What is the volume weighted average price or VWAP?
You will receive (if you are selling Shares) or pay (if you are buying Shares) the volume weighted average price (“VWAP”) achieved by the Broker in respect of the batch in which your Shares are sold or purchased, less or plus the A$19 flat fee (as applicable). Please see clauses 5.3 and 6.1 of the Share Sale Facility Terms and Conditions, and clauses 5.4 and 5.6 of the Top-Up Facility Terms and Conditions, for details about how this is calculated. The following is an example of how the VWAP is calculated (based on arbitrary prices). If, on a particular trading day on the ASX, the Broker sells under the Share Sale Facility a batch of 500,000 Shares at the following prices: 200,000 Shares at A$5.70, 200,000 Shares at A$5.80 and 100,000 Shares at A$5.90, then the VWAP will be A$5.78.
You will receive the volume weighted average price achieved by the Broker in respect all Alumina Shares are sold under the Facility. The following is an example of how VWAP is calculated (based on arbitrary prices). If, on a particular trading day on ASX, the Broker sells under the Facility a Batch of 50,000 Alumina Limited shares at the following prices: 20,000 shares at A$6.00, 20,000 shares at A$6.10 and 10,000 shares at A$6.20, then VWAP will be A$6.08. VWAP= (20,000 x A$6.00) + (20,000 x A$6.10) + (10,000 x A$6.20) ———————————————————————— 50,000 VWAP = A$6.
