Would have liked a bit more detail on the pro-rata calculations. New shares issued amount to 2.8 shares for every 100 outstanding. Does that mean shareholders are allocated 2.8 new SPP shares for every 100 shares they hold, subject to the minimum 176 shares? If this is the case, then everyone with less than $90k worth of NAB shares will only get the minimum $2.5k worth. That would be extremely disappointing. It would reward the SPP scalpers who might hold only 1 share, or $500 worth, at the expense of loyal shareholders with much larger shareholdings. I hope it's not the case. Very interested to see the final pro-rata calculations.
NAB SPP, page-322
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