To SPP or not to SPP, page-3

Let's say the takeup per4centage is 15 per cent of holders, about 800 given that a year ago on 30 June 2022, JLG had 5,367 holders.

If 'new' shares were being equally distributed, that would mean you, I and everyone else would receive $6,850 in new shares (assuming we'd applied for at least $7,500 worth).

However the new shares are to be allotted depending on how big one's holding was at the record date, so someone with $30,000,000 in shares will receive $30,000 if he or she had applied for that amount.

Under the terms of the SPP:

The aggregate maximum number of Shares that will be issued under the Plan will not exceed the
lessor of:
(a) 30% of the Shares on issue (being the applicable maximum specified in Exception 5 in
ASX Listing Rule 7.2); and
(b) the number such that the total amount raised by the issue of the Shares under the Offer

equals A$5,000,000

so unless my comprehension is deficient, JLG isn't able to accept oversubscriptions.

This is in stark contrast to how companies like REH and SDF look after small shareholders.

I have only a very small percentage of my portfolio in JLG so only applied for $5,000. I'll be surprised if I end up with more than a few hundred dollars of 'new' shares.

Please correct me if my analysis is factually incorrect.