Based on the Ann we know that 1.58% of issued shares are held in parcels of 250,000 or less with 1090 holders. Therefore, a quick calculation shows the average holding to be approx. 43,000 units.
(3,000,000,000 × 0.0158 ÷ 1090 = 43,386)
So to reach the threshold to maintain stock for those who elect to do so means they will need to increase their holding by 207,000 each, on average.
So by trying to estimate the share retention option we should know how many shares will need to be purchased by 28th April at market price, notwithstanding any Ann on potential farm ins which may change the decision for holders with limited funds.
If 10% of those affected decide to increase their holding, it will create trades of 22,000,000.
15%, 34,000,000
20%, 45,000,000
25%, 56,000,000
Typically what results do we see from these "less than marketable parcels" share buy back facilities where holders decide to increase their holdings, rather than sell back to the company? Obviously SP and trade value plays a part.
Thoughts?
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- Ann: Less than marketable parcel share sale facility - 10-Mar-17
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