Ann: Share Purchase Plan, page-43

In terms of share price management, it's a massive positive that instos aren't involved.

Talga's share price has been above the SPP issue price for the majority of the last few years. Current share holders are also the only ones that are eligible to participate. This means that the large majority of share holders that participate will likely be averaging down. This basically nullifies any risk of dumping on the market for a quick flip and also means that Talga did not have to give such a large discount, pulling the share price below the psychologically significant $1.00.