You maybe right - I simply dunno. But from a risk / reward perspective (I’m not a pip trader) acquiring 600k shares now on market at 5.5 makes a lot more sense than parking $30k over the duration of the SPP, getting it knocked down & then awaiting the return of funds. A capped differential of $3k right now v a SP that moves north over the SPP period is the risk. If they wanted / needed to raise another say $6m IMO then they would have done it as part of the CR & not the SPP. Interesting few weeks ahead.
Ann: Share Purchase Plan (SPP) Offer Booklet, page-18
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