Why would you need $30,000? That’s the maximum the company can...

Why would you need $30,000? That’s the maximum the company can raise per shareholder under a SPP. I expect that the paperwork will state that you can subscribe up to $30,000 however I don’t expect that anyone will get that.

I haven’t seen the fine detail but my understanding is this SPP will be worth $4m in total at 26c. An SPP is dilutive to larger share holders and we can all expect to get the same amount of shares.

So with that in mind, there was just over 2900 shareholders in the last Annual report. Some would have exclusively been in options, so call it 3000. Then if we only got a 50% uptake of 1500 shareholders, then $4m/1500= $2666. If every shareholder takes it up then $1333.

Should be no need to be applying for $30,000 unless they balls it up. I guess we’ll find out before tomorrow.