Share Purchase Plan Offer, page-8

I disagree and this isnt a downramp.

Holders will probably wait until the final days before selling up to 14th Dec. Sell up to the 8th get the money and register for the SPP.
Retail shareholders can lock in some profit now rather than wait for the SP to decline up to 14th. Then can then buy back at a huge discount to what they sold.

Yes they might not get their full allocation but they still win because the SP will be lower than 7.9c in a week or 2. I expect this to hit 7c based on what happened with ARL.

Exact same pattern with the ARL SPP which we all did very well out of.

This is obvs a short term view - LT I expect a rise well over 10c.

My opinion based on similar SPP I have been involved with

I still rate MEI a buy - just not for a few weeks