CEN- Contact Energy

[Otago K]

AFR tonight reporting $500 mill cap raise incoming.

How come NZ outlets don't get Sunday night scoops eh

Yeah, take your point regards announcements seem to delay sometimes via NZ.
Thought does this mean CEN is the Power Company behind the GAS generation option Govt are driving at, or purely a restructure choice at this time.
Other news I had noticing a recent uptick in SP by Mr Market contemplated last Thursday a partial SELL on my CEN holding to drop the weighted average holding cost, did a google AI on the TA elements for CEN and it suggested a high probability of a continuing SP uplift so I didn't settle on a price to offer to the market and follow through at the time.
Interesting CEN is not spoken of much here I see.

[Shareguy]

Took part in the offer yesterday but received only 20 percent of my order, so massive scaling.

Good to be back in to this quality company.

[777]

This must be a record from announcing a dividend and two days later it is ex div

[xafalcon]

This must be a record from announcing a dividend and two days later it is ex div

NZX granted special allowance for this, per CEN request on the basis of - the timing of the capital raise and allocation of the new shares, it would not be fair on existing shareholders that these new shareholders got the benefit of a dividend

There is a notice on NZX about it, and is part of the "discounted SP" calculation - offered on ex-dividend basis. Sounds entirely reasonable to me

[Southern Lad]

The DRP election date is this Friday 20 February.

The pricing of the DRP shares issued for the March 2026 dividend is the lower of the SPP issue price (looking like $8.75 but still some water to go under the bridge) and the standard DRP scheme 2% discount based on ex dividend VWAP over the fist five trading days after going ex entitlement.  If you are chasing maximum SPP participation, makes sense to also elect into the DRP if haven't already.

[Otago K]

Took part in the offer yesterday but received only 20 percent of my order, so massive scaling.

Good to be back in to this quality company.

Hi Shareguy

the CEN offer and all is very much on the fast track, but it seems from your post that once a retail investor submits they have a formulaic predetermination on the allowance. Perhaps it's a straight 20% being applied, but are you possibly able to please indicate how close the allotment you received is to being 60 shares for each existing 1000 holding, my speculation as they have talked of dilution levels around that number and an intent to not have any participating shareholder in a forced dilution position.

[Southern Lad]

Assume Shareguy took part in the placement via broker rather than the SPP.

Allocations of SPP will depend on level of applications received and con only be determined after the closing date.

[Shareguy]

Hi Shareguy

the CEN offer and all is very much on the fast track, but it seems from your post that once a retail investor submits they have a formulaic predetermination on the allowance. Perhaps it's a straight 20% being applied, but are you possibly able to please indicate how close the allotment you received is to being 60 shares for each existing 1000 holding, my speculation as they have talked of dilution levels around that number and an intent to not have any participating shareholder in a forced dilution position.

Hi Otago K , I took part in the original institutional placement through my broker and only got 24 percent (exactly) of what I applied for. I expect that the retail offer will also be heavily scaled due to the current SP and the dilution effect of the cap raise from memory was only about 6 percent.

I see this as a quality share great for long term holders.

[Shareguy]

Assume Shareguy took part in the placement via broker rather than the SPP.

Allocations of SPP will depend on level of applications received and con only be determined after the closing date.

Yes your correct Southern Lad

[Otago K]

Assume Shareguy took part in the placement via broker rather than the SPP.

Allocations of SPP will depend on level of applications received and con only be determined after the closing date.

SPP Closed oversubscribed and subject to some adjustment. circa NZ$ 75M initial offering, Application totals NZ$ 251M, Total ultimately accepted by CEN of NZ$ 125M.
The allocations to holders under the SPP have been announced yesterday the 13th.
My summation if accurate might be that any existing holder who applied for up to 13.658% additional shares to their holding levels will have received that allocation and perhaps there was nothing allocated above that level.

[777]

Money refunded today.