Elmo Software Limited / corporate action

[soje22]

Hi Everyone, my position held since 2021 was closed last week quoting " corprate action", does anyone know what this means?

Thank you, Stu

 

 

[OfentseIG]

On 12/02/2023 at 05:08, soje22 said:

Hi Everyone, my position held since 2021 was closed last week quoting " corprate action", does anyone know what this means?

Thank you, Stu

 

 

Hi @soje22

Thank you for reaching out. 

Elmo Software Limited has announced a scheme of arrangement and you will receive AUD 4.85 for every share of Elmo Software Limited surrendered.  We will be booking this mandatory event into your account shortly. You can check if it's already booked. No action is required from your end for this event. Please note that you may receive automated email notifications regarding the opening of position. 

Scheme of arrangement example:

You are currently holding 100 shares in XXX Ltd and XXX Ltd has had a scheme of arrangement where you receive AUD 1 for every 10 shares of XXX Ltd held in your account. 

You will receive AUD 10 as consideration. 

 

All the best, OfentseIG

[soje22]

Hi OfentseIG

does this mean the shares I held in Elmo have been sold without my permission?

That is how I am interpreting "mandatory event".

Am I correct.

Regards, Stu.

 

[OfentseIG]

6 minutes ago, soje22 said:

Hi OfentseIG

does this mean the shares I held in Elmo have been sold without my permission?

That is how I am interpreting "mandatory event".

Am I correct.

Regards, Stu.

 

Hi @soje22

That is correct. Thank you, OfentseIG

[soje22]

that sucks!