Does anyone know what actually led to cancel?
>Not enough interest?
>Too much interest?
>Pushback from soph existing shareholders worried about the shares plus 1:1 options causing too much dilution or creating large single holdings?
it's possible that a single buyer wanted to take up a big enough slice that with the 1:1 options they could get close to 10% which could become problematic in the long run
i think they like having it diluted with lots of smaller shareholders because it might create a natural defence mechanism against low ball take over offers...
maybe they realised that a SPP would be the best way to maintain that.
PS they definitely need the money - commitments exceeds funds. Even if they didn't announce anything, we'd have all picked it and maybe that would have worked out the same for share price....
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