My guess is that the SPP will be so well subscribed that there will be a significant scale back. Share holders including JJ will be able to apply for a maximum of $15k worth of shares being roughly 24,000 shares for each entity on the register at close of business 14/10/09. Not sure how many entities JJ have used to accumulate shares.
It is my understanding that existing holders including those in the top 20 were excluded from tranche 1. IMO this was designed to dilute the power of the top 20 & provide heaps more liquidity. This would take a lot of grunt off GFA & provide opportunity for other big players to have a chance of a takeover succeeding
CQT Price at posting:
68.0¢ Sentiment: Buy Disclosure: Held
