Share purchase plans are specific funding schemes governed by ASX listing rules. The allow a company to offer new shares to existing shareholders without the need to issue a prospectus.
https://download.asic.gov.au/media/5253429/rg125-published-30-august-2019.pdf
Meaning of ‘purchase plans’
RG 125.1 For the purposes of this guide, a purchase plan is a plan for the offer of:
(a) shares to existing shareholders of a company listed on ASX; and/or
(b) interests to existing members of a managed investment scheme listed on
ASX.
Note: In this guide, we refer to these offerees as ‘holders’.
RG 125.2 All references to purchase plans in this guide refer collectively and
exhaustively to these offers. The conditions and rationale of relief for each
offer under ASIC Corporations (Share and Interest Purchase Plans)
Instrument 2019/547 are substantially the same. The relief does not extend to
offers of options.
RG 125.3 Purchase plans give existing holders a convenient means of obtaining
additional shares or interests in the issuer. These securities are priced at a
discount to the market price during a period before the offer and without
brokerage fees
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