On 26th march I purchased ELMO software shares for the first time.
On 27 march ELMO announce share purchase plan. Stating to be eligible need to be on register at 7.00pm on 27th march.So I am not eligible for the SPP. My holding will be diluted with the benefit going to the person who held the shares.
Could this be an insider being tricky! Why does ASIC allow this. Settlement is on a t+2 basis. The rule should allow for this and not permit such disregard for shareholders.
Do I have any recourse?
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