Mons'
It could have been to do with 'marketable parcels'; I believe $500.
Let's take that - $500, at the time of the SPP announcement the share price was roughly 11 cents. A marketable parcel = approx 4,500 shares.
Holders down at 850 shares were holding, approx $95 worth. Sorry, let's get real. Someone who had less than 1,000 shares has lost interest, lost commitment or just gone off to 'another place'. Sorry.
If anyone can name one (certifiable) shareholder with 850 shares, or less back at the SPP date, and that shareholder actually applied for any of the parcels offered, I will shout them a free ice cream.
Let's move one, please
Ann: A$10m SPP Closes Substantially Oversubscribed, page-109
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