One thing that did confuse me, was the question that was asked for an SPP to happen asap. The SPP's are always at the same price as the Cap Raise which was $3. Given the SP is currently lower, I am guessing very few would support this, which would likely push to SP lower as it would be viewed as a failure. Furthermore, If an SPP were announced, this would be a drag on the SP for the entire period it would take complete which is not in the interests of current shareholders. The person who raised this complained about dilution. There is an opportunity now to cover your dilution at a cheaper price than the raise, even when you add the cost of brokerage.
As a retail holder I am happy there is no SPP. The company does not need my money, so there is no need for the drag this would cause. Most importantly though, all of those concerned about dilution, if you buy on market, not only do you get to maintain your holding at a cheaper price, you also get the added benefit of putting buying pressure on the SP.
For the life of me, I cannot think of any positive that would come from an SPP.
WBT Price at posting:
$2.67 Sentiment: Buy Disclosure: Held
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