Just thought I might add this interesting fact about SPP's. It appears under certain circumstances, the rules that apply under Listing Rules 7.1 and 7.1a (I.e. 15% and a further 10%) don't apply to SPP plans. Under certain criteria, up to 30% of a company's issued capital can be issued under a SPP. See these two links: https://www.legislation.gov.au/Details/F2020C00262 and here: https://www.asx.com.au/documents/rules/Chapter07.pdf P.p. 706 - exemption 5