Yup, exactly. It'll be gobbled up fast.
I would have thought it would have been % based e.g shareholders are entitled to purchase up to +50% of their current held units as of record date 'x'. For example, if you owned 1000 shares, you are entitled to purchase a further 500 via the SPP at 0.09.
I've only been involved in a few SPPs, but this is the first which doesn't have that 'condition'.
