It's a hard one to fathom - why would you not have an SPP and allow the holders a chance to accumulate for a 6% discount. It's not likely that it wouldn't have been fully subscribed. All I can think of is that there is some reason related to the registry and them not wanting to give certain holders a larger percentage than they already own. Or, some of their large holders made it clear they were unlikely to invest further.
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- No SPP, not happy Jan!
No SPP, not happy Jan!, page-5
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