spp in the mail , page-11

Lockitt-

"I think that they can give every holder who wants them the $15,000 worth of shares that they are entitled to. If there are then over-subscriptions then the number of shares applied for over the eligible $15,000 would be cut back. I would think that there would be a major cutback to any over-subscription"
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If an Eligible Shareholder has more than one holding, the Eligible Shareholder may lodge an Application Form or make a BPAY payment in respect any holding, but may not apply for Shares with an aggregate value of more than $15,000. Thus, you may only make an application with respect to one holding. If you have multiple holdings you will have multiple customer reference numbers.
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If the Company receives applications for more than $2 million of Shares under the SPP, it will in its discretion undertake a Scale-back to the extent and in the manner it sees fit.

(b)If there is a Scale-back you may not receive all the Shares for which you have applied. ..

(c)If there is a Scale-back, the difference between the application monies received from you, and the number of SPP Shares allocated to you multiplied by the Issue Price, will be refunded to you in accordance with clause 5.3
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The Company may accept or refuse any application under the SPP, including where:
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it appears that you are applying to purchase more than 15,000 worth of SPP Shares in aggregate (including as a result of any Shares you hold directly, jointly or through a custodian or nominee arrangement)
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"This says to me that they can issue up to 30% of the existing number of shares on issue. That would allow for a lot more than $2M worth."

Yes it seems possible, but they seem to want to limit it to $2m....Then again it's at their "discretion".