Our countertop, mobile and integrated terminals can move your business in the right direction. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. My three favourite stocks with a good one-year outlook. Temporary password has expired. The offer is made at a fixed price and institutions get to go first (which always occurs whilst the stock is in a trading halt). Keep some cash spare. A$7,909.85 worth of SPP Shares), the number of SPP shares allocated to Mr. Smith was capped at the application payment received, calculated as follows: A$5,000 / A$14.15 = 353 SPP Shares (rounded down to a whole number of SPP Shares). They will not be entitled to receive the 2020 interim dividend, as the SPP Shares will be issued on 2 June 2020 - i.e. What are the tax implications of the SPP offer? We’ll never sell your email address. There have also been more than a dozen raisings for smaller companies. The SPP offer closed at 5.00pm (Melbourne time) on 22 May 2020. This means that you had to be a shareholder before the raising is conducted. Melbourne, Victoria 3001. It raised $880m from institutional investors at $140 per share (now trading around $188 per share), yet only $50m is available to retail shareholders. National Australia Bank Limited (NAB) has today announced the results of its Share Purchase Plan (SPP) offer. Is Westpac (ASX:WBC) about to do a capital raising? Terms, Financial Services Guide, Privacy Policy. You need to be a shareholder to participate and the âexâ date will be the day it goes into the trading halt. ASX announcement - 27 April 2020 (PDF, 2.06MB), ASX announcement - 4 May 2020 (PDF, 491KB), the issue price paid by investors under the Placement, being A$14.15 per Share; and. The application payment received (A$5,000) was sufficient to acquire the 176 SPP Shares (at an aggregate price of A$2,490.40). This morning the company is announcing a big capital raising to ensure its balance sheet remains strong. NAB has announced a 30 cent per share fully franked dividend, which reflects a payout ratio of 35%, which excludes ‘large notable items’. A small upside is the market protection provided over the offer period â arguably, retail investors are given a âfreeâ option. For example, Flight Centre raised $280m through an institutional entitlement and $282m through an institutional placement. Accordingly, the SPP Shares will The new shares issued will represent 7.1% of NAB’s existing shares. These actions are intended to provide NAB with sufficient capacity to continue supporting our customers through the challenging times ahead, as well as increasing NABâs capital level to assist with managing through a range of possible scenarios, including a prolonged and severe economic downturn. The application payment received (A$10,000) was sufficient to acquire 559 SPP Shares (at an aggregate price of A$7,909.85). Easy access to your money with no monthly account fees. 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. One of the big lessons of the GFC was that investing in hurriedly arranged capital raisings was a very profitable strategy for retail investors. They must apply by Thursday to participate in the SPP. A $25k grant from the Federal Government to help renovate or build new homes. This article does not reflect the views of WealthHub Securities Limited. /content/nabtraderedesign/en/investor/insights/latest-news/news/2020/04/how_can_i_participat. Two formats are used â an accelerated pro-rata non-renounceable entitlement offer (APNEO), or a placement with accompanying share purchase plan (SPP) for retail investors. NAB announces a dividend cut Or is the sector a ticking time bomb? the volume-weighted average price of NAB ordinary shares traded on ASX during the 5 trading days up to, and including, the SPP offer closing date (22 May 2020) less a 2% discount, rounded down to the nearest cent (being A$15.18). The Coronavirus pandemic in 2020 is causing another tsunami of capital raisings. All investors should therefore consider the appropriateness of the advice, in light of their own objectives, financial situation and/or needs, before acting on the advice. Unexpected error. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. Account locked. On 27 April 2020, NAB announced a non-underwritten Share Purchase Plan (SPP) targeting to raise approximately A$500 million in conjunction with a fully underwritten institutional share placement (Placement) of A$3 billion. The following information is an indicative guide only. Afterpay, Zip Co, Sezzle… is BNPL the opportunity of a lifetime? Given the strong support shown by eligible shareholders, NAB has decided to increase the SPP size by A$750 million above its original target of A$500 million, raising a … My original NAB shares were pre-CGT shares. I don’t think I’d ever want to buy NAB for my portfolio for the long term. Is the NAB share price a buy? This is arguably the fairest structure for shareholders. The new shares issued will represent 7.1% of NAB’s existing shares. On 27 April 2020 NAB announced an Interim Dividend of A$0.30 per Share, with a record date of 7.00pm on 4 May 2020 (Interim Dividend Record Date).
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