Ann: Karoon Share Purchase Plan , page-10

thrones - you said "they pity us and do a SPP"...

the SPP is the simplest way for KAR management to give retail investors the chance to participate in a raising based on the listing rules of the ASX, and the laws/rules of the Corporations Act.

for KAR to raise more serious funds from retail shareholders entails a lengthy and EXPENSIVE process where a prospectus has to be issued to appease ASIC. The institutional raising process is much quicker, more efficient, and generally provides a company with a more certain outcome in terms of the amount raised.

personally I think the path that management has taken is the best for KAR retail shareholders, and as mithril said, the SPP gives a "free option to holders".

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on another matter, it is good to see that the HotCopper moderators have respect for the laws of Australia, and indeed respect for common decency - it is a shame the same can't be said for some posters...