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
With the final tally for FY25 now confirmed, how many advisers left during the financial year and how does it compare to the previous year?
HUB24 has appointed Matt Willis from Vanguard as an executive general manager of platform growth to strengthen the platform’s relationships with industry stakeholders.
Investment manager Drummond Capital Partners has announced a raft of adviser-focused updates, including a practice growth division, relaunched manager research capabilities, and a passive model portfolio suite.
When it comes to M&A activity, the share of financial buyers such as private equity firms in Australia fell from 67 per cent to 12 per cent in the last financial year.
