The pro-rata entitlement is approx 1 new share for every 10 held on the record date. Minimum allocation 176 shares.
The 2% who don’t get their pro-rata entitlement are retail holders who have say 50000 shares. The pro-rata would be approx 5000 shares but because it’s capped at $30k worth they only get around 2000 shares.
It is a bit confusing.
Ann: NAB announces results of Share Purchase Plan Offer, page-69
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