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As of 1st May 2009, new rules are expected to apply for Partly Paid Securities but doesn't apply to partly paid securities in No Liability companies. Below are the links to the two ASX releases to date:
http://www.asx.com.au/about/pdf/mr060409_partly_paid_newrule.pdf
https://www.asxonline.com/intradoc-...vices/documents/communications/asx_023298.pdf
Below is a summary of the five that will currently be affected by these changes and shows their status as at the date of this post. For more information and full descriptions of these securities, see the link above.
BRISCONNECTIONS UNIT TRUSTS BCSCA CTG $1.00 PAID, $2.00 UNPAID
CITADEL RESOURCE GROUP LIMITED CGGCC CTG 17.5C PAID 2.5C UNPAID
MULTIPLEX PRIME PROPERTY FUND MAFCA CTG UNITS 60C 40C UNPAID
SOLAGRAN LIMITED SLACA CTG 10C PAID, 10C UNPAID
WESTPAC OFFICE TRUST WOTCA IRS INSTALMENT RECEIPTS INSTALMENT RECEIPTS PAID TO 50C, 50C UNPAID
As far as I understand, trading ceases in the "CA" before the second instalment is due and then a new code with suffix of "CB" begins trading at the elected date which denotes it is in the third payment stage. These are extremely complex shares and should not be taken on lightly by retail traders without fully understanding the risks involved.
For more information on what can go horribly wrong with these five coded securities - have a read of the BCS thread. Currently found here: https://www.aussiestockforums.com/forums/showthread.php?t=13547
http://www.asx.com.au/about/pdf/mr060409_partly_paid_newrule.pdf
https://www.asxonline.com/intradoc-...vices/documents/communications/asx_023298.pdf
Below is a summary of the five that will currently be affected by these changes and shows their status as at the date of this post. For more information and full descriptions of these securities, see the link above.
BRISCONNECTIONS UNIT TRUSTS BCSCA CTG $1.00 PAID, $2.00 UNPAID
CITADEL RESOURCE GROUP LIMITED CGGCC CTG 17.5C PAID 2.5C UNPAID
MULTIPLEX PRIME PROPERTY FUND MAFCA CTG UNITS 60C 40C UNPAID
SOLAGRAN LIMITED SLACA CTG 10C PAID, 10C UNPAID
WESTPAC OFFICE TRUST WOTCA IRS INSTALMENT RECEIPTS INSTALMENT RECEIPTS PAID TO 50C, 50C UNPAID
As far as I understand, trading ceases in the "CA" before the second instalment is due and then a new code with suffix of "CB" begins trading at the elected date which denotes it is in the third payment stage. These are extremely complex shares and should not be taken on lightly by retail traders without fully understanding the risks involved.
For more information on what can go horribly wrong with these five coded securities - have a read of the BCS thread. Currently found here: https://www.aussiestockforums.com/forums/showthread.php?t=13547
