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ANZ SPP and Centrelink

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badger41

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24 August 2008
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A relative recently participated in the ANZ SPP. As a retiree, her shares are listed as an asset by Centrelink.

The SPP closed on Thursday July 2.
The allotment date is Monday July 13

As of a few minutes ago, there has been no ASX announcement by ANZ regarding allotments, possible scale backs etc.

Her broker's online website has yet to register her acquisition of any new shares.

BUT, today she received a quarterly update from Centrelink dated July 3, listing her shareholdings. Guess what, her new shares are listed despite yet to be allotted, and with no ANZ announcement to the ASX regarding the outcome of the SPP.

Would have thought ANZ advising Centrelink ahead of the ASX, the investor, or the investor's broker, of an SPP allocation is, umm, a bit crook?

Comments? badger
 
You're right, Badger. Suggest she takes it up with Centrelink if she's anywhere close to the assets and/or income limits.

If she's not, then it's probably hardly worth the trouble of engaging with Centrelink.
 
No idea how centrelink work, but can you see any bank knocking back cash at the moment?

I'm sure they'll be happy to take all valid acceptances. They probably can't make an announcement yet as they haven't processed 100% of the forms eg. hand written cheques, late mail
 
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