Is the SPP about to push the SP off a cliff???, page-118

“The SPP is open until 17 January so there is no rush to apply, but with the stock so far ahead of the SPP price one option available to shareholders – especially those comfortable with the size of their holdings or without enough cash to apply for the full $15k – is to sell some stock now and use the proceeds to apply through the SPP.”

I suggest you actually read what they have written (reproduced above for your convenience), rather than interpreting it through the lense of your short position thesis which you have so kindly shared with us over and over for the past number of days.

As you are aware, the maximum number of shares to be issued under the SPP is c.1.3m and those wishing to arbitrage could do it either prior to or post allocation depending on whether they are more focused on arbitraging price (you know the price now but don’t know what it will be in late January) or volume (you don’t know what % of your application amount will actually get allocated). Certainly if there is significant scale back, those that sell now might actually be forced to buy on market to maintain their holding which flies directly in the face of your thesis (ie post allocation there could be more buyers than sellers who have chosen the arbitrage route).