Ann: Opening of Share Purchase Plan, page-4

The real question is how will Pendal manage the scaleback. Will retail be screwed and get a nominal amount of shares? These sorts of SPP always tend to sort out whether the Baord and Management are interested in looking after retail investors or whether they only care about the Lead Managers and their insto clients who benefit to the detriment of long standing retail holders which tend to be left to suffer from the dilutionary effects of the discounted wholesale placement

I have been a retail holder since the spinoff from WBC