Ann: Share Purchase Plan Update, page-2

The online application form will fail if you have sold all your shares after the record date for the SPP as their system has a bug. You must email them to request for manual processing to get an offer set up. The offer is not available to US residents.

I find the wording of this announcement wide open for the company to do anything with this SPP. They can choose to cancel it, close early, extend it, allot less than what you ask for ... They can accept less than 2m or more than 2m. As they said that the had got over 1.3m, it won't be hard to get another 700k. The share price is now 41% above the offer price so it's likely they will get more than what they asked for. I doubt the share price can hold this level. Imagine that it is still at 24c by the next 2.5 weeks, put 30k in and you get 12.3k profit. That's a cool sum for doing very little! If the share price dropped to 18c, you still get 1.76k profit.

I personally see little risk that it will be under 17c in the next 2.5 weeks. So, it might be worth a punt. However, they do not guarantee that you get what you ask for. So, you can put in 30k and later see that they reject the application. Also, they set up BPAY for payment. I guess that this might favour those who make the direct transfer over the ones who send checks. If it's first-come-first-serve, they wouldn't bother adjusting and refunding the ones who already paid only to have to process the checks that come later. I would not buy more work for me if I were them.