I remembered this post, and can now add a little to it. Having participated in the last SPP at 37c, as a NZ resident, it was surprising to find NZ residents excluded from this SPP.
FLC explained their reasoning.
The share register has changed over the last 12 months
FLC does not have many NZ shareholders so decided not to incur the additional compliance costs by extending the offer.
Whilst accepting the costs logic and fortunately being able to buy at close to SPP price. It does lend support to the idea that the register is tightening up and being actively tightened.
The NZ shareholder number drop, while shares on issue have risen, combined with FLC confirming the register change looks like validation.
Ann: Fluence Successfully Raises $36.0 Million to Underpin Growth, page-50
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