could spp be cancelled?, page-6

"I dont think they could cancel the SPP on grounds the share price had gone up dramatically..."

...unless you believe this clause of the SPP offer:

14.1 Karoon reserves the right to withdraw the offer or suspend or terminate the SPP at any time up
to the Allotment Date.

As much as I would like to believe that KAR have thrown the existing shareholders a bone, I really doubt that they would have intended to hand out a profit of 50% or more. I'm fairly certain they didn't foresee such a meteoric rise of the share price, or they would have delayed the placement and got more for less - which would benefit the company, and therefore all of the shareholders.

Also, the SPP favours everyone equally. I have a small holding purchased a few months ago, and I am entitled to the same amount as long-term holders who have ridden the KAR roller-coaster over the past year. So the SPP doesn't really reward long-term holders, does it?

In fact, wouldn't long-term holders benefit more if the SPP were cancelled and capital raising was done at a higher price? Then short-termers like me wouldn't have a chance to make a stag profit.