Financial Services Guide

Introduction

This Financial Services Guide (FSG) is dated 5 October 2015 and is designed to assist you in deciding whether to use any of the financial services offered by On-Market BookBuilds Pty Limited (OMB).

On-Market BookBuilds Pty Limited

Registered &
business address
Client Services
On-Market BookBuilds Pty Limited
Level 28, 25 Bligh Street
Sydney NSW 2000
Australia
ABN 31 140 632 024
AFSL 421 535
Phone +61 2 9221 7928
Email enquiries@onmarketbookbuilds.com
Web www.onmarketbookbuilds.com

Purpose and content of this FSG

The FSG aims to clearly define the role and responsibility of OMB when it provides retail clients with financial services described in this FSG.

In particular, this FSG contains information about:

  • other documents that you should read in relation to offers available from us;
  • the kinds of financial services that we provide and the financial products to which those services relate;
  • how you may give us instructions;
  • how we, our staff and other relevant persons are paid for the financial services offered as well as the associations or relationships between us and any related persons and issuers of financial products that might influence how we provide the financial services; and
  • how complaints against us are dealt with.

Other documents you may also receive

In making decisions to invest in any Initial Public Offer (IPO) or other capital raising, you must read the prospectus, product disclosure document (PDS) or other offer document relating to the offer in full.

If you are classified as a sophisticated investor, experienced investor or wholesale investor under s708, s761G or 761GA of the Corporations Act, you may be eligible to participate in offers that are only available to ‘wholesale clients’ as that term is defined under the Corporations Act. Protections available to retail clients under the Corporations Act will not be available in respect of those offers and the offers will not be made under a prospectus or PDS.  

Contacting Us

You can contact us and find out more about OMB in the following ways:

Email enquiries@onmarketbookbuilds.com
Mail Client Services
On-Market BookBuilds Pty Ltd
Level 28, 25 Bligh Street
Sydney NSW 2000
Australia
Web www.onmarketbookbuilds.com
Phone +61 2  9221 7928

Products and services that OMB is licensed to provide

OMB is authorized to provide general financial product advice only. Any advice that has been provided by OMB, is done without taking account of your objectives, financial situation and needs.

OMB strongly recommends that you consider your own specific objectives, financial situation or needs and seek independent accounting, financial, taxation, and legal advice, prior to making any investment decision.

OMB’s AFS Licence (# 421 535) authorizes us to provide the following financial services to retail clients:

Deal in financial products by issuing, applying, varying or disposing of the following classes of products:

  • Interests in managed investment schemes excluding investor directed portfolio services; and
  • Securities.

Apply for, acquire, vary or dispose of the following classes of financial products:

  • Basic deposit products
  • Derivatives
  • Foreign exchange contracts
  • Interests in managed investment schemes, excluding investor directed portfolio services; and
  • Securities

Provide general financial product advice to retail clients for the following classes of financial products:

  • Interests in managed investment schemes, excluding investor directed portfolio services; and
  • Securities.

OMB’s AFS Licence allows it to provide additional financial services to wholesale clients that are beyond the scope of this FSG.

What is general advice?

General advice may differ from what you might commonly understand or expect. General advice under Australian law can include statements or OMB opinions about the market and products that we recommend to you.

Any advice provided or any discussion you have with an OMB employee in relation to any product, should only be regarded as general advice and will not take into account your objectives, financial situation or needs.

What is personal advice?

OMB does not provide and is not authorized to give personal advice. Personal advice is financial advice that takes your particular financial situation, objectives or needs into account. If you require personal advice you will need to speak to your financial adviser.

OMB offers products of other issuers

Financial products available through OMB are new Securities (the term ‘Securities’ used in this FSG means Securities as defined in Section 92(1) of the Corporations Act) issued by ASX listed companies (or other entities), or new securities issued by companies (or other entities) seeking to list on the ASX (Issuer). The name of the Issuer and the details of the offer are clearly displayed on the OMB website and the ON App. In providing financial services to you OMB is acting on behalf of the Issuers to assist them in obtaining applications in relation to the relevant offers.

If the Issuer is conducting the offer under a prospectus or PDS, this document will be available through the OMB website and via the ON App. You should read this prospectus or PDS carefully prior to investing.

Eligibility

If the Issuer of the new Securities is conducting the offer without a prospectus, PDS (or other offering document available to retail clients), this offer is only available to eligible investors under s708, s761G or S761GA of the Corporations Act. 

You may be eligible to participate if you are deemed a sophisticated, professional or experienced investor under s708, s761G or s761GA of the Corporations Act. If so, you will be asked to verify your investor status prior to placing an order on the OMB website or via the ON App. Please check the Terms and Conditions of each offer as to whether you are eligible to participate.

Fees and charges

No Fees

By bidding for, or purchasing financial products that are available via the OMB website or the ON App, you will not be charged brokerage or any other fees by OMB.

Under certain conditions, you may receive bonus shares at no cost to you.

Benefits OMB may receive

OMB may receive benefits, such as stamping fees, which are paid to OMB by the Issuer of the new Securities via the OMB website and the ON App.

These fees are typically calculated as a percentage of the amount of new Securities  sold (i.e. based on the amount of new funds raised) via the OMB website or the ON App. These fees relate only to the transaction and no form of trailing commissions are paid to OMB.

The amount paid to OMB from selling new Securities issued by Issuers will vary from time to time. You may make a written request for the particulars of any remuneration, commission or benefits payable to OMB in respect of a particular product or service.

If the Issuer is conducting their capital raising using the ASX BookBuild platform, ASX Operations Limited will pay a portion of the fee that ASX Operations Limited earns to OMB. These fees are paid by the Issuer conducting the capital raising.

OMB will also earn and is entitled retain any interest on application moneys deposited with OMB by clients.

Remuneration or other benefits received by OMB staff

OMB employees, representatives and directors are remunerated by way of salary and other employee benefits. A discretionary cash bonus may be paid to employees and directors as part of their remuneration, based on their performance, and/or the performance of OMB as a whole.

OMB employees, representatives and directors do not receive commissions or benefits calculated by reference to the quantity or value of financial products they sell.

Benefits for those who refer customers to OMB

OMB may pay a commission, or other benefits, to parties who refer customers to OMB.  This may be a single one-off payment, currently $50 amount per referral (subject to the referring party bidding) or a benefit calculated as a percentage of the total value of financial products subscribed by the person(s) in relation to a raising. The percentage that may be payable will vary for each offering and therefore cannot be ascertained at the date of this FSG. You may make a written request for the particulars of any referral fees payable in respect of a particular offering.  OnMarket shall have no obligation to identify the identity, or identities of any referred Member(s), to whom a referral payment, or non-payment, relates.  Any such payments are not an additional cost to you.

Providing instructions to OMB

Instructions from you to place an order to buy or bid for Securities that are available via the OMB website or the ON App is given to OMB electronically.  This process is explained on the OMB website and the ON App. We recommend you watch the “how to invest” video available on the OMB website or the ON App.

A Record of instructions

Where you instruct OMB to bid for new Securities issued by an Issuer via the OMB website or the ON App, OMB will record that instruction.

You may request a copy of the instruction relating to application. The request must be made within seven years of the date of the instruction and should be directed to the address on page 4 of this FSG.

Making a complaint

OMB is committed to providing a high standard of service to clients. If you have a query about the quality or level of service, we would like to hear from you.

OMB has established a complaint resolution procedures which is set out below:

Step 1:       Contact Us

Your first point of contact for raising concerns or providing feedback is to get in touch with us. Usually problems can be quickly rectified and the sooner you refer an issue to us the better.  This can be done by:

Emailing enquiries@onmarketbookbuilds.com
Calling +61 2 9221 7928

Step 2: Complaints Officer

If you are unhappy with the response you have received, you should write to our Complaints Officer who will work closely with you to address your concern quickly and amicably. OMB will update you regularly until the matter is resolved.

Mail Complaints Officer
On-Market BookBuilds Pty Ltd
Level 28, 25 Bligh Street
Sydney NSW 2000

Further help options

Step 3: Independent Dispute Resolution

If you are not satisfied with the resolution offered by our Complaints Officer, you may lodge a complaint with the Credit and Investments Ombudsman (CIO).  The CIO is an independent dispute resolution scheme of which OMB is a member.

Please note that before CIO can investigate your complaint, they generally require you to have first provided OMB with the opportunity to address the complaint.

There are various time limits that apply when a compliant can be made to the CIO. As an example, the compliant must be made within two years from when a final response is given at the internal dispute resolution. We recommend you refer to the CIO website for details.

Email info@creditombudsman.com.au
Mail Credit and Investment Ombudsman (CIO)
PO Box A252
Sydney South, NSW, 1235
Web http://www.cio.org.au/
Phone 1800 138 422 or 02 9273 8400
Fax +61 2 9273 8440

Compensation Arrangements

OMB has professional indemnity insurance in place which satisfies the requirements for compensation arrangements pursuant to s912B of the Corporations Act and ASIC policy guidance. This policy is subject to terms and exclusions and covers claims made against OMB in relation to financial services provided by our current and former employees.

Neither OMB, nor any of its directors, authorised representatives, employees, or agents, makes any representation or warranty as to the reliability, accuracy, or completeness, of any advice. Nor do they accept any liability or responsibility arising in any way (including negligence) for errors in, or omissions from, this document or advice.