General Discussion Topics, page-16361

Garry: I have been pondering the same question.
My take on the problem is as follows:--
Given that the application amounts must be in $1,000 increments and that the max is $30,000 I believe that an initial fixed value
should be adopted followed by a proportional scaling as follows:
The first $5k to be accepted for shares.
For any amounts greater that $5k then a division of 5 should be applied
Given that the top 40 SHs plus of course peidmont would be in for the full $30K this would provide an amount of
T=$5K + (A-5)/5 where T = total accepted; and A = amount applied for.
for $30K this would calculate out to be $5K + $25K/5 =$10,000
So for the top 40 the amount accepted would be $400,000 plus another say $500,000 = $1M
Now the offer is stated as being capped at $5M with the bod having discretion on how they do this.
It would seem to me that $5m is a pidlingly small sum for the effort involved and should be increased to $10M
or more depending on the total application amount. We could certainly use the money for future projects!!!
However the fact that the SP has now risen to approx double the offer price, there will be a large bunch of greedy
dealers out to get what they can, and then to dump the shares after allotment.
I was expecting the offer to be closed off last week.
I have applied for $5k and have been pondering whether to apply for another $5K
I would be very interested in hearing from other more informed people on the subject