Ann: Share Purchase Plan opens, page-23

PSA:
Just a word of caution to existing investors, not traders, (i.e. those with a LT horizon who aren't looking for pips or even a couple of cents) who are seriously thinking of participating in the SPP: Don't mess around in getting those applications in! Do it this week!

If, repeat if, the SPP gets inundated with demand then you can bet your TBC membership status (and the free freshly-sharpened pitchfork that came with it) that allocations will not only be scaled back (yeah, yeah, I know), but more importantly, the Offer would very likely close early!

How early?

It depends of the size and speed of the actual demand wave. The published acceptance window is two weeks from today, but I've seen these things close after only a few days in extreme cases.

Is that really likely to happen?

Dunno, can't foretell the future. However, if you're gonna apply anyway, then you can avoid double* disappointment by not procrastinating.

Why even mention this?

Because the instos and sophs soaked up the Placement up to the tune of 110% of the original offering and, as I understand it, the window closed after only a few hours or so on Day 1. There were also material scale-backs -- (40%, from one source I know).

Just thought I'd throw it out there. As always, dyor and take your own lumps.


(*The possibility of scale-back is the first disappointment that is potentially unavoidable under the Plan -- notwithstanding it can be somewhat mitigated on-market, subject to the vagaries of continuous auction price.)