However Birdseye the SPP price is "the lower of" 15c or VWAP. So an announcement then to boost the price still locks in 15c. It just makes you more inclined to do it. I am not discounting your view that the timing is probably well made and could be used by management to its advantage - however if you dont have the 15K its a better bet to sell now as the price in the SPP could be lower but wont be more than 15c. So if you dont have the money its still worthwhile in my opinion to sell 100,000 units @ 15c as that's the highest you will be required to pay and it still plays into Dcheckers view that we can do far better by putting the money (SPP) in the hands of the company. So I dont have any issue with selling now to take up in SPP later. In fact I think that this has been the only time I have ever supported the views of ProfFraser (HC forum id). Good to sell now to take up in SPP - good for company and good for limiting future dilution.
The only risk is a scaleback. I think that after so few took up last time that they will bank the cash and be happy this time.
PRR Price at posting:
15.0¢ Sentiment: LT Buy Disclosure: Held
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