Well, out of those 15021 sholders, how many do u think will subscribe for the full amount? Historically getting the SPP fully subscribed even if the SP was to remain 37.8 cents would be unprecedented for a company on the ASX of this nature just see the STO SPP recently, the ORG CR, BLD SPP, APA SPP, AGL CR. Those companies were larger and the SPP/CRs still failed to make the grade.
So it would be unprecedented if retail holders in Aust/ NZ were to go into this with such amounts that the SXY SPP would be fully subscribed and even if it was, they would just issue more capital as they are entitled to do.
It is all semantics anyway and designed to dilute the SP, STO SPP and STO forum was similar. I am not worried about the dilution and if there is unprecedented demand such that SXY SPP was oversubscribed, the shares will be worth much more than current levels if sentiment from retail is that strong.
SXY SP could be more than 70 cents, $1 even shortly after the shares are allocated if the shares are oversubscribed. That is a dream in the short term totally detached from historical and practical reality IMHO but pls DYOR.