Last SPP I was involved in (early 2014) was looking for $15mill, it closed around 300% over subscribed, management resolved (changed conditions of the offer) to double the $15mill sought and scaled back applicants requested shares by one third. SPP issue price was at a discount to market price.
What hope do we have here with current SP 32 cents higher than the SPP issue price? The good news is the shares purchased in the offer above were issued at 0.86 cents, they are now valued in excess of $4.00. Regardless, I will be forwarding my 15k on Sunday and hope for the best.
70c!!!!!!, page-107
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