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Lead-Manager Deal 

Step-by-step guide on Lead-Manager Deal

 

  1. 5 business days before settlement (S-5) or earlier: advise FinClear of the deal terms, settlement date and any fees.
  2. FinClear submits the DVP application to the ASX and reserves the code and ISIN.
  3. FinClear opens or confirms your placement account and attaches a CHESS HIN.
  4. Announcement day: the company makes its formal announcement. The code goes live in CHESS overnight, and the ASX bulletin is published at 11am the next day.
  5. Send the completed booking sheet. Confirm an underlying account exists for every allocation (see Bookings).
  6. FinClear books the sale to the placement account and books buys against each of your allocations.
  7. FinClear liaises with the share registry to allot to the placement account HIN before settlement.
  8. Day before settlement: send the completed payment template and load the company's bank details to your placement account. FinClear performs the callback.
  9. Settlement date: FinClear reports outstanding trades and funding. You chase counterparties and cover or arrange funding for any shortfall.
  10. Settlement date, 2pm to 4pm: FinClear remits payment to the company and any fees to you, net of the DVP fee if deducted.