New bidder enters AWE race, page-63

Hi @frednurk

In my view, the advice given to you runs counter to the information noted in their SPP documentation. If, it is capped at $10 m, then it means that the Board has no 'discretion' in dealing with the subscriptions. Their SPP document refers to the Board having, 'absolute discretion'.

They can't have it both ways. Either the SPP is capped and there is no discretion available to the Board. Or, it is open to the Board to utilise that 'absolute discretion' and allocate above the $10 m