What is a rights issue?
A rights issue is an invitation for existing shareholders to apply to purchase additional new shares, typically at a discount, to help the company raise capital. These are short-term offers that give you the first opportunity to maintain your ownership percentage before shares are offered to the public.
How can I apply for a rights issue or entitlement offer?
If you hold settled shares in a company on the record date (the date set by the company) then you may be eligible in the event of a rights offering:
- Check your email: Eligible customers will receive an invitation from hello@superhero.com.au containing the offer details, key dates, and a link to apply. Check your spam folder or contact support via chat if the email hasn't arrived; remember that unsubscribed users will not receive these invitations.
- Fund your Wallet: Ensure you have enough cash in your Superhero Wallet before you make your submission via the link, as application funds are restricted after submission and only withdrawn on the share issue date. Your application will only be processed if you have sufficient funds in your account at the time your request is submitted.
Ensure you complete the application via the link before the stipulated deadline, as we cannot accept applications after this date.
Updates: To update your choice, simply click the Typeform link in your email again and resubmit; your most recent entry will overwrite all previous submissions.
What happens if I have bought rights separately from the platform and have not yet received an email?
Please contact us and we will investigate this further.
When will my shares arrive?
Shares from a rights issue are typically allocated to your account 1-2 business days after the issue day.
Registry processing times may affect the actual issue date of shares.
If you apply for additional shares above your basic entitlement, the company may scale back these extra shares, meaning you might not receive the full amount requested. In this case, the balance of your funds will be refunded by the company to your Superhero Wallet.