Ann: SPP Letter to Shareholders and Plan Rules , page-3

re: Ann: SPP Letter to Shareholders and Plan ... Yeah it's dilutive, but you'd prefer a smaller share of something with a future, rather than a larger share of a company that's run out of money right!

Throughout 2009/2010 there were loads of SPPs, all at deep discounts to the traded price, and most share prices went up further afterwards, not down to the offer price. Best example was Macquarie Bank - i think they offered shares at around $19 to existing shareholders when the shares were trading at $24 ish, and by the time the new shares were allocated they were trading at $35! I didn't get any but a few mates made $20k pretty easily.