Now when companies offer "shareholder purchase plans" they are limited by some ASIC rule to only allowing issues of $5k worth of shares to a shareholder in any 12 month period.
Lots of SPP offer documents state this, it is allegedly an ASIC or ASX rule. If they offer more than once in 12 months, people who participated in the first one are barred from the second. People who hold shares in multiple HIN accounts are allegedly barred from applying for more than $5k worth of shares.
OK then, how come AEC director Rod Smith has admitted to getting $10k of new shares in the March SPP ????
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