NAB - Share Purchase Plan
Notice of Corporate Action – NAB
National Australia Bank Ltd has recently announced a Share Purchase Plan.
As an existing shareholder, you may be able to participate.
Details of the Offer
National Australia Bank are offering existing shareholders the opportunity to purchase up to $30,000 worth of shares.
The Issue Price for Shares under the SPP will be the lesser of:
- the issue price paid by institutional investors under the Placement, being $14.15 per Share; and
- the price that is a 2% discount to the Volume Weighted Average Price of Shares traded on ASX during the five trading days up to, and including, the day on which the SPP is scheduled to close (22nd May 2020)
Current Share Price
The current share price (close 6/5/20) is $16.59. This offer is a $2.44 or 14.7% discount to the current share price.
Should you participate?
The purpose of this email is to provide you with information regarding your NAB shares. We have not provided advice as to whether you should participate or decline the offer as this will need to be considered with regard to your individual situation.
There are several issues to consider (but not limited to) including:
- The value of the offer
- Is it in keeping with your long-term strategy and risk profile?
- Has there been any significant change to your situation since we last provide you with advice?
- Is there cash available in your account (if participating)?
- The weighting of the share in your portfolio (before and after participation)
- The advice from our Research Team (if covered).
Firstly, please read the details of the offer here:
The following is a list of possible actions you can take:
- Email and inform us if you would like to decline the offer
- Email us if you would like to participate in the offer (with the amount you would like to us to submit on your behalf).
- Call or email us if you would like us to provide you with specific advice regarding this offer.
Please be advised, if we do not receive a response from you, we will assume you do not wish to participate in the offer.
Reply due date
Please reply at your earliest opportunity but no later than 15th May 2020. Different platforms have different cut off dates so please call us if you will be unable to make this deadline.
John and Andrew