By way of example, if you hold A$1,000 of shares, apply for A$15,000 of shares and QBE substantially scales back the offer, you may only receive A$60 of shares (or less), rounded down to the nearest share, with A$14,940 refunded to you without interest. Any balance remaining above the cost of your share allocation which is less than the cost of one share will be donated to charity as it will not be cost effective to refund it to you.
This doesn't make sense. I am a charitable person but I don't want QBE deciding who my charity goes to. How is refunding upto $10.11 more to the same back account more costly to QBE than some other specified sum? Doesn't make sense.
QBE Price at posting:
$11.81 Sentiment: None Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)