Ann: Share Purchase Plan Offer Closes Oversubscribed, page-89

I estimate 3 out of 4 shareholders will have applied, on average pouring in $10,000 each.

Remember:

1. Not all shareholders are active in following the market, and miss opportunities
2. The SPP was launched over Xmas and holiday period
3. Not every shareholder has the ready funds available, let alone $30,000

Given this thinking, if 10,000 shareholders applied for an average of $10,000 worth of shares (and NST considered a straight line scale back, not doing a pro rata split) then the proceeds of $100M would mean shareholders get half (50%) of what they applied for (given NST are limiting the acceptance to $50M)

Might be higher or less, who knows, but will be clearer on Monday when your share account gets its allocation. Refunds hopefully by mid week.