The opportunity was there last Friday, during the day I bought...

The opportunity was there last Friday, during the day I bought 200k at 30c and another 200k at 30.5c but could have easily bought much more if I wanted them. I doubt I could have received that many in any SPP offer and would have sent the money only to get cut-back and 2 months later receive a refund.

Just like with SYR SPP last January when if you sent the maximum $30k you would have got just under $8.5k worth of shares and a refund for the rest the real opportunity was to buy at market when the sp fell and buy as many as you wanted for a couple of cents more.
ARU is almost completed their SPP at 12c so I sent them the maximum $30k allowed but the real opportunity was to buy all the shares I wanted on market for half a cent more immediately after the announcement. Anything I get from the SPP is icing on the cake and the refund after the cut-back is the wasted opportunity. ;-)