Some holders may be expecting to be able to buy in the SPP, hence not buying on market.
Need to consider that the SPP is targeting to raise $1,200,000.
If shareholders apply for their max subscription of $30,000, then only 40 holders would completely fill the SPP.
In the last Annual Report it stated there were 884 shareholders.
I think its likely there will be a large scale back.
Ann: Investor Presentation, page-28
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