I guess we may get up to $7k- 10k worth of share/securities for each applicant.
My calculation is: Assume total shareholder: around 22,000 (FY 08 annual report) As 80% of 22k applied, that gives 17,600 applications.
Assume between (55- 60) % above 17,600 applicant applied extra security, then, total person applied for new security could be around 9,680- 10,560, say 10,000 application.
How much new securities (in $ term) up for grab?, around 73 million ($355-$282 million)
I think/assume that most people applied around $ 4000-$10,000 worth of security, say average $7000.
So, $7000 x 10,000 = $70 million.
Of course, this outcome is based on the assumption that company will use “cut off” method (i.e., people applies certain amount of money will get their allotment in full…) rather then using pro rata based on No of security holding, or on the value of $ applied for.
Above is my wishful thinking, cheers.
GMG Price at posting:
$3.08 Sentiment: ST Sell Disclosure: Held
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