Stock Update
Corporate Actions
Australia

Afterpay Touch (APT) Share Purchase Plan

14 Jan 2020
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The deadline for the Afterpay (APT) share purchase plan is approaching...

14/01/2020

This is a final reminder for those members entitled to apply for the $23.00 SPP for APT. Payment is due in by this Friday, and with a closing price yesterday of $32.53 there is a 41% arbitrage on offer at current levels. There will likely be a large scale back because of the size of the arbitrage which is why we encourage all members to apply for the full $15k allowable application, and if you don’t have the capital to do so then it makes sense to raise it by selling shares. Selling APT shares makes the most sense as you will be replacing shares through the SPP, but the decision is up to members on how to raise the cash to apply.

We will find out the size of the scale back on 22 January, and new shares will trade on 30 January. As a reminder, the best way to apply for the SPP is to pay through BPay and if you don’t have your BPay details you can get them through logging into your APT holding on the Computershare website at https://www-au.computershare.com/investor/wizard/nonmemberlogin.

07/01/2020

The deadline for the Share Purchase Plan (SPP) is ten days away so the time to act is fast approaching. While members never held APT at the time required to be eligible for the SPP through our strategies, we have talked about our positive views of APT for some time and are aware that a number of members hold the stock independently of our strategies.

The stock has remained roughly at the same levels over the last month and there is a 30% arbitrage on offer at the current price of $30.00. There is likely to be a scale back but with such a premium it makes sense to apply for the full $15k. If you are unable to allocate that much capital, you should consider selling some APT to effectively replace it through the SPP.

With a little over one week left there is no need to send in payment just yet, but we suggest ensuring you have your application forms ready which provide the BPay details to make payment. We will likely update members at the beginning of next week but it would take a pretty dramatic turn of events to make this SPP not worthy of an application.

Afterpay (APT) share registry is Computershare.  You can access registry’s website from here.  If you have any questions about your eligibility or if you have not received your pack you can contact APT share registry to get all of your questions answered.

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2
Comments

Wayne Hargreaves

Hi Shannon, I have never participated in an SPP and plan to do so in this case. In the update above you suggest getting the application forms ready. Is there an application form required to be sent along with a BPay payment?

Shannon Rivkin

Hi Wayne,

You will not actually need to send in a form but the application form provides the BPay reference number with which to use for your BPay payment.

If you weren’t sent a form you can access one by logging into the Computershare website (using your HIN).

Regards,
Shannon Rivkin

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