Thanks for the correction. I think the plan could be better...

Thanks for the correction. I think the plan could be better worded but your interpretation makes better sense than my first reading. My original statement was based on the fact that the plan continues "However, where the company cannot buy enough shares on-market within 20 trading days to satisfy the full amount of dividends payable, the remainder of the dividend will be applied to the issue of new shares or given to the shareholder in cash.
What is the issue price of shares?
Shares will be issued at the greater of
- the NTA on the day immediately prior to the record date for the dividend; and
- the weighted average price of all shares traded on the ASX during the period set by the board less any discount the board considers appropriate."

I had taken the answer to the question about the issue price of shares as applying to all shares issued in the DRP, whether bought back or newly issued. Re-reading it the statement about the issue price refers only to the situation where the share price is above NTA and I was incorrect.

I will now consider reinvesting myself - thanks again.