I had some “free” shares of Sembcorp Marine from the demerger with Sembcorp Industries in 2020.
Earlier, I have shared my strategy for this Sembcorp Marine Rights exercise.
I had also given 5 reasons on why I decided to subscribe to this sinking boat.
I saw this letter lying on the table and knew that the dateline is on 14 Sep 2021, 9.30pm.
There it goes. Now I have subscribed to my small entitlement of 17,700 shares and 300 shares.
It is the first time I use Paynow to participate in corporate actions. The benefits of using Paynow instead of ATM are saving $2 and time.
The Rights Shares will be credited to CDP and commence trading on 22 Sep 2021, 9am.
I would expect the share price of SMM to remain weak and maybe plunge below $0.08. This will be a small long-term speculative play for me so I am not bothered.