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$4.90 prime infrastructure group.

what now?, page-162

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fuzzie

327 Posts.

24/08/23

09:35

Post #: 69517959
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Originally posted by hanabi: ↑

I spoke to Rachael at Link Market Services today. She is apparently the go-to for anything related to this mess (BEPPA, AET&D, Prime Infrastructure, etc.). I wanted to ensure that Link had my postal address up-to-date, because they will make the dividend payments via cheque only. I'm glad I gave her a call actually. Although I had kept my address up-to-date on Link in general and for my old PIH holding specifically, and had also emailed the receivers my new addresses on several occasions, Rachael was able to inform me that they only had very old info for my AET&D holdings. The reason is because the AET&D share holdings (under the ticker AETU) were originally allocated under an SRN and not under the relevant HIN that my BEPPA and PIH shares were allocated under. And I had not added those SRNs (allocated around the 22nd of October, 2010) to my Link account. Fortunately I had kept the original AETU allocation documents from Link that I received back in 2010, because they contain the SRNs.

So, what I had to do was first add the SRNs to my Link account, and to do that successfully I needed the ticker (AETU) as well as the postcode of the postal address I was using at the time of the allocation. After trial and error I jagged the correct postcode (I've moved house several times) and was able to add the AETU allocations to my Link accounts. I could then see the allocations of AETU shares in my account, confirmed that the allocations had the correct amount of shares (as per the October 2010 allocation statements I held), and I was also able to update my postal address so that I can now receive the cheques when they are sent out.

If anyone here receives a cheque, please let us know in this thread so that we can keep a lookout for them and chase them down if they don't arrive.

Does anyone have a guestimate as to how much per AETU share the dividend will be? If I remember correctly BEPPA shares were consolidated into BBI/PIH "stapled securities" at a rate of 1081.08 stapled securities per BEPPA. And then the stapled securities were consolidated into AETU shares at a ratio of 15000:1. So in short, every BEPPA share held became 0.072072 AETU shares. There is about $18 million to distribute, but I do not remember how many BEPPA securities were issued originally, so I can't calculate the distribution per AETU share.

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Many thanks hanabi! I have just gone through the process on the Link website and successfully registered my holding and updated my address to be current. There's probably going to be a lot of lost cheques in the mail to keep the mess going another few years until it all ends up in the ASIC unclaimed money list.

Another small issue may actually be just receiving a cheque these days. I moved most of my banking to an online only bank a while ago which can't handle cheques! Luckily I still have a mostly dormant NAB account, but even that has changed recently. Although NAB still deposit domestic cheques they won't accept foreign checks anymore! I've had a few over the years related to retaining the BIP holding.

PIH Price at posting: $4.90 Sentiment: None Disclosure: Held
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