There is absolutely no reason to do an SPP unless you are...

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.