nana is correct, 1 share is all you need.And for all those who...

nana is correct, 1 share is all you need.

And for all those who say you can't purchase <$500 through ASX -- you actually can, but it's a bit tricky and you need to be quick. Basically you put in a buy order for $500, say at 0.80. Then when you see in the sell stack an order for less than $500, you quickly amend your order to the current sell price -- this means only a part of your original order will be filled, so for example say only 1 share is left in the current sell level @ say $1.00, you will only have to pay $1.00 + brokerage -- after you do this, quickly go and cancel the rest of your order -- and voila! you have purchased only 1 share. But as I said this involves a bit of luck and you need to be quick -- it's the best to use a professional platform such as CommSec WebIRESS to do this.

Okay, now back to the main topic -- given that the SPP is capped at 20 million shares, this translates to 20m * 0.8 = $16m. From the last annual report, there were around 5,000 individual shareholdings. This means 5,000 people are entitled to the SPP. Let's assume 25% of these will apply for the full $15k, and 50% apply for an average of say $5k. Assume the other 25% do not take up the offer. This makes a total of $15k * 1250 + $5k * 2500 = $31.25m. However, remember it is capped at $16m. This translates to around 50% scale-back, so the max you would be able to get in this particular case would be $7.5k worth at 0.80.

This is only a rough conception of how SPP scale-back works, the specific mechanics vary from SPP to SPP. For example, in the recent RDR SPP, the scale-backs were made in proportion to the amount of shares you applied for. The scale-back ratio in that case was 66%. E.g. if you applied for $15k, you get $5k. If you applied for $5k, you get $1.67k, etc.

Hope this helps.

Disclosure: As of today, I own 500 MOL shares and plan on taking up the SPP.

Cheers