Marlin Global : BROKER HANDLING FEE ON MARLIN GLOBAL WARRANTS
November 03, 2020 at 07:20 pm EST
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Marlin Global Limited
Phone +64 9 484 0365
Fax +64 9 489 7139
Private Bag 93502
Takapuna, Auckland 0740
7 October 2020
BROKER HANDLING FEE ON MARLIN GLOBAL WARRANTS
Marlin Global Limited ("Marlin Global" or "the company") would like to advise brokers that it offers a broker handling fee in respect of the exercise of Marlin Global warrants ("MLNWD").
The exercise date is 6 November 2020 and the exercise price is $0.86.
Marlin Global recognises there is an administration cost and time involved in the warrant exercise process for brokers and, as such, pays brokers 0.4% of the total consideration payable for warrants exercised per beneficial holder.
The company would also like to remind brokers that it has a long-term quarterly dividend policy whereby it pays 2% of average net asset value each quarter. All shares allotted upon the exercise of warrants on 6 November 2020 will be eligible for all future dividend payments.
Yours sincerely
On behalf of the Board,
Wayne Burns
Corporate Manager
Marlin Global Limited
Process:
If an advisor recommends the exercise of Marlin Global warrants and the holder agrees to exercise their warrants, the advisor will:
For individual clients (who are registered holders of warrants), request that they complete an exercise form, attach a cheque/direct credit funds into advisor firm bank account and send it to the advisor. The advisor will stamp the warrant exercise form with the broker stamp, add the advisor's code and forward the document and payment to Computershare by the exercise date.
Alternatively, for ease of administration, the advisor may request the client to handwrite the advisor firm's name and advisor's code in the "broker's stamp" box on the warrant exercise form and send it directly to Computershare with the payment. If the broker's stamp is not completed fully, Computershare will code the form as "None", meaning no brokerage fee will be calculated for that form.
For clients in a custodial/nominee account, collate and summarise the information on clients electing to exercise their warrants through the advisor firm's internal processes and complete one warrant exercise form per registered holder, stamp the broker's stamp box and add the advisor's code. This and the associated payment are to be forwarded to Computershare by the exercise date.
Advisors can arrange with Computershare to direct credit funds to the Computershare bank account using a unique deposit reference.
Computershare will process the warrant exercise forms and payments and allot shares following close-off within three business days after the exercise date. The company may (but is not obliged to) extend the close-off date taking into account late receipt of exercise forms (postmarked on or before the exercise date).
Computershare will record the brokerage against the forms accepted. If the box is not completed fully or accurately, Computershare will code the form "None" for brokerage fee calculation purposes.
Following approval by Marlin Global, total broker fees payable will be credited to Computershare's bank account. Computershare will pay the fee to the advisor firm's head office. A brokerage calculation report will be provided with remittance of payment advice (usually paid by direct credit, or by cheque) which shows advisor code and address, underlying registered holder application acceptance detail and brokerage calculated. Fee payments are expected to take place around 10 working days following receipt of the signed broker report.
Any queries relating to the remittance of broker's fees to be directed to Computershare. If the coding as processed by Computershare is correct (i.e. matches the form), they will not enter into any disputes that may arise with brokers.
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Marlin Global Limited published this content on 06 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 November 2020 00:19:01 UTC
Marlin Global Limited is a listed investment company that invests in growing companies based outside of New Zealand and Australia. The Company's investment objectives are to achieve high real rate of return, comprising both income and capital growth, within risk parameters acceptable to the directors, and provide access to a diversified portfolio of international growth stocks through a single tax-efficient investment vehicle. The Company invests in a diversified portfolio of between 20 and 35 growing international companies (excluding New Zealand and Australia) through a single, professionally managed investment. The Company invests in various sectors, including health care, consumer discretionary, communication services, information technology, financials, consumer staples, and cash and derivatives. Its geographical locations include West Europe, North America, and Asia. The Company's investment manager is Fisher Funds Management Limited.