Ann: Share Purchase Plan, page-57

It might be smarter to do it that way. If being objectively smart was a hard/enforced requirement for investors, the number of investors would be much smaller than it is. (Same can be said for professionals too!).

The application form itself provides all eligible shareholders to apply for similar amounts (any multiple of $2500 up to $30000 in this case, from memory) and doesn't mention the "pro rata" cap.

As I said in previous post, I anticipate a fair number of retail holders to apply for more than their pro rata cap, so most of them will be scaled back. That's consistent with what I've seen with other SPPs in similar circumstances. Maybe I'll be wrong.

It isn't a given that all retail investors will read and understand the details before flicking off their application. Some might read it, and apply for more, hoping they'll benefit from the "at discretion" clause.