Rules include: The maximum amount available to any one shareholder is $30,000; Shareholders can apply in fixed dollar parcel values: $2,500, $5,000, $10,000, $15,000, $20,000, $25,000 or $30,000; 1 Calculated as Shares Held on Record Date multiplied by ~28%, floored at a minimum allocation of 176 SPP Shares and capped at a maximum allocation of 2,120 SPP Shares. The Rask Group Pty Ltd is a Corporate Authorised Representative (#1280930) of AFSL #383169. The SPP Shares are subject to CGT if you dispose of those SPP Shares in future. Mr. Smith received a refund of A$2,090.15 (being his application payment of A$10,000 less the aggregate issue price of A$7,909.85), which was returned to him without interest, in accordance with the terms and conditions set out in the SPP Offer Booklet. NAB took proactive steps to build capital via the SPP, the Placement, and a reduction in the interim dividend, in light of the uncertain economic outlook due to the COVID-19 pandemic. NAB is one of the four largest financial institutions in Australia in terms of market capitalisation, earnings and customers. GPO Box 4545
Unsurprisingly, companies most exposed to discretionary spending are leading the way, with 7 out of the 15 companies coming from the consumer discretionary sector. But COVID-19 could be hurting the economy for many months, so I wouldn’t want to hold NAB throughout all of that period. The number of allocated shares are available to view on Computershareâs Investor Centre at www.investorcentre.com/au. International Money Transfers for business, Business super for you and your employees, Enabling infrastructure energy and renewables, Supporting our Federal and State Government, Online security help guides for businesses, National Australia Bank Ltd Code of Conduct. Full details of the SPP are set out in the SPP Booklet. The âmarketâ is particularly good at getting companies to raise capital in times of crisis and is highly incentivised to make this happen. National Australia Bank Limited (NAB) has today announced the results of its Share Purchase Plan (SPP) offer. a maximum allocation of A$29,998.00 of SPP Shares (2,120 SPP Shares), For shareholders who have elected to receive electronic communications, an email will be sent on Thursday 4 June 2020, which will include a link to the allocation and refund advice on Computershareâs Investor Centre website at. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product.
Accordingly, the number of SPP Shares allocated to Mr. Smith was 559 SPP Shares. It raised $880m from institutional investors at $140 per share (now trading around $188 per share), yet only $50m is available to retail shareholders. My three favourite stocks with a good one-year outlook.
Tue 21 April 2020 08:53 AM Managing your portfolio. Below are three worked examples of how the scale-back methodology has been applied in connection with the SPP Offer. John Smith held 2,000 shares on the SPP Record Date and paid an application amount of A$5,000. Please select "Forgotten Password" below to reset your password. The User ID or Password entered is incorrect. Easy access to your money with no monthly account fees. The CEO and management will also not receive short term variable rewards for FY20. NAB announces a dividend cut If you're overseas, call us on +61 2 8220 5945. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice.
NAB received valid SPP applications for a total value of A$2.9 billion. One of the big lessons of the GFC was that investing in hurriedly arranged capital raisings was a very profitable strategy for retail investors. No. Is the NAB share price a buy? The amount of NAB loans that are 90+ days past due has been steadily increasing September 2018. A $25k grant from the Federal Government to help renovate or build new homes. The application payment received (A$10,000) was sufficient to acquire 559 SPP Shares (at an aggregate price of A$7,909.85). Please call us on 13 13 80 between 8am and 7pm AEST Monday to Friday. This means that you had to be a shareholder before the raising is conducted. NAB cannot and does not provide any guarantee that the actual number of SPP Shares allocated to SPP applicants (or the amount of any refund paid) will be consistent with the indicative information provided above. They track the ASX trading price and if the companyâs price falls, the offer price is reduced. The information on this website is general financial advice only. The application payment received (A$5,000) was sufficient to acquire the 176 SPP Shares (at an aggregate price of A$2,490.40). a minimum allocation of A$2,490.40 of SPP Shares (176 SPP Shares); and. Melbourne, Victoria 3001. Keep some cash spare. Jaz is a keen investor who loves to thoroughly poke holes in an investment idea before it has a chance of making it into her portfolio. Companies share prices being aggressively sold down; Commentary/speculation in the financial press; Raisings by competitors (it is likely then to spread across the industry).