I applied for $15K worth and I own less than 10,000 shares. I don't see how there's any correlation between shares held and how many individuals would apply for.
The benefit of the SPP is to smaller shareholders, as they are able to proportionally increase their holding in the company. We retailers are all diluted by companies making placements. SPPs are the only way for us to claw some of that back.
In the past I've been more likely to apply for he full amount for SPPs where I've had the biggest paper losses as a way of trying to get back into the black. Looking at RUM's price chart I think it's pretty fair to say most people are sitting on losses.
Even if all the 'approximate number of shareholders “likely” to take up the SPP', as you put it, being the holders with >10,000 shares, took up the offer, I don't see how you conclude that nobody will be scaled back. Are you assuming all of these people subscribed for $2,000 worth? Well, everyone else except me, as I subscribed for the full amount?
RUM Price at posting:
16.0¢ Sentiment: None Disclosure: Held
