Ann: Share Purchase Plan Offer Document, page-15

Amigos the details have been announced, and I don't like the condition which disqualifies holders who sold some shares after the announcement on 4th October. The condition doesn't apply to me, but it could have done. It may affect genuine longterm holders who sold some shares for various unrelated reasons (e.g. pay a bill or two - yes Mum & Dad investors can be short of cash). It's a retrospective condition, which causes all sorts of issues. (I'm not experienced in share issues, but wonder if it is a common practice or if this type of retrospective condition is legal?) If it had been announced on the 4th October, then no problem and it could have reduced the fall in share price from 14.5 c to 10 c. In the end it's in eveyone's interest for the offer to be at about 13 cents (after the 15% discount), rather than 9 cents. It appears to restrict the uptake of the SPP and Top Up. All longterm holders want Lindi properly funded with minimum debt, so why try to restrict holders from participating?