GoldRush - SPP's take at least 6-8 weeks to arrange and cost to administer is not insignificant. Seriously, why stuff around with m&d investors and additional costs just to look after the small retail investors? Its important to build insto shh support on the register and can build momentum if other instos see a more sophisticated register building. Clearly the objective here was to raise funds quickly and efficiently and best method was via private placement to SI's.
Long term, retail investors will be better off with a more sophisticated shareholder profile.
Ann: Private Placement Completed Oversubscribed-BRN.AX, page-131
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