The biggest mistake they appear to have made is to say you can...

The biggest mistake they appear to have made is to say you can take 'all or nothing' of your entitlement.

So for someone with say 1 million shares who doesn't have the capital for 1 million SPP shares, they're stuffed. They might have liked 500,000 of htem, but not the million - it means they actually need to sell BEFORE ex date so they only have 500,000 on the register at entitlement date.

That's a real screw up imo - and is causing the drop in price.

Had they allowed people to buy as many as they wanted UP TO the maximum allowed, more would have held on.

Saw this clause in hte threads last night so went to read their offer document and yes, that is certainly what it's saying.

So who stuffed up?
Or do they not WANT a lot of holders to take up the offer so they can be placed at Directors' discretion?

Very poorly carried out imo too!