Ann: Same Class Equity Offer (Share Purchase Plan), page-47

BTW, this isn't a "fill your boots" affair like a rights issue. Holders can only buy a set amount. From time to time, even traders who are not eligible for the SPP see a potential for a trade.

If you think the SPP will get good uptake then the 2.2 (NZD) cent price should be strong support. If this is true, then it could be perceived as safe buying at and around the SPP price. That is to say, if the purpose of the money will equal returns then the SPP price is safe.

This is much different to an operating costs raising where they raise enough for 6 months of directors fees then swim along until next time. This is a vote on whether you want a $60m company or a $600m company lol..