Is 21.5 cents the lowest under SPP?, page-43

ROssi,

@JB1975 was actually wrong - and I was right on the 19 April effective issue/prospectus date, thanks

JB1975 was very astute in pointing out the clause however, which looking at the VWAP in the 5 days preceded, suggests, per my example above, the 80% Chapter 7.2 exception 5 floor, is going to be 17 cents.

This thread was never about the workings out of the discount, that was crystal clear, this thread was about the 80% 5 day VWAP floor that precedes the issue date in the clause and what that effective issue date was, which JB1975 perceived as the 6 April issue date, putting a 21.3 cent base on the SPP. Not about how its worked out. A 12 year old child could work that out.

The clause hasn't gone away, CYP's answer to you just shows JB's premise was incorrect. The above is nonetheless a very useful discovery, which suggests there is a 17 cent floor in the issue price - CYP's response just coincidentally using the same price.

If you priced the options at $0.015, then $0.155 probably is a reasonable floor for the shares, given the issue price is effectively floored by JB1975's astute, if a little misplaced observation, whilst Splodge and his mates clueless as ever.....this is all again, what I said on the original prospectus thread why I hate VWAP SPP's. They encourage the stock down until cut off.

I will be loading up at $0.15 ex-option entitlement and taking my $0.17 entitlement with options. This crap always happens with retail SPP's. Silly value here.