NAB 1.52% $38.21 national australia bank limited

Ann: NAB announces results of Share Purchase Plan Offer, page-78

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  1. 183 Posts.
    lightbulb Created with Sketch. 21
    Here's how I calculate the estimated scale back %:

    315M shares held by retail shareholders at record date
    21% of this applied for SPP = 66M shares held by the retail shareholders who participated.
    Divide 66M by 155,000 (number of participants) = 425 shares which is the average number of shares individually held by those who participated.

    NAB issuing 33M new shares to 155,000 participants = 213 shares per person
    213/425 = 50%

    So it will be 50% of what you held at record date, but with a minimum allotment of $2,500.
    If you held $1,000 shares and applied for $30,000, you get $2,500
    If you held $10,000 shares and applied for $30,000, you get $5,000

    This is my assumption
    Last edited by pjrockst: 27/05/20
 
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