BCS - BrisConnections Unit Trusts

[Bushie]

Re: Brisconnections shareholders - financial ruin

Hi, I just rang Netwealth online trading to ask, and they confirmed for me that there is no minimum parcel for non-market (off market) transfers. However it will cost $55-00 to do the brokerage transfer. Therefore if you want 100 or 1000 or 250 or whatever, they can be transferred to you off market. I just happen to have a few hundred thousand laying around the house, if anyone feels the need to contact me, please pm me.

 

[cuttlefish]

Re: Brisconnections shareholders - financial ruin

Well its quite interesting that despite opinions to the contrary there are some people that seem willing to take a punt with a $1000 or $2000 (INCLUDING INSTALMENT PAYMENTS) on these (i.e. a parcel of 500 or 1000 shares - face value $5 or $10 without instalment payments factored in). Maybe the ASX and/or the brokers should review the $500 minimum parcel restriction to reflect the fact that they are actually trading at $2.01 when the two remaining instalments are considered into it - and thus a $5 or $10 order is really a $1000 or $2000 order if instalment liabilities are included.

If they did its possible a market may reappear for the stock at the .001c share price (I doubt it would be large enough to consume all of the stock overhang but who knows - it would at least create a market again).

 

[thermalmonster]

Re: Brisconnections shareholders - financial ruin

Yes

If you bought or got Given $0.5 worth (500 shares) Paid the Liability in April ($500) therefore total investment $500.5

I reckon you could probably get 10 x that once this is sorted out.
If this was promoted it would have the potential to create sales.

Now people know the Liability a 50 cent investment could be worthwhile.......

or may be not?

 

[shaunQ]

Re: Brisconnections shareholders - financial ruin

Thats what I'm saying, the fact that its effectively a $1M minimum buy in means no-one can take a punt and its liquidity is frozen.

 

[thermalmonster]

Re: Brisconnections shareholders - financial ruin

BrisCon CEO Raymond Wilson attributed the lack of trade to the fact that people had become aware of the two $1 instalments.

What a tool !!!!!!!!!!. Admitting that the only reason it traded before was the fact nobody knew about the next two installments.

 

[sails]

Re: Brisconnections shareholders - financial ruin

Thats what I'm saying, the fact that its effectively a $1M minimum buy in means no-one can take a punt and its liquidity is frozen.

Shaun, have quoted Bushie's post below. It apparently can be done without the $500 minimum with an off market transfer.

Hi, I just rang Netwealth online trading to ask, and they confirmed for me that there is no minimum parcel for non-market (off market) transfers. However it will cost $55-00 to do the brokerage transfer. Therefore if you want 100 or 1000 or 250 or whatever, they can be transferred to you off market. I just happen to have a few hundred thousand laying around the house, if anyone feels the need to contact me, please pm me.

 

[thermalmonster]

Re: Brisconnections shareholders - financial ruin

Im not sure if all on line Brokers have a minimum transaction fee?

If anyone wants 50c worth Im sure there are plenty of us willing to sell a few.

 

[drsmith]

Re: Brisconnections shareholders - financial ruin

If someone wishes to purchase these now but for a given liability when the next instalment is due all they have to do is divide $500 by the amount of shares they want and bid that price.

For example if an investor wanted 10000 shares they could achieve this by bidding $500/10000 or $0.05 per share for the 10000 shares.

An investor doing this at the present time might even get a brief moment of fame (ridicule) as such a purchase could well attract comment from journalists following this saga.

One thing's for sure, the seller wouldn't complain.

 

[thermalmonster]

Re: Brisconnections shareholders - financial ruin

risCon CEO Raymond Wilson attributed the lack of trade to the fact that people had become aware of the two $1 instalments.

What a tool. Admitting that the only reason it traded before was the fact nobody knew about the next two installments.


Its so funny I have posted it Twice!!

 

[cuttlefish]

Re: Brisconnections shareholders - financial ruin

and thus a $5 or $10 order is really a $1000 or $2000 order if instalment liabilities are included.

Apologies for my poor maths (the mind boggles at the extent of the liability though). A $5 order at .1c would result in a $10,000 liability and a $10 order a $20,000 liability. (when both instalments are factored in).

 

[shaunQ]

Re: Brisconnections shareholders - financial ruin

Apologies for my poor maths (the mind boggles at the extent of the liability though). A $5 order at .1c would result in a $10,000 liability and a $10 order a $20,000 liability. (when both instalments are factored in).

Exactly. So the minimum buy in level should be 25c worth... giving you a total $500 liability, which would give you 250 shares at current market rates. + possible potential long term brokerage.

(Just speculating here guys)

 

[corr]

Re: Brisconnections shareholders - financial ruin

Hi, I just rang Netwealth online trading to ask, and they confirmed for me that there is no minimum parcel for non-market (off market) transfers. However it will cost $55-00 to do the brokerage transfer. Therefore if you want 100 or 1000 or 250 or whatever, they can be transferred to you off market. I just happen to have a few hundred thousand laying around the house, if anyone feels the need to contact me, please pm me.

BTW Issuer sponsored to issuer sponsored offmarket transfers are free - but don't know if there is a minimum parcel. The forms are available from the issurers website.

 

[Big_Daz]

Re: Brisconnections shareholders - financial ruin

Off - market transfer form can be found here.

http://www.sraa.com.au/forms/form23.pdf

I have done a number of these before for other companies and clients of my work and haven't had a problem with them. Ie: No minimum.

 

[itsonlymoney]

Re: Brisconnections shareholders - financial ruin

Since no-one has jumped on this... can you elaborate? Obviously it would be a sensitive topic for those affected and since this is your first post I think it would be good to detail your intentions. Are you looking for payment? Whats the deal? As you would know there have been different options, schemes, or scams mentioned previously in this thread -so we aren't stupid. Be upfront and you may get a response...

I am seeking payment, but it is only a fraction of what Brisconnections will want come April. For a small fee, I am willing to help take your shares and worry away. My offer is open till the end of feb. If you want more info, message me. time wasters need not apply. You either want my help or not.

 

[drsmith]

Re: Brisconnections shareholders - financial ruin

I am seeking payment, but it is only a fraction of what Brisconnections will want come April. For a small fee, I am willing to help take your shares and worry away. My offer is open till the end of feb. If you want more info, message me. time wasters need not apply. You either want my help or not.

What are you hoping to gain from this ?

 

[itsonlymoney]

Re: Brisconnections shareholders - financial ruin

What are you hoping to gain from this ?

A warm fuzzy feeling knowing I could help a lot of desperate people.

 

[Julia]

Re: Brisconnections shareholders - financial ruin

A warm fuzzy feeling knowing I could help a lot of desperate people.

If you plan to help a 'lot of desperate people' you must be feeling prepared to stump up a fairly substantial sum in the next instalment. Why?
Just a Good Samaritan? and if so, why?

 

[shaunQ]

Re: Brisconnections shareholders - financial ruin

I am seeking payment, but it is only a fraction of what Brisconnections will want come April. For a small fee, I am willing to help take your shares and worry away. My offer is open till the end of feb. If you want more info, message me. time wasters need not apply. You either want my help or not.

Well good luck. You will have 2 months. Personally I don't see anything wrong with asking for money if you were to take a lot of them on board - others may, but you'll need it. 24% of the company is available out there somewhere.

 

[shaunQ]

Re: Brisconnections shareholders - financial ruin

Actually - does anyone know when you become a 'major' shareholder, and disclosed to the market...? (Something to look out for itsonlymoney)

 

[drsmith]

Re: Brisconnections shareholders - financial ruin

A warm fuzzy feeling knowing I could help a lot of desperate people.

You could get that by bidding $0.001 on the market.