very bad timing for a spp

I have to say, the SPP announcement surprised me very much.

With stock exchanges around the world in a major uptrend SGY broke trough the 6 cent cents barrier indicating it would join the uptrend party. With the SPP the share price will be locked around the 5 cent level for quite some time.

With hardly any resistence until 8 cents, I truly cannot understand why the SGY directors didn't wait another month. With a shares price of 8 cents they could have placed a SPP at 6 cents. That would have mean a lot less dilution.

Well there are probably some very good reasons why they placed the SPP now, reasons we retail investors will never hear. The only thing I can say to SGY believers is to benefit from the bargain the SPP is.

Cheers, Conrad4