Institutional placement at $2.67 (and receive next dividend).
SPP at $2.67 less next dividend and no transaction costs.
If you were to participate at the SPP maximum amount of $15k: - Institutional - $15k gets you 5,618 shares plus a $189.61 dividend. Net cash flow after dividend paid is ($14,810.39).
- SPP - $15k gets you 5,690 shares and no dividend. Net cash flow after dividend paid is ($15,000).
- If you can buy on market at $2.633 before the ex-div date, $15k (including brokerage) gets you 5,690 shares plus a dividend of $192.04. Net cash flow after dividend paid is ($14,807.96). If my maths are right, this scenario would be superior to the Institutional offer (as you get more shares) and the SPP (as it costs you $200 less).
ARF Price at posting:
$2.68 Sentiment: Hold Disclosure: Held
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