Ann: Trading Halt, page-7

So it includes a SPP for existing holders, I'm thankful for that.

In addition to the placement, the Company is offering eligible existing shareholders the opportunity to
apply under the SPP for up to $30,000 worth of new Shares (New Shares) at an issue price equal to the
lower of:
1. the issue price of Shares under the Placement; and

2. a 2% discount to the volume weighted average price (VWAP) of Shares traded on ASX during the
five trading days up to, and including, the Closing Date of the SPP (expected to be 11 December
2020), rounded down to the nearest $0.001.

Hmmm.... 2% is only really 1 pip..
Say the price is static at 5.0c during that period as an example, the SPP price is 4.9c. Best case 1-2 days of fluctuation would make it 4.8c.
I suppose this means only very serious buyers will cough up the money? There will be no profit for anyone trying to flip these shares.
Unless the insto placement price ends up being maybe half a cent lower I can't see them wanting to take part either, so I think we can assume it will be. Surely a real 10% discount? Any thoughts?