Why? Let's say a pensioner has held the stock for 10 years, never sold anything, but does not have $30g to buy subscribe for shares for a discount... why should he get penalised for selling a few to fund his participation?
Vs a millionaire with hundreds of thousands of spare cash to participate who bought the stock one day before the announcement. Mr Millionaire gets his full allocation, dumps it the next day its allocated for a stag profit.
What you're saying is if you're rich, and can afford it, the SPP will favour you. If you're not rich and have no other way to scrape together 30g's, bad luck who cares if you supported the company for 10 years.
This is a terrible way to discriminate against shareholders. Glad they did not do it.
