A while ago I posted about how I'd missed the deadline for a non-renounceable stock issue by Newcrest Mining. I could have purchased 105 shares at $17.50, when the stock price was around $28.00, which would have resulted in a paper profit of around $1,000. It turns out that the entitlement of shareholders who didn't take up the offer were sold, and the "surplus" of the price realised has been paid out to those shareholders who didn't take up the offer. Today I got a cheque for $1,113 from Newcrest, so I ended up getting most of the profit from the stock issue anyhow!
Copyright Enough Wealth 2007