I wrote on 13/07/2015 that the Silly Season for TGA may extend for a while to allow those who subscribed to the DRP time to sell if they want to make a quick buck. In that post I estimated that I would acquire about 8,000 shares via the DRP at roughly $2.37 each, and it turned out to be 8,631 shares at $2.36 each.
At 12:37 today I noticed 12 sellers offering to sell 21,945 shares at $2.56, and that until then 67,272 shares had sold at an average of $2.565. Some of these sales may be shareholders selling down their DRP allocations, and making an 8% profit.
I registered online to participate in the DRP on the last allowable day. This only happened because I read the basis of the DRP pricing when researching for my initial 13/07/2015 post on this thread. Writing HC posts often helps me improve my investing, because it forces me to research. I did not have the information readily at hand to register a similar DRP intention for my SMSF portfolio, which has a smaller TGA holding (just below a third of my personal holding).
I would like to thank those sellers who kept the price low during the week that was used to derive the average SP that was then discounted 5% to calculate the DRP price. Philosophically, I do not approve of any share issues at discounts, but if it is going to happen, I'll be in on it if it represents good buying value for me.
