With the priority issue you will get some shares but you won;t know how many you will get until you get them. The company will scale back applications if oversubscribed. There is no set formula as to how many shares you will be allocated. If heavily oversubscribed every applicant may only get a small percentage of their application. Also, keep in mind the company reserves the right to close the offer before 1st November so may close offers once applications have exceeds the number of shares on offer i.e. 10 million. After all,why keep accepting applications if you have already received acceptances for more than what is available. My opinion would be that all successful applicants with received say 10,000 shares and then a pro rata percentage of the balance on the basis of the amount that was subscribed for.
MTC Price at posting:
42.5¢ Sentiment: Hold Disclosure: Held
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