I got a reply late in the day from Dean, which was as...

I got a reply late in the day from Dean, which was as follows:

"At this stage we are preparing the full details of the offer, including what structure in terms of over – subscription and scale – back will be required, however as per the original announcement the intention is to reward our long – term shareholders and to encourage Bonaparte shareholders to participate."

... which was a cut and paste of the reply received by dewsgreen at the top of this thread. No doubt management are being inundated by similar questions, hence the C&P replies. A shame that they couldn't have been more forthcoming with the finer details of the SPP in the first place. We'll just have to wait and see what they mean by "reward our long – term shareholders".