Hi,
As per the announcement, anyone who was holding shares at 5:00 PM yesterday (3/8) is eligible for the SPP (minimum amount being $2000 and maximum being $15000). If someone buys the shares now, they will not be eligible to participate in SPP.
It will be good if instos will push the price up as that mean less shares will have to be issued. For example if VWAP Share price is $1, and I participate in SPP with $15000 - I am only eligible for 15000 shares whereas if VWAP is .80c, I will be eligible for 18750 shares which dilutes the registry more. I am not sure whether instos will push this higher.
They haven't specified any amount what they want to raise as normally companies specify the amount and if there are over subscription , it get scaled.
Ann: Share Purchase Plan, page-40
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