They don't really care if they get the $20m from the spp or not. It is simply put in there to appease shareholders when they made a placement of $100m (now increased to $120m) to institutions. Shareholders really should be asking why they give the company's equity away to outsiders at $4.05 and not to the existing shareholders through an issue of shares to existing holders.
Ann: Share Purchase Plan Offer Booklet, page-18
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