Wrong. No where in the plan rules does it say the VWAP must be of ex dividend share prices.
In fact the Plan Rules expressly say that the VWAP (from the Price Determination Period) could theoretically be cum dividend share prices. Are you sure you are looking at the Vita Group Plan rules lodged 21 August 2014? Summary of Dividend Reinvestment Plan "Under the DRP, new shares may be issued at a discount of up to 5% from market price (calculated by a volume weighted average over a period determined by the Board), with the amount of the discount to be determined by the Board" 1. Definitions Price Determination Period means the period determined by the Board, being a period of not less than 10 Business Days (commencing before or after the relevant Record Date, as determined by the Board).
VTG Price at posting:
$1.26 Sentiment: None Disclosure: Not Held
