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It is usually a max. of $30,000 for each account you hold shares...

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subi1

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16/04/24

22:34

Post #: 73376647
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Originally posted by pablo2: ↑

Pinecone, I suppose it’s quite simple really. When the SPP kicks off around Apr 23 we should be offered them by our brokers at c11.5. One then stumps up the cash for up to AUD$3,000 and put in your bid.

If the total bid for is less than AUD$3m, then you’ll get all you ask for. If more than AUD$3m then there will be scaling back.

This is usually done pro rata which I think is unfair but there may be a minimum guaranteed success.

Imagine some rich cat bids for AUD$6m on his own and the rest of us bid for AUD$3m. So, total bid is AUD$9m or 3 X oversubscribed. The simplest (and unfair) way to allocate is then to say everyone gets one third their bid.

So, fat cat gets AUD$2m worth of shares(and associated options) and the rest of us split AUD$1m(and options).

I’ll email this scenario to Dave to try to pre-empt it.

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It is usually a max. of $30,000 for each account you hold shares in. You can bid for less but not more in most cases that i have seen.

We will find out when they send the forms out.

CAI Price at posting: 12.5¢ Sentiment: Hold Disclosure: Held
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