Ann: Share Purchase Plan to Grow SPACETALK Business, page-51

It seems I've been asleep at the wheel for the past 18 months when it comes to SPPs so thanks for the link you posted to the ASIC document on SPPs.

The doc you linked to came into effect at the end of Aug-19 and provides for new rules relating to making an SPP offer without a prospectus. There is also a revised regulatory guide that explains the changes in simpler terms.

https://download.asic.gov.au/media/5253429/rg125-published-30-august-2019.pdf

The main change is a doubling of the former limit per registered holder in any 12-month period from $15,000 to $30,000. ASIC commenced a review of SPP rules back in Oct-18 as the old rules were coming up to their 10 year anniversary. At the time it said the old rules were working well and efficiently and suggested no changes, but there were 3 submissions as part of a consultation process and someone suggested increasing the limit to $30,000, so they did.

Most of the old rules have not changed, including:

• The requirement that offers be made to people who are recorded in the register of members as at a date determined by the issuer (in this case the record date is 4 June, the day before the announcement).
• The rules relating to the pricing of SPP offers.
• Where the holder is a custodian.
• The relief does not apply if trading in the class of shares is suspended.

Note the company will need to make the contract announcement and have the suspension lifted at least by Friday, 12 June, the date the offer open date.