Ann: Share Purchase Plan Opens, page-22

Expect SPP to be massively oversubscribed like last SPP raise. TLG has the right to determine how much it raises.
Last time $10 mill was targeted but $53.5 mill received. TLG decided to keep $30mill. I doubt TLG will keep that much this time but it should be a fair bit. It shows the amount of investor confidence in this stock.
First in first served. I suspect like last time they will adjust for share sales. Last time i got about 40% even though no shares were sold. Got the balance less than issue price later anyway.
They will likely try where possible to minimise holder dilution so extremely large holders will get a full $30k but still be diluted. Small holders asking for $30k may get a smallish allocation but no dilution.
TLG will provide criteria to the Registry who will adjust their program.
If the SP holds up i expect profit taking on allocation to push the SP down towards the allocation price in the short term. The more money they keep the more shares that will hit the market so missing out might see you pick them up cheap anyway - last time with $30 mill of shares issued the SP went way below the issue price.
Its also possible TLG will close it early although last time it ran the full distance.
"Scale back:
To manage the 'cap' in section 4.3(a) and to comply with the terms of ASIC
Instrument 2019/547, it may be necessary to scale back an Eligible Shareholder's
application, particularly if A$10 million of New Shares are applied for under the SPP. At
this stage, the Company intends to apply the scale back by giving priority to applications
received on a 'first-come, first-served' basis, however the final decision on how any scale
back is conducted will be in the Board's sole discretion, and the Board may take into
account a number of factors such as the size of an applicant's shareholding at the Record
Date, the extent to which the applicant has sold or purchased shares since the Record
Date, whether the applicant has multiple registered holdings and the date on which the
application was made. This means that the Company may reject applications which are
received after the Company has received valid applications from Eligible Shareholders
which together amount to applications for a total of A$10 million worth of New Shares.
Accordingly, Eligible Shareholders are encouraged to submit their application under the
SPP as soon as is possible "