What is a Share Purchase Plan?
A Share Purchase Plan (SPP) allows existing shareholders in a company to apply to purchase new shares at a specified price.
The intent of an SPP is usually to facilitate a capital raise, typically at a discount to the last traded price .
Under market rules, eligible shareholders have the opportunity to purchase up to a maximum of $30,000 of shares during any SPP offering.
How can I apply to participate in a share purchase plan?
To be eligible to participate in an SPP, you must hold settled shares in the company on the record date (the date set by the company).
- Check your email: All eligible customers will receive an invitation from hello@superhero.com.au containing the specific offer details, key dates, and instructions. If you can't find the email, check your spam folder or contact support via chat; note that you won't receive it if you have unsubscribed from emails.
- Apply via the app: Complete your application by going to Profile > Share Purchase Plans before the closing date, keeping in mind that companies may occasionally close offers earlier than scheduled.
- Fund your application: You must have sufficient funds in your Superhero Wallet at the time of submission; these funds will be restricted and then withdrawn on the share issue date.
Allocation and refunds: If the company scales back the offer, you may receive fewer shares than requested, and the remaining balance will be refunded to your Wallet.
Updates: To change your response, simply submit a new application via the link in your email to overwrite your previous submission.
When will my shares arrive?
SPP shares are typically allocated to your account 1-2 business days after the issue day.
Share Registry processing times may affect the actual issue date of shares.
In some cases, the SPP will be scaled back by the company and you will not receive your full request.
In this case, the balance of your funds will be refunded by the company to your Superhero Wallet.