p[ost in the form or BPay and all BTA Registry say is courier in the application to Melbourne. -unfortunately even the courier wont get it in by tonight.
The rights to close early is always stated just like in a new float offer. Why do some wait? Because they are not willing to risk their money upfront - JUST IN CASE the sp drops below the spp price or they are using the money elsewhere up until the last day of the spp. By closing early, the company rewards shareholders who put their money in early. What will happen should the sp drops below the spp price - shareholders who fronted up the money cant take it back! The early close is a fair reward for those early birds.
Anyway, all shareholders have benefited from the sp, so what's the complaint!
BTA Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
