I understand your sentiment, hear me out.When the capital raise...

I understand your sentiment, hear me out.

When the capital raise was announced, did you contact the company, explain that you were a serious holder, and ask to be included?

I ask this because that was what I would have done had I had funds available at the time. This is only to say I acknowledge but discard the fund availability argument since it would also have been a factor in your ability to take part in a SPP.

There is a presupposition amongst retail that just because something is offered to instos and sophs that you can't be involved, but I don't buy that. If you are an insider that wants to contribute, then surely an exception can be made to include you. I find it hard to believe that this can't extend to hardcore backers who don't technically qualify as sophs, but make an effort to reach out to the company early and with conviction.

If your argument is more altruistic in the sense that you are voicing your concern for wider retail, I don't think you have acknowledged what @samtstunning argued - that SPP's 'empirically' drag on the share price, and I think what he meant by that was relative to insto/soph raises. If Sam was to present that empirical data it would make it easier to digest the choice management made not to go down that path.

More than happy to be corrected on any of this, I am just calling it as I see it