Ann: Trading update, debt refinancing and equity raising, page-7

Slow down there Speedy... read the detail....
Breville is undertaking the Equity Raising to collectively raise $104m, comprising of:a fully underwritten $94m institutional placement; and a $10m underwritten SPP"
and then...
"Eligible shareholders will be invited to subscribe for up to $30,000 each in additional shares, free of any brokerage or transaction costs. The SPP will be capped at $10m"

10m shares at $17 = 588,235 shares.
Is there going to be enough for every shareholder? There are about 2000 shareholders with over 1000 shares.
That would mean 294 shares per holder....
At a total cost of $5,000. (Surprisingly the sum add up to almost exactly $5k with 99.9999% accuracy)

So, yes you can pick up "a few thousand worth", maybe. But others will apply for $30k worth and dilute you.
But is is the institutions that will benefit.
Since it is fully underwritten, I would have liked to see a lot more allocated to Eligible Shareholders.

(Please check my maths..... I think it is correct, but happy to be corrected!)