When determining the amount (if any) by which to scale back an...

When determining the amount (if any) by which to scale back an application, the Company may take into account a number of factors, including the size of an applicant's shareholding, the extent to which Eligible Shareholders have sold or bought additional shares after the Record Date and the date an application was made.
So IMO:

• Those with a small holding prior to the record date that applied for $30k of shares - sorry expect a big refund. Maybe you'll get a few shares. Lack of a decent investment in the company prior to the record date won't be well regarded for this SPP.

• Those that have sold after the record date - will be judged harshly.

• Those that are late to the party will likely be denied entry. A few may sneak in if they have a decent holding and have been holding a while.

• Those with a decent holding that applied first thing on Monday morning are best positioned.
• Anyone still undecided or a bit lazy - the horse has probably bolted.

Seems fair to me.
I know of 4 entities that applied for the maximum on Monday morning.