There is absolutely no reason to do an SPP unless you are looking after retail shareholders. It would be much much easier to simply do a placement to s.780 investors, it would be done in a day.
I don't think retail shareholders cant fault the company on this point. The downside is the price will drift at the SPP issue price for a month while its being completed but all shareholders have an opportunity to participate.
KWR Price at posting:
6.6¢ Sentiment: Buy Disclosure: Held