My understanding is that the 15-day period for calculation of...

My understanding is that the 15-day period for calculation of the SPP price does not start until June 13.

Extract from AMP notice:
A Share Purchase Plan (SPP) will allow AMP's Australian and New
Zealand retail shareholders to participate in the capital raising,
providing them the opportunity to subscribe for up to A$5,000 of
shares in AMP. The SPP will be priced at the lower of:

* the institutional placement price; or
* a 5 per cent discount to the average market price during a 15 day
period after the close of the offer. <--------

The offer period is expected to commence 21 May 2003 and will close
13 June 2003. <--------
The record date will be Monday 5 May 2003. Further
details on the SPP will be sent to shareholders.