Email of the day (3)
Comment of the Day

May 06 2011

Commentary by David Fuller

Email of the day (3)

On a share offering in Lynas (weekly & daily), which is in my personal long-term equity portfolio:
"I am sorry to tell you that Lynas have announced they will not be accepting the applications of all underlying beneficial owners with an address outside of Australia and New Zealand.

"I don't know how they are allowed to get away with this. All shareholders are not being treated the same. The application money has been recredited."

David Fuller's view This is annoying but they may not have registered the issue with all exchanges. A similar situation occurred with US and some other overseas holders of two investment trusts which I held and which offered subscription shares in 2009.

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