Guys and gals, there seems to be a bit of sour grapes going on...

Guys and gals, there seems to be a bit of sour grapes going on here with some people, and for what it's worth, I'll say two points:

1. As a previous official top 20 holder, and still a current unofficial top 20 holder (due to holding in several accounts, in case anyone was wondering what I meant by "unofficial"), I can say that I didn't get my full allocation either. Like the parable about the boy, the man and the donkey going to the market, you can't please all the people all the time. Management had to do the best they could do with a heavily oversubscribed retail SPP. They received $3m in funds and they only asked for $1m. As it is, they increased the SPP by $500K in an attempt to give more retail people some holding, and shareholders should be pleased that a company has raised so much money that they are sending refund cheques in the mail. They should also be pleased because the company didn't need to do a retail SPP, as they had bucketloads from instos. They chose to provide a retail SPP to allow retail shareholders to participate on the same terms, as much as possible. It's a quality problem to have, and one that (on balance) all the small investors should be positive about. Many company managements/boards don't even make a minuscule attempt to satisfy retail shareholders.

2. The fundamentals of the company haven't changed materially in the past 6-9 months. Every single person whinging about not getting allocation at 17c could have just bought THE EXACT SAME COMPANY on market at 12c-15c only a few months ago. Where were all your complaints about not being able to get enough shares at 12c, 13c, 14c, 15c, 16c? If it's a good investment, then buy it, but don't whinge about having to pay 19c instead of 17c when you could have seriously turbocharged your holding by buying at 12c earlier this year (even 11c for some lucky buyers). As an aside, I'd suggest that even 19c won't be seen for too much longer once refund cheques hit people's accounts, but that's your call to make next week as you look wistfully at the share price and dream of what could have been if only the duplicitous (and possibly downright evil) management had seen you for the fantastic investor that you are, and given you your full, God given right to have all the shares you wanted at 17c.