share purchase plan

Hi all,

For those who have participated in similar SPPs in the past I wanted to confirm my thinking about the arbitrage that exists with this offering.

Assuming one took up their full $15k entitlement ie. 1,400 shares and based on current $11.70 share price, there is an opportunity of a $1,400 arbitrage.

Considerations:
- will share price drop on the back of those looking to dispose of shares to take advantage of the abritrage?
- will participation be scaled back due to over subscription?

My questions relate to what others have found with the above two points, I would think the size of the SPP would be small enough in relation to market cap for liquidity to be sufficient not to see a sizable drop, your thoughts?

I would think that the number of shareholders taking up the SPP would result in large scale back of the SPP offer.

I would be interested in others' thoughts on the above.

Thanks
Rhys