just for the record, it was a Non-Renounceable Rights Issue, not a SPP. SPP being a Shareholder Purchase Plan.
There is quite a difference.
A big difference in allocation, ability to raise funds, and thereby even possibly affect control.
I think one can Underwrite a SPP, (but not sure).
A SPP is limited to $15,000 max for each individual shareholder (normal circumstances- Govt raised limit to $30,000 during Covid). So max amount would be $15,000 x number of individual shareholders.
Whereas R/I can be any amount. Could do say a 2 for 1 ie 2 new shares for 1 existing share for example.
So in a SPP those big s/h with millions shares would only be able to subscribe for $15,000, instead of $millions.
cheers
Ann: Completion of Retail Entitlement Offer, page-11
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