Share Purchase Plan
Argo’s Share Purchase Plan (SPP) allows existing eligible shareholders to 'top-up' their shareholdings from time to time by dealing directly with the Company. SPP offers are made at times determined by the Directors, taking into account current market conditions and the capital management requirements of the Company. Shareholders will be advised when an SPP offer is made.
The SPP allows Argo to raise capital for additional investment opportunities.
Shareholders whose registered addresses are in countries other than Australia or New Zealand are unable to participate in the SPP.
When an SPP is offered by the Directors, eligible shareholders can apply to invest up to $15,000 in new Argo shares.
No brokerage or transaction costs are payable by a shareholder when taking up a SPP offer.
Participation in an SPP is optional. If you don’t wish to purchase more Argo shares, you do not need to take any action.
The price of shares issued under an SPP is at a discount to the market price at the time of announcing the offer. In recent years, a 2% discount to the volume-weighted average price of Argo shares traded on the ASX in the four business days up to and including the SPP record date has been applied. However, should the Argo share price fall below that discounted price in the last week of the SPP offer, the lower price will instead apply (calculated as the volume-weighted average price of Argo shares traded on the ASX in the five business days up to and including the closing date of the offer).
The full terms and conditions of the most recent SPP offer are linked below.
View, download or print the terms and conditions
- September 2016 SPP Offerpdf 611 KB