New SPP shares are being offered at the issue price being the...

New SPP shares are being offered at the issue price being the lower of:

1) 26.50 and
2) 2% discount to the volume weighed average price during the 5 days up to 27 may

So if the share price is $30, 30, 31, 32, 33 on or about 27th what would be the issue price ?

what if the share price is 27,27,27,28,27 ?

what if the share price is 24, 24, 25,23, 22 ?