AMP opens share purchase plan
AMP Limited has opened its share purchase plan (SSP) which provides eligible shareholders with the opportunity to subscribe for up to $15,000 worth of shares at a discounted price.
The firm said that SSP was a part of the earlier announced capital raising under which eligible shareholders would receive AMP shares at the lower of $1.60 per ordinary share or 2.5 per cent to the volume-weighted average price at which AMP’s shares trade on the Australian Securities Exchange (ASX) between 30 August and 5 September.
AMP recently raised $650 million of new shareholder capital through a placement of AMP shares to institutional investors at $1.60 per share.
The SPP opens today and closes on 5 September and would be available only to resident Australian and New Zealand shareholders which held AMP shares on 7 August.
Recommended for you
Sharing his reasoning in joining the FSC board, WT Financial chief executive, Keith Cullen, believes “product and advice cannot be separated” from each other in the current environment.
The Emerge Foundation, a charity run by financial advisers and fund managers, has announced a scholarship program to help veterans transition into tertiary education.
In an open letter, Sequoia chief executive Garry Crole has hit out against shareholders “with a personal axe to grind” as he fights for his job ahead of an EGM.
The JAWG has announced it is in talks with Treasury around five “core principles” to strengthen the education standards for new entrants to the financial advice space.