Ann: Race raises $29.7 million in oversubscribed SPP, page-195

From the first day the SPP was announced, I thought it was a genius raise (here are some of my replies to some of my contacts questioning the SPP).

The oversubscribed SPP has partially proved my hypothesis. Now waiting on more of the RAC iceberg to be revealed.

IMO, this SPP only raise will:

- underscore a base of at least $3 in the SP. $14m of oversubscribed funds being returned.
- reward the shareholder base and therefore strengthen it. No insto holding a large parcel for flipping.
- provide a firm launch pad for when surprise announcements are dropped. (I believe the saying is "The bigger the (sp) base, the higher into space".

I totally understand that holders are not happy getting a scale back. But we can still buy on market at not much more than the SPP price, thanks to BG and some other sellers.

THINK BIG. Don't haggle for pennies on your buy entry, when the potential exit is measured in $$$.