SGB offering a $5k SPP to shareholders at 97.5% of VWAP during...

SGB offering a $5k SPP to shareholders at 97.5% of VWAP during the last week in February.
But the issue price wont be more than $35.00 ( currently trading at $29.80.

Hmmm Looks very unatrractive. I think they promised to do this when they made an insto placement in November, but they obviously don't need the money because they can hardly be expecting shareholders to be too keen.