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BLY - Boart Longyear Group

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hi guy,

Are there anyone know how the SPP works? when i make the payment to purchase the shares they issued. these shares which you purchase will directly transfer to your broker or not?????

because next few days i am going to purchase their SPP. but i dont know how does it work?
 

hi you'll pay your 5/10/15k and they will go where you request them to go. I think when you get the application in the mail it will be clear.

I'm also contemplating this SPP.
 
could somebody post the details to the spp on here? im registered with IB so i dont think ill be getting any mail. Hell i didnt even noe there was a spp going on until i read this thread. the announcement says details are on teh website but i cudnt find any info.

mainly just want the last day to exercise ur options. will be going $15k for this one. already knee deep, so might as well dive all in
 
oh they announced it today 28th of october which means gotta notify IB by 21st. im gunna wait till the last moment to subscribe. see how the sp holds out first
 
fureien said:
oh they announced it today 28th of october which means gotta notify IB by 21st. im gunna wait till the last moment to subscribe. see how the sp holds out first
Click to expand...

Check again, SPP closes 23rd Oct; Also IB requires 7 working days to process.
Though in reality they dun mind as long as its within 3 days, but better stick to the safe side
 
skyQuake said:
Check again, SPP closes 23rd Oct; Also IB requires 7 working days to process.
Though in reality they dun mind as long as its within 3 days, but better stick to the safe side
Click to expand...

Apply now. They don't take the cash until the close day or there abouts. Then cancel within 3 days if the price tank.
 
I'm waiting to the last possible moment as well. Would like to see the SP increase a little & hold before making a choice.
 
skc said:
Apply now. They don't take the cash until the close day or there abouts. Then cancel within 3 days if the price tank.
Click to expand...

Be very careful with this, it actually varies. I tried to cancel 1d before the CDU SPP and it didn't let me.
 
skyQuake said:
Be very careful with this, it actually varies. I tried to cancel 1d before the CDU SPP and it didn't let me.
Click to expand...
I highly doubt that any of them allow cancellations.


Wait till the last few days. It is not like it is first in best dressed. :
 
skyQuake said:
Be very careful with this, it actually varies. I tried to cancel 1d before the CDU SPP and it didn't let me.
Click to expand...

Thanks. That's good to know. I cancelled 2 days out once and they let me. So hit and miss I see...

Anyway, SPP with IB is usually a huge disappointment when it comes to allocation anyway. Especially with a widely traded, well in the money stock like BLY.

There are at least 4 people here applying already!
 

Well thats true... Hmm maybe if i downramp BLY all you guys will get scared and won't apply...
---------------------------------------------------------------------

HAY GUYS I HERD ITS GOING BANKRUPT AND TEHRES BIG INSTOS SELLING SOON
 

You can make that at least 5. I'll be applying for the highest amount I can but will wait to the last day before pulling the BPAY trigger
 
gooner said:
You can make that at least 5. I'll be applying for the highest amount I can but will wait to the last day before pulling the BPAY trigger
Click to expand...

BPay? I was talking about applying through IB which is further pro-rated than the normal SPP process

skyQuake said:
Well thats true... Hmm maybe if i downramp BLY all you guys will get scared and won't apply...
---------------------------------------------------------------------

HAY GUYS I HERD ITS GOING BANKRUPT AND TEHRES BIG INSTOS SELLING SOON
Click to expand...

I heard these guys are so incompetent that their company name was actually a typo of Borat Longyear
 
skc said:
I heard these guys are so incompetent that their company name was actually a typo of Borat Longyear
Click to expand...
Wouldn't it be funny if ASF rumours spread like wildfire through the market, causing BLY's price to be hammered down, and thus no-one actually applies for the SPP on Oct 23rd
 
gooner said:
You can make that at least 5. I'll be applying for the highest amount I can but will wait to the last day before pulling the BPAY trigger
Click to expand...

I'm with you Gooner. Got spooked by the intos last time, though ended up buying half my entitlement at 28 cents just afterwards. This time will sell other holdings to take up the max. The fundamentals are just too compelling
 
For those who had experience in SPP and IB, what is the actual process?
What I mean is, does IB take out the money out of your available funds on the offer close date and allot the shares and refund unused money (if there is scale back) later?
Or does IB deduct the exact amount (after scale back) on the date the shares are alloted to you?

With rights issue, it seems to do the latter
 

Exactly the same as rights. Even though they scaleback horribly (Which I hope they will get around the custodian model in the future), I like they way your funds are not tied up for a month.
 
I have an option to purchase up to 15k of shares at $0.27 which is 10% lower than the current price of $0.30 per share. The deadline is October 23rd.

I haven't been in such situation before. Is the price likely to drop if they raise too much money / sell too many shares? Or perhaps that's not their intention but I guess they can't control how many shares current holders buy, can they? The main capital raising is going to come from external investors, right?

The cost of capital raising is already included in the share price, are there any other factors that would push the share price higher / lower after finalising the process of capital raising?

Thank you.
 
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