spp shortfall, page-22

Not surprised that there's a shortfall and think this has actually worked out pretty well.

Firstly, the share purchase plan was limited to $15k per holder...If it was a free for all there never would have been a shortfall, so the fact that not enough mum and dad holder's (who make up the bulk of the register as far as # of shareholders is concerned) could or would stump up $15k in this market is hardly suprising... The big end of town will always make up the bulk of these raisings but they were (initially) restricted in this case to give the small holders a go.

Secondly, when the spp closed the share price was pretty much at the level of the cap raising, so for the company to manage to place 35% of the raising at no discount in this horrible horrible market to sophisticated investors is IMO actually pretty huge and quite telling.

Thirdly, lets be honest...Come Monday who would be more likely to drop their placement for a quick profit? Insto's or Mum and Dads? and who is responsible for the rise from 5c to 6.5c? geniunely interested in the answer to that question.