dumping to take up spp

Need to see the fine print, however

According to annual report there are 6,700 nwt holders - to raise up to $5m - means rights offer is only for $750 per holder, probably with the right to seek up to $15,000 in the event undersubcribed. Would only need 333 holders to subscribe at $15k to be fully funded.

Price will be 20% discount to last 5 days trading up to close will probably see the SPP price ultimately being below .0052.

Can't see any incentive in large shareholders dumping to get maximum of $15k at possible heavily discounted price.

You would have to suspect (hope)that the timing of SPP will see some positive announcements over next 3 weeks