Here are my back-of-envelope sums:Shares on issue (pre-SPP):...

Here are my back-of-envelope sums:

Shares on issue (pre-SPP): 88,900,000
Most recently announced NTA: $17.02 per share
Total equity: 88,900,000 x 17.02 = $1.513b
Number of shareholders: 14,748

If every shareholder were to take up his/her maximum offering in the SPP (i.e. 932 shares each), then these figures would be as follows:

Shares on issue (post-SPP): 102,645,136
Total equity: $1.734b

The NTA per share would then be $16.89.

i.e. If every single shareholder put another $15,000 into MLT through the SPP, then this would raise approx. $220m and would reduce the pre-tax NTA per share by 0.76%. In reality, far fewer shareholders will do so - the previous SPP resulted in only $15.5m in equity being raised.

Hope that helps.