The outcomes of the Buy-Back are as follows1:
Size of Buy-Back
Market Price2
Final Buy-Back Discount
14.0%
Buy-Back Price
Capital Component of the Buy-Back Price
Dividend Component of the Buy-Back Price
Tax Value3
Number of Shares bought back
67.7 million
Percentage of issued capital
3.8%
Scale back (above Priority Allocation of 100 Shares)
79.4%
The Shares bought back will subsequently be cancelled by CBA.
Scale back of Applications
Due to the strong demand for the Buy-Back, a scale back of Applications was required. In line with the terms of the Buy-Back booklet, the scale back was structured to minimise disadvantaging shareholders with a small number of Shares.
Eligible Shareholders who offered to sell their Shares at a 14% Discount or as a Final Price Application, had a Priority Allocation of 100 Shares (or lesser number) bought back before any scale back was applied. Applications for more than the Priority Allocation were accepted, but scaled back by 79.4% on a pro-rata basis.
In addition, successful shareholders who offered to sell all of their Shares at a 14% Discount or as Final Price Application and who would be left with 20 Shares or less as a result of the scale back, had all of their Shares bought back in full.
Applications at Discounts of 10-13% and Applications conditional upon a Minimum Price above the Buy-Back Price were not bought back. Shares that were offered but not bought back are expected to be released into shareholders' holdings by Tuesday,
ATO class ruling
The
Payments
Payments for Shares bought back under the Buy-Back will commence from Friday,
For any queries on the Buy-Back, please visit the CBA Buy-Back website at commbank.com.au/buyback or contact the CBA Share Registry information line on 1800 022 440 within
Footnotes:
Terms used but not defined in this announcement are defined in the Buy-Back booklet dated
The volume weighted average price of CBA ordinary shares on the ASX over the five trading days up to and including Friday,
The Tax Value was calculated in accordance with the ATO's Taxation Determination TD 2004/22, adjusted for the final dividend paid on
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ASX announcement
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