Insto’s and sophs always get looked after first. In fact they...

Insto’s and sophs always get looked after first. In fact they may have sold down their positions at a profit to pick up all these new juicy shares at rock bottom. For those surprised at the CR, the company consults investors on what they would be willing to participate and go from there.

With regards to offering an SPP to retail at a later date, this can be taken as two ways, SP will be north and the retails are getting well looked after and will scramble to participate. Or the SP will be down in the dumps and the SPP will fall over, which may be what the company wants.

My view, the company doesn’t care about retail so they won’t care about the SPP. Expect the SP to hit CR level. It Certainly looks like that at this stage.