This post covers the most frequently asked questions regarding WCM Global Growth Limited’s (ASX:WQG) listed options (ASX:WQGOA).
If you owned shares in WCM Global Growth Limited at 5.00pm on 6 April 2021, you were issued with one bonus loyalty option for every three WQG shares you owned on that date. These options allow holders to purchase new WQG shares at a fixed price of $1.50 per share at any time up until 31 August 2022.
1. What was the record date for the issue of options?
The record date for the issue of options was 6 April 2021. Anyone who held WQG shares at 5pm on the record date received options.
2. How many options were issued?
Approximately 58.50m options were issued. Options were issued on a one for three basis. This means for every three WQG shares an investor owned on the record date, they were issued with one WQG option.
3. Where were my options allotted?
Options were allotted onto the HIN or SRN associated with your WQG shares at 5pm on the record date (6 April 2021).
4. What is the strike price?
The option strike price is $1.50. This is the price at which you can convert your options into WQG shares.
5. What is the ticker code?
The ASX ticker code is WQGOA.
6. What price are the options trading at?
WQGOA are tradable securities, just like WQG shares. You can buy and sell WQGOA via your share trading account in the same way you would buy and sell any ordinary shares. You can view the current price of WQGOA on the ASX website.
7. What are my choices as an option holder?
Your choices as an option holder are:
1. exercise your options,
2. sell your options on market, or
3. do nothing.
If you do nothing, your options may expire at 5.00pm on the expiry date and the value of your options held will be lost.
8. How do I exercise my options?
To exercise your options, complete and return an option exercise form (available here) and make payment via electronic funds transfer (EFT) using the details on the form. If you have EFT daily limits you can spread your payment over a number of days. If you aren’t able to use EFT you can post in your form and pay via cheque.
Exercised options will be converted into new shares on a fortnightly basis. Investors will receive a transaction statement when new shares are issued.
Exercised options will also be converted into new shares prior to any dividend record date to ensure investors who have exercised their options in anticipation of an upcoming dividend receive their dividend entitlement.
9. How do I sell my options?
You can sell your options in the same way you would sell any ordinary shares using your share trading account. For assistance selling your options please contact our share registry Link Market Services on 1300 795 998.
10. Will new shares be eligible for dividends?
New shares issued pursuant to the exercise of options will be pari passu (equal footing) with existing WQG shares. If the investor holds their new shares at the relevant dividend record date they will be entitled to the corresponding dividend.
11. What is the deadline to exercise?
The option expiry date is 31 August 2022. Option holders can choose to exercise their bonus options at any time up to 5.00pm Australian Eastern Standard Time on the expiry date.
If you have any further questions regarding WCM Global Growth Limited’s listed options, please don’t hesitate to contact the team on 1300 001 750 or via email at invest@contango.com.au.
DISCLAIMER: AGP Investment Management Limited (AGP IM) (ABN 26 123 611 978, AFSL 312247) is a wholly owned subsidiary of Associate Global Partners Limited (AGP) (ABN 56 080 277 998), a financial institution listed on the ASX (APL). AGP IM has prepared this material for general information purposes only for WCM Global Growth Limited, a listed investment company (ASX: WQG).
AGP IM is the responsible entity for WCM Quality Global Growth Fund (Quoted Managed Fund) (ARSN 625 955 240) (ASX: WCMQ) and WCM Quality Global Growth Fund (Managed Fund) (ARSN 630 062 047).
AGP International Management Pty Ltd (AIML) (ABN 33 617 319 123) is the investment manager for WQG and is an authorised representative of AGP IM. WCM Investment Management, LLC (WCM) is the underlying manager and applies its WCM Quality Global Growth Equity Strategy (the Strategy), excluding Australia, in managing each of WQG, WCMQ and WCM Quality Global Growth Fund (Managed Fund)(the Funds). WCM does not hold an AFSL. WQG and CIML are part of the AGP Group.
Any references to ‘We’, ‘Our’, ‘Us’, or the ‘Team’ used in the context of the portfolio commentary, is in reference to WCM Investment Management, as investment manager for the Strategy or CIML as investment manager for WQG.
Even though the Strategy, excluding Australia, is applied to each of WQG, WCMQ and WCM Quality Global Growth Fund (Managed Fund) certain factors including, but not limited to, differences in cash flows, fees, expenses, performance calculation methods, portfolio sizes and composition may result in variances between the investment returns for each portfolio. The performance of the Strategy is not the performance of the portfolios and is not an indication of how WQG, WCMQ and WCM Quality Global Growth Fund (Managed Fund) would have performed in the past or will perform in the future.
The material should not be viewed as a solicitation or offer of advice or services by WCM, AGP or AGP IM. It does not contain investment recommendations nor provide investment advice. It does not take into account the objectives, financial situation or needs of any particular individual. Investors should, before acting on this material, consider the appropriateness of the material.
Neither AGP IM, AGP, their related bodies corporate, entities, directors or officers guarantees the performance of, or the timing or amount of repayment of capital or income invested in the Funds or that the Funds will achieve its investment objectives. Past performance is not indicative of future performance.
Any economic or market forecasts are not guaranteed. Any references to particular securities or sectors are for illustrative purposes only and are as at the date of publication of this material. This is not a recommendation in relation to any named securities or sectors and no warranty or guarantee is provided that the positions will remain within the portfolio of the funds. Any securities identified and described are for illustrative purposes only and do not represent all of the securities purchased, sold or recommended for client accounts. The reader should not assume that an investment in the securities identified was or will be profitable.
Investors should seek professional investment, financial or other advice to assist the investor determine the individual tolerance to risk and needs to attain a particular return on investment. In no way should the investor rely on information contained in this material.
Investors should read the Product Disclosure Statements (PDS) of the Funds or any relevant offer document in full before making a decision to invest in these products.
