WAM Capital announces Share Purchase Plan
Publicly-listed investment group, WAM Capital Limited has announced a share purchase plan.
The company announced the move to the Australian Securities Exchange (ASX) this week based on a fully franked 2015 financial year dividend of seven cents a share.
The announcement said the share purchase plan would be offered to existing shareholders at the fixed price of $1.90 per share and that shareholders who participated in the offer would be entitled to the seven cent fully franked interim dividend (which will be paid on 30 April 2015) on shares issued under the SPP.
It said the offer allowed existing shareholders the opportunity to acquire up to $15,000 worth of ordinary shares in WAM without incurring any brokerage or other charges.
"It is intended that proceeds from the SPP will be invested in accordance with the Company's proven and disciplined investment process," the announcement said.
Recommended for you
ASIC has issued information for AFS licensees clarifying what they need to do if their adviser wishes to access the experience pathway.
Insights from Ensombl has ranked practice management as the most frequently discussed topic among financial advisers as many move away from a licensee to set up their own businesses.
Vital Business Partner has launched a new coaching solution to assist financial advisers and business owners looking to grow their practices and drive efficiencies.
ASIC chair Joe Longo has told a Senate select committee that it has been running two pilot AI programs, including one to read public submissions.