share purchase plan problem, page-29

I am not sure that will work.
Take the example of one seller owning 10000 shares. If he then sells 1000 shares each to 9 buyers but fails to deliver in time, the seller only has one application to apply under the SPP.
Who gets that right to apply? The seller who still would own 1000 shares or one of the buyers who bought 1000 shares.
I think that what you have suggested could work if one seller sold all his shares to one buyer.
I also think that what you have outlined is what is done in the case of a rights entitlement issue but a share purchase plan is not considered to have the same obligations/rights.