Mighty River - anyone else not completed?

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lorenzo

91 posts

Master Geek

#119389 30-May-2013 10:35

... politics aside.

I applied for MRP shares and was accepted. I completed all the details (bank account shareholder number) and received the confirmation of my allocation.

I made sure I had sufficient funds in the account ...

and now I sit still waiting... no withdrawl, no shares, no fecking email - nutting !

I wrote to Tony Ryall and the Treasury yesterday looking for answers, but no response so far. Has anyone else had issues?

surfisup1000

5288 posts

Uber Geek

#828187 30-May-2013 10:39

You probably didn't have direct debit authority on your account so it might be your own fault. You should ask your bank, they will know.

This happened to quite a few people.

You can buy them now anyway -- the price is lower than the float price so you've saved some money already.

Treasury? Seriously?

lorenzo

91 posts

Master Geek

#828206 30-May-2013 10:54

Yes Treasury, (governmentshareoffers@treasury.govt.nz) they have a public share float email address to contact. All the details for the withdrawal and authorization for payment (one-off from nominated bank account) were included on the form.

Applying now while at a discount on the float price does not entitle me to the bonus after 2 years holding of 1:25 shares (max 200) and I would incur brokerage.

Sounds like I must have got the account number wrong - but as they never confirmed back on my Application confirmation email the information I provided, it is a bit hard to tell.

surfisup1000

5288 posts

Uber Geek

#828210 30-May-2013 11:14

lorenzo: Yes Treasury, (governmentshareoffers@treasury.govt.nz) they have a public share float email address to contact. All the details for the withdrawal and authorization for payment (one-off from nominated bank account) were included on the form.

Applying now while at a discount on the float price does not entitle me to the bonus after 2 years holding of 1:25 shares (max 200) and I would incur brokerage.

Sounds like I must have got the account number wrong - but as they never confirmed back on my Application confirmation email the information I provided, it is a bit hard to tell.

Annoying.

I'm not sure there is much you can do now but good luck.

eracode

Smpl Mnmlst
8846 posts

Uber Geek

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Subscriber

#828218 30-May-2013 11:30

lorenzo: Yes Treasury, (governmentshareoffers@treasury.govt.nz) they have a public share float email address to contact. All the details for the withdrawal and authorization for payment (one-off from nominated bank account) were included on the form.

Applying now while at a discount on the float price does not entitle me to the bonus after 2 years holding of 1:25 shares (max 200) and I would incur brokerage.

Sounds like I must have got the account number wrong - but as they never confirmed back on my Application confirmation email the information I provided, it is a bit hard to tell.

Unfortunately if it did not happen for you on the issue date, it isn't going to happen.

However if you really want some, buying now at below the issue price might even be a better deal than the limited benefit of the loyalty deal.

Sometimes I just sit and think. Other times I just sit.

mattwnz

20141 posts

Uber Geek

#828262 30-May-2013 13:16

lorenzo: ... politics aside.

I applied for MRP shares and was accepted. I completed all the details (bank account shareholder number) and received the confirmation of my allocation.

I made sure I had sufficient funds in the account ...

and now I sit still waiting... no withdrawl, no shares, no fecking email - nutting !

I wrote to Tony Ryall and the Treasury yesterday looking for answers, but no response so far. Has anyone else had issues?

I had heaps of problems with their website, even phoned them, and they didn't know what to do, as the website was run by a separate organisation. They were very nice about it, but they didn't know what I could do apart from filling in the forms at my bank instead. I kept getting Ajax errors when trying to proceed onto the next page. When it did work, I was emailed about a week later to say that the application had been canceled as they weren't able to withdraw the amount from the bank, and I only had 2 days remaining before the cut off date. I gave them 2 account numbers one for the withdrawal and one for dividends, but I didn't realize that my withdrawal bank account didn't allow direct debits. I thought it would be a simple case of just ringing them and telling to use the other bank account number instead, but no, I had to fill in all the forms again, as they said that they are all processed manually in a different department. Not a great system. So I think this is what has happened to you, but you may not have got the email to tell you that they couldn't direct debit it out. They don't phone you, which I think they should in that circumstance, due to email and their systems not being 100% reliable. But they You just don't get the loyalty credit, which I don't think is particually good anyway.

What you should ask them for though is the log to show that they did email you to inform you that your application had been canceled.

lorenzo

91 posts

Master Geek

#828302 30-May-2013 14:15

Thanks. Yep I might just put it down to old man eyes and fat fingered typing skills on my part.