I've seen and been in several SPP's worded like that. Though the results have varied a little. The intent is to stop those who registered tiny amounts in say 10 entities in say the last 3 weeks biasing the spread. (Like the original Telstra float). It gives directors flexibility to draw lines to how they distribute the SPP shares widely and in the company's interests and to refer to their communication as having said so. That spread to gain liquidity is the purpose of the SPP. It will be a scale back more severe for the $15K applicants.
I've seen and been in several SPP's worded like that. Though the...
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