AVZ SPP - the price will be the 20% discount of the VWAP over the 5 trading days before the issue of the new shares.
That is the oddest SPP I've ever seen. So effectively any shareholders taking up the offer will not know the offer price as it will be the VWAP between the close of the offer and the issue of the shares. You can make assumptions which will be pretty close but still, how can they seriously make an offer without a specific SP? And how much incentive does the broker have to manipulate the SP to their advantage?
AVZ SPP - the price will be the 20% discount of the VWAP over...
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