Hi Penny Pincher, sorry for the sluggish response. Trying to fit work in around the Flemington Spring Carnival. Wish I’d seen your post as I could’ve steered you away from Hartnell - Nevermind.
In my third paragraph I meant - register with the broker. What I meant there was to have an account with them and send them the letter from your accountant confirming your gross salary was $250k for last 2 years.
I understand that you would not want to register with all sorts of brokers that you do not do any business with. However if a broker you are not registered with is the one doing the raise to its customers then you are going to find it harder, if possible at all, to get some action.
Case in point BUD just completed a $20,000,000 at $0.02.
Armarda Capital has a guy on BUD’s board from the RTO. I don’t have an account with Armarda but they have my details from the RTO. Armarda was too small to be able to handle a $20M raise and so it was done by a larger broker, with a small allocation to Armarda.
I put my hand up for a few but missed out because my normal broker does not allow settlement via DVP [Delivery versus payment (DVP) is a settlement system that stipulates that cash payment must be made prior to or simultaneously with the delivery of the security.] I had to google it too. Needless to say I am gutted as they closed today at $0.40 up 100%. I needed to have an account with a large broker and be registered as a Sophisticated investor.
Not sure how you’d cover all bases (apart from the obvious way).
I think others have said when these come out you can always try to get a piece of the action by contacting the managing broker.
Hope that helps.
PS please avoid Aloisia in the Oaks. $1.50 favourite for a horse untried at the distance (2500m) is sheer madness.
UTR Price at posting:
2.8¢ Sentiment: Buy Disclosure: Not Held
