was the scaleback fair?

Shareholders that were scaled back could consider themselves hard done by. Selling shares to fund the SPP is a normally accepted way of getting a small divvie from a company that pays no other dividend. No warning was made when the SPP was announced that any scale back would depend on still holding past the record date.

The only thing in the favour of those scaled back is the fact that they have probably sold at a much higher price than the current SP and will most likely be able to buy back in at a price near the issue price, maybe less the way the dilution will affect the SP. That is if they even want to buy back in.

I sold out at an average over 9.7c and got scaled back. I may buy back in but only when and if the SP falls below the issue price. Really I have lost faith in this projects direction. In the meantime I hold the grand total of 32,000 "scalybacks"